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Branding and Millennials

17 Oct

As we have written before, millennials represent a very large and distinctive market segment — in the United States and around the world. In setting a brand strategy to best appeal to this group, various factors must be kept in mind.

In a recent study (Debunking the Millennial Myth: Initiative’s Global Research Study), Initiative – a U.K.-based media planning and buying agency — “examined the lives of 10,000 25-34 year olds in 19 countries, finding out about their lives, their mindset, how they use technology, and how they feel about brands.”

CLICK HERE here to download the full report. (Note: A short login form must be completed to access the report.)

A summary of the report has been published by MarketingCharts:

“Three in 10 millennials (aged 25-34) around the world are cynical about the way brands market to them, and that figure rises above 40% in the U.S. and U.K., finds Initiative in a new study. With such skepticism evident, brands should demonstrate their commitment to social causes and emphasize attributes such as authenticity and trustworthiness. [This] can be seen as directly related to the skepticism that many millennials hold for brands. But, they also align with some of millennials’ common traits: Millennials’ economic uncertainty and insecurity, for example, means that they appreciate brands that are useful to them and can emotionally connect with them in an authentic way.”

Click the chart to read more of the summary.

 

 

Meet the NEW Family — A JWT Intelligence Report

1 Oct

We know that families and households around the world have been changing for decades — in terms of demographics, lifestyles, shopping behavior, and more. Do marketers fully get all of these changes?

There is an interesting and eye-opening new report from JWT Intelligence:

“The notion of family is rapidly evolving, but many brands aren’t yet portraying the new reality of today’s families or fully speaking to their needs. Marriage is no longer a given in many parts of the world, nor are children; at the same time, gay couples are embracing these milestones as attitudes and laws change. Meanwhile, as people live longer, more are forming new families in later decades, and households are expanding to include multiple generations. On the other end of the spectrum, more people are living in households of one, forming families out of friends or even treating pets as family. This report spotlights what’s driving these trends, supporting data and examples of how marketers are responding.”

 

 

Informative Video Overviews of Careers in Marketing

30 Sep

ReKruiTIn, an India-based recruitment firm, has put together a nice YouTube video on marketing careers. This video is valuable for anyone considering a career in marketing, regardless of their country or region. :-)
 

 
Job-Interview-Site.com has also developed a useful video interview of a career in marketing.
 

 

Where Luxury Is Headed Worldwide

24 Sep

According to consulting firm McKinsey:

Between now and 2025, the world’s top 600 cities (measured by absolute GDP) are expected to drive nearly two-thirds of global economic growth. Massive urbanization will continue across emerging markets, which will envelope three-quarters of these large cities. It is projected that by 2025, there will be 60 megacities — more than double the current number of urban behemoths — where GDP will exceed $250 billion, accounting for a full one-quarter of global GDP.”

As of 2025, “out of the 25 largest growth-contributing cities, 21 will be located in emerging markets, with a significant number of them in China. This represents a great leap from today’s status quo, in which only 4 of the 25 wealthiest cities are found in the developing world. Yet economic growth does not automatically mean consumption development — or luxury-market growth. Market growth in these cities is indeed conditioned by specific factors that differ from city to city. Variables such as birth rate, wealth distribution, and share of working women correspondingly affect growth in categories such as baby food, beauty products, luxury goods, and women’s fashion. To prioritize their efforts, companies will need to identify the biggest and fastest-growing cities with regard to their particular products and services.”

In McKinsey’s report The Glittering Power of Cities for Luxury Growth, Aimee Kim, Nathalie Remy, and Jennifer Schmidt describe “a road map of where luxury-goods companies should compete in the next decade.”

Here are two charts from that report.

 

 

 

Are Microsoft and Minecraft a Good Fit?

17 Sep

Mojang, the maker of the highly popular Minecraft video game, has reached an agreement to be acquired by Microsoft. The purchase price is $2.5 billion. The deal is important to both Mojang and Microsoft, the maker of Xbox.

