I hate bringing up this brand always as an example but they do a lot of things right.
The short lesson from this article about Apple’s retail experience is that if you want people to have a consistently good experience with your store, you must CONTROL everything. No element of your store’s experience should be left up to a random element of choice as decided by an hourly employee.
A 2007 employee training manual lays out the A-P-P-L-E “steps of service” with an acronym of the company name: “Approach customers with a personalized warm welcome,” “Probe politely to understand all the customer’s needs,” “Present a solution for the customer to take home today,” “Listen for and resolve any issues or concerns,” and “End with a fond farewell and an invitation to return.” It is reportedly still in use today.
Freedom comes on the other side of control. Question is, how are we controlling the experience in our stores?
Markets, consumer behavior and how businesses connect with customers are all directly impacted by technology.
The increasingly important role of technology, combined with global economic unrest, means a company’s brand is more important today than it has ever been. Consumers, in search of certainty, rely heavily on a brand’s symbolism and significance
Digital Darwinism is the evolution of consumer behavior when society and technology evolve faster than some companies’ ability to adapt.
Babson College cited a rather humbling statistic; “Over 40% of the companies that were at the top of the Fortune 500 in 2000 were no longer there in 2010.”
24/7 Wall St. published its annual list of “Ten Brands That Will Disappear in 2012.” The publication predicts the demise of some of the world’s most recognizable brands, including Sony Pictures, American Apparel and Nokia.
“For me, marketing is about values. This is a very noisy world and we’re not going to get a chance to get people to remember much about us. So, we have to be very clear what we want them to know about us.” (Steve Jobs)
The company then looked inward in an attempt to answer the questions: Who is Apple; What does it stand for and where does the brand fit in the world.
“What we’re about isn’t making boxes for people to get their jobs done,” said Jobs during the company meeting,” Apple’s core value is that we believe people with passion can change the world…for the better. Those people, crazy enough to think that they can change the world are the ones that actually do.…Here’s to the crazy ones.”
McDonald’s is adapting to a new era, creating an experience marked by muted colors, wooden tables and faux leather chairs. And, that’s just the beginning. McDonald’s is pouring $1 billion into redesigning the consumer experience.
Everything begins with embracing a culture of innovation and adaptation — a culture that recognizes the impact of disruptive technology and how consumer preference and affinity is evolving.
If a organizations cannot recognize opportunities to further compete for attention and relevance, it cannot, by default, create meaningful connections, a desirable brand or drive shareable experiences. The brand, as a result, will lost preference in the face of consumer choice, which may one day lead to its succumbing to digital Darwinism.
The Fortune list of Asia’s most powerful people in business has many unfamiliar names. The list highlights the power shift in Asia, from Japan to China, India, and beyond. Toyota’s Akio Toyoda tops the list of 25 most powerful people in the business world. Six top executives from India also make it to the Fortune list.
1. Akio Toyoda
One of the most influential businessmen in the world, Akio Toyoda is the president and CEO of Toyota Motor Corporation. Grandson of Toyota founder Kiichiro, Toyoda joined the company in 1984. He joined Toyoto’s board of directors in 2000. Toyoda has played a key role in boosting sales and promoting the brand image of the company.
2. Ratan Tata
Chairman of the Tata Group, Ratan Tata is one of the most powerful business leaders in India. In 1981, JRD Tata stepped down as Tata Industries chairman, nominating Ratan as his successor. Ratan Tata is also the chairman of the major Tata companies, including Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels and Tata Teleservices. Under his leadership, the group’s revenues have grown nearly 12-fold, totalling $67.4 billion in 2009-10.
3. Mukesh Ambani
Mukesh Ambani, chairman of Reliance Industries, is an ace dealmaker. He has acquired assets in telecom, petrochemicals to expand $45-billion-a-year empire, says Fortune. He initiated Reliance’s backward integration journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production. He created several new world class manufacturing facilities that have raised Reliance’s petrochemicals manufacturing capacities
4. Kun-Hee Lee
Son of Samsung Group founder Lee Byung-chull, Kun-Hee Lee is the chairman of Samsung Electronics. In 1996, Lee also became a member of the International Olympic Committee. With an estimated net worth of $7.4 billion, Kun-Hee Lee and family rank among the Forbesrichest people in the world.
