The discussion was lively, the professor's good and doesnt seem to run out of witty arguments. One thing I like best is the invocation of a lot of real-life case studies, like Google overtaking Coke as the number 1 brand, De Beers making a strong impression on their diamonds, Sony being a mass favorite for electronics, as so forth. I'm not really into theories in terms of studying marketing concepts.
My professor would always say it's all about 'branding and positioning', how do you want your product/service to be perceived, to be the top recall, and ultimately the choice of buying and consumption. AIDA - Create Awareness, Interest, Desire and (take) Action to close the deal. Below are excerpts taken from his article about AIDA, a good read.
A little known secret as well, Donald’s biggest marketing challenge was marketing himself to his wife. Having known her since she was 13 must have been a mean feat to suddenly market an image of potential husband material.
“Actually, it was more like how she marketed herself to me. I was captivated by her. She is definitely the better marketer because she applied the A.I.D.A. approach. She first created the AWARENESS to let me know she existed in Sunday School, made me INTERESTED to find out more about her, created the DESIRE to make me do things that I never thought I would and got me to take ACTION by going down on my knees to propose to her.”
We had several classroom exercises, out of those three were quite remarkable..
One was to think of a company that has strategic business units (SBUs). The example given was Procter and Gamble, like they have Pantene shampoo, Pringles chips, Gilette, soaps, diapers, etc etc. What a familiar example ;p. So what was my example.. none other than HP, they have desktop, laptops, IT outsourcing services, printers, PDAs, etc.. need I say more? I should know all these! Hmm two companies quite close to my heart. :)
The other was to think of a brand that was able to stand out from the competition. My example was Olympus, they have created a big impression for their underwater camera which has become a must-have item for divers and water sports lovers.
Lastly, we were asked to think of a product that is still existing nowadays despite the evolution of technology. This is pertaining to typewriters that has come to obsolency after the PC age, the walkmans that have been replaced by MP3 players. And my brilliant case.. the electric fan. :p No matter how advanced technology has evolved with the onset of split-type airconditioning units, each household will still have an electric fan. No special argument. It's just too useful not to have one and too hard to replace.
Fun fun. My creative juices are flowing. Seems like I've been hitting the right note. And they were surprised to know that I dont have any Marketing work experience. :)
There was a time when the topic was about packaging and distribution. The professor was talking about the economies of different countries. In Singapore, everything is in bulk, you have to buy tissues by the dozens. While in other countries like Philippines, India, we have sachet concepts. When talking about distribution, he suddenly asked, anyone of you familiar with Philippines? Philippines is a huge group of islands that designing distribution channels to penetrate the whole country is quite a challenge. 'so how many islands does Phil have? any guess? I feel like I have to raise my hand (I'd be too hypocrite if I pretend not to know). And I answered '7107 islands'.. At the back of my mind, I was really tempted to say 'high tide or low tide' ala Charlene Gonzales in Ms Universe pageant. hahaha just cant get it out of my head. After that people were all surprised to know that I am from Philippines because I dont look like one. Some started asking me stuff in Philippines. Whew suddenly I became a tourism spokesperson. :p
And oh I also realize it's really hard raising a kid. It hurts the pocket when you yourself are paying for tuition fees!
Sidenote: Short but I did try to enjoy every moment of it. My classmates were of normal level, not the geeks that I initially expected. Mostly female and shortage of male (no prospect hehe). There's one good-looking though, who humorously told me 'if i were you, i'd think of a way to shift out of IT and practice IE (my degree) as IE is a good paying job in SG'. Hehe too bad it's too late for me to look back and shift careers.. and oh too bad, he's married. haha of course I wont be mentioning anything here that would incriminate me. :p
P.S. I just got my class card last week. I got a B!
P.P.s I was hoping it was an A! haha :p
Showing posts with label Marketing. Show all posts
Showing posts with label Marketing. Show all posts
Saturday, August 23, 2008
Marketing Project: TV
Sharing my final project - creating a marketing strategy for digital TVs. It was a group project, I was assigned to do positioning and financial plan.
