[BLANK AUDIO] Learners I have good news. We are now at the very end of the capstone project. This will be the last section. You are almost finished, so hang in there. Okay, since we reformulated vision and strategy. Of course, now we have to finish that up by reformulating the specific marketing action. So, CI here, refers to cross industry, so we will do CI analysis for all four Ps, starting with of course, the product. And we do that by importing from other industries. So, let say that our industry is A1 and we can outsource, we can import solutions for our problems, redefined problems. From, for example, Industry B. And here to we have to think broadly about what a product is. There are many layers of a product, many dimensions of a product. Some which are tangible, which I refer to here as core. But others that are intangible, which I refer to here as being augmented. So again in some cases you have to be more core related, but in other cases they're more augmented related. So what YK did or should do. And I remind you that with YK, they are outsourcing from two industries. I suggested Healthcare and B2B. And because healthcare is much more service oriented, we can benchmark what healthcare industries have done. What innovative practices they have adopted, especially as a point of difference, and adopt them for our new healthcare related products or services. As for B2B, here I think it could be much more core related or tangible product related. But the caveat here is that we have to adopt this behind center mentality and therefore, the key decision maker matters. And we can ascertain that by using my recommended 4W's approach. Okay, next is Promotion. And as for promotion there are many many possibilities for using media together. Whether it is in a cross promotion way, whether it is in a cross media way or whether it's in a trans media way. So even though the industries or the products may be very different, again, there are these linkages possibility. So my scoring tip to you here is to try to find that commonality, to find that synergy, and then to integrate these possibilities across industries. So again, importing from B1 to our industry which is here denoted as A1. Okay, so let's have a look at what YK can possibly do. Again, I denote YK here as A1. And, they can outsource promotion practices from both Healthcare and B2B. And here, I have in fact, I recommend that they do it together. They can maybe target influential doctors, use them as spokesmen in ads for their new products and services. And it may create this pull for YK's new products. Through this two step communication paradigm that I have explained, especially for example in my entertainment marketing course. And by having done that, this can facilitate the push for our salesman. Such as fo our new B2B product markets. So again, we can kill two or even three birds with one stone by integrating our promotion action. Next is Cross Industry Price. The price is about increasing perceived benefits and decreasing costs. You can outsource from other industries how they do both. So my emphasis here too you is that it is not just about cost cutting but rather the key scoring tip is have this profit orientation. You have much more wiggle room. You can learn from a cross industry standpoint how they increase the top line and not just how they decrease the bottom line. So again we're outsourcing from another industry And let's look at what YK can possibly do when they go into Healthcare and B2B. And if you look at Professor Choi's course on services, there you will learn about variable pricing. So, I think variable pricing is a very useful tool for you to learn about how you can not only increase benefits specially by customizing to costumers that have lower price sensitivity. Well you can also to do the same by decreasing cost in a targeted way. Which she calls a targeted discounting. So I think you can use this concept very well. And the heterogeneity of service providing is in contrast to the more standardized pricing that YK heretofore has used with their pre-manufactured products. As for B2B, there I talk about B2B2C, meaning that depending on the end market, that the pricing can vary both in terms of the value added, as well as in terms of the cost on a per application basis. Okay, lastly we can talk about a cross industry place or distribution. And I remind you that I have emphasized that distribution is about add-ons. And we can outsource from other industries the kind of add-ons or the add-on best practices that they use to better serve their customers. So, for us with our redefined problem, we have to redefine what the new add-ons should be. So my scoring tip to you is to think openly about the kinds of add-ons that we need. The new add-ons that we need to help solve our, or your redefined problem. So in the case of Yuhan-Kimberly again, outsourcing from Healthcare and B2B. Maybe the priority needs to change. Given that it is a service, that there is this possibility for customization, whereas before, customization was a non-issue. Now, it may be the foremost issue. And likewise, it could be variety, even though variety is listed towards the end. In the case of B2B, B2B is not only about helping customers buy. But it's also helping sellers sell. So, given that we are targeting institutions, we're targeting, maybe hospitals. Maybe we need to retrain our sales people, and that is where, in terms of selling support, service consistency and service localization if we are to venture into new countries with our new products. That is where we have to solicit help from new middlemen that can help us do all three. So I hope you found these milestone explanations through the use of this exemplar case very helpful to you. There's a lot of work to be done, but I hope that you have fun doing it.
