5b What is Big Data

To continue to enhance enterprise value, digitization is an indispensable part. Digitization copies the real world into the digital world for analysis and simulation to obtain relevant useful information and then feed back to the real world. The speed of virtual reality of business ideas is rapidly increasing. Therefore, the key to digital is to continually focus on optimizing and improving, however, the key to optimization and improvement is Big Data analysis.

What is “Big Data”?

Big data refers to a collection of data that the scales beyond the capabilities of traditional database software tools in terms of acquisition, storage, management and analysis (TechAmerica Foundation’s Federal Big Data Commission, 2012). It is a high growth and diverse information asset (Gartner IT Glossary，n.d). By the new and efficient mode processing, big data can demonstrate the greater capabilities of decision making, insight and process optimization. In addition, the role of big data is to extract meaningful content from the huge collection of data to create new value, and then collect the results in data form and apply it to specific operations. Fox example, enterprise use big data to analysis for understanding the consumer trend of customer to develop marketing strategies and define products.

The feature of Big data

Volume

The size of the data determines the value and potential information of the data being considered (Domingos and Hulten, 2000).  With the development of various portable devices, the Internet and cloud computing and storage technologies, all traces of people and things can be recorded, so the data is mass produced. People is the marker of big data. SMS, social media, photos, videos are all data products. In addition, data enable comes from countless automated sensors, automated recording facilities and inspection equipment. The channels of generating data are also relevant to human activities, such as credit card spending, ATMs. Parking toll collection systems, Internet clicks and various registration processes. Therefore, a large amount of automatically or manually produced data is aggregated to a specific location through the Internet to form a collection of data, including telecommunications carriers, Internet operators, governments, banks and shopping malls (Birney,2012).

Variety

Big data has variety of data types. In the era of big data, data formats have become more diverse. Including text. Audio, pictures, video and analog signals. The sources of data are also increasingly diverse. It is not only in all aspects of the internal operations of the organization but also from outside the organization (Chen et al., 2012, Kwon et al., 2014).  A various source of data is the embodiment of big data. For example, big data contain common data from different fields, enterprise can analyse the data to find valuable business information in relevant industries.

Velocity

Velocity refers to the speed of data collection and data analysis. In the business world, the importance of fast has been permeated throughout every aspect of business operations, management and decision making. Velocity is the biggest difference between big data processing technology and traditional data mining technology. In addition, big data is a solution characterized by real-time data processing and real-time results orientation. In other word, the reason why big data has velocity is because the data is depreciated and time-sensitive. Therefore, only the rapid collection and processing of data can reflect the value of the data.

Veracity

The importance of data is the support of enterprise decision making (Diebold, 2012). The size of the data does not determine whether it can help decision making, however, the authenticity of the data is an important factor in the company`s acquisition of ideas. This feature of big data is the most solid foundation for making successful decisions.

The value of Big data

The value of big data is reflected in the following aspects:

1. Enterprise is able to use big data for accurate product marketing.
2. Small businesses can leverage big data for service transformation.
3. Traditional enterprises that must be transformed in the face of Internet pressure can use big data for industrial transformation.

 

The trends of Big data

Big data resource

Big data will become a limited resource for enterprise to compete for, thus enterprise should develop marketing strategies through big data early.

Combine with the depth of cloud computing

Could computing processing provides flexible and salable infrastructure for big data and is one of the platforms for generating big data.

To sum up, big data has become an important issue for all types of conferences. Most of executives are reluctant to miss this emerging trend. There is no doubt that big data technology will certainly be adopted when enterprise in the future try to analyse existing mass information to drive value-added business.

 

 

 

 

Reference:

Birney, “The Making of ENCODE: Lessons for Big-Data Projects”, Nature, vol. 489, pp. 49-51, 2012.

F.X. Diebold, A personal perspective on the origin(s) and development of “big data”: The phenomenon, the term, and the discipline (Scholarly Paper No. ID 2202843), Social Science Research Network (2012), Retrieved from http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2202843

Gartner IT Glossary (n.d.). Retrieved from http://www.gartner.com/it-glossary/big-data/.

