Via: OnlineEducation.net
Salman Khan talks about how and why he created the remarkable Khan Academy, a carefully structured series of educational videos offering complete curricula in math and, now, other subjects. He shows the power of interactive exercises — and calls for teachers to consider flipping the traditional classroom script…watch the video yourself!
The famous US-based consumer electronics retailer Best Buy announced on February 22, 2011 that it had decided to stop running its nine stores in China. The surprise announcement effectively signaled the end of Best Buy’s eight-year China story in which it spent three years preparing for its market entry and five years expanding itself to nine stores located in Shanghai, Beijing, Suzhou and Hangzhou.
BestBuy is not the first one and definitely will not be the last one to pull out of China. Given the fact that China is strong in electronics and the native retailors are already taking a strong hold in that market, it wasn’t easy for BsetBuy to carve out a piece for itself.
Do you see it as a failure for Best Buy? In fact, Best Buy had failed to gain national influence since its entering Chinese market in 2006 because most of its retail stores were located in East China. There has been talk during the six years about its withdrawal. It has been said that Best Buy’s failure in China is based on its “famous”, “advanced” business model.
It has been well accepted that the Best Buy business model stands for a higher business civilization; nevertheless, a direct consequence of Best Buy model was that the retail store cost was too high, failing to provide a competitive price. It significantly reduced Best Buy’s competitive power in this way, especially in China.
When Best Buy entered China in 2005, the Chinese suppliers were not terrified at all; instead of it, they deeply expected it—the business model of Gome and Suning (Two Chinese biggest household appliance retailers) had had an ingrained vicious circle which was suffocating every supplier. Household appliance manufacturers expected a new model that could contend against the current model; in addition, the carrier must be strong enough—such as Best Buy, the biggest household appliance retailer in the world.
However, the result was disappointing. Best Buy suffered in deficit year by year and after six years, it ultimately came to an end.
Theoretically, the Best Buy “buy out” operation method and “spot trading” were supposed to be the best way to return to essence of retail and the most beneficial model for business ecological harmony. Included in their business model was to obtain the dominant right of the retail store by buying out the products and bear the depreciation loss; the employees of Best Buy are responsible for the sales promotions; making profit by scale purchases and purchase and sale price differentials. Compared to the badly condemned business model of Gome and Suning, Best Buy model stands for a higher business civilization with no doubt.
Do you see it as American morals fail to transcend Chinese consumer market?
Then what exactly is the Gome and Suning model? They enjoy a model that combined commission sale and distribute. They rent the sales area in the store to different household appliance manufacturers. Then they collect the rental fee and a certain percent of the manufacturers’ revenue. Even the sales promotion people are hired or appointed by the manufacturers. The tremendous fast expansion of Gome and Suning was based on collecting the store entrance fee from those manufacturers and returning money to them slowly.
It’s not hard to tell that one of the direct consequences of Best Buy model is the high storing cost—labor cost, advertising cost and other cost for a single store are much higher than one of Gome and Suning. This made Best Buy on one hand fail to provide a more competitive price to the consumers; on the other hand, due to the limited profit from every single store, the pace of Best Buy opening new stores was detrimentally slow—Gome and Suning have thousands of retail stores in China, and Best Buy only had nine. The sales revenue could not satisfy the U.S. headquarters, plus, it could hardly benefit Chinese customers and suppliers; as a result there was no way Best Buy could find a reason to stay in China.
What’s the lesson here?
Be flexible, even it means to change your business model.
Be adaptive, learn from the local business people.
Be innovative, or pull out of the competitive Chinese market.
A social media landing page is a hub on the brand.com site that highlights all the social media platforms the brand is on. Similar to other landing pages, it’s a page tailored for a specific user group that is indexed by search engines. However, unlike landing pages for paid search or display banners, a social media landing page (SMLP) offers very different calls-to-action. They typically include the usual suspects such as engaging the brand, joining the community, and reaching out to other social platforms, which place more emphasize on social conversion instead of traditional sales conversion.
With the key benefits in mind, a well designed SMLP can effectively integrate the brand’s social media assets into the corporate website. Below are some examples of brand’s SMLP with quick assessments-
This multinational fan-based crowdsourced music video had just made my day! I can’t begin to imagine how much coordination it takes to synchronize all those webcams all over the world. It’s eye-opening and jaw-dropping guaranteed, take a look yourself.
For more info on the artists and lyrics, please click here.
Started in December 08, global banking giant HSBC started offering passengers at Heathrow’s Terminal 1 a chance to select magazine articles on topics they’re interested in and have them bound into a hardback form they can take on their flight, according to Springwise. The concept was pretty simple: as travelers enter the enclosure, they are handed a hardback magazine cover. They can then pick and choose from a large selection of loose-leaf articles arranged on the kiosk’s shelves. When they’re done, a staff member at the ‘binding bar’ neatly binds them into the cover to create a personal magazine.
Although this pilot marketing campaign was HSBC trying to promote its Premier banking package, it was definitely a laudable initiative heading in the right direction. As the world becoming more personalized – companies realize they would have to provide customized experience one way or the other. They might not be in charge of the content production, but there is an increasing demand in customization and curation that’s waiting to be fulfilled.
I sincerely hope such perks will roll out to other places around the world in the near future.
Website: www.hsbc.com
Contact: www.hsbc.com/1/2/contact-us
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