From Knowledge@Wharton – “Traditional marketing has been taking it on the chin for a couple of years now as consumers show they value as far more authentic the product and service recommendations they receive from those they know, especially via social media. In this opinion piece, Curtis Hougland, co-founder of Ideaology, a not-for-profit social media agency for social good, notes that the rise of Ad Blocker is symbolic of the tectonic shift in advertising and marketing now underway.”
Fresh Pick of the Day, November 13, 2015: “Imagine There’s No Marketing …’It’s Easy If You Try'” from Knowledge@Wharton
From Inc Magazine – “The Financial Times and McKinsey & Co. have collaborated for their eleventh annual Business Book Awards… This year’s top business books come from journalists, economists, and academics and explore the opportunities and dangers presented by rapidly changing technology — from the first full-length biography of tech mogul Elon Musk to the ways robots could replace workers in industries around the world. The Financial Times will announce the finalists in September and this year’s No. 1 pick in November, but in the meantime, here’s some reading to catch up on. “
Sept 15, 2015 – From Business Rhythm with Frank and Jamie
How do you sell your ideas and products?
Jamie: Let’s say you are a nutritionist, and you carry the mission to promote health through proper diet and healthy habits. You do so by providing advice, educating people, and at times, by selling vitamins and supplements. Your effectiveness to fulfill your mission depends on your ability to influence people to practice healthy eating habits to maintain good health and to address health problems.
There is no doubt that your task as a nutrition professional requires Leadership to influence people around you, namely, clients, colleagues, friends, and family members toward improvement in health and wellness. But how do you influence people toward health and wellness?
Frank: Your best bet is to apply the following method of influencing as written in the book Influence by Robert Cialdini:
First, be Likable. If people like you, people will buy your ideas and any products that you promote. Human nature tells us that people must first buy You as a person before they will follow your ideas or buy your products. Gestures such as providing compliments, showing interest in other people, and dressing up to look good all contribute to increase likability.
Jamie: Second, cite Other People who follow your ideas and use your products. People are more likely to follow you if they see other people following your advice or using the products. Mentioning the number of people already using the product, or citing examples of other people your clients know will help improve the chances of customer buying the product. Psychologists call this phenomenon Social Proof.
Frank: Third, use Authority to support your ideas and product. We know that a prescription from doctor, an example of an authority in the medical field, is a powerful tool for patients to take medicine or follow suggested changes in the patients’ lifestyle.
Similarly, nutritionists can use authority in the nutrition space to improve their effectiveness. For example, citing respectable people who follow proper nutritional practices or use your prescribed products provides credibility to your ideas and encourages people to follow you. Citing studies or statistics to support practices and use of products is another powerful way to advance your ideas and products.
Jamie: These three points which are based on solid research made by Robert Cialdini can help you become a better influencer.
Frank: Best of all, these principles are available to all, and apply to all types of context and situation that calls for influencing.
Jamie: Please visit our site businessmango.org for more insights on leadership, finance, marketing and innovation. Business Rhythm is available in iTunes, Stitcher Radio, TuneIn Radio, Windows and all Android podcast players. If you need advice on business or management issues, please email us at firstname.lastname@example.org.
From Nikkei Asian Review- “Consumer spending in emerging economies along the Mekong River is thriving, and retailers from around Asia are keen to get their foot in the door. After decades in the doldrums, Cambodia, Laos, Myanmar and Vietnam are all enjoying robust growth and rising incomes. The planned economic integration of the Association of Southeast Asian Nations, scheduled to kick off by the end of this year, is giving retailers another reason to expand into the region.”
From Business Rhythm with Frank & Jamie- “Globally the size of beauty and cosmetics manufacturing is about $255 billion, according to IBIS World. The industry consists of hair care products, skin care products, cosmetics, perfumes, deodorants, nail products, and oral hygiene products. Crude oil represents a key input ingredient for this industry. The top markets are Europe, North America, and North Asia.”
From Business Rhythm with Frank and Jamie – There are many elements that make a retail store, or an online store, successful. For most shoppers, the “wow experience” lies in the retailer’s “big idea.”
“In today’s episode, we will talk about the demographic and consumer behavior changes that are happening in the global market. These changes will continue over the next 10 to 15 years and will have profound implications on business and finance. Businesses that pay attention to these changes can prepare themselves to adapt to the new situation and keep their products and services relevant. The changes can present new opportunities for businesses through innovations in products and services.”
From Knowledge@Wharton – “Brands that take bigger risks are reaping bigger rewards — especially in the digital space — and positively impacting brand metrics and sales.”