DOCSLIB.ORG

The Case of a Rising Coffee Culture in China 3

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Case of a Rising Coffee Culture in China 3 BUSHOR-1499; No. of Pages 14 Business Horizons (2018) xxx, xxx—xxx Available online at www.sciencedirect.com ScienceDirect www.elsevier.com/locate/bushor Challenges and opportunities of new retail horizons in emerging markets: The case of a rising coffee culture in China Jennifer Ferreira *, Carlos Ferreira Centre for Business in Society, Coventry University, Priory Street, Coventry CV1 5FB, U.K. KEYWORDS Abstract Economic growth and a rising middle class consumer base make emerging Emerging markets; markets an attractive prospect for many international businesses. Changing patterns Retail business of retail in these countries present opportunities for business expansion that many development; are keen to capitalize on, but also present challenges for reaching their ambitions. –— Consumer culture; This article examines the growth of the coffee shop industry in China considering its –— Chinese consumer key dynamics and drivers in order to address questions about successful retail behavior; expansion in emerging markets. We aim to explore how changing consumer cultures Coffee industry have contributed to a rapidly growing industry and what strategies businesses have used to enter the market and maintain growth, as well as considerations for potential retail success in the future. # 2018 Kelley School of Business, Indiana University. Published by Elsevier Inc. All rights reserved. 1. Opportunities brewing in emerging and rising middle classes in emerging markets, markets many international businesses are turning their attention to emerging markets for future growth plans in order to exploit the potential of these Due to market saturation for some areas of retail in rapidly transforming markets (Kardes, 2016). mature markets, combined with economic growth Expansion into these markets requires careful consideration. As multiple cases have shown, there are many challenges surrounding different national cultures as well as institutional arrange- * Corresponding author ments and existing domestic competition (Miotto & E-mail addresses: [email protected] (J. Ferreira), [email protected] (C. Ferreira) Parente, 2015). https://doi.org/10.1016/j.bushor.2018.06.001 0007-6813/# 2018 Kelley School of Business, Indiana University. Published by Elsevier Inc. All rights reserved. BUSHOR-1499; No. of Pages 14 2 J. Ferreira, C. Ferreira The coffee shop industry in China represents a retailers; (2) abandonment of state monopolies fast emerging area of retail, reaching $3 billion in and subsequent opening to private businesses; and revenue in 2016; forecasts predict continued pos- (3) introduction of new sources of capital in the itive growth for many years (Euromonitor, 2017). retail sector such as foreign direct investment. The Largely situated in cities, coffee shops in China latter was made possible in part by the opening are becoming an ever-present feature of the of the Chinese market for foreign retailers in the urban landscape. In 2017, Starbucks opened its 1990s, which brought in new retail formats that first international reserve roastery in China, a were quickly copied by local retailers (Wang, 2011). 30,000 square foot roastery and coffee shop de- The other side of retail transformation in China is scribed in the media as a “coffee wonderland” changing consumer preferences and demand. Chi- (Dwyer, 2017). The roastery is located in Shang- nese consumers are part of a growing Asian mod- hai, a city with 600 existing Starbucks stores; by ernism; they are seeking novelty and hungry for opening this style and size of store, Starbucks experiences (Uncles, 2010). Rising incomes–— demonstrated the importance of the Chinese mar- associated with changes such as increased access ket in its operations. However, the factors behind to information and communications technology, in- the growth of coffee shops are multifaceted, ternational media, products, and brands–— are driv- driven by the ambitions of coffee shop chains to ing the growth of a new generation of middle-class expand into new markets as well as changing consumers (Kardes, 2016). These individuals are consumer cultures. often more familiar with Western lifestyles and This article explores the growth of the coffee brands than traditional consumers in these coun- shop industry in China and considers both the op- tries and tend to hold aspirations for improving their portunities and challenges experienced in an lifestyle, often using purchasing choices as emerging market. We utilize the example of China indications of both aspirations and status (Eyring, in an effort to demonstrate how some businesses Johnson, & Nair, 2011; Kardes, 2016; Kharas, 2010; are navigating the new retail landscapes and high- Sheth, 2011). This new consumer class–— with a light potential strategies for operating in these greater disposable income and growing