Positioning
Being one of the strongest in terms of producing LCD panels, Sharp doesn’t seem to have conveyed this strong point across, leaving the television industry throned by Sony and Samsung. With the impending switch of Analog to Digital Television, it’s a good timing that Sharp uses this winning strength and launch a full-blast campaign.
The main positioning statement would be composed of two main parts: to produce IDTV that gives the best image quality and the FIRST to give you visually appealing designs.
For the first part, best image quality. With Sharp owning their own LCD panel technology, coping up with the demands and trends wouldn’t be a problem on resource availability for mass production. As television sets evolve through the years, they were able to achieve a sustainable growth from the old days of CRTs to the current LCDs and much more in the future of digital living.
For the second part, visually appealing designs. Sharp will differentiate itself from the competitors by introducing creative designs to veer away from the usual black and silver panels. Mobile phones have colored casings, laptops now come in different colors and skins, and so with digicams. It’s about time that a top TV manufacturer be daring enough to try different colored LCD panels. To be able to cater to individual taste, two lines will be launched -Trendy and Elite lines. Trendy designs should be the hip and colorful designs targeted on women. Elite lines will have an elegant finish and will also have higher specs, as this will be charged a premium and targeted to the high-end market.
We want to position Sharp Aquos – Trendy and Elite lines as a must-have item in every home, it’s not just a TV but a house decor for owners to flaunt, a de facto item in every household.
We have thought of two strong concepts of ads/taglines to position our TVs clearly in the mind of our target buyers.
P.S. Special thanks to my artist who has put my brilliant ideas into awesome images. :p
P.P.S. Above concepts are created for educational purposes only. If this does become a trend in the future, well then I'd be more than happy to be acknowledged. My brainchild. :p
Positioning
Being one of the strongest in terms of producing LCD panels, Sharp doesn’t seem to have conveyed this strong point across, leaving the television industry throned by Sony and Samsung. With the impending switch of Analog to Digital Television, it’s a good timing that Sharp uses this winning strength and launch a full-blast campaign.
The main positioning statement would be composed of two main parts: to produce IDTV that gives the best image quality and the FIRST to give you visually appealing designs.
For the first part, best image quality. With Sharp owning their own LCD panel technology, coping up with the demands and trends wouldn’t be a problem on resource availability for mass production. As television sets evolve through the years, they were able to achieve a sustainable growth from the old days of CRTs to the current LCDs and much more in the future of digital living.
For the second part, visually appealing designs. Sharp will differentiate itself from the competitors by introducing creative designs to veer away from the usual black and silver panels. Mobile phones have colored casings, laptops now come in different colors and skins, and so with digicams. It’s about time that a top TV manufacturer be daring enough to try different colored LCD panels. To be able to cater to individual taste, two lines will be launched -Trendy and Elite lines. Trendy designs should be the hip and colorful designs targeted on women. Elite lines will have an elegant finish and will also have higher specs, as this will be charged a premium and targeted to the high-end market.
We want to position Sharp Aquos – Trendy and Elite lines as a must-have item in every home, it’s not just a TV but a house decor for owners to flaunt, a de facto item in every household.
We have thought of two strong concepts of ads/taglines to position our TVs clearly in the mind of our target buyers.
P.S. Special thanks to my artist who has put my brilliant ideas into awesome images. :p
P.P.S. Above concepts are created for educational purposes only. If this does become a trend in the future, well then I'd be more than happy to be acknowledged. My brainchild. :p
Monday, August 11, 2008
Marketing Assignment for Bvlgari
I finished the Marketing Strategy module of NUS Ext last July. Yes, learning is fun!
Thought of sharing one of my assignments, actually it was written in haste, cramming due to conflicts with work. Anyway, here is my analysis and comments on marketing mix of luxury watches. (4P's)
Brand Chosen: Bvlgari
Background:
Bvlgari established its first jewellery shop in 1884, known for setting the pace of Italian style in jewellery. Then later on it has branched out into creating luxury watches in 1977. To date, Bvlgari is among the top preferred choices for luxury watches worldwide.
