Tag Archives: opportunity

What Motivates Car Buyers Around the World?

18 Apr

There are many different reasons why consumers buy specific car types and models — even in the United States. But, how different are purchase motivations around the world?

To answer this question, Nielsen recently conducted a large-scale online survey in 60 countries:

“’Linking global automotive demand with consumer sentiments and media habits is vital to developing marketing strategies that connect the right consumers with the right automotive brands,’ said Pat Gardiner, president of Nielsen Automotive. ‘The Asia-Pacific and Latin American regions, as expected, represent large areas of growth opportunity for the industry, but capturing this opportunity hinges on marketers successfully identifying, understanding’ and effectively connecting with the needs and desires of these buyers.’”

“One key to unlocking the demand drivers is discerning what role a car plays in the consumer’s life. Is it for utility — simply a mode of transportation to get you from one place to another? Is it to express status — a symbol of the success you’ve achieved in life? Or is it more purely emotional — you just love to drive? While each of these sentiments may play a role in the car-buying decision process, connecting with the emotions that pull at the heartstrings draws consumers more powerfully along the path to purchase.”

Click the image to read more.

 


 

The Impact of Corporate Culture on Branding

16 Apr

A clear , desirable, and distinctive product/brand positioning message is essential for companies to be successful in today’s competitive marketplace.

What is sometimes under-appreciated is how crucial the corporate culture is in establishing and maintaining the correct product/brand position in consumers’ minds.

Take a look at this infographic for an innovate perspective on this from masters-in-marketing.org. Click the infographic for a lot more background information.
 
Corporate Culture
Source: Masters-in-Marketing.org
 

Highest-Paid Marketing Executives

14 Apr

As we’ve noted before, marketing can be a great career field. There are millions of diverse and interesting marketing jobs in the United States alone. And marketers are often paid well, too.

According to Forbes, the total annual compensation for each of the top fifteen chief marketing officers (CMOs) in the United States was at least $3.3 million in 2013. Kathryn Dill reports that:

“Chief executive officers may be the face of an organization, but it’s often chief marketing officers who are responsible for the branding and identity by which consumers readily identify a company. So how are c-suite-level creative forces being compensated? To get a sense of what top tier marketing executives earn, Forbes worked with executive compensation firm Equilar. The 15 names appearing on the list have the highest salaries of executives with the word ‘marketing’ in their job title at all publicly traded companies in the U.S.”

“Topping the list this year is David B. Fischer, Vice-President of Business and Marketing Partnerships at one of the country’s most recognizable brands, Facebook. An alum of Google and the U.S. Treasury Department, Fischer joined Facebook in 2010 and is credited with building the social networking giant’s robust advertising platform.  In 2013, Fischer earned a whopping $8,009,343.”

Click the image to access a Forbes’ slideshow and to read more.

 

When Does a Selfie Go Too Far?

10 Apr

Recently, the Boston Red Sox baseball team was honored by President Obama for winning the 2013 World Series. The tradition of U.S. presidents honoring winning teams and athletes goes back many decades.

So, what makes this year’s celebration different? David Ortiz of the Red Sox took a selfie with President Obama. Nothing wrong what that, right? So, what’s the controversy?

It seems that Ortiz had signed a promotion deal with Samsung shortly before the ceremony and the photo then became viewed as too commercial in nature — something that all presidents have frowned upon.

As reported by Tim Parry for Multichannel Merchant:

“It all seems innocent. But Terry Lefton of Sports Business Daily reported a day before the Big Papi-presidential selfie that David Ortiz had signed an endorsement deal with Samsung – one similar to the one Ellen DeGeneres signed with Samsung prior to her Oscars selfie.”

“Here’s where it gets funny: Samsung told The Boston Globe that they arranged for the Ortiz-Obama selfie. Ortiz, on the other hand, said the selfie was not a publicity stunt.”

Who do YOU believe?

Click the image to read more.
 

 

“Incomplete” Products Can Spur Customer Consumption

28 Mar

According to Barbara Kahn, a Wharton professor, we are likely to consume more if we believe we are buying an “incomplete” product. Is this you? Read on.

In the Knowledge@Wharton video below, “Kahn talks about how a complete product encourages more consumption: A person is likely to eat two pieces of cheese with holes in them but only one if it is solid, for example. It’s a matter of perception, Kahn explains. She also discusses her research on the attention that consumers pay to large assortments of goods and how it influences their choices when information is presented visually or verbally. In addition, she describes a study on how consumers behave when goods are stacked vertically versus horizontally.”

 

Lessons from SXSW Interactive

20 Mar

As noted at its Web site: “The South by Southwest® (SXSW®) Conferences & Festivals offer the unique convergence of original music, independent films, and emerging technologies. Fostering creative and professional growth alike, SXSW is the premier destination for discovery.”

At the recent SXSW Interactive event,  JWT Intelligence did some background research and came up with 10 key overriding themes for us to consider:

  1. The Snowden effect
  2. Data permanence
  3. Demystifying cryptocurrency
  4. The future of the Internet
  5. Wearables
  6. Man versus machine
  7. Disruption
  8. The humanitarian potential of technology
  9. Visualization
  10. Mindfulness and technology

Here is a slideshow that looks in-depth at these overriding themes from JWT Intelligence:
 

 

How About This Radical Idea? Hold on to Your Smartphone

17 Mar

For years now, we’ve been conditioned to buying a new cell phone every two years. Why? More features, longer battery life, cooler design, status, etc. And mobile companies have sure made it easy for us to do this. In return in for agreeing to a another two-year contract, we get a state-of-the-art shiny brand-new smartphone for a relatively low price. The service carriers subsidize the price of new phones by having us subscribe to contracts that promote high-margin services.

