Does it seem appropriate, ethical, worth paying to develop Marketing tools - Brands especially designed for School children?
Barclays’ Bank relationship with schools goes back several years, through initiatives such as its Money Skills programme and direct financial support for schools. The Bank recently launched a new scheme supported by UK Government. The scheme provides financing and resources that support the government’s recently established free school and academy system to the tune of £1.25m over the next three years. This is a programme which helps young people to build the skills, knowledge and confidence they need to manage their money more effectively.
Clearly, Barclays aims at boosting children’s financial management skills in an age of increasing debt dependency and also improve the quality of schools’ teaching resources.
Barclays Money Skills has been developed in partnership with leading UK charities and is delivered by specialist community workers and Barclays employees in a range of settings, including one-to-one sessions and group seminars. The programme tackles topics such as opening a bank account; budgeting, saving and spending; and gives practical guidance on what to do when something goes wrong.
The Bank's management has invested £15 million in this industry-leading initiative, and have recently announced new partnership projects with three leading youth charities - Action for Children, the National Skills Academy for Financial Services and the National Youth Agency - to help them reach one million people with the programme by 2012.
For example, attending higher education presents new financial challenges for many students, and the learning curve can be steep. Although students should be concentrating on their University work, many are preoccupied by concerns over money. Barclays Money Skills ‘weeks’ have been designed to give students an awareness of personal finance issues and to provide them with some tools to control their budget. By strengthening students’ financial skills, confidence and knowledge, Bank aims to reduce their financial stress and increase their chances of achieving their education goals. In 2011, 150 colleges and 90,000 students participated in Barclays Money Skills weeks, through a partnership scheme with the National Skills Academy for Financial Services. The learning weeks engage young people in money management issues, through events and tutorials at their local college, to develop their financial knowledge and skills. Barclays employees play an important role, by helping facilitate the sessions and by sharing their professional expertise in the tutorials and workshops, as well as talking about their experiences with students interested in a career in the finance industry.
Luke Jooste, education sector Bank head explains: "Barclays spent time with recognised experts from the sector to understand whether we could support education on a broader scale. Through those discussions, it became clear that Barclays’ people, capabilities and scale in the UK were well placed to support some of the needs of the schools involved, so we put together a proposal that we took to the secretary of state-which is largely what we have now launched". Jooste insists Barclays’ increased involvement comes from an educational, rather than a brand marketing need. “This is a Department for Education initiative, not a Barclay’s initiative. We have found the right way for us to support the educational reform movement and we are happy to have found a way to contribute that the schools told us would be highly valuable. But this only works if it is led by the government. We have absolutely no intention of using this as an opportunity to promote Barclays,” he claims.
The National Union of Teachers in UK still has reservations about brand involvement, but Jooste is insistent that all control remains with the frontline educators. “Nothing from this programme will be put to use unless the administration of a particular school is comfortable that it will be beneficial to their pupils,” he says. “The relevant administrators and teachers will determine the precise execution at any given school, so there is no chance that the educational integrity of what those schools are doing could be compromised.”
The return on investment for Barclays is clearly a long-term strategy, with any immediate benefits being largely in the CSR domain. The bank has in place a number of soft metrics in the short term to determine the project’s success, including the amount of material downloaded to support in-class learning and the number of schoolchildren who acquire money-management skills. Jooste adds: “Over the long term, of course, we will be looking for signs that the schools and students we have supported through this initiative achieve more as a result of our engagement. That will, of course, be difficult to prove analytically, but we will watch for even qualitative signs.”
Is that a challenging idea for Banking organizations and education publics?
Thinking and acting Marketing helps...
Sunday 26 February 2012
Thursday 23 February 2012
Best Retail Brands 2012
I have got something good for you today. Research pays off. This is the list of Best Retail Brands 2012. The list details acheivements of the Best US, UK, German, French, Spanish and Asian Retail Brands.
Interbrand started in 1974 when the world still thought of brands as just another word for logo. Jez Frampton - the Global Chief Executive of Interbrand claims "We have changed the world’s view of branding and brand management by creating and managing brands as valuable business assets".
