22:14 13/3/25 Truong Thi Kim Thanh 104170826 MKT2003 1 Assignment 1B
MKT20031 - Marketing and Innovation
Assignment 1B
Critique
Prepared For
Truong Thi Kim Thanh Submission Date: 03/11/2024
Student ID Word Count: 1940
104170826
Prepared By
Mrs. Kaci Nguyen
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Table of contents
02 Introduction
03 Presentation 1
06 Presentation 2
09 Presentation 3
12 Presentation 4
15 Conclusion
16 References
01
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Introduction
The objectives of this study are to critically evaluate four peer
presentations on innovation topics that each provide a unique perspective
on strategic business concepts. There is a diversity of topics covered in the
selected presentations, including Spotify's Marketing Mix, COVER Corp's
Blue Ocean Strategy, Trung Nguyen Legend's Business Model Canvas, and
Netflix's Disruptive Innovation Theory. The analysis will assess the
strengths and weaknesses of the arguments and provide
recommendations to improve the content presented, based on its depth,
relevance, and originality.
02
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Presentation 1
HUYEN LINH ON MARKETING MIX OF SPOTIFY
Huyen Linh’s presentation on the marketing mix (7Ps) of Spotify provides
an overview of the services, highlighting key products, prices, locations,
promotions, people, processes, and physical evidence. Generally, the
content effectively integrates fully defined theoretical concepts into
Spotify, especially in the real-world business of a leading music streaming
platform. This presentation demonstrates the depth and relevance of the
topic by logically analyses each 7Ps component and explaining it with
examples from the company's products.
Figure 1: Huyen Linh's presentation, which demonstrates
marketing mix of Spotify
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Presentation 1
HUYEN LINH ON MARKETING MIX OF SPOTIFY
Huyen Linh's presentation has several noteworthy strengths. The analysis
of an overview of the brand's history and the music streaming industry
provides a solid foundation for understanding the context and its marketing
strategies (Patrik Wikström, 2020). Detailed evidence of Spotify's product
elements, such as its extensive library of music, personalized playlists, and
user-friendly interface show how it stands out from huge major competitors
in the streaming music industry. Besides that, discussing pricing strategies
is also insightful, as it illustrates Spotify's balance between premium
pricing and competitive positioning (Krämer & Kalka, 2016; Colbjørnsen et
al., 2021). Using a personalization strategy like Discover Weekly and Daily
Mix illustrates Spotify's commitment to enhancing user satisfaction and
loyalty through features. Additionally, the emphasis on innovative features
such as the Uber-Spotify integration for personalized ride experiences,
illustrates the value of cross-industry collaboration in digital services.
Figure 2: Huyen Linh's
presentation, which analyse
overview of the company
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Presentation 1
HUYEN LINH ON MARKETING MIX OF SPOTIFY
Despite the presentation's depth and relevance, some areas could be
improved. For the analysis of the product's three levels, it could have been
better integrated between facilitating services and People and Physical
Evidence. This means user-friendly interfaces and customer service should
be linked directly to the "Physical Evidence and People" aspects of the 7Ps
to enhance the coherence of the analysis. It can't be denied that the
presentation showed the challenges of Spotify in the music streaming
market with several significant competitors, including Apple Music and
Amazon with its unique features. However, it lacks an in-depth analysis of
how Spotify will address these competitive threats posed by seamless
integrations within their competitor's respective ecosystems. A deeper
exploration of these challenges would have given Spotify a clearer
understanding of what makes competitors' ecosystem advantages so
dangerous.
To enhance the presentation effectively it should include a segment that
discusses specific strategies Spotify can use to ensure its market
competitiveness against tough rivals. Furthermore, the presentation should
contain more quantitative data on campaigns' outcomes and metrics of
user engagement. Spotify's competitive advantages could be better
understood if the 7Ps were systematically compared to those of its
competitors. Lastly, expanding the physical evidence section to explore
promotional merchandise or events that create a physical connection
between Spotify and its fans could enhance the discussion. Spotify's
marketing strategy and its implications for future growth could be better
understood by addressing these aspects in the presentation.
