Assignment: Media & economy

Online Library

Have you ever wanted to read some chapters of the book, but you know that you don`t need that book, just two three chapters, may be your teacher has asked you to read those chapters. So then this web site is for you. You can read a book online and order for a print needed parts of the book. Company will print that part of the book and deliver it to you. So you don`t need to buy the book, but you will just buy needed parts and of course you will pay less.

Online library is called AVESTA (one of the ancient book in the world). Website offers online reading of books, printing out needed book or parts of the book. It will be done with leading issuers of books.

Readers must subscribe, of course there will be fee for this. They will read the book in software which will not allow anyone to copy the book and print out themselves.
Some highlights are followings:

Business Logic

• Cash Flow from the business.
• Subscription fee – 10 euro
• Printing out the book and delivery – Variable price, depending on pages and destination.

Web page externalization

Technology –don’t have exact idea about technology. But there is software, which does not allow to copy while reading the book. Example it is available in Financial Times website. If you subscribe and read the newspaper you can not copy or print out the paper.

Marketing – main target will be students. As we know students mainly do not want read all the book, just wants to read some chapters or just wants to read the summaries of each chapter before exam. So promotion of the website will be done in student unions, in University library. May be posters near schools and so on.

Payment – It will be done online.

Delivery – depending on the price. It can be done by express mail services or just by ordinary services.

Mockup – Click here

Concerns

Economical risks – The cost of development of the software may be high. And there is risk of printing the book and parts, as it is different business with its own risks.

Legal risks - There won`t be legal risk as authors of the book will be paid according to the number reading which was done on that web site.

Risks of tendency change – There is risk of tendency that all books will available on the web in the future. There are some rumors about it.

Reading 10

"Emarketing Excellence".

By P.R. Smith.

KTH Library

I have read 1-4 chapters of this book. These chapters introduce mainly the world of e-marketing; e-customer; its background and its benefits. It explores the current e-marketing situation, e-marketing definitions as well as examples of good and bad e-marketing. The other part of the first chapter gives a planning framework and checklists to evaluate and improve E-marketing practices or plan new initiatives. The chapter looks inside the online customer’s mind. And it explores customers’ issues, worries, fears and phobias as well as other motivators for going online… and how marketers can respond to these behaviors. I would certainly recommend this chapter, especially the part of where a step-by-step guide to creating an e-marketing plan introduced. It is called SOSTAC. This e-marketing instrument is used by thousands of professionals to produce all kinds of plans (marketing plans, corporate plans, advertising plans and e-marketing plans).

Reading 9

“Interactive Media“.

By Roy Rada.

Stockholm School of Economics Library

Next reading is “Interactive Media“book by Roy R., it is also very interesting book. The chapter which I read is about Stakeholders in Interactive Media and their influence. Stakeholders influence the progress and outcome of Interactive Media projects. They need to be identified and involved in the project in ways that suit them. For that reason books suggests that there are many stakeholders across the life span of the project, you need to rank attention the key stakeholders want from you so that you can make best use of your time and effort. Chapter is mainly about analyzing stakeholder relation with Interactive media developers. And suggest RACI matrix that maps responsibility, accountability, consultation need and information need may be a useful tool to apply here. I advice interested people to read the book. It is written in very easy reading way. So it will be useful and easy to read.

Reading 8

"Media management and economics".

By Alan B. Albarran.

Stockholm School of Economics Library

I read the 2-3 chapters of book “Media management and economics” By Alan B. Albarran. I think it is the most interesting book which I have read till now. The chapter is about Historical Trends and Patterns in Media Management Research. As for the it Media management research became an area of interest and study during the 20th century as media conglomerates began to take shape, first in the newspaper industry, and latter in the radio, motion and television industry. The media industries are unique to society in many ways in that they are ubiquitous and pervasive in nature. I like the statement which was given to interactive media. The Book says interactive media is a primary source for information and entertainment and an important part of the function that transmits the culture of a society. I recommend the book for all the people, not only interactive media industry but in all other areas as well. Especially the 2nd chapter where authors identified 5 characteristics that differentiate media industries from other types of businesses. These are:

1. The perishable commodity of the media product;

2. The highly creative employees;

3. The organizational structure;

4. The societal role of the media;

5. The blurring of lines separating traditional media.

Reading 7

“Managing Interactive Media”.

