Marketing Convergence

Marketing Convergence

            Today’s generation revolves around the modern technology. From businesses to marketing, and even gadgets, everything changed. They say, Internet is one thing that changed everything. But does internet totally changed everything? As we can see, our society today is far more different than the traditional ones. From mass marketing, to personal relationship, from Return on Investment to market share, from traditional consumers to cyber consumers, these are the differences made.

            With these variations, people could say that internet does change everything. However, it does not change everything; it just created major changes which were greatly noticed by everyone. In terms of business and marketing, internet totally changed how the consumers behave and how the business operates. These changes prove that the power of technology creates new and different possibilities and convenience to both consumers and the companies. In a way that companies can use new technologies to meet the consumer’s need. And great opportunity comes through the fusion of old and new, physical and virtual.

            As internet opened new opportunities, many companies and organizations took advantage of this. E-business was initially created and eventually, through their great minds, e-business and traditional business was brought together which created something new and different. Through this, people or consumers can combine these two ways to suit their individual taste. However, not all the combinations worked. In the end, the very key for this kind of business is to experiment different combinations. And as investors showered their capital in this kind of market, massive experiments and new business models were created. Though most of it was successful, some was flawed.

            In convergence marketing, there are five (5) specific areas which seem to lead a very powerful combination. These are areas wherein the interactions are complex and can contribute the success of a business. And these areas called “five C’s” are the following:

1. Customerization

Convergence of customized and standardized offerings and messages

2. Community

Convergence of virtual and physical communities

3. Channels

Seamless convergences of call, click, and visit

4. Competitive value

Convergence of new and traditional competitive value equations and pricing models

5. Choice tools

Convergence of new search engines and decision tools for consumers and company-provided advice

            With these specified area, new technologies and systems creates opportunities for consumers to have impressive creativities which combines old and new to create a fusion.  These areas also have significant challenges for convergence within and across the areas.

            Today’s technologies are powerful enough to allow consumers or costumers to become the co-producers in developing and customizing the products and services. And these kinds of services are cheaper and easier. Companies use such technologies to create customized offerings such as coffees, vitamins, jeans, bicycles, eyewear, cosmetics, food, clothing and much other stuff. Through this, pioneers of this technology saw it as a certain win. Of course, customers would go to those services where in they can customize their product than the less-than-perfect standardized offering.Though most products are based on customerization, standardized products are still present. However, companies use variety of strategies to combine the customerization and standardization.

            And due to the fact that every year, new technologies, new strategies, and new ideas were being made, it would not be surprising that convergence will continue to grow. And according to a market research, here are possible convergences,

· Mobile and shopper research will collide. A National Retail Federation poll recently found 41 percent of members were increasing investment in mobile retail and marketing. It’s crucial to continue to develop and test new mobile research programs to help us continue to progress.

· Mobile is no longer the “third screen.” Many households are moving to digital entertainment and away from traditional TV and the use of mobile streaming apps is on the rise. For brands, the ability to track advertising, image and sentiment will get more complex and the sheer volume of data will require creative new models to make sense of it. This is an area where research analysts can bring expertise to the conversation.

· Gamification of research will be extended to mobile devices. While there is still much investigation into the best implementations for game-based research, the movement to mobile devices will create pressure on game-like and game-based research. This will affect the validation of both gamification and mobile research.

· Pricing and packaging will converge into a single study architecture. The trade-offs between changing or holding price points will drive new studies that collect attitudes on simultaneous changes to price, package size and quantities, all variables for pricing strategy.

· Social media drives statistical research and vice versa. Social media monitoring is being used to inform sentiment analysis across brands. However, the elements needed to make predictive assessments are still missing. Research analysts will increasingly experiment with adding social media metrics into time-tested models.

With all the increasing marketing convergence, still, people are not satisfied with is present. They still continue to explore and discover new ideas for new technologies. But what are the drivers of the convergence? On consumers’ side, the drivers for this are the desire for continuity of experience and attention, instant gratification need when it comes to desired product or service, convenience and control over experience, and the need to experience the advancements in web and mobile user experience on conventional media channels. And with these, the leading indicator is the proliferation of connected devices.