Interbrand started in 1974 when the world still thought of brands as just another word for logo. Jez Frampton - the Global Chief Executive of Interbrand claims "We have changed the world’s view of branding and brand management by creating and managing brands as valuable business assets".
Wednesday 22 February 2012
The Marketing Relevance Imperative
Peter DeLegge claims that confronting an ad-averse audience, how have major advertisers and ad agencies responded?
With more unwelcome, and in some cases underhanded, tactics – pandering ads, manipulative word-of-mouth campaigns, contracts that require a publisher to pull their ads if the publication prints a negative editorial about them...
As Marketers, we’re all in the same boat: how do you get heard above the din?
Where do you go,
What do you do, when the volume’s already at maximum 10?
Well, if you have the clout – and believe “He who succeeds shouts the loudest” – you:
- Run something shocking at a moment of maximum exposure,
- Try to control (i.e., threaten) the presumably impartial media,
- Claim it’s in all the service of branding.
Is that all ethical?
In my opinion no. We are ALL RESPONSIBLE for setting the rules of the game.
We cannot avoid to be legacy marketers. After all, what counts most is trust and rapport that you incorporate in your buyer - seller relationship. This is primarily one of the reasons that transactional type of Marketing is long overdue.
With more unwelcome, and in some cases underhanded, tactics – pandering ads, manipulative word-of-mouth campaigns, contracts that require a publisher to pull their ads if the publication prints a negative editorial about them...
As Marketers, we’re all in the same boat: how do you get heard above the din?
Where do you go,
What do you do, when the volume’s already at maximum 10?
Well, if you have the clout – and believe “He who succeeds shouts the loudest” – you:
- Run something shocking at a moment of maximum exposure,
- Try to control (i.e., threaten) the presumably impartial media,
- Claim it’s in all the service of branding.
Is that all ethical?
In my opinion no. We are ALL RESPONSIBLE for setting the rules of the game.
We cannot avoid to be legacy marketers. After all, what counts most is trust and rapport that you incorporate in your buyer - seller relationship. This is primarily one of the reasons that transactional type of Marketing is long overdue.
Characteristics of B2B Marketing
It might sound doubtful to readers but Marketing theory produces a list of characteristics for Business to Business Marketing.
In my opinion, the more advanced the Marketing intelligence systems, the more complex the business, human relationships, the more we will be focusing on making these "moments of truth" during the encounter service between the buyer and the supplier, more unique, more trustful oriented, more performance oriented. For the sake of the discussion, let's start to list the B2B Marketing approach characteristics:
1) Nature and size of customers: Typically, we have a small number of potential customers, each customer therefore turns to very significant account.
2) Complexity of buying: The Buying process is more complex, as well as the number of people involved in process.
3) Choice Criteria: The customer may have economic and technical choice/ selection criteria, as well as ones similar to end-users.
4) The Risks: The Contracts of agreement between the buyer and the seller are often signed before a product is made. Any assumptions made can be damaging for budgeting / expenses incurred in the process.
5) Buying fits specific requirements: We usually have precise requirements for incorporation into eventual product – or narrowly defined market research or advertising brief.
6) Reciprocal buyig: Organizatiosn are partners, probably selling to each other or even develop R&D for each other. Such a business proposal links future expectations and performance outcomes.
7) Derived Demand: Demand is passed back up the supply chain. For example, the demand for iPods increases the demand for small hard-drives.
8) Negotiations: Prices and conditions of sales are determined by negotiations.
These characteristics of B2B Marketing business approach simultaneously reflect on corporate Marketing strategies and implementation best practices.
In my opinion, the more advanced the Marketing intelligence systems, the more complex the business, human relationships, the more we will be focusing on making these "moments of truth" during the encounter service between the buyer and the supplier, more unique, more trustful oriented, more performance oriented. For the sake of the discussion, let's start to list the B2B Marketing approach characteristics:
1) Nature and size of customers: Typically, we have a small number of potential customers, each customer therefore turns to very significant account.
2) Complexity of buying: The Buying process is more complex, as well as the number of people involved in process.
3) Choice Criteria: The customer may have economic and technical choice/ selection criteria, as well as ones similar to end-users.
4) The Risks: The Contracts of agreement between the buyer and the seller are often signed before a product is made. Any assumptions made can be damaging for budgeting / expenses incurred in the process.
