Articles on this Page
- 08/31/14--20:15: _The Lovers, the Hat...
- 09/01/14--02:59: _Learning From Japan...
- 09/01/14--19:16: _The next generation...
- 09/01/14--19:58: _Partnering to “Fuel...
- 09/01/14--20:11: _Physicists ask phot...
- 09/01/14--20:55: _Unpredictable Work ...
- 09/01/14--21:05: _Discovering Your Au...
- 09/02/14--01:42: _Better Knowledge fo...
- 09/05/14--10:19: _Thank you to teache...
- 09/05/14--20:24: _Facebook's Social E...
- 09/06/14--05:33: _Social Power of The...
- 09/06/14--10:02: _BUSINESS NEWS | Cor...
- 09/06/14--19:14: _Twitter co-founder ...
- 09/06/14--19:30: _Four Ways to Spot a...
- 09/06/14--20:03: _What’s Your Languag...
- 09/08/14--19:25: _ Learn languages to...
- 09/08/14--20:43: _Fact or fiction? Fi...
- 09/10/14--20:43: _LinkedIn CEO Jeff W...
- 09/11/14--18:50: _Princeton Maintains...
- 09/11/14--20:16: _Mark Cuban Talks Hi...
- 09/01/14--02:59: Learning From Japan’s Remarkable Disaster Recovery 09-01
- 09/01/14--19:58: Partnering to “Fuel the Future” of STEM Education 09-03
- 09/01/14--20:11: Physicists ask photons 'Where have you been?' 09-03
- Weak measurements are explained in detail in the article "In praise of weakness" by Aephraim Steinberg, Amir Feizpour, Lee Rozema, Dylan Mahler and Alex Hayat of the University of Toronto.
- 09/01/14--20:55: Unpredictable Work Hours Are Stressing Too Many People Out 09--03
- 09/01/14--21:05: Discovering Your Authentic Leadership 09-03
- 09/02/14--01:42: Better Knowledge for Better Business Management 09-03
- Banking and the financial sector
- Distribution and trade
- Healthcare sector
- 09/05/14--10:19: Thank you to teachers Nahni Kali on Teacher's Day.
- 09/05/14--20:24: Facebook's Social Experiment: A Marketer's Perspective 09-06
- 09/06/14--05:33: Social Power of The Republic of India 09-06
- 09/06/14--10:02: BUSINESS NEWS | Cornell Named Top Ivy For Entrepreneurship 09-06
- 09/06/14--19:14: Twitter co-founder Jack Dorsey on Entrepreneurship 08-07
- 09/06/14--19:30: Four Ways to Spot a Great Teacher 09-07
- 09/06/14--20:03: What’s Your Language Strategy? 09-07
- 09/08/14--19:25: Learn languages to boost your MBA 09-09
- 09/08/14--20:43: Fact or fiction? Five myths that surround the student world 09-09
- 09/11/14--18:50: Princeton Maintains No. 1 Spot in College Rankings 09-11
The Lovers, the Haters and How They Helped Drive Innovation at Kraft
Learning From Japan’s Remarkable Disaster Recovery
“POST-DISASTER SETTINGS PROVIDE OPPORTUNITIES TO EXAMINE THE EFFECTIVENESS OF LEADERSHIP IN MOBILIZING PEOPLE AND RESOURCES IN HIGHLY DYNAMIC SITUATIONS.”
TEACHING AND LEARNING
AN UNFORGETTABLE LESSON
Partnering to “Fuel the Future” of STEM Education
Physicists ask photons 'Where have you been?'
Three possible paths
Intuitions and explanations
Unpredictable Work Hours Are Stressing Too Many People Out
Discovering Your Authentic Leadership
Better Knowledge for Better Business Management
Good governance, transparency and strong relationships between businesses and their stakeholders
New leadership dimensions: global, adaptable and digital
Digitalization and customer empowerment
Ethical rearmament and the social impact of managers and companies
Innovation: management models and relations
Sectors under change
Facebook's Social Experiment: A Marketer's Perspective
Facebook’s social experiment , where about 700,000 users’ news feeds were secretly controlled to prioritize “sad” or “happy” status updates, is viewed by many as an unethical—and potentially illegal—manipulation. While Sheryl Sandberg, the social network’s second most powerful executive, did apologize for the “poorly communicated” research, there are so far no indications that Facebook will shy away from running similar experiments in the future.