awareness regions. We conclude by outlining a series of rec- and interest in imported brands and trends–— is an ommendations for developing a business in the attractive prospect for many international coffee shop industry in an emerging market–— and businesses and presents new internationalization retail more broadly. opportunities. For many industries, it is not sufficient to trans- fer existing business models and practices used in Western markets into these new emerging markets 2. Emerging markets opportunities: that require greater local knowledge of the mar- The transformation of retail and ket, its particularities, and consumer behavior consumption in China (Gamble, 2010). While rapid economic growth may present opportunities for expansion into in- Emerging markets such as China, India, and Brazil ternational businesses, in many cases, it also have been experiencing economic growth, chang- means growing domestic competition which has ing demographics, and cultural transformations the advantage of a greater understanding of the with consequent changes to the urban retail land- national market, its consumer base, and consumer scape (Javalgi & Grossman, 2016; Wang, 2011). The cultures (He & Wang, 2015; Talay, Townsend, & evolution of the Chinese retail sector since the Yeniyurt, 2015). There are complexities to many fi 1990s is one example of this. In rst-tier Chinese of these emerging markets and different processes cities, in particular, there is evidence of conver- of business hybridization must take place (Gamble, gence with international norms and trends, making 2010). Some international businesses recognized Chinese retailing less distinguishable from what is this and engaged in partnerships with local compa- available elsewhere (Uncles, 2010). New retail nies in order to break into a market, thereby –— formats particularly super- and hypermarkets acquiring an existing local knowledge base. In some –— and shopping centers have expanded, while tra- cases, complexities of the market restrict busi- ditional retailing (i.e., general merchandise nesses development and do not allow enough au- stores, family-owned shops, and urban markets) tonomy, and in other cases this strategy has not led has declined (Wang, 2011). Wang and Zhang (2005) to the success that was hoped for (Doherty, 2009; fi identi ed three drivers of transformation in the Khan, Lew, & Sinkovics, 2015). –— Chinese retail sector: (1) retail deregulation Some view emerging markets as unsaturated especially lower state control over individual and poised for growth and the middle-class BUSHOR-1499; No. of Pages 14 The case of a rising coffee culture in China 3 consumers therein a viable target for business 3. A growing coffee culture operations (Javalgi & Grossman, 2016; Welsh, Alon, & Falbe, 2006). While this may be the case 3.1. Coffee consumption and the growth in some sectors and places, there is a range of of coffee shops in China challenges associated with attempting to estab- lish a presence in these markets. These countries According to the International Coffee Organization contain substantial diversity: While much eco- (ICO, 2015), the average person in China drinks only nomic growth may be concentrated in urban cen- four cups of coffee a year compared with 300 in ters (Sheth, 2011) there are also distinct regional South Korea and 150 in Hong Kong, although this differences (Peng, Wang, & Jiang, 2008; Schlager number is growing. The per capita data for China is & Maas, 2013), which can be associated with heavily affected by the fact that coffee consump- different consumption behaviors (Miotto & tion is concentrated in cities and almost nonexis- Parente, 2015). Furthermore, there is potential tent in rural areas (Han & Zhang, 2009). The growth for greater diversity in the consumer base in terms in coffee consumption and the growth of coffee of price sensitivity. While there may be a growing shop spaces as business development opportunities –— middle class, much of the country particularly has been recognized by the wider coffee and busi- –— outside the urban centers may still operate at ness community in China. In 2014, a strategic co- much lower price points; this may present a bar- operation agreement was struck between the Food rier for future growth unless it is taken into ac- Hospitality World China (FHW) and ACA (Asia Coffee count in the creation of new business models Association) to facilitate the promotion of coffee (Reinatz, Dellaert, Kraft, Kumar, & Varadarajan, culture through FHW, one of the largest professional 2011). As such, businesses consider some of these food associations in South China (WorldEx, 2014). fi markets not as a homogenous playing
Load more

Recommended publications
  • GENERAL FOODS CORPORATE TIMELINE 1895 Charles William