5) Buying fits specific requirements: We usually have precise requirements for incorporation into eventual product – or narrowly defined market research or advertising brief.
6) Reciprocal buyig: Organizatiosn are partners, probably selling to each other or even develop R&D for each other. Such a business proposal links future expectations and performance outcomes.
7) Derived Demand: Demand is passed back up the supply chain. For example, the demand for iPods increases the demand for small hard-drives.
8) Negotiations: Prices and conditions of sales are determined by negotiations.
These characteristics of B2B Marketing business approach simultaneously reflect on corporate Marketing strategies and implementation best practices.
Thursday 16 February 2012
Axe anarchy commercial - do we need ethics in marketing?
Do we need ethics in Marketing and communication is a question that bothers me most in modern, integrated communications. Clearly, the role of Marketing is to attract attention and this is what the new commercial campaign aims to accomplish. The Brand - with a soulmate, love music background truly appeals to love at first sight that eventually causes chaos everywhere and around them.
How about this specific commercial presented allover in Athens Metro, the www.yahoo.gr wall paper and other media with the following logo:
Axe - New Axe Anarchy for him and for her - Causes Chaos. This is obviously the case of a global brand campaign launched simultaneously to the days of riots, anarchy and chaos in Athens, Greece (last week-end).
Is this irresponsible advertising or a sign of our times?
Where is the ethics part for the Athenians that travel downtown by the Metro to observe burned neoclassic buildings, vandalisms and devastation in parallel to the launch of the specific commercial. What are the hidden connotations for the inhabitants of a city that has paid so much Chaos and Anarchy?
I resent to such business practices. In my opinion, we need to be careful in localization of global Marketing Management and pay attention to timing. One might say, well this business my friend. We are publishing for profits and market share development. True, however we need to pay close attention to local environments.
Tuesday 14 February 2012
Unilever: “Marketing needs to be noble again”
Marc Mathieu, senior vice-president of Marketing at Unilever Group and the architect of its recently introduced “crafting brands for life” marketing strategy, believes that marketers should get back to the origins of the discipline as a way to drive social progress as well as sales.
He says:"In the last few decades of the 20th century Marketing has become selling for the sake of selling, but at its inception, marketing was inspired by the Henry Fords, the William Levers of the world - people with a vision to bring products to people that could create progress and improve lives".
My opinion is that Marketing is a profession that a competive organization cannot simply live without. It is all about peoples' creative minds that make a substantiated differentiation and as such a successful brand of tomorrow largely depends on creativity, adaptability and need for change.
He says:"In the last few decades of the 20th century Marketing has become selling for the sake of selling, but at its inception, marketing was inspired by the Henry Fords, the William Levers of the world - people with a vision to bring products to people that could create progress and improve lives".
My opinion is that Marketing is a profession that a competive organization cannot simply live without. It is all about peoples' creative minds that make a substantiated differentiation and as such a successful brand of tomorrow largely depends on creativity, adaptability and need for change.
Monday 13 February 2012
Thursday 9 February 2012
Internal Marketing Orientation
Internal Marketing is best defined as "training, motivating and communicating with staff to cause them to work effectively in providing customer satisfaction; more recently the term has been expanded to include marketing to all staff with the aim of achieving the acceptance of marketing ideas and plans" Jobber, (2007).
Berry et al. (1976) were the first academics that first introduced the notion. Since its introduction, the term has been used to describe the use of marketing techniques to align the service operations of an organisation with the needs of customers. A prevalent view amongst internal marketing scholars is that satisfying service employees is integral to delivering quality services; consequently, employees are a legitimate focus of internal marketing activities.
However, isn't that the notion of a sound Human Resources Management and Development operationalization?
Do in other words Strategists - Marketers plan to integrate - align HRM in their corporate activities ?
Berry et al. (1976) were the first academics that first introduced the notion. Since its introduction, the term has been used to describe the use of marketing techniques to align the service operations of an organisation with the needs of customers. A prevalent view amongst internal marketing scholars is that satisfying service employees is integral to delivering quality services; consequently, employees are a legitimate focus of internal marketing activities.
