外刊第12期.docx

外刊第12期.docx

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外刊第12期

2014年外刊第12期

赵老师英语   2014-08-3020:

56:

26

Passage1:

Marketing

Whatarebrandsfor?

Brandsarethemostvaluableassetsmanycompaniespossess.Butnooneagreesonhowmuchtheyareworthorwhy

Aug30th2014 | Fromtheprintedition

WHENImperialTobacco,theworld’sfourth-largestcigarette-maker,saidinJulythatitwouldspend$7.1billiontoexpanditsbusinessinAmerica,itschiefexecutive,AlisonCooper,wasadamantononepoint:

itwillnotbebuyingcompanies.Instead,inathree-waydealwithReynoldsAmericanandLorillard,itwillpickupafactory,asalesforceand,aboveall,acollectionofbrands.Twoofthem,WinstonandBlu（anelectronic-cigarettebrand）,willbe“thefocusforthelion’sshareoftimeandmoneyinvested”.

NomanagementexpertwouldthinkitstrangethatImperialwouldspendthebestpartof$7billiononsomethingasetherealasbrands.TheyarethemostvaluablethingthatcompaniesasdiverseasAppleandMcDonald’sown,oftenworthmuchmorethanpropertyandmachinery.Brandsaccountformorethan30%ofthestockmarketvalueofcompaniesintheS&P500index,reckonsMillwardBrown,amarket-researchcompany.EveryoneknowsthataRalphLaurenPoloshirtcostsmorethanapoloshirt;Cokewithoutthelogoisjustcola.MsCooperhopestoexploitWinston’s“untappedbrandequity”.

Yetargumentsrageabouthowmuchbrandsareworthandwhy.Firmsthatvaluethemcometostarklydifferentconclusions.Mostofthetimetheydonotappearasassetsoncompanies’balance-sheets（see article）.Oneschoolofthoughtsaysbrandssucceedmainlybyinspiringloyalty.“ConsumerswoulddieforApple,”believesNickCooperofMillwardBrown.Otherstakeacoolerview.BruceMcColl,whoasthechiefmarketerofMarsoverseesSnickerschocolatebars,Whiskascatfoodandotherbrands,isonrecordassayingthat“consumersaren’touttherethinkingaboutourbrands.”Andhowevermuchbrandsmayhavebeenworthinthepast,theirimportancemaybefading.

Brands,ofcourse,vary.Someidentifyproductsthataredistinctive（like TheEconomist,wehope）.Othersconferdistinctiononproductsthatareotherwisehardtotellapart,suchascola.Thebrandsofbanksandinsurersareshapedlessbyadvertisingandmarketing（theusualwaysofbuildingabrand）thanbycustomers’experiences,pointsoutSimonGlynnofLippincott,aconsultingfirm.Insuchcases,consumersgetthemessageonlyifemployeesdo.

TheideaofbrandequityaroseinAmericainthe1980safteraboutofcut-throatdiscountingbyconsumer-goodscompanies,whichpromptedthemtolookforless-savageandmoreenduringwaystoboostsales.Patientlybuildingbrandsbecamethepreferredalternative.Theywouldallowcompaniestoholdontocustomers,winnewonesandprovidelaunchingpadsfornewproducts.DavidAaker,abusiness-schoolprofessorwhohelpedspreadtheidea,identifiedthreemaincomponentsofbrandequity:

consumers’awarenessofabrand,thequalitiestheyassociatewithit（BMWsummonsupGermanengineering,Ryanairsays“cheap”）andloyalty.Theargumentsnowarepartlyoverhowimportanteachelementis.

What’slovegottodowithit?

Loyaltyiswhatexcitesmarketersandadvertisingfolk.So-called“lovemarks”suchasAppleandCoca-Colaaretrademarksthatinspire“loyaltybeyondreason”,saysSaatchi&Saatchi,anadvertisingagency;thefirmrunsawebsitethatlistshundredsofthem.Theyhavelegionsoffans,commandapricepremiumand,mostimportantperhaps,areforgivenwhentheyfallshort.The“emotionalbondputscreditinthebank,”saysMrCooper.Brandsareapromisetoconsumers,itisoftensaid;theyalsoserveasaninsurancepolicytocoverthecostofbreakingit.

Muchmarketinggospelflowsfromthisview,suchastheideathatbrandsmustdifferentiate,appealtodistinctgroupsofconsumersandfosterfidelity.Loyalconsumers“reallydrivebrandprofitability,”believesMillwardBrown,whichispartofWPP,abigmarketinggroup.Loyaltyand“emotionalconnection”alsofigureintheBrandStrengthIndexdevisedbyBrandFinance,acompetitor.Somecompaniesevenlinkpaytoindicatorsofbrandhealth.AtHSBC,partoftopexecutives’bonusesdependonBrandFinance’svaluation.

Asecondviewholdsthatbrandsare“ashorthandforchoice”,inthewordsofMartinGlenn,chiefexecutiveofUnitedBiscuits,producerofMcVitie’s.Theymakeiteasierforshopperstocutthroughtheinformationbombardmentthatrainsdownuponthem.Onthisanalysis,awarenessmattersmorethanloyaltyorpassion.