    GENERAL FOODS CORPORATE TIMELINE 1895 Charles William (C.W.) Post makes his first batch of Postum cereal beverage in a little white barn in Battle Creek, Michigan. With that step he enters the new retail cereal industry. 1896 Post’s company incorporates as The Postum Cereal Company, Ltd. 1897 C.W. Post introduces Post Grape-Nuts cereal, one of the first ready-to-eat cold cereals. 1914 C.W. Post dies and ownership of the business passes to his daughter, Marjorie. The Postum Cereal Company continues to follow the formula for success which C.W. established: selling high-quality, nutritious cereal products through marketing and advertising techniques that appealed to the common man and woman. The company invests over twelve million dollars in advertising between 1895 and 1914. 1922 The company reorganizes as the Postum Cereal Company, Incorporated. By 1923 The company’s executive offices are located at 342 Madison Avenue, New York with manufacturing facilities in Battle Creek, Michigan and Windsor, Ontario. 1923 The Postum Cereal Company, Inc. establishes an employee stock plan. 1924 An Educational Department is formed and one of its principal activities is providing consumer nutrition education. The department publishes nutrition stories for children and a nutrition handbook on school lunches for use by teachers, health workers and food service directors. In 1931, the department name is changed to Consumer Services. The Postum Cereal Company posts sales of over $24 million. The company’s executive offices are now located in the Postum Building at 250 Park Avenue, New York City. 1925 The Postum Cereal Company acquires the Jell-O Company for $67 million in cash and stock.
    [Show full text]
  • Building a Trusted and Connected Customer Experience in China
    Customer first Building a trusted and connected customer experience in China KPMG China Customer Experience Excellence report kpmg.com/cn ¥ ¥ ¥ Foreword In our first KPMG China Customer Experience Excellence report, we look in detail at the state of customer experience in China to understand what market leaders are doing to drive success. Many of our clients prioritise customer centricity While technology has played a pivotal role in and are continuously looking to improve customer reducing time and effort, and improving convenience experience. In order to accomplish this, organisations for customers, creating a personalised offering, need to have an up-to-date understanding of their engendering trust and delivering a brand promise customers and readily adjust their operations to that resonates with customers are also shown to be meet customers‘ needs. immensely important. The KPMG China Customer Experience Excellence Looking ahead, the Greater Bay Area (GBA) initiative report focuses on mainland China and Hong Kong will be the next force of change for customers customers to find out what they value most when in mainland China and Hong Kong. Improved interacting with brands, and understand what infrastructure and transport connectivity means that other factors are important for organisations to companies which optimise their customer strategy successfully deliver a market-leading customer accordingly will be better positioned to maximise the experience. To explore the topic, KPMG China took new business opportunities available. part in a survey of over 5,000 customers, who were asked questions about more than 200 brands across We hope our insights provide you with a more mainland China and Hong Kong.
    [Show full text]
  • Coca-Cola's Swoop for Costa Coffee Will Cut Its
    COCA-COLA’S SWOOP FOR COSTA COFFEE WILL CUT ITS EXPOSURE TO SUGAR AND PLASTIC BOTTLES THE GROWING LOATHING FOR THE WHITE STUFF MUST KEEP SOFT DRINKS EXECS AWAKE AT NIGHT By IMD Professor John W. Walsh IMD Chemin de Bellerive 23 PO Box 915, CH-1001 Lausanne Switzerland Tel: +41 21 618 01 11 Fax: +41 21 618 07 07 [email protected] www.imd.org Copyright © 2006-2018 IMD - International Institute for Management Development. All rights, including copyright, pertaining to the content of this website/publication/document are owned or controlled for these purposes by IMD, except when expressly stated otherwise. None of the materials provided on/in this website/publication/document may be used, reproduced or transmitted, in whole or in part, in any form or by any means, electronic or mechanical, including photocopying, recording or the use of any information storage and retrieval system, without permission in writing from IMD. To request such permission and for further inquiries, please contact IMD at [email protected]. Where it is stated that copyright to any part of the IMD website/publication/document is held by a third party, requests for permission to copy, modify, translate, publish or otherwise make available such part must be addressed directly to the third party concerned. COCA-COLA’S SWOOP FOR COSTA COFFEE WILL CUT ITS EXPOSURE TO SUGAR AND PLASTIC BOTTLES Coca-Cola’s £3.9 billion acquisition of Costa Coffee has made quite a ripple. Atlanta-based Coca-Cola is obviously best known for its soft drinks portfolio, found in supermarkets, kiosks, hotels, bars and restaurants around the world.