It is known that there is a rapid growth in average devices per household. People always desire to own multiple devices because they feel the utility of owning such devices do justice to their lifestyle need. And with that, they are capable and willing to pay for the same. For this fact, it would be obvious that device convergence is a great advantage to both parties.

Moreover, marketers would be interested in it because of the main drivers such as the suitability of market segments owing to their high income, and historically high consideration rates. Another is higher tendency of impulse buying and higher willingness to pay for certain lifestyle, and possibility of sharing consumer data across multiple service providers such as carriers and cable providers which allows better behavioural insights.

Marketing convergence is indeed one of the definitions of modern technology. And as long as this convergence exists, the market in our society would continue make advancements and eventually, would make this world a much better place to live.

References:

http://www.ftpress.com/articles/article.aspx?p=24387

http://researchindustryvoices.com/2012/01/23/why-convergence-will-define-marketing-research-in-2012/

http://www.mindtree.com/blogs/marketing-era-convergence

Guy Kawasaki - Make Meaning

People often find tips, advices and many other ways on how to start a business and making sure that it will succeed or just to keep their business up. And since we are talking about business, money is definitely involved in it, probably the center of it. In starting a business, most people think on how to revolve the money they use as capital or simply, to make money out of it. They were engrossed into it that they fail to think on the real meaning of their business. They tend to forget the main purpose why their business should be put up and why would the people be interested in it. I would be lying if I say I didn’t think the same way, however, the video of Guy Kawasaki entitled Making Meaning, gave me another point, or should I say a better idea on how to make the business a success.  

It was stated by Guy Kawasaki that the essence and core of technopreneurship is to make meaning. Companies which purpose is to change the world and make the world a better place are the companies who make a difference and succeed. As for me, I believe that his words are absolutely right. In the society that we are in, it is essential that the works, products or other stuffs that will be produced should be able to amend our world. The sad thing is that, the usual mindset of people is whenever something or a product is selling big time; they also copy the business until almost all people have the same business. Yes, it would be a hit but the downfall for this is that, the quantity of the product will decrease. However, if people will try to look for something new, will dig deeper as to what this society needs, then they would probably discover a bigger solution, make a deeper meaning with it and improve it in a way that it will cause a big uproar. In this way, people will have better living and companies will be having their way to the top. Making a difference totally counts in making a business since entrepreneurs have to attract people and catch their interest. Since we are in the world of technology, the weirder the product is, the more the people would be interested in it.

            There was also a statement in the video which says that, if you make meaning, you will make money. But if you set out to make money, you won’t make meaning and money. If I were to elaborate what he said, I can say that he wants to tell everyone that creating a business with real meaning, with a strong purpose and concrete goals which would improve the world will definitely make money. It’s like; you’re creating a business that would open up another door for another innovation. Of course, in that way, investors would be lining on the doorstep. It was also stated that if the people who would create business will just set out with just money on their mind, then there’s no way they’ll be able to make a meaning as well as have money. Because you see, if making money is just what they would be aiming for, then they would not be minding the quality of their work, how does it affect to people, how does it appeal to the world or how would it be useful for the people who would be using it. That is why entrepreneurs and technopreneurs should take deep consideration as to what they are doing.

            In the video, Guy Kawasaki gave the key points in making meaning. He said that there are three ways to achieve it, increase quality of life, right a wrong, and prevent the end of something good.

            The first on is to increase the quality of life. In setting a business, technopreneurs should have motivations to continue what they are doing. And a good motivation for it is to think of the people who would be using the product. Like how would their ideas and products be useful for humans, how it could help our modern world, how it could benefit both consumers and producers, and how could it increase the quality of life. Whatever it will be, if the people would think that those products could make their lives easier, then people would flock around it and surely making money with it is just a piece of cake.

            The second point is to right a wrong. In this world, nothing is perfect. Everything and everyone have flaws. Humans may not be able to fix the flaws of people itself, but with things and other stuffs, it could be possible. It could even be a way in making a meaning. Fixing something that is wrong in this world through modern technology is something technopreneurs could do. With these problems, they could come up with a better solution and could work on it. If the product would be something that could end the wrong, people would eventually look up in to it. And if that time comes, that’s when they’ll make money.

