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Identifying Consumer Intent: Sentiment Analysis and NLP in Social Media | Analytics Insight, 06 sep 2020
eCRM: Everything You Need To Know! | Digital Market News, 06 sep 2020
Centre finalising guidelines for companies, brand ambassadors to prevent misleading ads | The Hindu, 06 sep 2020
Marketing in the Age of Resistance | Harvard Business Review, 04 sep 2020
The Elements of Branding and Why They Matter | Influencive, 04 sep 2020
8 Habits You Should Have for Quality Content Marketing | Content Marketing Institute, 03 sep 2020
The Conversational Style Of Marketing: Engaging, Empathetic And Attentive | Forbes, 03 sep 2020
Advertising for Cavemen: Exploring the Psychology of PPC Ad Copy | Search Engine Journal, 31 aug 2020
Why Digital Transformation Always Needs To Start With Customers First | Forbes, 30 aug 2020
10 Ways to Get Global PR Exposure | Entrepreneur, 12 aug 2020
Mohammad Anas Wahaj | 31 aug 2020
COVID-19 has brought about new challenges for brands and businesses. Changing consumer behavior, excessive use of social media, prevalence of fake news, fast spread of public opinion through internet etc has exacerbated the problems that businesses are facing. The large amount of content that is generated at this time is filled with mixed emotions - happiness, anger, fear, and disgust. Anubhav Mishra, professor of marketing at the Indian Institute of Management Ranchi, provides a solution for brands to follow to manoeuver through the current marketing challenges - a simple LAC Model - that stands for Listen, Act, and Communicate. He explains - (1) LISTEN: 'Social media listening is the first step, which most of the brands regularly do as part of their digital marketing strategy. Brands collect information and do a sentiment analysis to understand the emotions hidden in those tweets or Facebook posts. Sentiment analysis reflects what consumers are feeling about that brand. A careful filtering of the information should reveal consumer's expectations and challenges from the brand.' (2) ACT: 'The next step is to act on the information collected in the listening process...Brands should find innovative ways to act on the information to ease the pains of consumers.' (3) COMMUNICATE: 'A critical aspect of communication is to gather free media and support from consumers...A firm must resist the temptation to chest thumping which can severely backfire. Many people are dying globally and there is a general atmosphere of fear and mistrust...Consumers are showing signs of distrust and skepticism toward any communication. In such scenario, content must be created to show feelings of concerns towards the severe spread. Brands should reflect that they care for their consumers in these testing times.' Read on...
Mohammad Anas Wahaj | 23 jun 2020
COVID-19 impacted the retail sector and brought about unforeseen challenges. Recent study by Warwick Manufacturing Group (WMG) at University of Warwick (UK) and Blue Yonder examined how retailers have responded to the COVID-19 pandemic to ensure their survival. The study is based on the survey responses from 105 different retailers from Europe, Asia and the Americas and identified the human vulnerabilities across the supply chain and the need for future investment in flexibility, visibility and automation to improve future resilience. Some of the challenges that retailers faced are - unprecedented demand for some products while no demand for others; many stores were forced to close, or adapt their operations to accommodate social distancing; shift to online shopping wherever possible but it had its own operational challenges. REPORT HIGHLIGHTS - (1) The majority (61%) of retailers used inventory to buffer against the disruption of COVID-19. Supply chain processes and systems were effective, but more than half (58%) of retailers said a high degree of manual intervention was required to respond to the fluctuation in demand and supply. (2) Workforce issues were dominant issues for retailers with 59% of warehouse and 48% store operatives being affected by quarantine or illness. This often resulted in the closure of online operations and the need to recruit temporary staff. (3) Retailers were polarised in their treatment of supplier payments, with 37% delaying payments and 30% making early payments. Prof. Jan Godsell of University of Warwick says, '...only just over a quarter (29%) of retailers relied on suppliers with more agile manufacturing and distribution networks, which is a potentially more resource efficient and resilient response. With 75 to 80% of products seeing a demand fluctuation, retailers were slightly better at responding to decreases rather than increases in demand...' Wayne Snyder of Blue Yonder says, 'A critical learning for retailers is the need to invest in creating supply chains with greater flexibility, visibility and automation. Here technologies such as artificial intelligence and machine learning will play a key role in helping retailers navigate future disruption, whilst still meeting customers’ expectations.' Read on...