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Presentation 2
NHAT MINH ON BLUE OCEAN STRATEGY OF COVER Corp
Nhat Minh's presentation provides a clear and well-structured overview of
the Blue Ocean strategy and demonstrates the insightful examination of
COVER Corp. Throughout the presentation, the Blue Ocean Strategy is
clearly defined, emphasizing the creation of new market spaces to avoid
direct competition with traditional "red ocean" markets (Kim & Mauborgne,
2017). It is essential to understand this foundation to analyze COVER Corp's
strategic shift (Kim & Mauborgne, 2005). The choice of COVER Corp as a
case study is highly relevant to illustrate how the strategy of the traditional
idol market is shifting towards virtual idols (Kobayashi & Taguchi, 2018; Yu
et al., 2023). The presentation's structure includes logic through the Four
Actions Framework (Eliminate, Reduce, Raise, Create) to understand how
COVER Corp navigated its market transition.
Figure 3: Nhat Minh's
presentation, which
introduce the theory and
business
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Presentation 2
NHAT MINH ON BLUE OCEAN STRATEGY OF COVER Corp
The key strength of this presentation lies in its application of the Blue
Ocean Strategy’s Four Actions Framework to COVER Corp's business
evolution. COVER Corp developed an entirely new market through this
presentation by eliminating real human identities, creating online personas,
and leveraging technology to increase fan engagement (Audrezet & Koles,
2023). The data-driven evidence on COVER's subscriber growth, reaching
88.4 million subscribers and increased revenue is particularly persuasive of
this strategy. Furthermore, contemporary technologies like Motion Capture
and Chromakey Studios are effectively explained to demonstrate how
these tools enhance user engagement and appeal to consumers on a more
personal level.
Figure 4: Nhat Minh's
presentation of strength
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Presentation 2
NHAT MINH ON BLUE OCEAN STRATEGY OF COVER Corp
Despite its strengths, the presentation has notable weaknesses in meeting
the specified requirements fully. Firstly, while growth statistics are
impressive, there is a lack of depth in its analysis of potential challenges
and risks from emerging companies in the VTuber space like Nijisanji and
VShojo. For instance, Minh doesn't mention addressing how emerging
competitors might impact its future growth or market share. Additionally,
the dependence on technology is a strength of innovation but causes risks
that were adequately addressed such as data privacy or technological
failures affecting user experience. Finally, audience members unfamiliar
with virtual technology may find some technical jargon alienating.
To improve his work, Minh can consider offering a positioning map that
states COVER Corp's differentiation characteristics to stand out from
emerging competitors. In addition, as I mentioned above, he may clarify the
difficulties and dangers is shifting from the traditional idol market toward
virtual idols. In an era of globalization, consumer perspectives change,
which can sometimes result in virtual idols not being acknowledged for
their works (Kusuma et al., 2020; Liu, 2023). Lastly, to ensure accessibility
for all audience members, technical language should be simplified or brief
explanations for complex terms should be provided.
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Presentation 3
KHANH LINH ON BUSINESS MODEL CANVAS OF TRUNG
NGUYEN LEGEND
Khanh Linh's presentation visualized the application of Business Model
Canvas on Trung Nguyen Legend and the overview of how the company has
grown from a small brand into a prominent player in the global coffee
market. The presentation successfully demonstrates value propositions
such as its commitment to quality and the cultural significance of products,
particularly the World Coffee Museum or Zen coffee philosophy to enhance
consumer experience and brand heritage.
Figure 5: Khanh Linh’s
presentation about
Trung Nguyen’s BMC
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Presentation 3
KHANH LINH ON BUSINESS MODEL CANVAS OF TRUNG
NGUYEN LEGEND
One of the key strengths of Trung Nguyen Legend is the value propositions
that are clearly explained in detail in this presentation. A value proposition
defines a company's unique benefits to its customers and serves as a guide
for internal and external communications (Hassan, 2012; Payne et al., 2017).
Through the definition, Linh highlighted how the brand creates value
through product quality, cultural authenticity, and unique consumer
experiences like the World Coffee Museum. World Coffee Museum serves
as evidence of Trung Nguyên's dedication to preserving the cultural
significance of coffee, which adds depth to the brand's narrative (The
World Coffee Museum, 2024). This approach underscored Trung Nguyên’s
commitment to offering tangible value and cultural and spiritual value,
helping the audience understand how the brand differentiates itself.
Additionally, various distribution channels were outlined in the presentation
to reach specific target markets (Frazier, 1999; Geyskens et al., 2002). As a
result of its multifaceted approach, Trung Nguyen utilizes social media, e-
commerce, and physical stores to reach out to a large audience (Vietnam
Investment Review, 2021).