            Last key point is to prevent the end of something good. There are things in this world that are starting to change. However, if those things are something that are just too beautiful and could be preserved with the use of technology or other stuffs, then it could be a good way, better yet a good business. In this way, those wonderful things would be able to stay, the entrepreneurs or technopreneurs behind it will have benefits, everything would be balanced and the world will be better.

            If all these key points would become a motivation for a company who would be starting or a just a business, then there will be no doubt that it would be a success. Besides, this will definitely prove that everything is not just about money. People should find and come up for better solutions in order for the people and the society to have a better way of living. With this, success will be assured. After all, making meaning is the core to start something that you want to succeed. 

SONA of the President (July 23, 2012)

On the 23^rd day of July 2012, President Benigno Aquino III delivered his third State of the Nation Address (SONA 2012). In his speech, he mentioned projects which are related to technology.

The first project which was mentioned is to use gadgets in preventing casualties during typhoons.This project is named Project NOAH, an anti-disaster technology which gives fair warning to Filipinos in order to prepare for and avoid the worst. With these, there is no need for families to evacuate to other places.

Knowing the functions of this project, I believe it would greatly help the people especially people on those areas where typhoons often happens. Though PAG-ASA still gives an overview on the weather updates, it would still be better to have this project since people can’t rely on one source. Besides, if this project will be implemented, there will be no hassle and difficulties for people to evacuate or to other places. Though we cannot avoid casualties, it is still a great improvement if the number of casualties is reduced.

The second project mentioned is employing technology to ensure road safety. As stated, technologies will be used to identify and fix dangerous roads. These challenges will be continued until the end of his term and by then, every inch of national network will be fixed.

People can already see the implementation of this project. It is great of him to use such technologies to totally ensure that everyone is safe while they are driving on the high way. Not to mention, technologies makes people’s work easier, so I bet the road construction will be somehow easier since technology is with them.

The third one is a new hub for tech investors. It was mentioned by the President that Philippines were once debtors, but now, we’re the creditors. It was quite unbelievable but investors started to flocks to us. Even Japanese companies had their interest in our country. For this reason, they wanted to have a new hub to attract more investors.

Now, this project would bring happiness especially for people who are inclined in technology or in technopreneurship. It may bring good opportunities for technopreneurs and this might help the country improve more.

If all these projects and those of who are mentioned in his speech are implemented, I do believe that it would greatly help our country since we badly need it. Though we cannot immediately go in advance technology, it is much better to take it slowly. After all, with these technologies, we can start to change some things that are needed to be changed in our dear land.

EQ and AQ

EQ TEST

The result for my EQ Test is shown below,

Emotional Identification, Perception, and Expression  73 You are reasonably skilled when it comes to the core ability of identifying, perceiving and expressing emotions in yourself and others. There is still, however, room for growth. Overall, your skills in this area of emotional intelligence aid you in the process of reading others, understanding how they feel, and effectively identifying your own emotions. These skills form the basis of your ability to relate to the emotions of others as well as well as your ability to understand yourself.

Overall Results IQ score = 116 Percentile score = 86	116

The Overall Result is consist of the scores in Emotional Identification, Perception, and Expression, Emotional Facilitation of Thought, Emotional Understanding, Emotional Management, and Ego Maturity.

For Emotional Identification, Perception, and Expression I scored 77 which means that,

• You are typically in tune with your emotions, and are able to identify your true feelings.
• You seem to have a solid understanding of your strengths and limitations. You generally know what you are good at and where you struggle, and plan your life accordingly.
• You are comfortable dealing with emotions in general.
• You were relatively successful on the recognition of emotions aspect of the test; however, you seemed to have had some difficulty occasionally.

For Emotional Facilitation of Thought I scored 83 which states that,

• You do not have a tendency to ruminate about your problems. Make sure however, that you give an issue in your life the thought and consideration it needs.
• You approach challenges, setbacks and obstacles to what you want proactively, and in a manner that is conducive to effective resolution.
• You are generally a positive, hopeful person.
• When evaluating an issue in your life, you seem to be someone who usually "feels your way" through a situation.
• You sometimes act in accordance with who you are and what you believe in, although this can be a challenge for you occasionally.