Apple’scomputers,forexample,mayhaveastrongbrand;buttheycommandonlyalittlemoreloyaltyfrombuyersthandocustomersofless-ballyhooedmakesofcomputer,arguesByronSharp,amarketingexpertattheUniversityofSouthAustralia.TheirslightlyhighertendencytostickwithAppleprobablycomesfromthehassleofhavingtoconverttoadifferentoperatingsystem,ratherthanloveofthebrand,hereckons.Harley-Davidson,amotorcyclecompany,iswellknowntohaveadevotedfanbase.Butinfactsuchfanaticsaccountforonlyatenthofitscustomersandjust3.5%ofitsrevenue.

Onthisview,companiesthatstrivetodifferentiatethemselvesfromtheircompetitors’brandsaremostlywastingtheirtime.Takefizzydrinks.MrSharp’sdatashowthatlessthanone-fifthofthepeoplewhoquaffthemthinkthereisanythinguniqueorspecialaboutCoke,Pepsiandthelike.Manyproductsmarketedmainlytowomenarelargelyboughtbymen,andviceversa.Aconsumer-goodsbrandthataimeditsmarketingatitsmostferventfanswouldlosesales:

atypicalCokedrinkerbuysoneortwobottlesayear.

Forgetmenot

Whatconstitutesbrandequity,MrSharpcontends,is“physicalandmentalavailability”,bywhichhemeanstheopportunityforconsumerstofindproductsinshopsandtheirpropensitytothinkofthebrandwhenshopping.Thatisachievedthroughtraditionalmethodsofmassmarketing,suchastelevisionadvertising,packagingandcelebrityendorsements,ratherthanthroughthefashionabletargetedsortmadepossiblebytheinternet.

Kellogg’stakesthispointofview.Thecereal-makerthinksitstried-and-testedimagery,suchasRiceKrispies’Snap,Crackle&Pop,hasproveditsworthbyplantingbrandsinconsumers’minds.“Hopefully,we’resmarteraboutretainingthingsovertime,”saysJaneGhosh,Kellogg’scommercial-marketingdirectorinBritain.Loyaltyisreal,butdoesnotvarymuch,orshowthatconsumersarepassionateaboutbrands.Theyareloyaltostufftheycanfindeasilyinshopsandintheirmemorybanks.

Eventhisargumentistoostarry-eyedforItamarSimonsonandEmanuelRosen,authorsofarecentbook,“AbsoluteValue:

WhatReallyInfluencesCustomersintheAgeof（Nearly）PerfectInformation”.Theyarguethatconsumersarebecomingmorerationalandneedbrandsless.

Theoriginaljobofbrandswastoassureconsumersaboutthequalityofaproductorservice.Some,suchasSonyinelectronics,andover-the-counterremediessuchasTylenol,stillseektodothis.Butnowcustomerscanreviewproductsonshoppingwebsites,talktoeachotherthroughsocialmediaandconsultreviewswebsiteslikeandTripAdvisor.Brandsthushave“areducedroleasaqualitysignal,”writeMessrsSimonsonandRosen.Shoppingwebsitesalsomakeiteasierforconsumerstofindthesortofproducttheylikeandfilteroutthesorttheydon’t.Sobrandsarelessneededasamentalshortcut.“Brandequityissimplynotasvaluableasitusedtobe,”theauthorscontend.

Peoplehavebeenpredictingthedeathofthebrandsincethebirthofe-commerce.Ithasnothappened,MrSharpsays,becausepeoplearelazier,andreviewslessuseful,thantheseersassume.Consumershavecometoexpectdecentproductsatgoodprices.Brandsguidethemtotheonestheywant.Theyarelikelytosurvivetheageof（nearly）perfectinformation,thoughexpertswillcontinuetodebatewhy.

Passage2:

TheEbolaoutbreak

Thatothersmaylive

Aug29th2014,17:

00 byC.B.|BAMAKO

ITISasolemncustominsciencetomarkthenamesofcollaboratorswhopassawayduringthecourseofanarticle'spublicationwithasuperscriptnodifferentthanthatindicatingtheiracademicaffiliation.Veryrareindeedisthecasethatfivenamesonasinglereportshouldsharethatmark.Suchareportwas publishedinSciencethisweek. Itdemonstratestheastonishingspeedatwhichgeneticsequencingcannowbecarriedout.Atthesametime,thefactthatEbolaclaimedfiveofitsauthorsistestamenttothedeadlinessofthepaper'ssubject.

OnJune4th,StephenGire,apublichealthresearcherattheBroadInstituteinCambridge,Massachusetts,tookdeliveryofapolystyreneboxfrom Kenema,SierraLeone.Insidewere vialsofdeactivatedbiologicalsamplesfrom78patientssuspectedtohaveEbola.MrGireandacolleaguebegantoteaseoutthelettersofeachvirussample'sgeneticcodewithsomeofthemostadvancedtechnologyyetdevisedforthetask;beforelong,halfofMrGire's30-stronglaboratoryhadvolunteeredtohelp.

Then,thosesequencesofgeneticletterswerefedintoacomputermodelthatlooksforhintsofmutationswherethelettersdiffer.Theparticularmutationsthatseparateeachsamplegavehintsastohowcloselyrelatedeachwasand,becausemutationshappennaturallyatapredictablerate,howlongagotheydivergedfromacommonancestorvirus.Thenetworksoftransmission fromonepersontoanotherwerelaidbareinalaboratoryhalfaworldaway. 

Thedatasuggestthatthevirusthathasnowkilledmorethan1,400andinfectedmorethan3,000aroseasadistinctstrainin2004.Itdescendedfromthe1976Zairevariant,whichusuallyemergesincentralAfrica.Itmayhavebeenlurkingin