TECHNOPRENEURSHIP-2: Exercise-4 (Identify and discuss Trends and Opportunities in convergence)

In the pass meeting we have watched the video clip or a documentary presenting facts and information about the start up business of Guy Kawasaki that compose of interesting topics just like make a meaning. That topic have three subtopics such as increase the quality of life, right a wrong and prevent the end of something good. In line of this our instructor follow up some of discussion about the marketing convergence, under this discussion we have the subtopics like death of consumer, internet marketing magic and venture to eCommerce. In addition the highlight at that time was the trends and opportunities in convergence this was under the model where introduce to us the SEED model, E stands for “Environmental Mastery”.

So if you can hear the word convergence what are the things or how can you state or describe clearly? If we talk about convergence it means coming together from different directions, especially a uniting or merging of groups or tendencies that were originally opposed or very different. However from the site where I surfed the convergence means is a process that entails a lot of innovation and new ways of thinking out of the box. Gary Hamel once said, “The greatest rewards go to companies that create new business models, spark new ideas, new markets, new sources of revenue based on changing technology, demographics and consumer habits.” C.K. Prahalad, added “Today’s customers are more informed, networked, active and global. The writer deliver the quote to us that the new market characteristics have led to a new form of value creation, where value is co-created by the both the company and its customers.” These two great strategists have underscored product success only when customers are involved in their development.

From the meaning it is all about both customers and the companies. Thinking new ideas or they say a new business models for tall the consumers are like an award from Oscar that have a great impact from one company. Today the businesses are not only for creating their wants but also the consumers where they can make and had some ideas or the customer is always right. It means the consumer can customize their own style or what they want. Today many changes in our industry for some improvements so that they can provide the wants and needs of consumers. Since the new era or the style of living today have different way in growing more capable one. Not like in the pass years our industry of business are common and ordinary business, like producing such product that they made then sell it to the market. The consumers can choose only a different color or even a shape. They can’t customize their stuffs on their wants and needs. Can you imagine? The old era of our business can’t give our satisfactory not only our self but also our money expending much of it. Readymade products that can’t be customize and can’t be change according to our wants and needs, it is satisfying to you? Some are satisfied on what they offer. But what if we change it from new era that the consumers can create and change according to their style or we called it wants. The new era improve the marketing today.

Introducing the “Marketing Convergence” How the Leading Companies Are Profiting from Integrating Online and Offline Marketing Strategies will enable you to market your products and services more effectively using the Internet. You will increase your organization’s profitability because you’ll know how to navigate the minefields of online, interactive, and traditional marketing. You’ll have the key strategic insights into integrating your marketing across all media, and you’ll know how those strategies profitably—the way they have been used by some of the world’s smartest marketers. By: Susan K. Jones and Edward J. "Ted" Spiegel. From above discussion for me it is all about the convergence of two factors in earning money, the online marketing and offline marketing strategies. In that way the consumers can market through using online. These strategy has advantage too because several people today used an internet for their communication purposes but in that communication they can advertise of market their products. Services and products are more effectively using online, for example the much known social online communication today the Face book. These we called the technological era. We can see several account in face book that advertising there products even their services. The company or business increase there profitability in the sense of navigating or surfing from internet way, interactive and traditional marketing strategy, so they can have their insights into integrating the marketing across all media. Inline of these there are few sections to have the marketing strategy convergence.

Section I helps you identify the key signs to watch--and watch out for--including:

• The most profitable ways of “marrying” marketing and technology for greater market reach, brand building, and profitability.

• The truly critical components of successful convergence and integration.

• How to zero-in on the new savings—and avoid the new costs—of the new media.

• Rediscovering the power of testing through Internet “speed-of-light” testing.

• Maintaining the all-important human touch in all marketing and media channels.

• Putting profitability, community, and “stickiness” into proper perspective.

Section II gives you the inside stories of the leaders of marketing convergence—the smart marketers who avoided the hype and capitalized on the substantial benefits of integrated marketing strategies and tactics. Some are well-known, others aren’t. But they share one thing: They used the strategies in this book to tailor their marketing programs to profitably meet the online and offline needs of their customers.

The days of gaining instant riches online with no thought to the basics are gone. So are the days of broken promises, alienated customers, and disillusioned stockholders. The tools and hard-won experience chronicled in Marketing Convergence can make profitable integrated marketing a reality for you and your every company.