However, isn't that the notion of a sound Human Resources Management and Development operationalization?
Do in other words Strategists - Marketers plan to integrate - align HRM in their corporate activities ?
Market entry strategies - the pioneer takes it all?
Undeniably, a strong competitive as well as differential advantage accrues from a "Pioneer Market entry strategy". Some of the potential sources of success for an innovative, pioneering firm with a clear Marketing orientation are briefly summarized as below:
A) The firm's Marketing management has a first choice of market segments,targets and positions. Most pragmatically, we live in a competitive, saturated business world. Saturation could be best defined as few players controlling a large percentage of the market or too many players controlling small bits and pieces of a market. A pioneer firm has the "once and for all" opportunity to develop product-service business offerings with attributes most significant to the largest customer segment of the market. Moreover, a pioneering firm is able to promote the critical attributes that favor its brand. In this sense, such a firm may create a substantial competitive / differential advantage regarding equally active firms for a long period of time.
B) A pioneer firm sets the rules of the game regarding a broad scale of Marketing best practices (for example: development of unique distribution network, pricing schemes). This is indeed a hard business reality for following firms. The pioneer, innovative firm truly sets the benchmarks for everyone else to follow in the long run. No doubt, customers listen first to the experts - pioneers that have invested financial and human resources addressing their needs and wants.
C) There are considerable financial benefits for the pioneering firm. Clearly, the market pioneer firm can gain accumulated sales and hence considerable return on investment (for example: market share in volumes and values) and experience and thereby decrease per unit expenses faster than the following firms.
A) The firm's Marketing management has a first choice of market segments,targets and positions. Most pragmatically, we live in a competitive, saturated business world. Saturation could be best defined as few players controlling a large percentage of the market or too many players controlling small bits and pieces of a market. A pioneer firm has the "once and for all" opportunity to develop product-service business offerings with attributes most significant to the largest customer segment of the market. Moreover, a pioneering firm is able to promote the critical attributes that favor its brand. In this sense, such a firm may create a substantial competitive / differential advantage regarding equally active firms for a long period of time.
B) A pioneer firm sets the rules of the game regarding a broad scale of Marketing best practices (for example: development of unique distribution network, pricing schemes). This is indeed a hard business reality for following firms. The pioneer, innovative firm truly sets the benchmarks for everyone else to follow in the long run. No doubt, customers listen first to the experts - pioneers that have invested financial and human resources addressing their needs and wants.
C) There are considerable financial benefits for the pioneering firm. Clearly, the market pioneer firm can gain accumulated sales and hence considerable return on investment (for example: market share in volumes and values) and experience and thereby decrease per unit expenses faster than the following firms.
Monday 6 February 2012
The Consumer decision-making process
In understanding customers a behavioural approach views the consumer decision-making process as a problem-solving or need-satisfaction process.
According to Blackwell et. al., (2003) consumers may eventually pass or in some cases by-pass through series of steps in deciding which product/service solution may adequately satisfy their needs. In this respect, a consumer goes fast through the decision-making process steps namely: Need identification / Problem awareness, Information gathering and Evaluation of alternative proposed solutions.
These are exactly the stages, that Marketing management identifies and establishes, maintains and enhances and when necessary terminates relationships with customers and other stakeholders, at a profit, so that the objectives of all parties are met, and that this is done by a mutual exchange and fulfilment of promises” Grönroos, (1994).
In fully claryfing the RM paradigm two major academics Tzokas and Saren, (1996) have contributed with a sound Relationship Marketing definition. In their view, "RM is the process of planning, developing and nurturing a Relationship climate that will promote a dialogue between a firm and its customers which aims to imbue an understanding, confidence and respect of each others’ capabilities and concerns when enacting their role in the market place and in society".
Clearly, a relational-oriented firm focusing systematically on the initiation of such a dynamic and reflective relationship climate makes the customer decision-making process regarding the selection of the appropriate product/service solution a product of effective concensus between sales consultants and buyers.
According to Blackwell et. al., (2003) consumers may eventually pass or in some cases by-pass through series of steps in deciding which product/service solution may adequately satisfy their needs. In this respect, a consumer goes fast through the decision-making process steps namely: Need identification / Problem awareness, Information gathering and Evaluation of alternative proposed solutions.