For Emotional Understanding I scored 71 and it means that,

• You performed reasonably well on the emotional integration part of the test - there a few questions you seem to have struggled on. You likely understand the profoundness of emotions, and how they play a role and impact everyday tasks in life. However, your depth of understanding could probably improve further.
• When it came to choosing the best approach someone should take to resolve a conflict, you sometimes chose a good approach, but your performance in this area was still not very good.
• You are a fairly empathetic person, and will try as much as possible to place yourself in other people's shoes.
• When it comes to being socially insightful your skills are reasonably good. Continued improvement is suggested, however.

For Emotional Management I scored 79 and states that,

• You are typically able to control your impulses. On most occasions, you will consider the full consequences of your actions before doing something.
• You are typically very poised and in control of your emotions. You are usually able to self-monitor your thoughts and feelings, and regulate/adjust your behavior in response.
• You are quite resilient. You can pick yourself up after experiencing a setback, perhaps more quickly than most others.
• You possess good coping skills. High-pressure, high-stress situations may not be the most ideal circumstances for you, but you will likely be able to cope.
• You are a self-motivated person. Most of the time, you are able to encourage and motivate yourself to try hard and do your best.
• You are typically open to learning new things, although you may hesitate occasionally, perhaps if you feel the new skill or knowledge is particularly challenging.
• You are generally able to not "sweat the small stuff", although it can take effort at times to let go of minor problems or things that you can't change.
• You are usually able to adjust your social behavior to the situation. You can typically deal with a variety of social situations and personalities.
• You may have every intention of resolving conflict in the most ideal way, but it can sometimes be a challenge for you when an issue hits close to home. Overall, your personal approach to resolving conflict needs some improvement.

And lastly, for Ego Maturity I scored 82 and it is said that,

• You are comfortable asserting yourself, and will do so on most occasions.
• You possess a healthy level of self-esteem. You believe that your opinions, skills and abilities have value and in general you have a positive view of yourself.
• You seem to be quite content with your life. There are likely several aspects that you are happy with thus far.
• You strive to act independently, based on your own feelings and desires. You will rarely turn to others for input (unless it's for an objective opinion), or let them dictate what you should do.
• You are a fairly flexible person.

Truth to be told, I find my results amusing since I didn't know that I am that kind of person. Well, it's not that I didn't actually know, it's just that, it agrees and strengthens with what I am thinking and feeling. And I'm quite satisfied with my results.

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AQ TEST

I took my AQ Test in this site, http://www.winstonbrill.com/bril001/html/article_index/articles/501-550/article517_body.html.

It didn't displayed precise results since we have to calculate our own score but this is how they managed to show us the results for the test.

SCORE: 14

C = Control

To what extent can you influence the situation?

How much control do you perceive you have?

Those with higher AQs perceive they have significantly more control and influence in adverse situations than do those with lower AQs.  Even in situations that appear overwhelming or out of their hands, those with higher AQs find some facet of the situation they can influence.  Those with lower AQs respond as if they have little or no control and often give up.

SCORE: 19

O = Ownership

To what extent do you hold yourself responsible for improving this situation?

To what extent are you accountable to play some role in making it better?

Accountability is the backbone of action.  Those with higher AQs hold themselves accountable for dealing with situations regardless of their cause.  Those with lower AQs deflect accountability and most often feel victimized and helpless.

SCORE: 17

R = Reach

How far does the fallout of this situation reach into other areas of your work or life?

To what extent does the adversity extend beyond the situation at hand?

Keeping the fallout under control and limiting the reach of adversity is essential for efficient and effective problem solving.  Those with higher AQs keep setbacks and challenges in their place, not letting them infest the healthy areas of their work and lives.  Those with lower AQs tend to catastrophize, allowing a setback in one area to bleed into other, unrelated areas and become destructive.

SCORE: 18

E = Endurance

How long will the adversity endure?

Seeing beyond even enormous difficulties is an essential skill for maintaining hope.  Those with higher AQs have the uncanny ability to see past the most interminable difficulties and maintain hope and optimism.  Those with lower AQs see adversity as dragging on indefinitely, if not permanently.