Chen, R.H.L. Chiang, V.C. Storey Business intelligence and analytics: From big data to big impact, MIS Quarterly, 36 (4) (2012), pp. 1165-1188

TechAmerica Foundation’s Federal Big Data Commission.Demystifying big data, (2012): A practical guide to transforming the business of Government, Retrieved from http://www.techamerica.org/Docs/fileManager.cfm?f=techamerica-bigdatareport-final.pdf

Domingos, G. Hulten, “Mining High-Speed Data Streams”, Proc. Sixth ACM SIGKDD Int’l Conf Knowledge Discovery and Data Mining (KDD ’00), pp. 71-80, 2000.

5a. Social Media Marketing for Sporting Gears

The development and application of Internet technology has made the speed of information dissemination constantly exceed people`s expectation. In addition, with the continuous upgrading of mobile devices, the frequency of use of social media has reached a new high level in people daily life. People spend a lot of time socializing, learning and understanding the world on social media every day. Therefore, it is a very effective strategy to promote business development by attracting customers through social media.

Social media can quickly promote enterprise`s products and build relationship with potential customers. For sporting gear online stores marketing, people should refer to the following social media marketing strategies:

Goal and target customer groups setting

Setting business goal is the first important step in all marketing activities. There is no doubt that improving customer attention and sales are the essence of social media marketing. In addition, enterprise must identify the target customer groups in order to targeted conduct product marketing (Chaffey et al, 2016). Because of the business of sporting gear, the enterprise should include sports enthusiasts in the target customer groups, such as fitness enthusiasts, ball sports enthusiasts and outdoor sports enthusiasts. Only when enterprise determines their target customer base can find a suitable social platform to promote the products.

Use multiple social media platforms

The choice of social media platform is also very important. Enterprise should choose several social platforms what are high usage rates for product promotion. Such as Fecabook, Twitter and Instagram (Gardiraju, 2016)

 

Interactive Marketing

Enterprise should invest in interacting with potential consumers and consumers on social media. Gaining their brand recognition and loyalty through Q&A sessions with consumers, reviews and news sharing. If the consumer`s emotional recognition is obtained, the consumer will promote the product on their platform.

Content marketing

The fast-paced life lead people have no time to browse the product advertisements on the social media. Enterprise should quietly plan the promotion of product in pictures, text or video. Interesting advertising content and unique product introductions can appeal to potential consumers (Franke et al, 2010). For example, taking a video of outdoor skiing sports to attract the attention of potential customer.

Celebrity effect marketing

Social media marketing naturally has the celebrity effect marketing. Social celebrities play a persuasive role in social media. Through the promotion with celebrities, the awareness and word of mouth of product can be quickly improved. For example, paid famous athletes to shoot advertisements for products and promote the products by their own social media account.

 

Social media marketing is a fast and effective marketing strategy at current stage. Enterprise should focus on interacting with potential consumers on social media platforms and attract users to become the potential customers by sharing interesting advertising videos.

 

 

 

 

 

 

Reference:

Brogan, C., 2010 Social media 101: Tactics and tips to develop your business online

John Wiley & Sons, Hoboken, NJ (2010)

Chaffey, D. Ellis-Chadwick, F 2016, Digital Marketing, Pearson. Weisberg E2016, Marketing goals example, viewed 8 September 2018

Franke and Schreier, N. Franke, M. Schreier. 2010, Why customers value self-designed products: The importance of process effort and enjoyment

Journal of Product Innovation Management, 27 (7) (2010), pp. 1020-1031

Gardiraju, GK. 2016, Impact of Social Media In Sporting Marketing. https://repositorio.iscte-iul.pt/bitstream/10071/14045/1/Master%20Thesis-%20Last%20Version.pdf

Analyse E-CRM activities of your favorite Australian TV show

E-CRM refers to the organization based on the convenience of acquisition and exchange of information on the Internet, to take full advantage of intelligent information processing technology to process a large amount of customer data into information and knowledge, to achieve seamless customer relationship, customer satisfaction, customer loyalty and maximizing the degree of income. (Chaffey et al, 2016) In other words, it is a process or system solution that improves customer satisfaction and business competition.

