Week 4

This week provided good insight into some of the start ups which were able to secure funding for their ventures in a market which is stabilize. The ideas which the entrepreneurs brought on the table were new and had a new way to consume the products which have been followed by various companies in the past.

While Dollar shave provided a good idea on how a neat idea can win confidence of venture capitalist it also points out the significance of digital presence in today's world for attracting new customers. A video can go viral and connect with each customer the way marketing honcho would aim for.

Warby parker articles were really interesting in the way it proposes that Showrooming could be next big thing for retailing. We have seen that some of the big e-tailers have realized the fact and have now chosen to go the brick and mortar route. What is interesting to note here is that these stores although designed to sell do not have kind of penetration to drive the volume. For example Microsoft stores are not that common.

This makes me believe that showrooming is indeed showrooming. The idea is to choose brick and mortar store as a channel for marketing. Connect with the customers and also show that the brand belongs to an elite club of the brand which is otherwise perceived as cheap due to the price differentiation which brands do online differentiator. One aspect which I do not see brands promote a lot these days is after sale service which a showroom can offer right then and there (like Apple). This is particularly important for the new age customers who are very impatient.

Another interesting aspect aspect of Warby Parker article is the fact that social media and online presence has been used to promote the B&M stores.

I must admit that the most impressive concept in this week was introduced by Hointer. Demonstrates how technology is bridging gap between online and offline shopping. This also provides food for thought for operators of brick and mortar shops to innovate customer experience to continue to connect their brands with customers and provide them an experience which is far more engaging than online. This video can act as catalyst for thinking on experience in stores across the board and might lead to more connection between online and offline shopping.