Target Market:
Bvlgari’s brand value is high as they have built a strong name with their elegant watches with contemporary designs. Accesorized with their own Bvlgari jeweller heritage on some of their watches, I believe it’s a plus factor and an eye candy for the women market. Their steel watches are also a favourite among the men. In general, Bvlgari targets people from the extreme high-end market, the watch collector hobbyist, those who appreciates quality and design and can afford a premium cost for a watch.
Product Mix for Watches:
Their watch product line is a good mix for the discerning eye suiting different preferences.
High Jewelry Watches – overloads of gems, mostly the diamonds, and some with red and green gems.
Collections Watches – the more popular ones are the following:
- Bvlgari-Bvlgari (contemporary, cylindrical)
- Assioma/Assioma D (quadrangular, minimalistic)
- Rettangolo (geometrical lines)
- Ergon/Diagono/Calibrio (sporty and free-spirited)
- Cerchi (colored constellation gems)
- Lucea (bracelet style)
- Parenthesi (parenthesi sign and diamonds)
From the descriptions in their website, the categories are clear cut on what to expect and which to choose in accordance to one’s own taste. A prospect buyer would find it easy to spot one.
The watches for women are very appealing, as they were able to combine their jeweller craft into the watch designs, like the bracelet style with dangling hook chains, goes well with elegant formal wear.
The watches for men on the other hand have a strong , unique and clean finish, whether it’s the sporty type or the executive type.
Material wise, they are able to explore steel, rubber, leather straps. It has something to offer for each individual taste.
Price:
Price of Bvlgari watches ranges from a minimum 1,500USD and can go as high as 100,000USD. It’s a usual practice among any luxury products to launch limited edition series, of which people go crazy about having one, Bvlgari included. The price range shoots up high unbounded. An example is their Bvlgari Assioma D Line designer collection which boasts of a hefty 20,000-100,000USD.
Promotion:
Bvlgari’s Website
With the emerging dotcom world, a decent website is a must. A website speaks much of a brand, and an audience can clearly identify what image a certain product is trying to convey. And definitely Bvlgari successfully hits the bull’s eye. Among the five watch websites that I browse through while choosing a brand for this project, Bvlgari is definitely the most appealing. It’s the only site I came across that offers a 360degree view of the watch, the watch rotates slowly and shows you a view from the front, the side, and the back view (what is engraved). And there’s even an icon for you to ‘play’ with the watches, check under the Collections category. You can drag and tilt the watch whichever way you like as if you’re actually holding it, virtually enticing. Each watch model also has a detailed description of the material, the design, what it suits, which gives a very clear understanding of the product. The adornment of the precious gems adds more attraction. It’s more than a watch, it’s an addiction.
There’s one thing I’m curious though, they spelled their website as www.bulgari.com, which is not the spelling of their brand. Though the pronunciation is indeed ‘Bulgari’, I just feel that it’s quite more logical to stick to the correct spelling, rather than create confusion, or maybe their marketing arm has a valid explanation for such.
Whole Bvlgari Product Line
Bvlgari is a brand that carries other products aside from watches, obviously the jewels where it started, then they also have fragrances, bags, ties, eyewears. For people who are die hard Bvlgari fans or those who are particular about consistency, having one Bvlgari product would influence the purchase of the other. Like for example, if I have a Bvlgari necklace, I might as well consider buying a Bvlgari watch, like wearing both to achieve perfect harmony. Thus with Bvlgari having a wide variety of products, it is fairly possible that one product can boost the sales of the other.