University of Warwick News:
New study provides insights into how retailers have responded to COVID-19
Author: Alice Scott
Mohammad Anas Wahaj | 20 apr 2020
Fake news at the time of crisis like the current COVID-19 pandemic is a double whammy that further adds to confusion and creates panic. Propagation of false and misleading information through social media and other tech platforms has multiplied. It not only exploits the emotional vulnerability of common public but also impedes and hinders the efforts to collectively and scientifically fight the pandemic and minimize its socio-ecomic effects. But an evergrowing group of Indian scientists have come together to create 'Indian Scientists' Response to COVID-19 (ISRC)' that is working to fight false information. It is a pan-India voluntary effort with more than 400 scientists across more than twenty scientific and research institutes in the country. It counts among its volunteers astrophysicists, animal behaviourists, computer scientists, mathematicians, engineers, chemists, biologist, doctors, social scientists and others. The purpose of the group includes analysing all available data and support national, state and local governments for evidence-based action, in addition to verifying and communicating information. There are sub-groups working on - mathematical modelling of disease spread and transmission, outreach and communication in simple terms for the public and media, translating basic resources in local languages, developing hardware solutions and apps. Aniket Sule, a science communicator with the Homi Bhabha Centre for Science Education in Mumbai, says, 'Since science communication is my area of interest, I volunteered to be a part of this effort. In this crisis, everyone has a role and each person can contribute by doing what they know best.' R. Ramanujam, a theoretical computer science professor at the Institute of Mathematical Sciences (IMSc) in Chennai, says, 'While people in the medical and healthcare community are doing their work, we thought, what about others like us, what can we do?' Rahul Siddharthan, a computational biologist at the IMSc, says, 'How an individual gets infected is definitely a biology problem, but what we are looking at is how an infection spreads in society, and we are dealing with large numbers of people. Physicists have a lot of experience in dealing with dynamical systems modelling, differential equations, and computer/data scientists can analyse the data that is available. It has to be an interdisciplinary approach and we need people to be talking and on the same platform.' T. V. Venkateshwaran, senior scientist at Vigyan Prasar, says, 'In a situation like this it's important to do two things, one is communicating to people that they need to be alert, not alarmed...The other thing is falling for wrongly circulated remedies and rumours. We need to counter all the misinformation going around so people feel at ease.' The group is putting together links, videos and articles in Indian languages and also working on translating others. Anindita Bhadra, an animal behaviourist and associate professor at IISER Kolkata, says, 'I am not an expert in virology or epidemiology or modelling, but I am interested in science communication so I thought I should help with that as well as translation. You need people who can transmit all this to the public.' Read on...
World Economic Forum:
How 300 Indian scientists are fighting fake news about COVID-19
Author: Bhavya Dore
Mohammad Anas Wahaj | 29 feb 2020
Australia's retail industry is in turmoil with some of the big ones entering into voluntary administration. Tom Youl of Ibis World says, 'Weakness in the Australian economy, in particular, deteriorating conditions for households, has been placing pressure on the retail sector...Weak wage growth has been a contributing factor to decreasing discretionary incomes, but rising household costs have also played a part. The bad news for store-based retailers is online players are going to continue to grab a larger share of the pie.' Eloise Zoppos of Monash Business School says, 'Customers are seizing control of the retail landscape and those retailers not up to the changes proposed by their loyal shoppers will be left behind. Friendly and knowledgeable staff, and eye-catching and easy-to-navigate store designs, can help create memorable experiences that customers can share with their friends and family after their purchase.' Even though online shopping is on the rise but Monash's 2019 consumer survey reveals that more than 70% respondents prefer to shop in bricks-and-mortar stores. A positive story coming out of the retail churn is that of an electronics store JB HI-FI. Retail expert Amanda Stevens explains, 'If you've been into JB Hi-Fi lately, it's a fast-moving big box retailer, but they really have knowledgeable staff, which is always a sigh of relief for consumers versus other retailers you go into, and you could spend up to 15 minutes finding someone to give your money to.' Regarding the future of Australian retail Mr. Youl suggest, 'Many retailers have been thriving in recent years. A sound brand strategy and market position are always vital to success, but these factors become of paramount importance over periods of weak growth, as we have been experiencing.' Read on...