By Elaine England and Andy Finney.

KTH Library

I have read 1st chapter of book “Managing Interactive Media” by Elaine England and Andy Finney (from University library). Chapter is about the Interactive Media Projects. It discusses the changes of the working context for those in the interactive sector. It has split into sub sectors that have their own ways of working. Interactive Media Projects has integrated with the mainstream of business so that there are more project types, with extensions and adjuncts to main projects.As for the chapter the interactive sector is still maturing, so the separate roles covered in the last years have not become established in the same way that they have in other sectors.I think this means that there is more for management to track and appraise. And I recommend this book as of above mentioned circumstances the role of the project manager has widened to accommodate the responsibilities of a programme manager and an administrative project manager as well as those of a production project manager.

Reading 6

Research Article “The mutual shaping of online and offline social relationships“.

By Bo Xie.

Link

Nowadays with appearance of social networks like Facebook, MySpace and so on, the impact of the Internet on social relationships has been a major subject of research on the societal implications of information and communication technologies. This research discusses the impact of new information and communication technologies on adults, especially those in non-Western settings. As for the author more and more evidence shows that, rather than being independent of the offline world, online interactions and relationships are indeed deeply embedded in and shaped by offline situations and social relationships. Computer-mediated communication may provide a convenient way for older adults to not only maintain existing relationships but also broaden their social networks by forming new relationships via the Internet. I think people who are interested in the future of social networks and social networks between older aged people must read this research. As the findings of this study shows new information and communication technologies must be used to improve older adults' well-being. Due to age-related physiological and social changes, older adults often have difficulties in maintaining social networks and relationships that are vital to their health and well-being.

Reading 5

Research Article “The complementary relationship between the Internet and traditional mass media: the case of online news and information“.

By An Nguyen.

Link

I think this topic is one of the hot topics nowadays. Article discusses the question whether old media are driven out of existence by new media has been a long concern in academic and industrial research but has received no definitive answer. First it discusses Medium-centered perspectives: the displacement and replacement effect of new media, then it goes to Medium-centered perspectives: the displacement and replacement effect of new media. And as a conclusion the author of the research states that the historical coexistence of old and new media will continue in the Internet age. At least within the provision of news and information, instead of driving out old media, the Internet will complement them in serving the seemingly insatiable news and information needs among a substantial segment of society. Decline of traditional news and information usage might be under way, especially when the Internet becomes the most relied-on news and information source – but it is unlikely for any replacement (absolute displacement) to occur. I think we also discussed this topic in the class, so it will be great to read it again, if there are people who are interested in this area.

Reading 4

Research Article “Business Use of the World-Wide Web”.

By Claire Cockburn and T.D. Wilson.

Link

I read a research about internet usage by commercial companies. Article mainly replies on real statistical facts. As for the author electronic commerce is still very much in an embryonic stage. Of the 300 companies surveyed by him, only 11.7% were engaged in on-line selling of goods or services with the transmission of credit card details over the Internet. Article also addresses security of internet payment while doing business. Customers do not feel comfortable sending sensitive information over the Internet and companies are not generally asking them to do so. The number of secure sites currently in place on the Web is relatively low (although the number is growing all the time). It is suggested to make it more secure in the future to make progress in this area. I think the most relevant part of research for is the media capabilities of the internet, which is proved by this study is that so fully exploited, the majority of sites using text, photos and graphics but not sound or video. As technology progresses and the design of Web sites become more of an art form this will surely change. Electronic mail is widely used at most of the sites investigated and will remain one of the most important aspects of the Internet, especially in relation to business use. And there are some recommendations for using interactive media in commercial business very effectively.

Reading 3

Role of Interactive media in the Luxury industry (3).