The average score for this is 147.5 yet my over all score is 136 which means I am below average.

Alternative Mindset and The Concept of Job Creation

 People often say that education is the key to success. With education, people will be able to survive life with less difficulty through decent and high-paying jobs. For that reason, parents try their best in giving their children the education they needed. Indeed, it is true that with education, they can have a better future. However, there is something off about what people thinks or to be exact, the usual mindset of people.

            As discussed in our class, the usual mindset of people especially parents is that, children will have to attend school, should strive hard to attain good grades, earn a degree, and have a successful job with a better position. In this case, they need to find a job that would fit their specialties and a company that would offer high-paying jobs. Sad to say, those companies who offer high salary are those outside their place and foreign countries. Now the tendency in this scenario is that, people will grab the opportunity in higher businesses leaving their hometown in a still position. This kind of cycle continued for how many generations until such people with alternative mindset worked on it.

Based on what was said, I have thought that this is really what my parents, and billions of people think. Even myself, I admit that I once thought that maybe going to other places would cause people to earn more money. I closed my mind with these thoughts until we discussed in class, the matters in having an alternative mindset.

Now, what would be the alternative mindset for this? Just like the usual, children will have to attend school, acquire good grades, earn a degree, and have a job. The only difference is when people finish their studies and be gainfully employed. Instead of leaving their places for high paying jobs in other places, why not establish a job in their own place; earn money more than what they get in other places and have a chance to develop their very own hometown. This is what alternative mindset leads people – entrepreneurship. In addition to that, since the modern generation today revolves around technology, why not be an entrepreneur in the field of technology, or as what they call, technopreneurship?

People who enter into new and pioneering ventures are call entrepreneurs. And starting up a new business is called entrepreneurship. On the other hand, technopreneurship is entrepreneurship in the field of technology. In this area, people need to use their whole brain, the left brain for logical thinking and right brain for creative thinking, to have best results. It requires characters such as hard-working, have goals, a risk-taker, and most of all, committed. And the best way to know how to be a competent technopreneur is to gain knowledge in the course model called SEED where it stands forSelf Mastery, Environment Mastery, Enterprise Mastery, and Development of Business Plan.

Through SEED, we can have step by step analysis on how we are going to start with our goals. The first one is self-mastery. In this category, it tests how far we really know ourselves. It’s like, we need to know our selves deeper to know what our passion is and with that passion, we can be able to bring out the best we can be. And as what we have discussed in class, a self-mastered person doesn’t need to have a very high IQ. It just needs high EQ and AQ, and also competency and efficiency to be able to handle the business well. The person has to know its own strengths and weaknesses because through weakness, we can gain our own strength. To sum it up, the first step in everything is to understand thoroughly how we naturally work.

The second one is environment mastery. I have mentioned above that people can establish businesses in their own hometown, but to do that, they must be very familiar with their place. They may already be accustomed in their own places but it is still important to know how people work in certain areas, and the commonly and mostly needs and wants of these people. I think this is an essential part of being an entrepreneur since you have to thoroughly investigate the place to have assurance that what you would establish or develop would appear appealing to people.

The third one is enterprise mastery. In this field, the entrepreneurs would be able to learn how to run a business. They would be able to comprehend how the different management works. Like, in this area, they would start understanding the information of the parts in building enterprises, and after apprehending, they would be able to put it up together.

            Last but not the least is the development of business plan. After knowing and understanding yourself, the environment where you would build your business, and how an enterprise works, it would all be put into action which is the developing the plans. Developing business plan involves writing the business plan, presenting it to people, and defending it to be able to prove how it works, and if approved, adding some refinements to make it perfect. This last step in the course model is a very big step towards the next level because people would now be able to make it real. They would have the chance to establish their thoughts and to be part in job creation.

            Now what is job creation? As what I have read from prnewswire.com, job creation is not about providing jobs but for supporting the ideas that creates job. The said ideas will lead to a real innovation where in these innovations will change the world and could eventually employ the world. It is also stated that entrepreneurs and government go side by side and depends on each other when it comes to this matter. This is because these two acts socially responsible when they have to employ people. Job creation also has different definitions and methods.