I will analyse the E-CRM on a high-audience rating TV show from China. This TV show named I am a singer that is a singing competition, and the show is produced one time every year. In the show, all the contestants are famous singers. Among them, some of them are from the mainland, and some are from other countries. Through 12 events, the audience selected a most favourite singer and the singer will be awarded the title of King of the Singer.

Obviously, the marketing goal of TV shows is to increase audience rating. When the audience rating of a show increases, its advertising title fee will naturally increase. Therefore, the hobby and needs of the audience are the key factors in TV program marketing. The E-CRM of I am a singer is reflected in the following aspects:

The most valuable singer produced in this TV show is directly determined by the audience. Therefore, the producer of the program selects the appropriate participating singer to participate in the next show by understanding the taste of the audience. This embodies targeting more cost effective (Chaffey et al, 2016), which is the performance of the singer can attract attention to watch the TV show.

The TV show itself is a large-scale information dissemination system. Through the promotion of the TV show, more audiences can know this program. This reflects that achieve mass customisation of the marketing information (Chaffey et al, 2016).

The result of the competition is determined by the way of audience votes. This approach increases the audience`s interest and participation. By this way, it is able to enhances the audience`s viewing experience while retaining the expectations for the next show.

When the show is able to retain the audience, the audience will naturally share this TV show on the social networking site and discuss related topics with other audience. This phenomenon is equivalent to free program dissemination, which can attract more new audiences. Therefore, it also reduces marketing costs (Chaffey et al, 2016).

 

References

Chaffey, D. Ellis-Chadwick, F 2016, Digital Marketing, Pearson. Weisberg E2016, Marketing goals example, viewed 8 September 2018

Briefly summarise the implications of the internet on each element of the marketing mix ( Consider 4 Ps)

With the continuous development of internet marketing, Internet applications have evolved from one kind of technology to one industry. Affected by internet technology, many companies have developed internet marketing business in order to maintain their competitiveness in the market. However, the 4Ps marketing mix is still the essence of the marketing strategy, the internet is just as a platform to promote the development of marketing. Based on the market economy being changed by internet marketing, a lot of companies are rethinking the impact of internet on the 4Ps marketing mix concept.

Implications of the internet on Product

The research on products in the traditional marketing mix is mainly core products and extended products. However, in the Internet age, the development trend of products is affected by the big data of the Internet (Kotler et al, 2001). Consumers` propensity to consume and consumer demand are fed back into the market by big data guidance. For marketers, they need to analyse consumer demand from big data to cater to consumer preferences. Therefore, enterprises will also study marketing strategies that are consistent with consumer spending habits based on the analysis of big data of Internet.

Implications of the internet on Price

Based on the characteristics of the internet marketing model, all companies have to publish the price of the product on the internet, and consumers can easily select the most suitable product by comparing different prices. As a result, companies cannot like previous define the price of the product in market based on product costs (Ailawadi et al, 2001). Therefore, in the internet age, companies not only refer to the cost of products and also know about competitors` price in formulating price strategies.

Implications of the internet on Place

The biggest implication of the internet on place is the direct elimination of the role of the middleman. Internet marketing makes enterprises and consumers directly contact: the company publishes the price of product on the internet, the consumer directly purchases products and completes the transaction through logistics. The development of e-commerce makes marketing transparent. Consumers can get lower prices on product and companies can also reduce marketing costs.

Implications of the internet on Promotion

Most of the past promotions what companies to send promotional information to consumers with via email and SMS, triggering consumer repurchases. However, this approach is not targeted, and blindly sending information increases marketing costs. Conversely, promotions built on the Internet can find the target consumers of the product through Internet technology to foster consumer brand loyalty. This is the purpose of Internet marketing.

 

References

Ailawadi, K.L., Lehmann, D.R. and Neslin, S.A. (2001), “Market Response to a Major Policy Change in the Marketing Mix: Learning from Procter & Gamble’s Value Pricing Strategy”. Journal of Marketing, Vol. 65 Issue 1, p44.

Bhatt G. and Emdad, A.F. (2001), “An analysis of the virtual chain in electronic commerce”, Logistics Information Management, Vol. 14, nr 1 – 2, pp. 78-85.