In this part of the research paper, they talk about the concept of the 7Cs, which was developed in order to help luxury brands to understand how to create a “high impact digital customer experience”: Content, Customization, Customer care, Communication, Community, Connectivity and Convenience. In other words they describe web experience mix of four main elements: technology, interactivity, trust, and service. By changing these four factors, luxury brands can modify and so create the best experience for their online customers. The technological elements: provide online customers with a nice and practical application, easy to understand and to use even if it is their first visit. Moreover, the websites atmosphere needs reflect the luxury brand identity. The interactivity: The Internet permits brands to go from a push media to a pull medium of communication. Indeed, on the other traditional media, it was always the brand that was talking to its targets. Nowadays, it is more the online customers that want to engage in a dialogue with a brand. Mainly factors are: E-CRM, online interaction with vendors, and online relation with other Web users. Trust: Thus, web users sometimes mistrust certain websites, email and applications for fear of spam, personal data violation… In order to improve the web experience of a customer, e-marketers have to firstly understand customers‟ behavior and identify what can develop their trust toward an e-brand. Services: Firms have a great capacity to influence customers’ behavior and purchase fulfillment. By the research paper we can understand that services which will be given online must fit the status of the brand identity.

The Mockup

I made a mockup that is related to Luxury shoppers. It is like community of luxury brand handbag buyers. Here is the link. It was made in RevMedia (as suggested)

Persona of the community:
Female
Age: 20 - 55
Income: High class
Person who is mostly interested in emotional characteristic of the product, and wants to show her social status.

Assignment: Joint report of local observations

Link for the assignment

Reading 2

I read Master Thesis of Charlotte Larbanet and Benjamin Ligier about Interactive media in the luxury industry, so my first, second and third reading are all about this thesis. I read many things about use of interactive media in this industry and I want to share my opinion about it.

Role of Interactive media in the Luxury industry (2).

Luxury brands saw the Internet as a mass and incontrollable media as well as a counterfeit distribution channel that could completely destroy their brands‟ image. But latter they started to see Internet in different way. As for the thesis there are some interactive tools in Internet for Luxury brands. They are e-biz., e-commerce, Viral Marketing and Online Customer Relationship Management. They distinguish e-business and e-commerce. E-biz is more using the Internet in order to connect customers with the company to give more information about its products and policies. It is a perfect medium in the case in which a brand wants to use the Internet in order to inform its customers. E-commerce is more online selling and purchasing activities including money transaction like online payment and tracking delivery. Companies use e-commerce mainly to promote their products and sell online; by selling online organization can reduce distribution cost, storage cost. There are Luxury companies who use Internet just for giving information (e-biz), some luxury companies use Internet to sell online (e-commerce). Viral Marketing (word-of-mouth marketing) for Luxury brands is developing at very high speed nowadays. By using blog, forum, video-sharing websites and social networking, this word-of-mouth technique became really powerful. It is so many ways to link customers and give them the possibility to speak about their product of brand experiences. But there is negative impact also, which may reduce brands image. Online Customer Relationship Management is very important tool for luxury brands, as main customers of the brand are loyal people. So companies are interested in having very good relation with exiting customers. The Internet has an important power to improve Customer Relationship Management. Like sending updated information to customers (not often in order not to be considered as spam) through e-mails, newsletters, RSS or online communities. To be continued.....

Reading 1

I read Master Thesis of Charlotte Larbanet and Benjamin Ligier about Interactive media in the luxury industry, so my first, second and third reading are all about this thesis. I read many things about use of interactive media in this industry and I want to share my opinion about it.

Role of Interactive media in the Luxury industry (1).

Last semester I had class in Industrial Marketing, so I get interested in the role of Interactive Media in marketing of products. I started to read Master Thesis written at Umeå School of Business, in 2009. The thesis is about using Internet, different interactive tools in the Luxury industry. Luxury products have features like expensive product, exclusivity, prestige, … gives more emotional feelings, life style, shows social status of people. It is niche market. As day by day number of users of Internet is increasing, so authors of the thesis put the question: is it effective to use Internet and different interactive media in marketing and selling the Luxury brands (example Gucci, Louis Vuitton, Dior,…), as there is no physical interaction between seller and customer? (look at the pic. below) And another task of the research was how luxury brands should design and build their websites in order to respect their luxury`s specificities and reach their goals. They observed 8 French and 8 American luxury websites, in terms of technology, interactivity, trust and services. So could these luxury brand websites reach the goals in marketing, Customer Relationship Management? … To be continued (50 pages left).

Source: http://www.gucci.com

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