            The first one presented is the job creation by government spending/stimulus. In this way, government can stimulate job creation when it invests in projects that improve or create new services. These activities include the releasing of contracts to the private sector for infrastructure, engineering, justice, and many others. Other way in which the government creates jobs is by issuing special grants for privately run programs. These are often for special studies and research. Grant receivers do employ people. However these grants are often connected to special favors called earmarks. These seemingly good gestures destroy independent innovation that is developed by unconnected science communities and can cause discouragement to innovate by others. The government also often decides to grow itself and hires new government employees. Some people argue that the bigger government gets; the more overhead private taxpaying industries must pay to support the costs of government.

            In my point of view, the reason why most ideas are being thrown in trash is because of the lack of support in funds and other matters from the government. There may be projects and ideas which are thoroughly supported but not all are given the chance. This may also the reason why only few technologies are produced by the country. Unlike in Japan and other countries where the people with ideas can have all the resources they need for their projects to be produced. However, the government may have enough reasons why it ended the way it was. It was also just fortunate for others who have found companies or private agencies which offers job creation.

            The second definition presented in the job creation influenced by legislation and monetary policy. A change to monetary policies, tax incentives and changes in regulations effects employment. The government needs tax revenues and walks a fine line trying to measure the complicated causal effects of their actions. Good intentions can stray an economy as the actors in the theatre of the economy react to a multitude of conditions at once. These rules and regulations are what established businesses love or hate. The more often there are major changes to tax structure and regulation, the more often there are major movements in rates of employment, either job creation or job destruction. Too many changes can hurt an economy and too little can damage an economy. Again, it is a balancing act that is becoming more and more difficult with the existence of special interest lobbyists, non-profit Political Action Committees with noble concerns over social issues and the environment. Government actions do matter

            I guess this kind of definition is a very big one since every possibility is counted. The people here should be very cautious in their action in order for them to maintain the balance that they are protecting.

            The third one is the job creation using a market share approach.  Job creation can occur when the unemployed become ambitious and start their own business in easy entry industries and markets. This is usually accomplished when an unemployed person turns into an entrepreneur and goes into business to compete in the industry they were familiar with for many years. These new businesses' create jobs simply by innovating and implementing the ideas that were ignored when they were employed. Most small businesses that begin come to the rude awakening that "it's not that easy" but survivors tend to change entire industries that were stuck in operating the "same old way" for years. This also leads to lower prices, stable wages, higher revenues and growth for services in that industry.

            This kind of approach is most likely the common one. I think most entrepreneurs especially those who just have started are given this type of job creation since it is also a convenient one. It is also a type of approach where you could work independently and see if your ways are effective. It can also show what improvements you could have and other matters.

            The fourth one is job creation through ideas: Innovate, create, invent, and invest. The most difficult but the most effective way to create long-term employment is to create new industries. It truly is the hardest way but the best way to continually grow an economy that can support its citizens with employment. In the 1990's the computer desk-top industry exploded along with the internet industry. It was a time of high prices for technology, confusion in this new young technology industry and lots of good paying jobs. It is possible to see new industries surface suddenly as we maintain the free markets environment and investment becomes more transparent and accessible to everyone.

            As what was mentioned, it is the hardest yet the best way. It would really bring out the best of an entrepreneur since it requires good skills and knowledge about what they are trying to do. This also implies the requirements of being an entrepreneur which is to have whole-brained since it needs a lot of thinking, being a risk-taker since it would be a high risk, and being efficient since it has to be in an orderly manner. However, if all of these can be overcome, then good results may be coming in your way.

But apart from the presented ideas of job creation, there is also other way which was discussed in the class. It is the technology ventures which consist of human resources, financial resources, environment, and laws. For the human resources, it involves the Academes, the Research and Development Centres, and many others. In environment, it has IT Parks, Science Parks, Incubation Centres which could be a good starting point for technopreneurs, Infrastructures, and others. The financial resources are the investors and other agencies which could fund the business plans and other projects. And lastly are the laws and policies which are implemented.

Indeed, technopreneurship is a hard thing to do since it requires too much in a person. But then all of these will be all worth it if we would be aiming for excellence. After all, technopreneurship may be the most difficult one but the best way to be able to gain success.