With the above in mind, let’s consider a rather radical idea espoused by Farhad Manjoo, writing for the New York Times. If Manjoo’s ideas are accepted, there will be a substantial impact on our smartphone purchase behavior — and on service providers’ bottom lines.

Here’s Manjoo’s perspective: “Despite their small size, smartphones are expensive, resource-hungry goods, and they deserve a better life cycle than two years of use followed by an eternity in a forgotten desk drawer.” So, “use your phone for more than two years, ideally three; when you run into trouble, try to repair, not replace it; and when you’re done with it, trade it in. When you’re looking for a new phone, don’t just consider the latest high-end devices; many people will find last year’s best phone just as useful as the newest one. You might even consider buying a used phone instead of a new one.”

Manjoo’s tips are to

  1. hold on to your smartphone for a longer time.
  2. sell or trade in your old phone to a company such as Gazelle (there is a growing aftermarket).
  3. buy a used phone (there are many great choices out there).

Click the Gazelle image to read more from Manjoo.

 

It’s Critical for EVERY Company to Keep on Innovating

16 Mar

What are the two major goals of many companies? To grow sales and to grow profit. And while most companies say that being innovative is also a key goal, do they really mean it? The typical company tends to spend two percent or less of revenues on research and development. And the great majority of “new” products are usually simple line extensions or new models. At a large number of companies, innovation may not be dead — but it is certainly in a deep slumber.

With this in mind, let’s take a look at a terrific article called “Why Companies Stop Innovating” by Steve Blank for Inc. According to Blank:

“There’s been lots written about how companies need to be more innovative, but very little on what stops them from doing so. Companies looking to be innovative face a conundrum: Every policy and procedure that makes them efficient execution machines stifles innovation.”

“Facing continuous disruption from globalization, China, the Internet, the diminished power of brands, and the changing workforce, existing enterprises are establishing corporate innovation groups. These groups are adapting or adopting the practices of startups and accelerators — disruption and innovation rather than direct competition, customer development versus more product features, agility and speed versus lowest cost.”

“But paradoxically, in spite of their seemingly endless resources, innovation inside of an existing company is much harder than inside a startup. For most companies it feels like innovation can only happen by exception and heroic efforts, not by design. The question is: Why?”

Click below to see Blank’s detailed answers to this question.

 

 

Breathe Energy Into Your “Social” Life

11 Mar

Guest blog by Andrew Jedlicka                   

Marketing Professional & Adjunct Professor
 
More and more companies are aligning social media with their marketing and communications plans; therefore, the need to create a social media strategy is becoming more imperative than ever!

Organizations need to take a deeper look at their industry, market trends, competitors, and most importantly…their customers. They can do so by being more S-O-C-I-A-L”:

S — Strategize and plan your short-term and long-term goals as an organization, thus focusing on how social media trends in the marketplace can add value to your overall objectives.

O — Optimize and take full advantage of these trends such as utilizing blogs, video and photo sites, social bookmarking, and other forms of social media and marketing techniques.

C — Create and communicate your strategy internally to your employees once determined. No matter how small or large your organization is; it is important that your employees understand your social media strategy to provide optimal value to the organization and its end-users. Create your plan by identifying and segmenting your target market.

I — Identify strengths, weaknesses, opportunities, and threats by creating a specific SWOT analysis as it relates to your social strategy.

A — Align your SWOT-based strategy to make any necessary adjustments and edits to your strategy.

L – Launch your strategy, first as a test and then for real, and continue to measure, track, and evaluate!

 
According to the 2013 Social Media Marketing Industry Report; marketers want to learn more about blogging. 58% of marketers are blogging, 62% want to learn more about it and 66% plan on increasing blogging activities. A significant 86% of marketers also said that “social media was important to their businesses.”

As marketers increase their knowledge of social media, there is a growing opportunity to create an effective strategy!
 

Lego Mania Goes Viral

6 Mar

The Lego Movie has turned out to be quite a global phenomenon. Click the image to visit the movie’s Web site.

According to Box Office Mojo, through March 4, 2014, the movie had grossed $333,000 worldwide — $212 million in the United States and $121 million in foreign markets. And, unlike some other blockbuster movies that cost much more to make, The Lego Movie cost $60 million to produce, making it highly profitable.

But The Lego Movie mania goes far beyond the popularity of the film itself. There have been a lot of promotional tie ins (see this article, for example). And Toys “R” Us even set up special displays for Lego movie figures.

Separate and apart from the recent movie, there is also a Lego “YouTube Spotlight” with a number of “fan-made” videos based on Lego characters. Many of the videos preceded the introduction of the movie — nonetheless, they extend Lego brand recognition and continue to be highly viewed. The most popular Lego movie in the spotlight is Battle of the Brick: Built for Combat, which has been viewed nearly 17 million times.

All in all, it’s a great time for Lego.

[Note: The video below, Battle of the Brick: Built for Combat, is 27 minutes long.]
 

 

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