Showing posts with label Week 11. Show all posts
Showing posts with label Week 11. Show all posts

Sunday, March 27, 2016

Week 11 Reading Reflection

  • Something that surprised me while reeding this journal was the fact that up to now, I always thought there was just one office or department in a company that was in charge with innovation strategies. Instead, innovation strategies are something that should be practiced at every point of the business process.
  • I did not find any part of this reading confusing. I found it to be a very straight forward read.
  • What's the best way to approach a failed innovation strategy? What are some of the most successful innovation strategies that you have seen very rarely fail? I believe that responses to these questions would help companies have a clearer idea of how to tackle certain strategy losses.
  • I did not find myself disagreeing with the author at any point. It was an overall very interesting reading.

Amazon Whisperer

Revenue Drivers:
  • Companies paying for advertising
  • Customers purchasing application
Next Product:
  • Offer coupon codes to customers to use on retail stores
  • Hashtags
How the "next" thing will enhance the current experience:
  • The coupon codes will encourage customers to buy more because they're saving a few bucks. Also, the retail store will be notified when we send them customers and pay us a percentage of the purchases.
  • The hashtags will help the bloggers promote better and allow the customers to find exactly what they're looking for.
Amazon:
  • A product such as this does not exist on Amazon.
Customer Reviews:
  • I could not find any products online with reviews but based off of twitter and instagram hashtag reviews, hashtags seem to be a very popular and useful thing.
Design/Usability Changes:
  • Something Instagram and other hashtag apps do not offer is the combination of hashtags for one search. I would provide the option to search several hashtags at once.
Why this product would make a good addition:
  • The addition of these products will produce more customers, therefore both us and the other companies that pay us will earn more customers and revenue.

Wednesday, March 23, 2016

My Unfair Advantage

1. Social
Valuable - I'm able to expand my social network through comfortable communications.
Rare - With todays addiction to technology, people have become uncomfortable in real life social interactions.
Inimitable - Many people say they are social but very often they are not.
Non-substitutable - Being easy to talk to is something that is a very important must when promoting your business.

2. Bilingual
Valuable - I am able to communicate with more people around the world. There are 21 spanish speaking countries in the world.
Rare - Unique to find someone that speaks another language because of how difficult and time consuming it is.
Inimitable - Some people do speak more than 1 language, but it is rare to be perfectly fluent in both.
Non-substitutable - Translating sites could offer this resource but they are not as accurate or personal.

3. Customer Service Experience
Valuable - Can allow me to communicate better with customers and know what their needs are.
Rare - Not everyone has customer service experience.
Inimitable - Many people have customer service experience but not everyone learns from it,
Non-substitutable - No real substitute fro knowing how to properly handle customers.

4. Beauty Industry Experience
Valuable - Allows me to understand how the inside world of the beauty industry functions.
Rare - Not everyone has experience working with the actual companies they blog about.
Inimitable - Some people have experience but not everyone tries to learn from it to later apply it.
Non-substitutable - Can't be substituted.

5. Blogging Experience
Valuable - Learned firsthand how to promote oneself.
Rare - Not everyone that tried to blog succeeds.
Inimitable - Others blog but not many think of it as an entrepreneurship opportunity.
Non-substitutable - Can be substituted but only by hiring someone that understands promoting and that costs money.

6. Unique Makeup Style
Valuable - Allows the style of the brand to be easily recognizable.
Rare - Will create a cult fanbase that identifies with one style.
Inimitable - If anyone tries to imitate it, it'll be obvious.
Non-substitutable - It's too unique to substitute.

7. Inexpensive
Valuable - People are more interested when they don't have to spend too much money.
Rare - Promoting a company or brand is rarely this cheap.
Inimitable - Some bloggers offer free promoting, but they wont reach out to as many people as this app would.
Non-substitutable - Reaching out to individual bloggers would be a substitution.

8. Colleagues interested in investing
Valuable - Can help with the starting of the company such as programming and designs.
Rare - Not everyone has help when they're starting up.
Inimitable - It's possible to seek out assistance but it'll cost money.
Non-substitutable - Can be substituted with your own money and time.

9. Time saving
Valuable - Customers will appreciate saving time looking for promoters.
Rare - Easiest way to promote, just go on one site, tell us what you want, and we'll do it.
Inimitable - Some bloggers offer promoting but brands have to find them and see if they properly represent the brand which takes time.
Non-substitutable - Reaching out to individual bloggers would be a substitution but thats more time consuming.

10. Offers something for everyone
Valuable - Offers something for the companies, the bloggers, and the bloggers followers.
Rare - Very few apps take everyone into consideration.
Inimitable - There are no other apps that are work with everyone.
Non-substitutable - Substitution would be Instagram, Twitter, etc. but its harder to get all the details or payed.


Top Resource:

My top resource would be my blogging experience. Being a beauty blogger, I'm like the middle person. I work with the company and the customers. With this experience, I have been able to learn from the companies that reach out to me, how to properly promote the products and how to reach out to the bloggers. Also, from interactions with the customers, I'm able to learn what their needs are as well as they opinions. With all this, I am able to apply it to my venture.