    [Show full text]
  • Coca-Cola HBC Strengthens Its Coffee Portfolio with Minority Stake in Casa Del Caffè Vergnano and Exclusive, Long-Term Distribution Agreement
    Coca-Cola HBC strengthens its coffee portfolio with minority stake in Casa del Caffè Vergnano and exclusive, long-term distribution agreement Zug, Switzerland, 28 June 2021. Coca-Cola HBC AG (“Coca-Cola HBC”) is pleased to announce that on 25 June 2021, its wholly-owned subsidiary CC Beverages Holdings II B.V. (“CCH Holdings”), reached an agreement to acquire a 30% equity shareholding in Casa Del Caffè Vergnano S.p.A. (“Caffè Vergnano”), a premium Italian coffee company. Completion of the acquisition is expected in the second half of 2021 and is subject to customary closing conditions and regulatory approvals. Furthermore, Coca-Cola HBC and Caffè Vergnano will enter into an exclusive distribution agreement for Caffè Vergnano’s products in Coca-Cola HBC’s territories outside of Italy (together, the “Proposed Transaction”). CCH Holdings will be represented on the Board of Directors of Caffè Vergnano and have customary minority decision-making and governance rights. The parties have agreed not to disclose financial details of the Proposed Transaction. Caffè Vergnano is a family-owned Italian coffee company headquartered in Santena, Italy. It is one of the oldest coffee roasters in Italy with roots dating back to 1882. Its product offering consists of truly premium, high-quality coffee that represents Italian heritage and authenticity at its best. Caffè Vergnano’s portfolio includes traditional espresso in various blends, packages and formats such as beans, roast and ground coffee and single portioned pods. In 2020, the company sold approx. 7,000 tons of coffee in more than 90 countries worldwide. The Proposed Transaction represents an important milestone in Coca-Cola HBC’s vision of being the leading 24/7 beverage partner across its markets.
    [Show full text]
  • Hotel Restaurant Institutional HRI Food Service Sector
    THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: 9/1/2010 GAIN Report Number: HK0012 Hong Kong Food Service - Hotel Restaurant Institutional HRI Food Service Sector Approved By: Erich Kuss Prepared By: Chris Li Report Highlights: U.S. exports of high value food products and seafood to Hong Kong are expected to reach a record level at over US$2 billion in 2010, making it our 4th largest market for these products after Canada, Mexico and Japan. The global financial crisis did not have a significant impact on Hong Kong’s food & beverage imports and spending on food. Economic growth in Hong Kong is expected to be around 5% in 2010, benefitting from the continued economic growth in Mainland China. In addition, it is expected that Hong Kong will remain as one of the top 5 markets for U.S. consumer ready food products in 2011, continuing to be a major buying center and transshipment point for China and Southeast Asia. However, rents and wages are on the rise in Hong Kong and inflation may limit Hong Kong’s future economic growth. In addition, Mainland China is expected to take austerity measures to cool down its economy in late 2010 and 2011 and these measures could also impact Hong Kong’s economic growth. Even with lower economic growth, post expects that U.S. products will continue to fair well due to competitive prices and consumer confidence in the quality and safety of U.S.