As Mojang posted at its Web site:

“Yes, we’re being bought by Microsoft. Yes, the deal is real. Mojang is being bought by Microsoft. It was reassuring to see how many of your opinions mirrored those of the Mojangstas when we heard the news. Change is scary, and this is a big change for all of us. It’s going to be good though. Everything is going to be OK. Please remember that the future of Minecraft and you – the community – are extremely important to everyone involved. If you take one thing away from this post, let it be that. We can only share so much information right now, but we’ve decided that being as honest as possible is the best approach. We’re still working a lot of this stuff out. Mega-deals are serious business.”

And in this YouTube video, head of Xbox Phil Spencer discusses Microsoft’s acquisition of Minecraft and Microsoft’s respect and admiration for the Minecraft community.
 

 
But, when the acquisition  is completed, the hard part starts — blending the Mojang culture with that of Microsoft. As Evelyn M. Rusli and Shira Ovide write for the Wall Street Journal: 

News that Microsoft is acquir[ing] Swedish company Mojang AB up a clash of cultures between the corporate giant and Minecraft loyalists — spanning from middle-school children to video-game diehards. To many of its fans, Mojang’s antiestablishment swagger has always been part of Minecraft’s mystique. Mojang, which has only about 40 employees, is run by programmer Markus Persson, who has gained a cult following by publicly blasting big tech companies, including Microsoft, Electronic Arts, and Facebook.  Microsoft, pushing 40 and worth about $387 billion, is seen as the software industry’s Goliath.”

“Already, there are signs that a Minecraft game under Microsoft will be different. According to people with knowledge of the matter, Mr. Persson is expected to leave Mojang if Microsoft completes a deal. The company’s game-development office in Stockholm isn’t expected to move or close, a person familiar with the deal negotiations said. On online forums such as Reddit and Twitter, many players questioned whether a sale would destroy the game’s indie spirits. ‘Why pay $2.5 billion for something just to alienate all the fans?’ wrote a Reddit user who goes by the handle Joebovi.”

 
 What do YOU think?
 

Universum’s 2014 Top Employer Rankings: Part 2 — Global Leaders

16 Sep

Universum is the global leader in employer branding. Annually, it conducts student surveys to determine their ideal employers. In Part 1 of our two posts on these surveys, U.S. employers were highlighted. In Part 2, global/foreign employers are highlighted.

The 2014 Universum Student Surveys by Country results are based on the responses of several hundred thousand college students around the world (although not necessarily specified by undergraduate/graduate status). Note: Some of the country surveys were conducted in 2012 and 2013.

Click the links to access Universum’s listing of the most ideal employers for many countries around the world:

 

australia  Australia

  Austria

Belgium  Belgium

brazil  Brazil

canada  Canada

China  China

Czech Republic  Czech Republic

denmark  Denmark

finland  Finland

france  France

germany  Germany

Hong Kong  Hong Kong

india  India

Indonesia  Indonesia

ireland  Ireland

italy   Italy

 japan  Japan

Malaysia  Malaysia

mexico  Mexico

Netherlands  Netherlands

norway  Norway

Poland  Poland

russia  Russia

singapore  Singapore

south africa  South Africa

Spain  Spain

sweden  Sweden

Switzerland  Switzerland

thailand round flag  Thailand

turkey  Turkey

Ukraine Ideal Employers  Ukraine

UAE  United Arab Emirates

Uk  United Kingdom

Vietnam  Vietnam

 

Social Media Maturity: An MIT Infographic

9 Sep

Some firms and individuals have reached a level of maturity with their use of social media — based on their levels of experience and activity. Others are still at the early or developing stages of social media use.

Recently, MIT’s Sloan Management Review did a global study on this topic: “The findings from our July 2014 global study on social business indicated that ‘social business maturity’ is related to the level of results that companies achieve. A new infographic illustrates how social business creates value, and outlines the primary drivers for companies seeking to advance toward social business maturity.”

Here is that infographic.
 

 

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