5. Ren Zhengfei
Ren Zhengfei is the president of Huawei Technologies. With private assets worth $124 million, Ren is among the richest people in China. Ren founded Huawei Technologies Co in 1988 to specialise in the development, production, and sales of telecom equipment. Time magazine included Ren Zhengfei in its list of 100 most influential people in 2005.
6. Terry Gou, 60, chairman and CEO of Foxconn Technology Group, Taiwan
7. Gao Xiqing, 57, president and CIO of China Investment Corp, China
8. Wang Xiaochu, 53, chairman and CEO of China Telecom Corp, China
9. Jiang Jiemin, 55, chairman of PetroChina Co, China
10. Chung Mong-koo, 73, chairman and CEO of Hyundai Motor, Korea
the Ultraviolet video is a bit cheesy but worth watching. Dece Ultraviolet is
the latest attempt by the entertainment industry to distribute its content securely. The basic idea behind UltraViolet is the cloud based digital locker for content and rights licenses. DECE (Digital Entertainment Content Ecosystem) which is a cross-industry consortium of over 50 companies (and growing, Apple and Disney are missing!) committed to make UltraViolet the next generation standard for rich media experience where the users will get the flexibility and user experience they’ve been denied for over a decade now. With UltraViolet, users will be able to download, stream, share and even get copies for use on physical media, basically covering a great deal of the average user needs in terms of interoperability and user experience. BUT that’s solving just half (or less) of the issues. Technical agreement on a common file format is a good start, but the business model side remains an open issue. And history has shown the poor ability of the entertainment industry to be creative in this space.
(via Lift Conference)
The future of cars: drivers not needed.
I just stumbled over this headline on CNN. If you take out the human interaction with the machine, how do sell that to the world? In theory it might be an intriguing concept. But to me, that’s not sexy anymore. Feels like a video game that plays for you. Other industries are trying to get you even more involved and connected and the automobile industry takes it out of the equation? I don’t know if they are really onto something.
Electric vehicles had many advantages over their competitors in the early 1900s. They did not have the vibration, smell, and noise associated with gasoline cars. Changing gears on gasoline cars was the most difficult part of driving, while electric vehicles did not require gear changes. While steam-powered cars also had no gear shifting, they suffered from long start-up times of up to 45 minutes on cold mornings. The steam cars had less range before needing water than an electric’s range on a single charge. The only good roads of the period were in town, causing most travel to be local commuting, a perfect situation for electric vehicles, since their range was limited. Read more here. (via liftlab)
- Electrobat Automobile, the world’s first electric car by the Baker Motor Vehicle Company developed in 1899 (geteconow.com)
- Toyota announces 6 new hybrids, electric cars (money.cnn.com)
- China: Aims High For Plug-In Electric Vehicles, But Can It Deliver? (eon.businesswire.com)
They start with a vision rather than a list of features.
One of my favorite ways to learn about innovation is to observe real world cases of business transformation. A great comparative case study can be found in the auto-industry, one of the big industrial objects of innovation desire.
read my post on hubbleinnovations.com
“I can’t remember the last time I used a phone book.”
The Yellow Pages industry dropped 540 million printed directories this year. That’s more than one per person. With the Internet available literally in our hands, is this acceptable?
If you are in the U.S., here is a link to be removed from the printed directory mailing list of Yellow Pages
Music careers start out on Youtube these days. Lady Gaga became famous first on myspace 4 years ago. Now she develops her videos with YouTube in mind. Justin Bieber started his world wide web tour in 2007. His videos hit 55 million views before he signed his record deal. Forget the traditional way through videos on MTV. Your management should focus on your online identity. They all following pioneers in web music video publishing like OK Go but with a much more sophisticated approach. YouTube star Grayson Chance might be the next big one.