IE Event || Marketing the Subconscious

“The Art of Seduction ― Marketing the Subconscious” will explore the history and theory of appealing emotionally to potential clients and customers, and discuss ways to do so.  The seminar, hosted by Seoul Global Center, will feature a guest talk from Prof. William Davila, Associate Professor of marketing at Madrid’s IE Business School, which specializes in entrepreneurship,…

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IE Focus || Causes

By Enrique Dans, Professor at IE Business School, published on IE Focus

Social networks have the capacity to mobilize millions of people in defense of a cause, regardless of their location. The far-reaching impact of this is now starting to show.The expansion of social networks has had one extremely interesting effect: the proliferation of causes or claims capable of garnering the support of a large number of people, sometimes very quickly. When this occurs, the person promoting the cause in question cites the number of people involved as evidence of support, whereas sceptics and detractors try to downplay it by talking about of the scant value of support provided by merely using an index finger to click on a mouse. 

Who should we believe? Can we consider this type of group as tangible evidence of support, the virtual equivalent of a street demonstration with banners and slogans, or does the practically zero effort required to support the cause mean it is worth very little? The social importance of this issue is growing as the number of social network users increases: Spain has the highest number of social networks users in the world (according to the latest figures, we are talking about around ten million active users on Facebook and around eight million on Tuenti). As a result, many are starting to see social networks as a kind of “trend laboratory” or a gauge for measuring the “social mood”, a kind of permanent, real-time survey on the widest possible variety of subjects.

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The Success in Failure

This February, IE Business School brought together some of Spain and Israel’s most prominent entrepreneurs and investors for a conference about an essential element of the entrepreneurial endeavor: Failure.“The Advantages of Failure,” the first conference of its kind hosted by a business school, asked participants to speak about their greatest failures as entrepreneurs, how they learned from and eventually overcame them. Present in all entrepreneurial markets, the fear of failure is one of the biggest obstacles to fomenting a successful European entrepreneurial ecosystem. In Spain, for example, more than 50% of those interviewed by the Global Entrepreneurship Monitor (GEM), the largest single study of entrepreneurial activity in the world, note that the fear of failure is a key impediment to becoming an entrepreneur. 

The start of the conference delved into the lessons learned from experience: 

•Jose María Castillejo, Chairman of the Board of Directors of Zinkia Entertainment SA, whose principal product is the animated figure Pocoyo, recounted his experience with a Ukrainian train heist. The son of a local Ukranian politician “hid” a train full of sunflower seeds in order to squeeze Castillejo out of a profitable business exporting sunflower seed oil.

•Jesús Encinar, founder and CEO of Spain’s top real estate website Idealista.com explained how the failures of his parents’ first businesses – and the subsequent need to relocate from his childhood home – made him ever vigilant of bank debt and possible business failure. In 2008, Encinar was named a Young Global Leader by the World Economic Forum.

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