But why do Facebook’s data scientists want to understand how positive or negative status updates influence users’ emotions? Why are they interested in knowing how families communicate on social networks, or what are the causes of loneliness?
The answers lie within Facebook’s business model: the company makes money primarily by hosting advertisements. According to its most recent earnings report, about 93% of the Menlo Park-based firm’s quarterly revenue of $2.9 billion came from advertising.
Compared to traditional advertising platforms, Facebook, which possesses a massive amount of data generated by its 1.32 billion monthly active users, is in a unique position to be able to pinpoint customers that companies want to reach. And “the amount of money they can then charge the advertiser would depend upon how well they were able to match the needs of the advertiser with the customers that the particular advertiser is interested in,” says Pradeep K. Chintagunta, the Joseph T. and Bernice S. Lewis Distinguished Service Professor of Marketing at University of Chicago’s Booth School of Business,an expert on household purchase behaviors.
In this interview with CKGSB Knowledge, Chintagunta explains why consumers’ behaviors may change in different scenarios and at different points in time, and how firms like Facebook could translate those micro differences into effective marketing approaches.
Q. Why would companies like Facebook be interested in deeper understanding of user’s mood or behaviors?
A. As a marketer, in some sense [your] fundamental responsibility is to actually try to figure out what it is that your target customers want. Facebook is in a special situation. It is a platform, and the platform essentially brings in both the end consumer, who is the consumer of products, as well as companies, who actually want to reach these customers. So playing that role of bringing together both the advertiser as well as the consumer is something they would like to do. In some sense, the amount of money they can then charge the advertiser would depend upon how well they were able to match the needs of the advertiser with the interests of the customers. So, facilitating that match is important. In order to facilitate that match, they need to understand what it is that these customers really want. I think a lot of what you see them do is trying to actually get a deeper understanding, so they can facilitate that match.
Q. The idea of segmentation and targeting is marketing 1.1. But it seems that we are taking this 10 steps ahead and slicing the audience into even thinner and thinner slivers. To what extent is this going to be feasible?
The way I think about it though is that what they are trying to do now is go through the earlier phase where they are trying to understand how customers are going to behave based on these experiments. Once they have done these experiments and gotten a good understanding, potentially at that point, there might be less a need for them to engage in these kinds of activities than they are. By that time they have a better understanding. maybe that would be sufficient information for the advertiser to come in and do what they’d like to do.
At some level, the issue is what’s the most micro level at which you want to target. I think it is the case that all humans are very complex. We have different moods, we have different social groups, different kinds of interactions with people and we tend to behave differently at those times. For example, I’m now sitting in front of a camera and my behavior might be very different from the way I would behave with a group of friends at a bar drinking a beer. The issue is does understanding the differences in such behavior empower marketers better add value for the customer. And the answer to that is yes.
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Social Power of The Republic of India
But social media has made it possible for us, as individuals, to do more than just tell the world what we had for breakfast; popular services like Facebook and Twitter have helped us truly harness the power of our opinions.
Wrong Number: Corporates Can’t Control Communication
Mumbai resident and journalist Dhaval Valia had switched phone providers, to Vodafone, because he wanted to use its 3G services. But he discovered that he didn’t seem to be getting much.
Over weeks of sometimes acrimonious conversations, escalating from customer care to senior executives, Valia established that Vodafone had enabled 3G services in only half the cell tower sites in Mumbai.
Cornered, Vodafone’s marketing head offered Valia two months of free 3G.
Then, in May 2011, Valia posted his experiences on Facebook. Somehow, Vodafone found out, and sent him a legal notice. Valia sent them one in return.
From there, it snowballed, becoming front page news in major newspapers and a raging thread on Twitter. Thousands of people were soon accusing Vodafone of Big Brother tactics and all the telco could do was listen to a conversation over which it had no control.
In the end, Vodafone simply withdrew its case against Valia.