Chaffey, D. Ellis-Chadwick, F 2016, Digital Marketing, Pearson. Weisberg E2016, Marketing goals example, viewed 8 September 2018

Diminici.Gandolfo, From Marketing Mix to E- Marketing Mix: a literature overview and Classification, International Journal of Business and Management, Vol.4, No.9, 2009

3b. ‘Setting long-term strategic objectives for a website is unrealistic since the rate of change in the marketplace is so rapid’. Discuss.

With the popularity and development of internet technology applications, the advantages and value of the network have been recognized by enterprises in various fields of society (Chaffey et al, 2016). At the same time, digital marketing has become a hot topic in current marketing theory research and corporate practice. However, setting a long-term strategic objectives for a website is unrealistic.

First of all, political forces is a factor of great influence on digital marketing. Political risks often influence the trend of the market economy, the internet market is no exception. Political risks can directly determine the demand for internet service. For example, a company spends a lot of money on advertising in Google and has developed the five years marketing strategy for online marketing. However, due to the emergence of new political forces, Google was banned from operating in the country.

Secondly, the high-speed dissemination of information in the internet has made customer`s hobbies constantly changing. To survive, companies have to redefine customer needs even change the business models. Therefore, the long-term strategic objectives of the company will constantly change with the needs of customers.

Thirdly, the pressure given by competitors will also force companies to adjust their strategies. Innovation is the best way to stay competitive, especially in internet marketing which is the fast consumption model. For example, when many competitors compete on the prices of product, the company should not only keep the price consistent but also reduce delivery fee. As a result, the company`s initial long-term strategic objectives will be changed.

However, it is undeniable that developing a strategic plan is necessary for companies to succeed. Companies can set short-term strategic objectives for their websites to continually stabilize the market position.

To sum up, internet marketing must take into account that the digital environment is dynamic, and it will change at any time based on external factors. Organizations should always promote strategic agility rather than setting a long-term strategic objectives for online marketing (Chaffey et al, 2016), for the rate of change in the marketplace is so rapid.

 

 

References

Chaffey, D. Ellis-Chadwick, F 2016, Digital Marketing, Pearson. Weisberg E2016, Marketing goals example, viewed 8 September 2018

3a Mini case study

In an era when the internet is maturing and being given multiple definitions, the biggest difference between modern business models and traditional business models is the redefinition of customer value rather than the cost and scale of the company. An enterprise`s business model represents the understanding of company of how to create customer value and company value. More importantly, innovation is the driving force for companies to remain competitive. Business model innovation is a series of activities designed to enhance customer value and corporate competitiveness.

DJI-innovations founded in 2006 that is a leading global developer and manufacturer of UAV control systems and solutions through 10 years of continuous efforts. It occupies 70% of the world of UAV market. The sales in DJI increased two to three times every year from 2009 to 2014, the annual sales amount of DJI reached 500 million US dollars in 2014. Today, DJI has become a company with a valuation of 10 billion US dollars.

.The UAV previously was mainly applied in the military, the DJI applied it to the commercial field through innovation and research and development of new products. Phantom pro as a new product can be used for aerial photography, remote sensing mapping, forest fire prevention, search and rescue, film and television advertising. It is worth mentioning that in 2015, DJI once again decided to invest in an unnamed plant protection UAV production company through business model innovation. The reason why DJI invested in this company because the company has a wealth of experience in the production and operation of agricultural UAV. In addition, investing in this small company allows DJI to quickly participate in the market of agricultural UAV. Since then, DJI has once again easily occupied the market of agricultural UAV. DJI Group through continuously changed its business model to make the target user of the UAV market from amateurs to mainstream users.

In addition, DJI has now almost monopolized the market of UAV all of the world. They can carry out the next business model innovation, which build the UAV into a hardware platform to attract software developers to cooperate with them. For example, the UAV is like a smartphone, any addition of software engineering can increase the variety of functions used by UAV. It can make customer experience of the UAV more abundant.

To sum up, continuous innovation in business models can keep the competitive of DJI in the market of UAV.

