2.3 Transing

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Intro to International Marketing

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Yonsei University

Intro to International Marketing

214 notes

Cours 1 sur 6 dans Specialization International Marketing & Cross Industry Growth

About this Course This course brings together two key subjects, International Marketing and Cross Industry Innovation. It will provide the basic foundations of international marketing and then explain how companies can grow by going abroad or sourcing ideas/expanding into other countries or industries. This is summarized as CCCI: Cross-Country and Cross-Industry Innovation, a term and analytical platform used throughout not only this course but others in the specialization. As an introductory course, we keep the concepts short and simple in order to ease learners into the wonderful world of international marketing. More specific operational aspects such as managing the product, price, place and promotion as well as targeting and positioning will be provided in the second course of the specialization. After you successfully complete this course learners will obtain the following outcomes: (1) an understanding of the core meaning of marketing and international marketing. (2) learn that international marketing is about striking the right balance between maximizing the similarities across cultures (Etic approach) and customizing marketing (Emic approach) to important local differences. (3) learn about how to source or expand into other industries at home or abroad via cross industry innovation. (4) obtain a solid foundation for subsequent courses such as course 2 (International Marketing Entry and Execution) and the industry-specific courses in the specialization.

À partir de la leçon

What is Marketing Strategy?

After completing Video 2.1 successfully, you will be able to explain marketing strategy basics and avoid marketing myopia. You will also be able to use the VSA framework tool in order to find weak signals and help your company survive market tsunamis. Next, in Video 2.3 you will learn a key concept called "Transing" which is a strategy for coping with change in the corporate environment. We apply "Transing" not only to brands, such as Starbucks, but also to individuals, such as Professor Dae Ryun Chang to illustrate how we can transition when aspiring for loftier long term goals. Transing then sets you up for Video 2.4 and the core concept of Cross Industry Innovation -how companies can source ideas or expand into different industries. In the last two videos, you are given the opportunity to hear from two experts in the field: (1) Mr. Siwan Ryu discusses how Mosquito Away, a major new product was developed at LG Electronics with cross-disciplinary collaboration and (2) Ms. Hye-Won Lee talks about how Swarovski's new product ideas such as wearable jewelry was sourced from other industries.

2.1 What is Marketing Strategy?13:30

2.3 Transing11:16

2.4 Cross Industry Innovation12:02

2.5 LG Interview (Siwan Ryu)9:07

2.6 Luxury Marketing Interview H. Lee1:33

Rencontrer les enseignants

Dae Ryun Chang
Professor of Marketing
School of Business

Welcome to the segment on transing.

In this segment I will explain what transing means.

We will see that it happens in many different domains

and to give you a very practical sense of how to transe.

We will apply it to Starbucks and to yours truly.

Okay, what is transing?

It sounds like something from a science fiction movie or novel.

It's a word that my brother and I coined in our various papers

to discuss how we can cope with change.

Because change has become such an occurrence in all walks of life.

And we borrow the word from the Latin prefix -trans,

which means, among other things, across, carry, beyond.

And we see it in words like transfer and transcend.

And we know that the domains,

whether it's technology and even culture, now are colliding.

And so the lines are becoming increasingly blurred.

Again, transing occurs in many different domains and

we discuss a lot of these in our papers.

But here I'll keep it to maybe two domains where we can

see examples of how, again it's becoming very blurred.

An area like, music.

Where you have artists like Lady Gaga, Susan Boyle and

Psy, who defy age, who defy background.

Who defy even cultural appeal.

In short, they transcend conventional boundaries.

And we see it in media.

So in marketing, media really matters a lot and

it's becoming very difficult to know what media to use when.

And a lot of companies end up using, sort of this trans media strategy.

A company like Uniqlo,

who is increasingly using online media to market their products.

Periodically, they hold something called a lucky line.

Which is a virtual queue.

And in some cases, millions of people queue in line to get this prize.

That's something that you wouldn't do in the offline world,

but can in the online one.

Also, YG Entertainment, a company that we will visit.

They hold hologram concerts, which is enabling them to

expand their global reach.