These are exactly the stages, that Marketing management identifies and establishes, maintains and enhances and when necessary terminates relationships with customers and other stakeholders, at a profit, so that the objectives of all parties are met, and that this is done by a mutual exchange and fulfilment of promises” Grönroos, (1994).
In fully claryfing the RM paradigm two major academics Tzokas and Saren, (1996) have contributed with a sound Relationship Marketing definition. In their view, "RM is the process of planning, developing and nurturing a Relationship climate that will promote a dialogue between a firm and its customers which aims to imbue an understanding, confidence and respect of each others’ capabilities and concerns when enacting their role in the market place and in society".
Clearly, a relational-oriented firm focusing systematically on the initiation of such a dynamic and reflective relationship climate makes the customer decision-making process regarding the selection of the appropriate product/service solution a product of effective concensus between sales consultants and buyers.
Sunday 5 February 2012
How does Consumer Behaviour changes in a recession
A different view by a Marketing Expert - Rory Sutherland, Vice-Chairman, Ogilvy Group UK!!
Understanding Customers
The buyers' behaviour towards brands/product groups is a major issue of concern for Marketers in a largely competitive environment.
This is even more the case during a strong recession period that the Greek Socio-economic structure goes through. We have learned by theory that understanding customers goes through a number of questions and a number of phases. Primarily, in forming a sound Marketing strategy Marketers should give realistic, validated answers to the following generic questions:
What are customers' choice criteria?
How do customers buy?
When do customers buy?
Where do customers buy?
In justifying theory and according to Horton (1984) there are three stages of learning that customers/buyers normally progress sequentially. It is significant to answer if these three stages still exist in an economic environment where strong recession prevails (for example: Greece, Portugal, Spain and Ireland).
A) Routinized Response Behaviour. In implementing buying decisions in a routinized almost automatic way, the buyer must have "fully" (e.g. Knows enough, through application of corporate integrated communication to make acceptable purchases with no major effort) learned both the product group and the alternative, existing brands that would give them an almost instant purchasing decision.
Ultimately, this is the "good scenario" for the striving Marketer or maybe not?
In my understanding such a buyer's behaviour may cause trouble since Marketing management is somehow left in inertia. The creative part of Marketing is not present but Shareholders might be happy with Short Term financial goals accomplishment. This is more the case in recession periods. In my opinion, RRB does not lead anywhere.
B) Limited Problem Solving. In LPS the buyer has a product group concept that is well learned but inadequate brand concepts, so that further information is required before any purchase.
Do we desire to go through LPS?
Yes, we want "educated", Long-Term, loyal and commited customers.
Yes, we want people to select our brands with significant concept attainment.
In this sense, I suggest the adoption of strong co-creation and satisfaction of customer's needs and wants through the initiation of Relationship Marketing applications and practices. The role of Sales-Reps in this scenario becomes imperative for success. The communication practices shift to more of a Service-Dominant approach, instead of the Transactional Goods-Dominant approach (Vargo and Lusch, 2004, 2009).
C) Extensive Problem Solving. In EPS the buyer does not have a clearly defined product group. There is not even an established product group concept that the customer could eventually evaluate and conclude on purchase amongst different brand offers. This is another case that Relationship Marketing practices are needed. The customer should have a tailored-made corporate support where service quality is of outmost significance.
One may say that EPS presents significant obstacles to effective communication between bueyr and seller. True, we should consider though other patterns of communication (for example: social networks are now critical in bringing decision making information to customers in literally no time).
In concluding, according to theory there are three different learning stages that elicit different buyers' purchasing behaviour. It really worth the effort developing the necessary Marketing ammunition in tackling complex purchasing situations. The recession is in fact an era that competitive firms should reconsider Marketing strategies and tactics.
This is even more the case during a strong recession period that the Greek Socio-economic structure goes through. We have learned by theory that understanding customers goes through a number of questions and a number of phases. Primarily, in forming a sound Marketing strategy Marketers should give realistic, validated answers to the following generic questions:
What are customers' choice criteria?
How do customers buy?
When do customers buy?
Where do customers buy?
