Week 4 learnings

Key learnings in week 4 were the impact of being unique and the ways which technology is changing traditional brick-and-mortar models (and vice versa).  Also this week, I read the "Patterns" chapters of the "Business Model Generation" book and "Business Models of News Web Sites" article.  Looking forward to building my first Canvas model at the end of this week.

1) Unique gets noticed

Warby Parker -- What's getting them noticed is that they're remarkable, a critical point made by Seth Godin in his TED talk titled "How to get your ideas to spread"; their eyeglass store (both online and new brick-and-mortar locations) have a different format than most: the online experience includes in-home try ons in a fancy package and free returns for purchases, and the retail experience includes a sleek store layout with easily accessible product and a quirky eye exam queue formatted like a train station sign; the innovation along with the cheap retail price is garnering attention from celebrities and investors

Dollar Shave Club -- This cheeky, vulgar YouTube video has generated more than 10.2 MILLION views... it features swear words, off-color jokes, a random mascot, and a very handsome spokesman; the key to the business success is that Mr. Dubin has listened to the customers needs (low price, easy access, desire for fresh blades) and cleverly plays into the needs through the video in a new/never-before-seen manner; Mr. Dubin's wit and innovative business model attracted a $9.8 million dollar investment from Venrock in Oct. and the company is expected to compete with industry leaders over time... a perfect example of marketing in the digital era!

2) Lines becoming blurry between online models and traditional brick-and-mortar 

Hointer -- Start-up company using new technology (QR codes scanned by personal smart phones) to change the traditional shopping experience; best of both worlds -- mobile shopping experience with the opportunity for physical product interaction and try-ons; executives listening to customer needs and retail qualms and solving the issues through technology: clean store environment (no digging through piles) due to inventory housed behind the scenes, low labor costs as result of machinery picking orders, short waiting lines, quick product delivery to dressing room (just 30 seconds!!)