Tuesday, August 31, 2010

Technology is changing everything

Down streaming the product and attempting to make the product more purchasers friendly had led to two major changes:
1. The products will evolve continuously to meet the consumer requirements. Unlike the olden days where the product version was not that dependant on customer views. This will not only increase the customer satisfaction, but will also act as a platform to increase the customer base for a given product.
2. The power of purchasing a product, unbiased solely lies in the hand of the customer. Hence, products which are not user friendly will be eradicated from the market, as there is no room for false advertisements that might lure the users to purchase it. This is possible because the user now has the advantage of reviewing the product before purchase. Be it in terms of feedback given by other buyers or the critiques posted by subject matter experts online.
Thus, the focus is now making the products more customers friendly. In any given organization high priority is given for customer satisfaction. Retaining the older customers and at the same time engaging with newer customers.

A few steps that firms need to take towards down streaming of their products could be:

1. Providing internet access to users within their stores, and having some kind of discounts for people who provide feedback about the product online.
2. Providing incentives to user who introduce the products to other consumers, online.
3. Give a recommended list of items whenever the consumer either visits the store or logs into the product website. This should be based on the previous history of similar purchases made.
4. Ability to buy or sell used products within the vicinity of the organization instead of using 3rd party systems such as e-bay. This will not only increase the market scope for the product but also will provide assurance to the costumers about the re-sale value of the product. Therefore, gaining customer trust!

Saturday, August 28, 2010

The Social Network - Set to release on October 1 2010

The story behind the creation of "Facebook"; a 5 Billion member socializing website, is set to be released on October 1st 2010. While the media is quite excited about this and a lot many have given good reviews about the film, a lot of questions remain lingering in ones mind about the popularity of this movie.

Facebook acts as a platform for networking and keeping in touch with your family and friends virtually. Most people may not like the fact that the evolution of this website, created a struggle between the founder Mark Zuckerberg and his classmates. Is this the reason that the liking towards another horror movie due to be released superseded this movie liking? It could also be wrong marketing strategy. I had been to a multiplex recently and the promos of this movie were very cynical. It showcased the vicious plots, double crossing, legal battles to name a few as the baseline of the movie. How can advertising these, possibly market a socializing network website creation story!!! What other possible approaches to market this movie could have made it more popular? May be a few positive elements added during the promos, would have made the viewers of movie and fans of "Facebook" more accountable to watch this movie.

Yet another question is, what this the right time to make a movie on Facebook. Agreed that 5 billion users are in Facebook. But really what proportion of internet users are on Facebook, and what ratio do internet users represent when compared to world population. Hence, a person not aware of internet forget Facebook may really not be interested in this movie. Looking at the Facebook popularity penetration amongst pople, had they waited for a couple of years and then made the movie. Then there is no doubt that the fan base for this movie would have drastically increased. Also, with many governing agencies planning/ indicating a ban on a few chatting websites, many movie watchers might be more skeptical about watching a movie on how it was created. When it is in the brim of being banned!!!

So at the end of the day, do we blame the marketing strategy for the low popularity for this movie before it is being released or the bad timing for release? I need to explore further and see what happens after the movie is released to critique on it :-)

Friday, August 27, 2010

Hey Guys & Gals,

I have created this blog for my MBA Fall 2010 Subject - Information System. I just wanted to let the readers and followers know about the title of the blog. When I was creating this blog, I thought the reason behind creating it. And the first thing that striked my mind was "Effective Communication" using this blog. Well, the word Effective Communication is so common in the MBA field and we hear it day in day out. Hence, in order to make it sound more inquisitive, I did a translation of this to Sanskrit; The oldest language in India, from which most of the other regional languages are derived. Therefore, I have "Artha Acaksa" as the URL and Blog name.

Artha -> Effective
AcakSa -> Communication.

I still am not sure, what topics I would be blogging about. But do watch out this space for regular blogs which would improve my communication skills and the readers knowledge [ Hope SO!!!].