 

 

References

https://www.dji.com/company?site=brandsite&from=footer

[IMAGE] Available at: https://www.aeromotus.com/news/the-future-plans-of-dji-the-main-strategy-of-their-development/

[IMAGE] Available at: https://www.dji.com/

Blog entry 2b

https://www.youtube.com/watch?v=JPjWBA5Bz1Q&feature=youtu.be

This video I shot that shows the Unilodge Multicultural Festival at the University of Canberra in 2018. Students from all over the world showcase their cultural goods and cate here. Everyone is enjoying this event.

Blog entry 2a

The internet industry has evolved into the most promising and competitive industries, such as e-commerce, portals, search engines and some online shopping malls like Ebay. User satisfaction and repurchase rates for these industries are the main research targets. Therefore, online customer experiences is the core competency of online business (Thomas et al, 2000).

Online customer experiences refers to the customer`s experience of the operation and service of the website during the process of customer purchasing goods or using certain online services. The customer experiences is the impression and feeling that the customer generates based on their interaction with the company. It gives the customer a strong psychological feeling of value. A good customer experiences helps the company to continuously improve its products or services (Thomas et al, 2000). By improving the online customer experiences what is paying attention to every contact with customers, improving website construction and strengthening online sales and online after-sales service, this can achieve customer loyalty and enhance perceived value, thereby increasing the online repurchase rate.

So far, the reason why the conversion rate of bricks and mortar store is still higher than online stores because it provides customers with face-to-face shopping guides and touches or trials of produces. Therefore, I will discuss the impact of some antecedents of online customer experiences on the final purchase results of customer based on the framework of Rose and Hair with my own experience.

According to the framework of Rose and Hair, the repurchase of online shopping customer is largely determined by the satisfaction of the shopping experience and the online customer experience. In addition, the online customer experience includes the customer`s cognitive and emotional states, which are subject to a number of antecedents.

Information processing is the first important elements in the antecedent of online customer experience. It has a great influence on the affective state of the customer. If the information processing of a shopping website is not advanced enough, the information classification in not clear and the linking process is complicated, it will cause me to lose patience to browse the webpage. For example, the online store of Nike has classified all products on the website, I can quickly browse the production according to gender, age and specific product type.

Perceived ease-of-use, perceived usefulness, perceived benefits and perceived control relate to the cognitive state of the customer. Simple page manipulation and control will make me happy and willing to browse more products (Chen and Dubinsky 2003; Cheung et al. 2005; Cho and Park 2001). The useful information was recommended to me by seamlessly, which made me feel that the site was helpful for my shopping (Cao et al. 2005; Geffen, 2003; Geffen et al. 2003).

Skill is also relate to the cognitive state of the customer. Good communication skill can have a clearly communication with online customer services, it can quickly solve my problems in the shopping process. In addition, I can learn a lot of other aspects of digital skills through online shopping. Moreover, customers with a high level of internet usage skills and experience is able to enjoy a more high level of online customer experience (Lehto et al, 2006).

Trust propensity and perceived risk relate to affective state of customer. When I complete my online shopping, I will not worry about my personal information being leaked and my goods being lost during the delivery process. This is the good online customer experience.

Enjoyment is also affective state of customer. If I really enjoy shopping on this website, it means that my online customer experience is very good.

It is not easy to give customers a perfect customer experience, especially online business. How to improve the online customer experience is a key factor that internet companies should focus on. Firstly, understand the target customer base. Master the customer`s shopping mentality and the way they like to communicate. Secondly, the service must be combined with the brand. Companies should be loyal to their brands, supporting the brand value when providing quality of customer service. In addition, encourage customers to understand their brand by promoting brand value. Finally, strengthen online customer feedback system. Customer review or evaluation to the product are important source of information for corporate self-improvement. It is worth mentioning that a good customer review also is equivalent to free advertising.

 

 

 

References

Cao, M., Zhang, Q. and Seydel, J. (2005). B2C e‐commerce web site quality: an empirical examination. Industrial Management & Data Systems, 105, pp. 645–661.

Chen, Z. and Dubinsky, A.J. (2003). A conceptual model of perceived customer value in e‐commerce: a preliminary investigation. Psychology and Marketing, 20, pp. 323–347.

