Economy of Social - Social Media Tips, Marketing and Business

A lot has been written about Vijay Mallya and his airlines (Kingfisher) in the last few days on flight cancellations and the mounting debt. It has occupied news-space, public and private discussions and our mind-space. Out of many such discussions, an interesting idea came out yesterday night. Why didn't Vijay Mallya invest in the hospitality industry? It fits with his outlandish larger than life persona. Kingfisher hotels would've made more sense and fit in better with his identity. Maybe it is a hindsight bias but it is definitely worth looking into. An interesting ET article  presents a detailed insight on the congruence of the personality at the helm of a brand and a business. Although I feel the article is biased to an extreme (while talking about Vijay Mallya) and does not present a neutral argument, the opinion is still noteworthy (like this statement): " how can a beer baron assure you the safety of an airline? " But a beer baron can definitely give you goo...

Failure is a part of life. To put it simply "Shit happens". Vodafail is an outcome of this failure by a mobile network operator. Vodafail became a hit after its music clip , featuring comedian Sheona Urquhart, was launched just months after a disgruntled Vodafone customer Adam Brimo created Vodafail.com. Vodafail is a complaints website and Twitter feed that enabled tens of thousands of users to vent out their frustrations about Vodafone's poor service. The enterprising nature of this customer activism is the result of two factors. A high failure rate and a high dependence on the service. The dependence on Mobile networks for internet and calling makes them pseudo-arteries of modern world. Any disruption virtually halts the activities of any user. For businesses, this means revenue loss. Failure is a part of any system, although we try to reduce errors by Six Sigma practices and achieve other operational efficiencies. But when such practices are not followed, the fa...