Those sections are stated also by Susan K. Jones and Edward J. "Ted" Spiegel. The objective of there theory was to give knowledge of those people who building there own marketing convergence and have some improvement of their won idea. The two writers want us to avoid in the hard sell and capitalized on the substantial benefits of integrated marketing strategies and tactics. The market today have change the characteristics that can led to the new form of assessment conception, the objective is to combine the two factors of marketing the consumers and the company. The market today can offer some value that can create by the both of their company and its consumers. These new market characteristics have led to a new form of value creation, where value is co-created by the both the company and its customers.” These two great strategists have underscored product success only when customers are involved in their development. But there are some of disadvantages because not all marketers and organizations can effectively handle or initiate disruptive innovations. It means some of the new company handles the new era of marketing products are not suited to their skills and those are can lead to the failure of business. We all know that in the life of business or technopreneur has two faces the success and the failure. It will cost a big experience to handle the difficulty of creating and developing completely new ideas and make it to the market and introduce it to the people what are the changes of the products. Under this situation there are tips on how to manage successful, market-driven innovations. It is the steps introduce are timeless marketing principles that recreate to suit new age marketing in a convergent market. I surf it from the internet some steps that the new age of marketing is in convergent market. These include: identifying and knowing the target market while discovering emergent markets; recognizing unarticulated needs and making customers co-creators of the value offer; maximizing people creativity; using technology as an enabler; and sustaining co-creation by responding and anticipating the evolving needs of the market while maintaining functional relevance.

So much for that there are also a trend of marketing convergence it is depending on the demand or result, needs and wants of the community. Century ago and many years grown up from the old era, now we are now in the era of technology the demands or requests of the human beings are more growing and growing according to their wants and needs it is increasingly high. A convergence of technology has a result that gives the consumers the convenience of having a changeable or they can customize according to their wants and can give there needs according to the style of living. When technological convergence first gives birth to a new multi-technology, the various technologies it is comprised of are usually at a slightly lower standard than independent devices. Usually within a year or two, however, this disparate quality is reduced to a virtually unnoticeable level. Technological convergence if appropriately managed can play an important role in national economic and social development of every nation. Governments can capitalize on the opportunity to stimulate market development and meet previous unmet society communication needs.

As a newly born technopreneur, I am not fully aware of what marketing convergence can bring benefits to my business. However, I already have some facts and hints on this area. One of the best methods on how this convergence can be imparted is through the online internet. That’s how great and powerful internet is. Buyer is not anymore “Consumer”. They are now called to be a “Prosumer”. One of the advantages of being a Prosumer is they can demand and request products and services from the company. And I guess it is better to be prosumer nowadays. Customers will still respond to more traditional marketing approaches, but increasing- ly they are better informed, more skeptical and more resistant to a company’s messages. These customers will seek information for themselves both on and off your site and will want to communicate to the organization directly not simply through a corporate channel. The human capital era or knowledge economy demands forward thinking, highly intuitive, reflective and creative thinkers while making obsolete mainstream thinking. Today’s marketers are challenged to develop new, disruptive products and services responsive to market needs. New age marketers are capable of imagining products and services, new markets and entire industries that do not yet exist and give them birth and life. This we call convergence help those company to improve and produce a better product and services to the goods of the consumer. Prosumer are those people who are not fully satisfied what are just available. But also they are the one who choose and decide what’s that they think it would be the best for them. As a student, I prefer to be what prosumer than to be a consumer. It is because prosumer can do better and more than consumer can. In fact I had read from the internet article that says “Customers want to call, click or visit with seamless interaction across online and offline channels, in person, by phone, on the Internet or through wireless”, say the authors of Convergence Marketing. From this line, this is more concern to the easier and fast access of communication to the company they want to have orders. A target market can be any segment of the population. Today, there are several emerging markets in the world. Emerging markets pertain to market segments that have not yet been fully explored but show a lot of promise Companies need to design strategies that combine the strategies to address them all.they should be more idealistic and realistic to what people need. Today, for example, press releases should be written for both online distribution and web site optimization, sent out to different editors and written and distributed in very different ways. Advertising is one of the example that suite to the need to a simple and uncomplicated showing or proposing products and services to customers. Even though I am a certified user of internet, I still have the gradual knowledge of earning money from it. And I believe that convergence is about maximizing people’s creativity.