Rites of Admission: PR Disasters Can Be Turned Around
There is a famous — but, alas, apocryphal — story that Tata group founder Jamsetji Tata decided to build the Taj Mahal hotel as a way of getting back at discriminatory practices that did not allow ‘Indians and dogs’ into posh hotels. Over 100 years after the iconic hotel was built, another posh property — The Leela, in Bangalore — made a faux pas: Its security guards turned away a customer because he was riding a bicycle which the guards said could not be parked inside.
Perhaps, they hadn’t realised that cycling was no longer limited to those who couldn’t afford the expensive vehicles their driveway was accustomed to and that bikes were a style and health statement in the SEC A crowd.
At any rate, the issue travelled, from cycling enthusiasts’ bulletin board, to the Leela’s Facebook page, to newspaper articles and, finally, Twitter.
Social Capital: Little Organisations Can Cast Large Shadows
As India’s chances in the ICC World Cup were getting hotter, Nachiket Mor (@nachiketmor on Twitter), a former board member of ICICI Bank, now working on a healthcare project in rural Tamil Nadu, tweeted: “I have caught the www.rangde.org World Cup fever. Have pledged to invest Rs. 10,000 for every wicket that Zaheer Khan takes in the finals!”
Nagesh Kukunoor (@nkukunoor), film director, pledged Rs. 10,000 to the same organisation if India won against Pakistan, and added: “My small pitch during this cricket madness — pl make a pledge on rangde.org. social investing does change lives”.
They weren’t the only ones. All sorts of people were placing all sorts of ‘bets’, with Rang De as the recipient of their pledges. At the end of the season, Rang De had collected Rs. 10 lakh.
These funds were destined to be disbursed as micro loans; Rang De lends at an affordable 6-10 percent, raising funds from ‘social investors’ who can give as little as Rs. 100. So far, it has raised Rs. 5.4 crore, and given loans to over 10,000 small borrowers identified by its partners.
Rang De launched its Web site (rangde.org ) in early 2008, around when Facebook and Twitter use began to accelerate sharply, and social media was part of its strategy from day one.
Word has spread through referrals from friends. N.K. Ramakrishna, co-founder, says nothing beats that. After all, “That’s what it finally comes down to: Trust.”
The Voice of the People: Mashing Up Phones and the Net
No, say three interesting start-ups that are harnessing the reliability, ease-of-use and ubiquity of mobile phones to create a voice-driven Internet.
Awaz Otalo (which subsequently gave birth to Awaz De — awaaz.de ) is a similar project in Gujarat, which lets farmers call in and pose questions around agricultural practices, which then get routed to other farmers who can provide answers.
Labor Voices (laborvoices.com ) allows migrant construction workers to rate their employers on various parameters like working hours, salaries and working conditions.
I Saw It On the Telephone: Corporates Can’t Hide Uncomfortable Truths
“If a tree falls in a forest and no one is around to hear it, does it make a sound?” Today, we ask, “If companies do ugly things, but consumers don’t hear of them, are the companies still guilty?”
Two startups are collating and channelling supply chain and labour practices information from around the world and putting it right into your hands.
Free2Work (by notforsalecampaign.org ) is a listing of many well known companies such as Nestle, Fisher-Price, Adidas and Levi-Strauss. Each of them is assigned a grading based on the way they treat their employees. A revelation made by the app is Amazon’s abysmal “D” grade, based in turn on the way its Kindle contract manufacturer in China allegedly ill-treats its workers.
BUSINESS NEWS | Cornell Named Top Ivy For Entrepreneurship
“[We are] focused on working with the right teams with amazing passion for their concept,” he said “With each [year,] you typically see a good mix of teams ranging from software to consumer products and everything in between.”
Photography: altrospazio, Roma Artwork: Tomás Saraceno, Cloudy Dunes. When Friedman meets Bucky on Air-Port-City, 2006
What’s Your Language Strategy?
Learn languages to boost your MBA
Fluency in languages will complement your MBA and help you in your business career
MBA students at the London Business School campus in Dubai
Fact or fiction? Five myths that surround the student world
The ability to dream big ...
... but also execute
And have fun doing it
Princeton Maintains No. 1 Spot in College Rankings