    [Show full text]
  • A Magazine for the Women of Hong Kong T May 2014
    ".BHB[JOFGPSUIF8PNFOPG)POH,POHt.BZ CCWM AWA Half Jan 2014 Horizontal.pdf 1 3/12/2014 5:02:32 PM MAY 2014 The American Women’s Association of Hong Kong, Limited. Established in 1956 A volunteer organization of international women supporting Hong Kong charities and schools through community service and monetary grants, while providing educational and social activities for members. 12 AWARE PRODUCTION STAFF EDITOR Joy Murray Tel: 6773 7036 [email protected] Membership Information 3 ASSISTANT EDITORS Carole Atkin WOW Update 4 Laura Metoudi AWA Enjoys 6 Lori DiCarlo Angela Bellas 10 ConLove at First Sight tents 8 Rachel Bourke Exploring Chinese Culture 10 ADVERTISING MANAGER Tsim Sha Tsui 12 [email protected] Asia Tour - Tibet 16 PUBLISHED & PRINTED BY Giving New Hope 18 R&R Publishing Ltd. Local Tours and Activities 20 2126 7812 [email protected] On-going Activities 27 www.rrpublishing.com.hk Sporting Activities 30 Contact Information 33 16 Office is open from Monday-Thursday 9:30am-3:30pm. The AWA office will be closed for Easter on Monday 21 April 2014 VISIT THE AWA WEBSITE: www.awa.org.hk FIND US ON FACEBOOK: www.facebook.com/awahk Any opinions expressed in this publication are those of the author only and do not represent the opinion of the American Women’s Association. Any reliance by the reader upon any recommendation or opinion in this publication is at the reader’s own risk. The AWA accepts no responsibility for any loss which may result from such reliance. Copyright 2014. The content of the Aware publication is the property of the American Women's Association Reproduction in whole or part without permission is strictly prohibited.
    [Show full text]
  • Proposed Acquisition of Costa Limited
    PROPOSED ACQUISITION OF COSTA LIMITED AUGUST 31, 2018 FORWARD-LOOKING STATEMENTS This presentation may contain statements, estimates or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” “plan,” “seek” and similar expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from The Coca-Cola Company’s historical experience and our present expectations or projections. These risks include, but are not limited to, obesity and other health-related concerns; water scarcity and poor quality; evolving consumer preferences; increased competition; product safety and quality concerns; perceived negative health consequences of certain ingredients, such as non- nutritive sweeteners and biotechnology-derived substances, and of other substances present in our beverage products or packaging materials; an inability to be successful in our innovation activities; increased demand for food products and decreased agricultural productivity; an inability to protect our information systems against service interruption, misappropriation of data or breaches of security; changes in the retail landscape or the loss of key retail or foodservice
    [Show full text]
  • Hong Kong Food Service
    THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: 9/19/2018 GAIN Report Number: HK1824 Hong Kong Food Service - Hotel Restaurant Institutional Food Service - Hotel Restaurant Institutional Approved By: Alicia Hernandez Prepared By: Chris Li, Annie Lai Report Highlights: Hong Kong is the 4th largest export market for U.S. consumer-oriented agricultural products, by value. With a dynamic food culture, sophisticated buyers, and world class logistical infrastructure, Hong Kong is a market to promote high-quality, innovative U.S. food and beverage products as well as a gateway to the region. As hotel and restaurant expansions continue, demand for high-quality U.S. food and beverage products by the Hotel, Restaurant, and Institutional food service sector in Hong Kong is expected to remain strong. Post: Hong Kong Market Fact Sheet: Hong Kong Executive Summary Quick Facts CY 2017 Hong Kong has a population of 7.39 million and its per capita GDP was over Imports of Consumer-Oriented Ag. Products US$46,000 in 2017, more than the U.S. and one of the highest in Asia. Hong US$20.4 billion Kong is a vibrant city, and a major gateway to Asia. Consumers are sophisticated and enjoy cosmopolitan food tastes. Due to limited arable land, around 95 Top 10 Consumer-Oriented Ag. Imports percent of foods in Hong Kong are imported. In 2017, imports of agricultural and Fish, beef, fresh fruit, pork, dairy products, food preparations, poultry, related products reached US$27.6 billion.