Celebrity Endorsers
Popular product endorsers also help in promoting world recognition for a brand like Bvlgari. Below are some articles taken from the internet which further proves the success of Bvlgari in this aspect:
Bvlgari watches have always been associated with celebrities with watch forums discussing which high profile personality is wearing the latest Bvlgari watch. Some of the best known actresses like Audrey Hepburn, Ava Gardner, etc. wore Bvlgari watches as their favorites, making the Bvlgari name synonymous with fine taste and style
One of the most desirable American bachelors and one of the most sexual men on the planet, Ben Affleck chooses the watch that proves to be a combination of elegancy and quality. He wears the steel watch BVLGARI.
Asian endorsers are not left behind. Korean Actress Kim Tae Hee of Love Story in Harvard, also voted to be one of the most beautiful in Korea, was presented with the limited edition Bvlgari Carbon Gold watch during her visit to the new Bulgari store in HK. This watch was also presented to other acting luminaries such as Leonardo Di Caprio, Johnny Depp and Cate Blanchette, as well as other Hollywood celebrities like Martin Scorsese, in honour of their outstanding talent.
Distribution
Bvlgari has strong presence in almost all parts of the world, with boutiques and authorized dealers in 65 countries. Their website bulgari.com also caters for online purchases 24by7, making orders convenient at hand’s reach. A prospect buyer can just put orders online and key in his credit card and shipping details. They also have 24by7 customer service hotline, whether it’s for servicing or for placing orders.
Positioning
Bvlgari has positioned itself to be a premium watch with classy contemporary designs and made of quality materials, a high-valued collector’s item, a de facto standard of the rich and famous, celebrities included. They differentiated themselves as having a strong and rich history sprouting from their jeweller legacy and classic watch design masterpieces, of which commands respect and pricing standard for their watches.
Pictures updated.
P.S. I'm not a big fan of watches, I treat them as necessity rather than a piece of luxury item to flaunt. I dont remember buying watches, most of what I have are just gifts from family or hand-me downs hehe. Don't worry I do appreciate watches as gifts, but oh if it's worth over thousand dollars, hmm maybe cash is good. :p
Thought of sharing one of my assignments, actually it was written in haste, cramming due to conflicts with work. Anyway, here is my analysis and comments on marketing mix of luxury watches. (4P's)
Brand Chosen: Bvlgari
Background:
Bvlgari established its first jewellery shop in 1884, known for setting the pace of Italian style in jewellery. Then later on it has branched out into creating luxury watches in 1977. To date, Bvlgari is among the top preferred choices for luxury watches worldwide.
Target Market:
Bvlgari’s brand value is high as they have built a strong name with their elegant watches with contemporary designs. Accesorized with their own Bvlgari jeweller heritage on some of their watches, I believe it’s a plus factor and an eye candy for the women market. Their steel watches are also a favourite among the men. In general, Bvlgari targets people from the extreme high-end market, the watch collector hobbyist, those who appreciates quality and design and can afford a premium cost for a watch.
Product Mix for Watches:
Their watch product line is a good mix for the discerning eye suiting different preferences.
High Jewelry Watches – overloads of gems, mostly the diamonds, and some with red and green gems.
Collections Watches – the more popular ones are the following:
- Bvlgari-Bvlgari (contemporary, cylindrical)
- Assioma/Assioma D (quadrangular, minimalistic)
- Rettangolo (geometrical lines)
- Ergon/Diagono/Calibrio (sporty and free-spirited)
- Cerchi (colored constellation gems)
- Lucea (bracelet style)
- Parenthesi (parenthesi sign and diamonds)
From the descriptions in their website, the categories are clear cut on what to expect and which to choose in accordance to one’s own taste. A prospect buyer would find it easy to spot one.
The watches for women are very appealing, as they were able to combine their jeweller craft into the watch designs, like the bracelet style with dangling hook chains, goes well with elegant formal wear.
The watches for men on the other hand have a strong , unique and clean finish, whether it’s the sporty type or the executive type.
Material wise, they are able to explore steel, rubber, leather straps. It has something to offer for each individual taste.
Price:
Price of Bvlgari watches ranges from a minimum 1,500USD and can go as high as 100,000USD. It’s a usual practice among any luxury products to launch limited edition series, of which people go crazy about having one, Bvlgari included. The price range shoots up high unbounded. An example is their Bvlgari Assioma D Line designer collection which boasts of a hefty 20,000-100,000USD.