Figure 6: The detailed value proposition and example of theory
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Presentation 3
KHANH LINH ON BUSINESS MODEL CANVAS OF TRUNG
NGUYEN LEGEND
Despite its strengths, the presentation has certain weaknesses that could
be addressed. While it effectively communicates the value propositions and
channels, it lacks seven business model canvas elements such as key
partners, key activities, key resources, customer relationships, customer
segments, cost structure, and revenue streams (Murray & Scuotto, 2015).
Therefore, it may cause a full misunderstanding of the business model
canvas on Trung Nguyen Legend. Additionally, the presentation briefly
mentions plans for expansion into international markets. However, it
neglects the potential challenges such as competition and market
saturation in these regions to differentiate itself from established global
competitors. Lastly, it could benefit from a deeper analysis of the value
proposition model canvas to enhance the depth of presentation and reach
different customer segments.
In general, the presentation on Trung Nguyên Legend's Business Model
Canvas effectively showcases its strengths and innovative approach to
coffee culture. However, to improve the presentation, there are some
recommendations to give a rounded view of the Business Model canvas on
Trung Nguyen Legends. Firstly, Linh should analyze the remaining details
of the business model canvas elements to demonstrate a more balanced
view of Trung Nguyên's business model. In addition, the presentation may
incorporate a section that addresses potential challenges and risks
associated with Trung Nguyên's growth strategy, particularly in
international markets. This could include an analysis of competitive threats
from established global coffee brands and the strategies Trung Nguyên
might employ to differentiate itself.
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Presentation 4
PHUONG ON DISRUPTIVE INNOVATION THEORY OF
NETFLIX
Phuong's presentation on Netflix illustrates how the company was able to
utilize disruptive innovation principles to Netflix versus Blockbuster,
illustrating how Netflix disrupted the established movie rental industry
(Christensen et al., 2018). A disruptive innovation is defined as a low-end
disruption, in which companies provide more accessible services to less
profitable customers (Christensen et al., 2016), and new market disruption,
in which companies offer unique services to attract new customers
(Sandberg, 2002; Ganguly et al., 2017). The story analysis of Netflix and
Blockbuster highlights how Netflix's innovative business model grew and
became a big success.
Figure 7: The disruptive
innovation theory
definition
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Presentation 4
PHUONG ON DISRUPTIVE INNOVATION THEORY OF
NETFLIX
The presentation’s strengths lay in its clear clarity in explaining the core
concepts of disruptive innovation theory. The use of Netflix as a case study
makes sense given its revolutionary impact on the entertainment industry.
The historical context provided about both Netflix and Blockbuster
illustrates how Netflix capitalized on consumer frustrations with
Blockbuster's business model, particularly high late fees and limited
convenience (Guadiana, 2020; Kolakaluri, 2022). The presentation
effectively highlights Netflix's continuous innovation, such as the shift from
DVD rental to streaming and investment in original content, which stand
out from competitors. In addition, by explaining concepts like low-end and
new-market disruption as well as sustaining innovation, Netflix could
distinguish itself from its competitors by catering to existing and new
audiences.
Figure 8: The key strength of Phuong’s presentation
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Presentation 4
PHUONG ON DISRUPTIVE INNOVATION THEORY OF
NETFLIX
However, there are areas for improvement in enhancing the depth and
comprehensive analysis. While the presentation effectively highlighted
Netflix's success, it could benefit from a more detailed exploration of the
challenges Netflix faced during its transition from DVD rental to streaming.
Disruptive innovation theory could have been shown to have limitations in
mature markets by this. Additionally, the presentation's reliability needs
refinement. It ensures that concepts and content have credible sources and
references to enhance the overall reliability of the presentation. In addition,
adding more visual aids, such as graphs and charts, would enhance the
presentation's effectiveness. An example of Netflix's rapid expansion could
be illustrated by a graph showing its subscriber base growing exponentially
since streaming services were introduced.
In summary, Phuong's presentation on Netflix's disruptive innovation
compellingly illustrates the company's transformation and marketing
strategies (Pratama & Narimawati, 2023); Nevertheless, to enhance the
presentation, Linh may incorporate the industry implications of Netflix's
disruptive innovation. Traditional rental businesses and cinemas could be
analyzed to determine how they have adapted or struggled to cope with
streaming services. These recommendations would provide actionable
insights into Netflix’s strategy in a highly competitive market while
reinforcing the theory’s relevance.
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