    [Show full text]
  • The History of Kraft Foods Inc
    The History of Kraft Foods Inc. All About Kraft Learn everything there is to know about Kraft: like who we are, how you can reach us and what we’re doing in your community. Kraft Foods Inc. is a company with many different roots and founders, all sharing a commitment to quality, a willingness to take risks and a spirit of innovation. Among the products now sold by Kraft Foods Inc. are so many “firsts” and innovations that a history of the company is almost a history of the food industry. Kraft traces its history to three of the most successful food entrepreneurs of the late 19th and early 20th centuries — J.L. Kraft, who started his cheese business in 1903; C.W. Post, who founded Postum Cereal Company (later renamed General Foods Corporation) in 1895; and Oscar Mayer, who began his meat business in 1883. The Story of J.L. Kraft The history of KRAFT goes back to 1903, when, with $65 in capital, a rented wagon and a horse named Paddy, J.L. Kraft started purchasing cheese at Chicago’s Water Street wholesale market and reselling it to local merchants. Within a short time, four of J.L. Kraft’s brothers joined him in the business, and, in 1909, they incorporated as J.L. Kraft & Bros. Co. In 1914, J.L. Kraft and his brothers purchased their first cheese factory in Stockton, Illinois. In 1915, they began producing processed cheese in 3-1/2 and 7-3/4 ounce tins. J.L. Kraft’s method of producing processed cheese was so revolutionary, in 1916 he obtained a patent for it and in 1917 the company started supplying cheese in tins to the U.S.
    [Show full text]
  • K-Cup® Packs • Coffee Accessories • Breakroom Furniture
    K-Cup® Packs • Coffee Accessories • Breakroom Furniture DONUT SHOP K-CUP®PACKS PRODUCT # DESCRIPTION QTY PRICE GMT 6248 Coconut Mocha 24 13.99/bx DIE 60052101 Bold 24 13.65/bx COFFEE DIE 60224101 Decaf 22 13.99/bx ® DUNKIN DONUTS K-CUP®PACKS K-CUP PACKS PRODUCT # DESCRIPTION QTY PRICE GMT 202810 Colombian 24 14.75/bx BARISTA PRIMA COFFEE K-CUP®PACKS GMT 202811 Cinnamon Roll 24 14.75/bx PRODUCT # DESCRIPTION QTY PRICE GMT 202812 Pumpkin Spice 24 14.75/bx GMT 6611 French Roast 24 13.99/bx GMT 81463 Dunkin Dark 24 14.75/bx GMT 6612 House Blend 24 13.99/bx GMT 81466 Hazelnut 24 14.75/bx GMT 6613 Colombia 24 13.99/bx GMT 81467 French Vanilla 24 14.75/bx GMT 6614 Italian Roast 24 13.99/bx GMT 81468 Dunkin Decaf® 24 14.75/bx GMT 6624 Italian Roast Decaf 24 13.99/bx GMT 81469 Original Blend 24 14.75/bx EIGHT O’CLOCK COFFEE K-CUP®PACKS CAFE ESCAPES® MOCHA K-CUP®PACKS PRODUCT # DESCRIPTION QTY PRICE PRODUCT # DESCRIPTION QTY PRICE GMT 6405 Original 24 12.69/bx GMT 6812 Vanilla 24 15.23/bx GMT 6406 Hazelnut 24 12.69/bx GMT 6813 Caramel 24 14.75/bx GMT 6407 Colombian 24 12.69/bx GMT 6803 Mocha 24 15.23/bx GMT 6408 Dark Italian Roast 24 12.69/bx GMT 6425 Original Decaf 24 12.69/bx CARIBOU COFFEE® K-CUP®PACKS PRODUCT # DESCRIPTION QTY PRICE FOLGERS COFFEE K-CUP®PACKS LIGHT ROAST PRODUCT # DESCRIPTION QTY PRICE GMT 6994 Daybreak Morning Blend 24 13.65/bx GMT 0570 Lively Colombian Decaf 24 13.44/bx MEDIUM ROAST GMT 0162 Hazelnut Cream 24 13.44/bx GMT 6992 Caribou Blend 24 13.65/bx GMT 6659 Lively Colombian 24 12.99/bx GMT 195694 Vanilla Hazelnut Dreamstate
    [Show full text]
  • Cultural Innovation: Triumph of a Better Ideology’ Look to Anthropology for Inspiration
