Gamification and Data Analysis with Harvard Business Publishing

The business world is revolving around the idea of big data.

The most successful companies strive to collect everyone’s data in order to make optimal decisions and predict the outcome of future profits.

Trinity Business Schools choose to use gamification, the application of game-design elements and game principles in non-game contexts.

More information about gamification and how it can impact real case scenarios in this video:

Trinity Business School chose to use a Harvard Business Publishing case presented as a game: a Detergent Company trying to get the best possible profit in a period of 5 years.

The Case

In the game, we were put in the shoes of Blue’s Marketing directors, a fictional US detergent company with a slowly declining market share and a traditional Marketing and Manufacturing process.

The company had recently decided to use forecast and reports to improve its profits against the main player of the Market, Turbo, Flash and Retailer’s Stores.

A brief with the history of the industry was given to flesh out the business case.

We were given 10 minutes to figure out the data from the company and how to maximize the profit a lot of information was given at the same time, a market report, an income statement A sentiment analysis with changing live feedback. After an error in inputting information in the first year, Pushkar and I managed to surpass Flash and Retailers in term of profitability in the following years of the game.

 

(our decisions history)

 

( Despite the loss  in the first year, in the end, we were able to have more profitability than Fresh and Retailer stores)

What we have learnt:

1) To follow the trends in the demand and stick to the facts more than trust information at face value. For example, we shifted our features optimization to odor control and pods from the classic more accepted powder pack and gave more attention to data analytics than the initial company brief.

2) The importance of listening more to the customer base and follow its dynamics. A marketer needs to enhance his active listening skill to create more insights.  In terms of qualitative data, social media feedback from the customer is useful when analyzing the most positive and negative reviews. Checking them is a good indicator of what can be fixed and what can be improved. On the quantitative data side, it is important to spot new opportunities to sell. Monitoring the market every year allows to reduce the risks associated with demand shifts and adapt the quantity of product sold. Quantitative data can also support qualitative data when it comes to developing a full-fledged sentiment analysis and to

3) Being aware of our client’s characteristics. We segmented our market to see the demographics of our current clientele.  This is necessary to understand future opportunities for the people we do not serve yet and to plan expansions on the current market target.

4) The importance of using forecasting tools to plan the demand. With the availability of more source of data and information, it is pivotal to use methods to estimate the quantities needed in the future. Having an indication of a probable future can improve a company decision making.

5) Importance of testing possibilities/products on the market. In our exercise, we had plenty of data to decide. This made us reflect that in case of lack of data it is really important to test product launches using pilot programs to see the actual client purchasing behavior against the declared one.

6) Importance of Speed in decision implementation. In big companies adopt solution fast is imperative to maintain or grow in market share and competitiveness. In the case study, the conditions changed each year and all we needed to adapt was to push a button on a dashboard. In real business decisions are impeded by internal politics, disorganization.Data can fasten the whole process.

In conclusion, companies should strive to gain near-perfect information, to increase their profits and having a competitive edge against adversaries.

 

5 books to read before joining a Marketing Course

Blog and author websites

David Meerman Scott Blog : https://www.webinknow.com/

Ann Headley website : https://www.marketingprofs.com/

Winston Wayne Website https://excelwithwayne.com/

Tanner Larson https://buildgrowscale.com/

Books on amazon New Rules of Marketing and PR https://amzn.to/2DQVpbl

Everybody Writes https://amzn.to/2pCjptO

Marketing Management https://amzn.to/2DRrv6R

Marketing Analytics: Data-Driven Techniques with Microsoft Excel https://amzn.to/2G0gQfW

Ecommerce Evolved https://amzn.to/2G2tRG9

 

Gamification to learn Data analysis with Harvard Business Publishing

The business world is revolving around the idea of big data.

The most successful companies strive to collect everyone’s data in order to make optimal decisions and predict the outcome of future profits.

Trinity Business Schools choose to use gamification, the application of game-design elements and game principles in non-game contexts.

More information about gamification and how it can impact real case scenarios in this video:

Trinity Business School chose to use a Harvard Business Publishing case presented as a game: a Detergent Company trying to get the best possible profit in a period of 5 years.

The Case

In the game, we were put in the shoes of Blue’s Marketing directors, a fictional US detergent company with a slowly declining market share and a traditional Marketing and Manufacturing process. 

The company had recently decided to use forecast and reports to improve its profits against the main player of the Market, Turbo, Flash and Retailer’s Stores.

A brief with the history of the industry was given to flesh out the business case

First Run of the game First Failure

We were given 10 minutes to figure out the data from the company  and how to maximize the profit a lot of information was given at the same time:

 a Market report,

Market situation Blue

 an income statement

A sentiment analysis  with changing live feedback,

An explorable database,

explorable database

A decision dashboard,

We started with a market share of 11 %, our initial thought process was to differentiate ourselves and serve the market range where we were strong.

So we checked every market area and jotted down on paper

Region – Top player for the region – Household composition – Income-Age

We found out that in most of the markets we were popular with an age range from Under 35 to 44 years old, families with 3-4 components and income from under 20.000 $ to 40.000 $.

So we decided to market softness as an attribute since no one in the market was doing the same move, use liquid detergent as we thought that an innovation would be understood by the younger costumer base.

We used the innovation in the product to justify an increase in price by  1 dollar since competitors already could ask a higher price with newer formulations.We also wanted to differentiate from the cheaper powder private labels.

