Professor Evans recently did a radio interview following up on our prior post on Rogue One.
Click to listen to that interview.
Evans on Marketing Business Analytics and Marketing Information, Consumers and Their Behavior, Distribution, Global Marketing, Marketing Communications, Product Management, Social and Digital Media, Sports and Entertainment Marketing, Trends business model, customer expectations, customer satisfaction, entertainment marketing, experiential marketing, Hofstra University, joel evans, opportunity, planning, promotion, radio interview, Rogue One, social media, Star Wars, success, tie-ins, total revenue, Zarb School 9
It is pretty crazy the phenomenon that takes place over anything new in the Star Wars world. I also found it extremly interesting how large the age group of people Star Wars appeals too. As you mentioned parents as much as kids are excited to go see this new Star Wars movie. Adults being excited for this movie was expected due to Gillette’s new Star Wars razor set. Overall the 12 billion dollars in revenue is a ridiculous amount and Star Wars will not only benefit from this but also the ancipiated large movie revenue.
Personally, I am not a fan of Star Wars, but I do admire their marketing niches. They usually launch the trails far beyond the film release time. Besides, the branded products they give license to are massive, which can gain more profits as well as attract diffenrent segments of customers.
Even if you are personally not a fan of Star Wars, no one can deny the amount of fans and profit that have been placed into the industry. The fans have personally made their own mark on the franchise generating billions and billions of dollars. Over the years, Lucas has added and removed material to his movies. This movie has such appeal that fans are loyal to the brand and have always wanted to go back to the original theatrical version which now has high definition. The fans love their movies enough to go back and recreate the original theatrical edition of the movie which are out for the public to take for free. This only is to show that Star Wars fans are loyal to their franchise.
Even a one-year old little baby likes star wars toys! This is incredible how they marketing themselves. Yeah, I agree your opinion that if consumers dislike the character they won’t buy those toy or something from the movie. It’s about the movie itself and also the commercial made consumers feel closer to the movie.
I have never watched any of the Star Wars movies, but I still know how big this franchise is. I will see Star Wars references in conversations, movies, shows, in the supermarket, and in toy stores. It is amazing to think about the amount of money that this franchise made just on merchandise alone. Star Wars will forever be an iconic franchise and will continue to make money.
One of the most remarkable accomplishments of the Star Wars franchise is, as stated in the interview, is that while $6 ¼ billion of revenue has been credited to the movies, $12 billion has been credited to toys and merchandise based on the franchise. The fact that the franchise’s merchandise creates more revenue than the movies, themselves, is incredible. Due to its consumer loyalty and general target audience, almost anyone who has watched a few of the movies would be interested in purchasing merchandise for the films. As an example, the franchise has partnered with Gillette to create Star Wars based razors. Obviously, these aren’t targeted to kids, so it only demonstrates how kids who watched the early films not only are still interested and purchasing merchandise, but are also probably getting their children interested as well. Therefore, the franchise’s marketing efforts and huge amount of consumer loyalty all over the globe results in the immense success of the recent film and the franchise in general.
Star Wars has become a craze unparalleled by any other in recent memory. The franchise has elevated from a lowly startup that could not even sell merchandise, to a internationally renowned name profiting billions of dollars. Credit to George Lucas and other team members for an astounding job in terms of of management in promotion. Without that level of expertise, Star Wars would not be anywhere near the level of popularity it has ascended to today.