    QUARTER 1 JANUARY 2012 NEW THINKING, DIFFERENT PERSPECTIVES Cultural innovation: triumph of a better ideology Douglas Holt and Douglas Cameron NEVER WASTE A GOOD CRISIS Sir Terry Leahy QUARTER 1 QUARTER 2012 JANUARY ACCOUNTABILITY IS NOT ENOUGH Rory Sutherland THROUGH THE GLASS CEILING Janet Hull 1 cover.indd 1 28/11/2011 19:34:31 Market Leader_Experienica.HR.pdf 1 11/11/2011 13:05 Editorial Keeping brands healthy i rEcEntly attended a lecture on the applications of neuroscience to marketing. All the data marketers will ever need, it was claimed, can now be obtained from ‘neurometrics’ – via MRI scanning, EEG measurement and eye-tracking devices. I listened to the lengthening list of uses with mounting disquiet and an article formed in my mind entitled ‘Caution: neuroscience may be dangerous to the health of your brand’. The lead article in this issue provides the explanation of why the skills required for brand building live in a parallel universe. Douglas Holt and Douglas Cameron in ‘Cultural innovation: triumph of a better ideology’ look to anthropology for inspiration. It is commonplace to say that brands live in the mind (as opposed to the factory). But where they really live is in culture, in society’s norms, values, codes and practices. And while yes, neuroscience and anthropology can exist together, the danger is in what we qualitative researchers call ‘physics envy’ (the need to elevate market research to the level of the pure sciences). Put access to the brain – the human version of the Rosetta Stone – together with lots of gadgetry that measures things and before you know it, the new and intriguing drives out the old but essential.
    [Show full text]
  • Chartered Secretaries American Express Credit Cards
    Chartered Secretaries American Express Credit Cards Chartered Secretaries American Express® Platinum Credit Card and Chartered Secretaries American Express®Gold Credit Card are two co-branded cards that have been created in collaboration with The Hong Kong Institute of Chartered Secretaries (HKICS) and have been specifically designed to recognise and benefit our members. As a Member/Graduate/Student of HKICS, you are cordially invited to become a Chartered Secretaries American Express Platinum or Gold Card Cardmember. This card provides a highly convenient way to pay for HKICS membership fees, CPD events and seminars, examination fees and other fees. Application forms Exclusive privileges Merchants List Application forms Chartered Secretaries American Express Platinum Credit Card application form Chartered Secretaries American Express Gold Credit Card application form Application with required documents should be sent to: American Express International Inc Attn: New Accounts GPO Box 11250 Hong Kong Note: 1. Terms and conditions apply to the above offers and privileges. Please visit www.americanexpress.com.hk to learn more. 2. The Chartered Secretaries American Express co-branded Card is a privilege from HKICS. All Credit Card applicationapprovals will be at the sole discretion of American Express International Inc 3. For any enquiries, please call 2277 1370 Back to top Exclusive privileges: Chartered Secretaries American Express® Platinum Credit Card Half annualfee waiver saving you HK$800 a year Generous welcome offers including HK$500 Lane Crawford or Esso Synergy Fuel Cash Voucher, plus 10X Membership Rewards points in the first 3 months, up to 300,000 points Up to HK$500 travel package discount coupon when you purchasing travel packages from Farrington American Express Travel Services Ltd.
    [Show full text]