Mohammad Anas Wahaj | 29 nov 2019
Traditional market research involves quantitative methods like group surveys or self-reporting to obtain valuable data, but to get the whole story, Prof. Rebecca Rast of marketing department at Missouri State University, has embarked upon a new methodology of research that utilizes iMotion software technology and uses facial expression analysis to develop a deeper understanding into the complexity of human behavior in the marketing field. iMotion technology captures physiological reactions, such as how humans think, feel, act and respond, in real time and helps to quantify engagement and emotional responses. The software can measure seven core emotions: joy, anger, fear, disgust, contempt, sadness and surprise. Prof. Rast says, 'I'm continuing to think of other applications I can use the software for to continue to look at marketing behavior...If I can share it with my students so they understand the outcomes, then I can apply it right back into the classroom when it comes to topics such as consumer behavior.' Read on...
Mohammad Anas Wahaj | 28 jun 2019
Wikipedia explains 'Spin' as, 'A form of propaganda in public relations and politics that is achieved through knowingly providing a biased interpretation of an event or campaigning to persuade public opinion in favor or against some organization or public figure. While traditional public relations and advertising may also rely on altering the presentation of the facts, "spin" often implies the use of disingenuous, deceptive, and highly manipulative tactics.' Researchers (Paris Descartes University: Isabelle Boutron, Romana Haneef, Philippe Ravaud; Hôpital Hôtel Dieu, Paris: Amélie Yavchitz, Gabriel Baron; Inspire: John Novack; New York University: Ivan Oransky; University of Minnesota: Gary Schwitzer) in their study, 'Three randomized controlled trials evaluating the impact of "spin" in health news stories reporting studies of pharmacologic treatments on patients'/caregivers' interpretation of treatment benefit', published in journal BMC Medicine, found that participants were more likely to believe the treatment was beneficial when news stories were reported with spin. Prof. Gary Schwitzer of University of Minnesota and founder/publisher of HealthNewsReview.org, says, 'This is important research because misinterpretation of the content of news stories due to spin could have important public health consequences as news articles can affect patient and public behavior.' Prof. Schwitzer says that spin can originate in all stages of the flow of information from researchers to the public. Researchers suggest that spin can be managed by taking the following steps - Train researchers to understand how the public uses the media and, in response, frame their communication to the public in a way which is truthful, relevant, understandable and devoid of distortion or hype; Train PR professionals, journalists and other communicators to detect spin and accurately convey research results; Educate news consumers on the resources available to help them critically evaluate health claims; Support research for developing ideal approaches for communicating scientific and health information. Read on...
University of Minnesota News:
Research Brief: Evaluating the effect of spin in health care news
Mohammad Anas Wahaj | 28 may 2019
Prof. David Dubois, who teaches marketing at INSEAD (France), explains that by customizing digital technology according to customer relationships can provide B2B companies competitive advantage. Marketing spend is not defining factor for success, but how well companies integrate technolgical solutions is. Prof. Dubois says, 'A company's digital investment does not necessarily translate into marketing return on investment (ROI). For that to happen the firm needs to build a digital marketing organisation – data-driven marketing capabilities around the customer. A pivotal and enduring dimension of success in B2B markets lies in the relationship a company has with its clients. Thus, identifying the type of relationships that you have or would like to have with your customers is an excellent starting point to select and embed digital technology into your strategy. And this process is increasingly important for B2B companies if they are to maintain growth even as digital disruption accelerates the shift from B2BigB to B2SmallB.' He suggests defining customer-centricity by relationship type. Susan Fournier of Boston University offers a useful framework by likening customer relationships to friendship and romantic relationships. Once this has been done companies should select a technology that matches the relationship. According to Prof. Dubois, getting customer-centricity right in the digital age involves three steps after the relationship is clearly defined - (1) Test and learn: Consider the technologies and communication channels that are adapted to strengthening each type of relationship. Companies would do well to test and learn strategies. (2) Match technology to client (3) Integrate tech and new practices: Understanding the customer relationship should be an ongoing process. One part of that solution is mining big data on social media and news outlets. Prof. Dubois points out, 'At a time when the giant markets of SMEs such as China and India offer unprecedented opportunities, the roadmap to customer-centricity has never been more relevant.' Read on...