Okay, so what to do in the age of transing.

Simply put, you have to have an open mind, even in terms of strategy.

So this is what we call Flexible Fit.

So the Fit part,

I think that's pretty consistent to existing thoughts about strategy.

But the Flexible part speaks of the kind of the adaptive

risks that we have to take to address the potential threat,

the potential tsunamis taking place in our environment.

So let's apply that to a Starbucks.

Let me preface my remarks that saying that this is my analysis of Starbucks.

And even though I have visited Starbucks, I talked with executives.

Their position on how they cope with change might be slightly different.

But in my perspective, Starbucks is transing very, very well.

At all V, S and A levels, of course which stands for

Vision, Strategy and Action.

That is a sign of good transing.

So from their vision standpoint, this is just from their website.

It looks pretty sort of consistent to what they've been doing,

but I think the key difference, the key evolution,

is that no longer is this emphasis on just coffee.

So their vision I think embraces other drinks, maybe even other businesses.

And we get a clearer sense of that at the strategy level.

Where of course they have the Fit part,

where they will continue to grow their coffee business.

But more and more, they will also address the sort of

the newer markets where they might have higher growth.

And that is the Flexible part.

And of course that's reflected in their actions.

So I won't go into the details, you can read the fine print later.

But their Vision, Strategy and Action are, I think, twofold.

So even though, maybe, for the most part, and again the percentage could be 90% or

more is still on coffee, it's I think, that other

10% where they address changes taking place in their environment.

And, you'll note that V, S and A are aligned.

So, I have this numeric system, here, where for strategy one,

which address their Fit part, you have aligned action, various actions.

But likewise, for their V-S2,

which addresses the Flexible part.

And there are many components of that.

But one key change that we've all

noticed is that there no longer is

that sort of coffee sign on their logo.

In way, they're paving the way for consumers to

know that Starbucks is into more than just coffee.

They're transing.

They're going beyond coffee.

And so we see this vertical alignment between their V, their S and their A.

But we also see a horizontal alignment in terms of,

even though we may be thinking about product, there has to be sort

of this consistency with their other marketing mix component.

Whether it's price, whether it's a place and promotion.

And likewise for the other components between their other brethren.

Okay, lastly, how am I transing?

Well, I have always endeavored to reach people with a message but

I think until now, my audience has been very specialized.

A very academic, very business related audience.

But I aspire to reach more people, so

the Flexible part is where I'm trying to trans to a non-business audience.

Through a non-business medium, such as through filmmaking.

Such as through maybe writing short stories.

Such as through maybe, because I have some artistic talent, drawing webtoons.

And so I have already made two

short films, fictional narratives.

And this enables me to talk about some social issue that I wanted to address.

So this is very different from sort of the usual academic model

that I think most academics follow.

But again, it's me trying to transcend so

that I can attain my vision of reaching a broader audience.

And I've noted that my experience in this new

vocation helps me in my existing day job.

It's enabled me to become a better professor,

because I think I see more in terms of as a filmmaker,

needing to understand the of my different characters.

And that's the beauty of transing, you realize that

even though you think starting out that it's something very different,

if you transcend at a higher level, you begin to see these linkages.

So as a personal transing process,

I encourage you to likewise have this more transcendent vision.

To apply this to a strategy, of course,

the concentration might be more on the Fit part.

But depending on how much sort of growth you want,

maybe sort of the Flexible part has to be increasingly expanded.

I'm a firm believer that you have to act upon your strategies.

It can't be just all talk, at some point it has to be some walk as well.

There's a great deal of learning that takes place

when you actually execute your strategies.

As we saw with me, there might be these unintended cross-pollination.

Where your new endeavor helps you in your existing ones.

So, summing up, we're exposed to a lot of change.

And how we cope with that change is through what I have called

transing in this segment.

And you can apply transing through VSA.

Whether it's a brand like Starbucks or it's you.

And the key to transing is to have this open mind where you not only

keep on doing what's brought you success, but you also have to

adopt sort of newer, riskier, kind of strategies to address the,

again, the changes occurring in your environment.

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