Promotion:
Bvlgari’s Website
With the emerging dotcom world, a decent website is a must. A website speaks much of a brand, and an audience can clearly identify what image a certain product is trying to convey. And definitely Bvlgari successfully hits the bull’s eye. Among the five watch websites that I browse through while choosing a brand for this project, Bvlgari is definitely the most appealing. It’s the only site I came across that offers a 360degree view of the watch, the watch rotates slowly and shows you a view from the front, the side, and the back view (what is engraved). And there’s even an icon for you to ‘play’ with the watches, check under the Collections category. You can drag and tilt the watch whichever way you like as if you’re actually holding it, virtually enticing. Each watch model also has a detailed description of the material, the design, what it suits, which gives a very clear understanding of the product. The adornment of the precious gems adds more attraction. It’s more than a watch, it’s an addiction.
There’s one thing I’m curious though, they spelled their website as www.bulgari.com, which is not the spelling of their brand. Though the pronunciation is indeed ‘Bulgari’, I just feel that it’s quite more logical to stick to the correct spelling, rather than create confusion, or maybe their marketing arm has a valid explanation for such.
Whole Bvlgari Product Line
Bvlgari is a brand that carries other products aside from watches, obviously the jewels where it started, then they also have fragrances, bags, ties, eyewears. For people who are die hard Bvlgari fans or those who are particular about consistency, having one Bvlgari product would influence the purchase of the other. Like for example, if I have a Bvlgari necklace, I might as well consider buying a Bvlgari watch, like wearing both to achieve perfect harmony. Thus with Bvlgari having a wide variety of products, it is fairly possible that one product can boost the sales of the other.
Celebrity Endorsers
Popular product endorsers also help in promoting world recognition for a brand like Bvlgari. Below are some articles taken from the internet which further proves the success of Bvlgari in this aspect:
Bvlgari watches have always been associated with celebrities with watch forums discussing which high profile personality is wearing the latest Bvlgari watch. Some of the best known actresses like Audrey Hepburn, Ava Gardner, etc. wore Bvlgari watches as their favorites, making the Bvlgari name synonymous with fine taste and style
One of the most desirable American bachelors and one of the most sexual men on the planet, Ben Affleck chooses the watch that proves to be a combination of elegancy and quality. He wears the steel watch BVLGARI.
Asian endorsers are not left behind. Korean Actress Kim Tae Hee of Love Story in Harvard, also voted to be one of the most beautiful in Korea, was presented with the limited edition Bvlgari Carbon Gold watch during her visit to the new Bulgari store in HK. This watch was also presented to other acting luminaries such as Leonardo Di Caprio, Johnny Depp and Cate Blanchette, as well as other Hollywood celebrities like Martin Scorsese, in honour of their outstanding talent.
Distribution
Bvlgari has strong presence in almost all parts of the world, with boutiques and authorized dealers in 65 countries. Their website bulgari.com also caters for online purchases 24by7, making orders convenient at hand’s reach. A prospect buyer can just put orders online and key in his credit card and shipping details. They also have 24by7 customer service hotline, whether it’s for servicing or for placing orders.
Positioning
Bvlgari has positioned itself to be a premium watch with classy contemporary designs and made of quality materials, a high-valued collector’s item, a de facto standard of the rich and famous, celebrities included. They differentiated themselves as having a strong and rich history sprouting from their jeweller legacy and classic watch design masterpieces, of which commands respect and pricing standard for their watches.
Pictures updated.
P.S. I'm not a big fan of watches, I treat them as necessity rather than a piece of luxury item to flaunt. I dont remember buying watches, most of what I have are just gifts from family or hand-me downs hehe. Don't worry I do appreciate watches as gifts, but oh if it's worth over thousand dollars, hmm maybe cash is good. :p
Subscribe to:
Posts (Atom)