Driving B2B Digital Transformation Through Customer-centricity
Author: David Dubois
Mohammad Anas Wahaj | 11 feb 2019
According to the research by Prof. Elizabeth A. Minton from University of Wyoming, Prof. Kathryn A. Johnson from Arizona State University and Prof. Richie L. Liu from Oklahoma State University, 'Religiosity and special food consumption: The explanatory effects of moral priorities', published in Journal of Business Research, people with strong religious beliefs are more likely to buy fat-free, sugar-free or gluten-free foods than natural or organic foods. The research could influence the marketing of those specialty food products. Prof. Minton says, 'Religion is the deepest set of core values people can have, and we wanted to explore how those values impacted the market choices people make. We found religiosity influenced the selection of more diet-minded foods...' The study was carried out online and included responses from over 1700 people across the U.S. Prof. Johnson says, 'Often, people make intuitive decisions about food that could require more careful thought. People might make choices based on a cultural narrative or their religious and moral beliefs, without giving measured thought to whether there is a better option.' According to the research, the moral foundation of care drives the choice of sustainability-minded food products, and the moral foundation of purity is behind the choice of diet-minded foods. Prof. Liu says, 'The findings from our work can directly help businesses promote food products to specific groups of people without potentially alienating customers by including religion.' Read on...
University of Wyoming News:
UW Researcher: Religion Affects Consumer Choices on Specialty Foods
Author: Chad Baldwin
Mohammad Anas Wahaj | 30 oct 2018
When one thinks of marketing, Northwestern University Professor Philip Kotler's name comes right at the top. He is author of the most used marketing texbook in business schools, 'Marketing Management: Analysis, Planning, Implementation and Control', alongwith another 57 books on the subject. Speaking with Paul Talbot, President of a marketing strategy firm Southport Harbour, Prof. Kotler shares his views on the role of CMOs (Chief Marketing Officer) in today's business organizations. Regarding their skills and talents, he says, 'In the 1960s, marketers were hired for their flair for advertising and creativity...Today, we need CMOs with a different skill set. CMOs must be expert at digital marketing...Information and mathematics are crucial. Companies need in-depth information about their customers’ individual beliefs, values, media consumption and channel choices. Marketers today use multiple regression analysis, cluster analysis, discriminant analysis, and predictive analytics to yield customer insight. Marketers increasingly make investments in...social media. CMO has to have good creative marketers on the staff to bring up bright new ideas. The tech approach to marketing is more about efficiency. Marketing creativity and imagination is about winning big.' Regarding collaboration between between marketing teams and others in the organization, he says, 'Back in the 1960s, companies didn’t have a CMO. They had a powerful vice-president of sales who was the driving force. They had added a vice-president of marketing whose job was primarily managing marketing research and preparing advertising and sales promotions...The chief marketing officer concept emerged as markets grew more complex and competitive...who would participate in finding and shaping what the company should produce, in identifying the target markets, and evaluating the overall company strategy...CMOs need to be effective in the following relationships: ...The CMO had to 'carefully' educate the CEO to understand marketing's potential and limitations; ...the CMO and CFO would work together to find and agree on the best way to measure the return on marketing spend; ...I view R&D people to be the masters of what is possible. I view marketers to be the masters of what is valuable; ...If those two executives (CMO and VP of sales) don't get along, the company’s financial performance is doomed.' Read on...
Northwestern Professor Philip Kotler On Today's CMO
Author: Paul Talbot
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