The real mistake that we did was using the forecast tool.

We thought that the number shown in the cell was the increase from base production. So we inputted 3 mln thinking that it was adding up that quantity to the current sales. We passed from producing 32 mln of units in 2018 to 3 mln total in 2019 !!!

The following turns to do decision lasted 10 minutes each. With so little time we were unable to detect the error we made until the last round of the game where we understood that the forecasting tool was also used to set up production.

Our other choices were influenced by the big loss in revenue on the first turn.

In 2020 we switched back our formula to powder seeing that the customer could not understand how to use the liquid formulation in the sentiment analysis and to reduce costs. In the sentiment analysis, we spotted that most of our customer did not like our old advertising so we optimized the media spending by reducing spending in Radio and Print to increase the one in Digital Advertising.

We also noticed that our product was selling more in Convenience and Club trade channels, therefore, we invested more there in 2020 and 2021.

In 2021 we saw that there was more demand than supply for pods and odor elimination features. We changed the attributes to sell more on the market and finally saw a rise in profit. 

Finally, for 2022 we understood that we were producing fewer units than we were meant to. We upped the production and went back to a market share of 11%, the same condition as the start year.

                                             (our decisions history)

 

( Despite the loss  in the first year at the end we were able to have more profitability than Fresh and Retailer stores)

What we should have done instead

Other than the mistake in the production, we should have noticed sooner the trends in the Demand. We should have shifted to odor control and pods, give more attention to data analytics and weigh less the initial company brief.

What we have learned

We need to listen more to the market and follow its dynamics. Both Social Media and quantitative data on the market are fundamental to listen to the customer.

Social feedback from the customer is useful when analyzing the most positive and negative reviews and ratings. Checking them is a good indicator of what can be fixed and what can be improved.

Quantitative data is important to spot new opportunities to sell and monitoring the market every year allow to reduce risks associated with demand shifts and adapt the quantity of product sold.

In business, companies should strive to gain near-perfect information, to increase their profits and having a competitive edge against adversaries.

 

How to open a WordPress site, Trinity Business School Teaches the basics.

Have you ever wondered how to open your own website?

Worry not, here there is a guide.

In January Trinity Business School has invited an expert in Cloud Computing and Commerce, Doctor Grace Fox. She taught the students how to open and design a WordPress site or blog. No costs involved.

Start by respecting your audience.

A blog or a website is a form of communication. We communicate effectively by being clear and concise. If you open your blog and the font are not big enough no one is going to read your post! This is especially true for older people but also for you.

Which line do you like to read the most

1.)  I am a microscopic line of content, I guess you will lose diopters in trying to read me.

2.) I am a well-written line and I can be read!

Exactly! the second one is the most compelling and readable. But what about little differences in fonts readability?

There are many ways to check how your website is readable. One of the options is to use a readability checker site such as https://www.webpagefx.com/tools/read-able/ in which you copy paste your website link or to download a plugin once you have already set up your WordPress account.

Another optimization that you can add to your blog article is to put an average time reading indicator on the top of the page. The addition of this feature is debatable because a potential reader could put off a relevant and useful article just because of a time constraint. On the other hand, it could help the audience to come back because you are not wasting their time.

Choose the site hosting and Content management system.

If you want to create a website you need to host it on a server and choose which platform you prefer to operate publish your content.

One of the most popular site hoster is SiteGround. It is good because of 2 main features: It has 24/7 technical support and your site will have a high speed that is necessary to reach your audience and avoid the abandonment of the page even before they can read your content!

As a plus SiteGround has 1-year free membership for students that is available with most of the universities.

                                   https://www.siteground.com/students

Through the admin panel you can choose which kind of content management site you want to install in your domain.

In the content management system market, WordPress is the most used.  The popularity is given by the flexibility of the platform (you can use it for a blog, a commercial site or an e-commerce site), Greater number of  free plugins provided (Plugins are programs that add functionalities to your site) and ease of use ( you do not need any HTML and CSS knowledge to start.) 

WordPress.org vs WordPress.com

Wordpress.org and .com have completely different philosophies.

The main questions are if you want to rent or own your website.

.org is dedicated to people that want to own their website. It is free and opensource, you can monetize your content and install any plugin you want but you have to build it from the ground up and you are responsible for backing up your website and update it. It is recommended if you are serious about your blogging or you want to host a commercial site.

.com is more of a blogging platform. It is free up to 3 Gigabytes of space, it has more hand-holding to modify your website, you can not choose the ads that are displayed in your website, there are limited plugins (you have to pay to unlock more), it has more services such as back up, client support. It is recommended if you do not care about money and want to test if a website is the right tool for you.

Plan your content strategy.

You need to plan the content strategy for your website.

The website name is important for being discoverable on Google in its organic search. It should be something meaningful and in line with the scope of the site and the content that you want to share (You can check name availability for your website here https://www.namechk.com/).

Define an audience and buyers personas. It is needed to understand for which person you are building your website on. You need to imagine and write down the characteristics of the ideal person you want to attract, what problem you solve for them and how they interact with your website. You can build multiple profiles if you have different types of buyers that attend to your website.

Plan the design of the website to please your audience. All your effort should be spent on a design that pleases and it is easy to understand for your public.

Lastly set deadlines and metrics to measure your efforts. You need to set clear goals ahead to reach your objectives and have fun with your website!