In justifying theory and according to Horton (1984) there are three stages of learning that customers/buyers normally progress sequentially. It is significant to answer if these three stages still exist in an economic environment where strong recession prevails (for example: Greece, Portugal, Spain and Ireland).
A) Routinized Response Behaviour. In implementing buying decisions in a routinized almost automatic way, the buyer must have "fully" (e.g. Knows enough, through application of corporate integrated communication to make acceptable purchases with no major effort) learned both the product group and the alternative, existing brands that would give them an almost instant purchasing decision.
Ultimately, this is the "good scenario" for the striving Marketer or maybe not?
In my understanding such a buyer's behaviour may cause trouble since Marketing management is somehow left in inertia. The creative part of Marketing is not present but Shareholders might be happy with Short Term financial goals accomplishment. This is more the case in recession periods. In my opinion, RRB does not lead anywhere.
B) Limited Problem Solving. In LPS the buyer has a product group concept that is well learned but inadequate brand concepts, so that further information is required before any purchase.
Do we desire to go through LPS?
Yes, we want "educated", Long-Term, loyal and commited customers.
Yes, we want people to select our brands with significant concept attainment.
In this sense, I suggest the adoption of strong co-creation and satisfaction of customer's needs and wants through the initiation of Relationship Marketing applications and practices. The role of Sales-Reps in this scenario becomes imperative for success. The communication practices shift to more of a Service-Dominant approach, instead of the Transactional Goods-Dominant approach (Vargo and Lusch, 2004, 2009).
C) Extensive Problem Solving. In EPS the buyer does not have a clearly defined product group. There is not even an established product group concept that the customer could eventually evaluate and conclude on purchase amongst different brand offers. This is another case that Relationship Marketing practices are needed. The customer should have a tailored-made corporate support where service quality is of outmost significance.
One may say that EPS presents significant obstacles to effective communication between bueyr and seller. True, we should consider though other patterns of communication (for example: social networks are now critical in bringing decision making information to customers in literally no time).
In concluding, according to theory there are three different learning stages that elicit different buyers' purchasing behaviour. It really worth the effort developing the necessary Marketing ammunition in tackling complex purchasing situations. The recession is in fact an era that competitive firms should reconsider Marketing strategies and tactics.
Friday 3 February 2012
Developing an "environmental set"
What is a corporate "environmental set"?
The organisations that make-up a firm’s micro-environment are referred to as the “environmental set”. Most fundamentally, the environmental set of a customer-oriented firm is truly dynamic since membership and relationships between them change over time, hence the need for continuous environmental scanning and effective use of marketing intelligence.
In this sense, marketing intelligence practices (e.g. adoption and implementation of Customer Relationship Management ) becomes essential for sound marketing practices for all existing and potential "customers".
We should not forget, that all existing and potential organizations within our environmental set are prospective customers. For example, the adoption and implementation of sound CRM systems assists Marketing management in optimizing profitability, revenue and customer satisfaction by organizing the enterprise around customer segments, fostering customer-centric behaviors and implementing customer-centric processes (Gartner, 2004).
In view of the evolving and dynamic business relationships, Marketing management of a customer-centric firm serves more than the direct consumer market - as a selected market of choice. A firm equally serves business markets, reseller markets (e.g. distribution channels management) and even Government influence markets.
The organisations that make-up a firm’s micro-environment are referred to as the “environmental set”. Most fundamentally, the environmental set of a customer-oriented firm is truly dynamic since membership and relationships between them change over time, hence the need for continuous environmental scanning and effective use of marketing intelligence.
In this sense, marketing intelligence practices (e.g. adoption and implementation of Customer Relationship Management ) becomes essential for sound marketing practices for all existing and potential "customers".
We should not forget, that all existing and potential organizations within our environmental set are prospective customers. For example, the adoption and implementation of sound CRM systems assists Marketing management in optimizing profitability, revenue and customer satisfaction by organizing the enterprise around customer segments, fostering customer-centric behaviors and implementing customer-centric processes (Gartner, 2004).
In view of the evolving and dynamic business relationships, Marketing management of a customer-centric firm serves more than the direct consumer market - as a selected market of choice. A firm equally serves business markets, reseller markets (e.g. distribution channels management) and even Government influence markets.
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