Lehto, X.Y., Kim, D.‐Y. and Morrison, A.M. (2006). The effect of prior destination experience on online information search behaviour. Tourism and Hospitality Research, 6, pp. 160–178.

Thomas P. Novak, Donna L. Hoffman, Yiu-Fai Yung, Measuring the Customer Experience in Online Environments: A Structural Modeling Approach,. MARKETING SCIENCE, February 2000, Volume 19, Issue 1, pp 1-104.

Blog Entry 1. 1b

I choose the NIKE.com to demonstrate the 5Is of Internet Marketing.

Interactivity

This website presents all product categories with the textual link like “MEN”, “WOMEN”, and “BOYS”. Customers can select more detailed by clicking on these text or images. The search engines can find specific products more quickly. “Get Help” can solve customer problems online.

Intelligence

Hot products can be displayed directly in the “Favourites” option, customers will be able to select products based on product sales rankings. Moreover, when customers choose one product, the system will automatically picks up a few similar products for customers to select with “YOU MAY ALSO LIKE”.

Individualization

NIKE ID is a company-specific product program that allows customers to design some new product online. Customers can choose the colour and materials they like in the order and submit it to the website, after then the factory will complete this product. However, ID products will play more.

Integration

NIKE Company promotes its products through social networking sites such as Twitter and Facebook. They promoted some products, corporate culture and new concepts through some video and stars posters, for occupying the market in this way.

Industry restructuring

NIKE emphasizes its own code of conduct and ethical standards. The company articulated its own selection criteria for suppliers and requirements for potential business partners. In addition, reflecting the trend of industry restructuring through publicly seeking cooperation.

Blog Entry 1. 1a

Alibaba Group Holding Limited is a multinational company established in China to provide an online platform for e-commerce. It was founded in 1999. The company is involved in a wide range of business, including B2B trading, online retail, shopping search engines, third-party payments and cloud computing services. The company was initially engaged in e-commerce between enterprises and enterprises (B2B), and subsequently developed for individuals business, which provides sales services of customers to customers (C2C) and enterprises to customers (B2C) through the web portals. Its subsidiaries include Taobao, Tmall, Alipay, Ant Financial and Alibaba Cloud Computing. Among them, Alibaba, Taobao and Tmall as the main portal to provides an e-commerce online platform for B2B, C2C and B2C. Alibaba Group has different typological subsidiaries to provide different services to different customer group. The business model of Alibaba is mainly composed of three web portals: Alibaba, Taobao and Tmall. They are responsible for B2B, B2C and C2C respectively.

Alibaba is mainly aimed at e-commerce between enterprises (B2B). It free to provides a platform for suppliers in various countries to display their products, thus completing the transaction between the seller and the buyer. Instead, suppliers can increase the products` exposure and more product listings by paying a fee to become a membership.

Taobao has made great contributions to C2C as another e-commerce platform of Alibaba. Individual dealers and small companies directly trade online with buyers (Fang, 2008). It does not charge any commission from the seller in Taobao. Advertising costs are the main source of income.

Tmall as a B2C platform to expand the C2C market for Alibaba Group (Wang, 2006). Its business model is same as Taobao but it needs to pay for it. The difference is that it trades a variety of branded products. Tmall provides a sales platform for the large companies, such as NIKE.

The revenue model of Alibaba Group is based on membership fee and advertising. Although three e-commerce platforms of Alibaba are fee, suppliers playing premiums to become premium members will acquire more advantages for selling. Secondly, advertising revenue is another profit model of Alibaba. Among them, the bidding mechanism has brought huge income to the company. If the additional advertising cost provided by the suppliers is more, their products will appear in search engines earlier.

The advantage of Alibaba`s business model is that they have a large number of users and thus facilitate the dissemination and communication of information. A large number of members can quickly increase brand awareness and attract more new users. For example, when the company will promote a new products, the users and members are the best medium of communication. Although Alibaba made up for its shortcomings by continuously expanding its business that covered the market of B2B, B2C and C2C, it also increase the complexity of management. Moreover, the bidding mechanisms and ever-increasing membership fees are able to drain users.