GLOBAL STRATEGIC MARKETING ANALYSIS REPORT Case Study Solution
Introduction of I am Change/Palsio Company
I am Change is a new tech company with a geocentric orientation that uses a mobile loyalty rewards platform together with social media to engage users in order to gamify social responsibility. This is a win-win product for retailers and consumers, as well as for the society. The program allows the consumer to collect a digital currency, “Be Change”, as a loyalty programs.
At the point of sale, the consumer uses their mobile device to scan the proof of purchase and by doing so, the digital currency1. From there, I the app prompts the consumer first to choose a cause (e.g., Climate Action), then to select a specific Non-Governmental Organization (NGO) within that cause (e.g., Earth Day) to whom they will donate their received reward coins.
This concept has no global barriers to entry other than China, as it works like a joint venture with the local NGO, retailer, and consumer. By leveraging the social media power of its celebrity and retail partners, I am Change is able to capitalize on what will be a high user adoption rate, thus enabling ongoing connection of users and retailers to social causes. The social causes promoted by the I am Change platform are based on the 17 Sustainable Development Goals (SDG) outlined by the United Nations (UN). See Exhibit 1.
Vision of Mission I am Change Company
The mission of I am Change is to improve Corporate Social Responsibility (CSR) for corporations, to assist retailers with critical data to help them understand their consumers, to empower every individual to become a social entrepreneur. This will ultimately serve international social causes, selected from the UN list of 17 SDGs, by boosting donations, awareness, and support for these causes. Online fundraising and retailer loyalty have been selected by the company to support charitable institutions, welfare institutions and NGOs.
Furthermore, the program assists retailers in meeting their CSR objectives by collecting and recording valuable data analytics, never before captured2. Essentially, this company will become the largest database, on a global scale, of pro-social consumers. The embedded mobile technology has worked well for the company so far; however, new technology and software are needed for reaching the envisioned global scope of users and speeding up the transaction. Technology and software are needed for reaching the envisioned global scope of users and speeding up the transaction.
Introduction of New Product
I am Change plans to introduce a mobile application that will be attractive to a global user audience while achieving the objective of serving the major social causes around the world. A new hub will be created by I am Change for social change that will connect contributors, charitable institutions, NGOs and champions (e.g. celebrities, influencers, brands) through a single global platform, to better serve global social causes.
A new web platform will be launched by the company, to serve as a home site for authenticated users, measurable campaigns, business partners, and charitable institutions. With outreach, interactions and transactions all flowing through a central platform, I am Change will have access to considerable data; this data will be leveraged to measure, analyze, report on and improve the experience of each stakeholder (i.e., retailers and NGOs). New users will be acquired through viral growth and social media platforms such as YouTube, Facebook, Twitter and Instagram, etc. Viral marketing has a huge power within the social space3.
The program’s user base will grow rapidly by social marketing campaigns, celebrity influencers and the established social networks. With over 85,000 registered charities in Canada and over 1.5 million in the US, not to mention many millions more worldwide, there are endless opportunities to create content, fundraising campaigns and user engagement. The I am Change management team combines the education, experience and talents of energetic executives with extensive backgrounds in Entrepreneurship, Mobile Applications, Web Technologies, Data Analysis, Digital Media Design, Finance, Marketing and Sales4.
Value Proposition of the New Web Platform
The value of the new web platform and the new hub that will be launched by I am Change will serve the purpose of effective marketing while creating good business partnerships. Cause-related marketing will be highly beneficial for the company, for the charities, and for the good causes, by creating the mutually beneficial partnerships between the charities, services, products, brands, businesses and the good causes (Lenskold, 2003).
The retailers have been early adopters of cause-related marketing, and therefore were chosen by I am Change as the medium to support the social causes, including health issues, environmental causes, local communities, sports, and education, based on the UN list of 17 SDGs (Adkins, 2015). Supporting social causes and connecting a global audience on a unified platform are the core value propositions of the company.
GLOBAL STRATEGIC MARKETING ANALYSIS REPORT Harvard Case Solution & Analysis
Target Market of New Product
A target market is defined by Mooij (2003) as a set of prospective buyers that share common needs and characteristics. I am Change will be targeting Generation X (GenX) through Millennials. While most charities have always focused on the Boomer generation as a pool for attracting new donors5, I am Change is following the numbers. Despite a traditional charitable model that has not served the millennial donor market effectively, the United States saw Millennial donations top $39 Billion in 2015 ($481 average donation across 83.1M Millennials). The total financial contribution and impact of this group can be reasonably assumed to grow significantly in the future, according to Kotler (2006)......................
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