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Looking Back, the Project Reflection

 

In the past two years I have done everything PepsiCo. I participated in a CMA case competition focusing on the Pepsi Refresh Project, and now this year completed a marketing project with PepsiCo. as the featured firm. I have to admit, it has been interesting learning about the reach of this company, and how it markets its’ products. I am a loyal Coke fan, but I have admired the marketing of PepsiCo. and its’ abilities to grow its consumer base, and well as develop new products without diluting its’ brand.

In this project we focused on a market segment that all of group members could relate to, the sports fan. We made that our research was extensive and in-depth enough to understand why this market segment was so important to PepsiCo. Looking back we did a lot of research and connected it with all our points that we made along the way.

As a group we probably could have started earlier in order to develop more points and not rush the prod
uction stage of the project. We still had several days to film to project as well as edit it, and we uploaded it early. Our group did a lot of things well and we all participated very equally. The diversity of our group brought a lot of different perspectives and ideas to the table.

Next time, I think we could have focused on more details earlier on in the project. As well, we should have come to office hours and asked for an idea, or confirmation on the direction we initially had. Otherwise, I believe this was the best group project I have had at Sauder. Thank you for a great introduction to marketing and an overall amazing class!

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The Most Successful Launch Ever

 

My days of playing video games have long past; however, it amazes me at the growth of the sector, and the continuous advancements in technology. On November 16, Sony released its much anticipated PS4. Selling over 1 million units in its first 24 hours, the most successful launch ever, it is apparent that this market segment is only growing larger.

Sony succeeded in its launch of the console if with very little marketing. Few advertisements were purchased on television. Instead Sony utilized the power of social media, and the draw of “late night.” Flooding YouTube with advertisements before and between videos, Sony has successfully reached its target market. Those consumers researching the console or looking to purchase games through reviews were greeted with the advertisement for the launch of the new console.

Not only were there YouTube ads, but Sony PS4 team members went on late night shows such as Jimmy Fallon
 and promoted the console. On air with actors and other high profile celebrities, team members demonstrated the product and allowed celebrities to test the product prior to last Friday’s launch.

With this launch, Sony has successfully launched a product, while virtually minimizing advertisement costs. They have segmented the market, and targeted consumers in places they spend a majority of their online time. As well, as targeting more of the general population, and raising the hype of the console with links to celebrities.

Gamers, and those drawn by the advancement in technology that is represented by the PS4, lined up for hours to be one of the first to buy it. The evidence is in the cards, and Sony’s success is illustrated by the best launch of a console in history.

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The One and Only, National Football League

Ever since I can remember I have watched hockey. The Vancouver Canucks are my team, and I hate to miss a game. However, during the most recent lock out of the NHL, I allocated my free time to watching the NFL. Now I hate to miss any NFL game, including my Seattle Seahawks.

The NFL has been able to create an entire experience for fans both watching games at the stadiums or on the TV. The entertainment value of these games is not even close to that of the NHL, MLB, or any other major league sport in North America. I would never have thought that I would rather sit down with some friends to watch a football game instead of watching my beloved Canucks.

The NFL and its corporate partners have been able to develop this experience to the extent that fans are engaged both before, during, after the games have been played. Through fan promotions, and fantasy football, fans are literally addicted to the game. I can honestly say, that I have been converted. Not to say that I don’t enjoy my Canucks, but I value an NFL game more than an NHL game.

In terms of fan statistics, 60.2% of NFL fans are male, but NFL marketers have strove to increase female viewership. The NFL has targeted women through adding pink colours to their product lines, and partnering with Nike and Victoria Secret. Marketers from other leagues can learn a lot from the development of the NFL. They have stolen me as a fan, and I can just imagine how many other fans they have converted.

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RE: Marketing Albums in the Digital Age

The marketing blog of Kelsey Ingham has perfectly highlighted the struggles musical artists today are having with regards to engaging fans. No longer can artists, and their promoters build up promotions through print media, and network ads. The advancement of the internet, and the ability to share audio and video across multiple platforms has created a black market for the entertainment industry.

Facebook, Twitter, Instagram and other social media websites are used to create a vibe prior to the release of media, or productions. Reaching thousands or even millions or people, information can be sent instantly, and promotions can be launched across the world while reducing marketing costs.

As Kelsey notes, there have been many promotions that have failed to engage fans, and end up having virtually no effect. Promotions either are too time consuming, or ineffective in terms of creating a loyal following. Fans nowadays wait online for the release of an album instead of waiting outside their local CD store. Artists release single tracks, or previews albums, but the most popular submissions are cover photos of the albums.

The music industry may now be the most competitive for marketers. Fans and consumers must be enticed to purchase the album through Itunes or other platforms. Costing more than $1 per song, technologically savvy consumers would much rather illegally download their media, and this is the fight that the media industry has undertaken.

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The Power of the Pumpkin

As the leaves start to change colour and eventually retreat from their homes up above, people flock to Starbucks to warm up with a pumpkin spiced latte. Transforming the way we think about the transition from summer to fall, Starbucks has created the image that this latte is the mascot of the fall season.

Bundling up with several layers and venturing outside is no longer the image that comes to mind when I think about the weather getting colder. I now picture shacking up in one of the many very strategically placed Starbucks locations, grabbing a grande pumpkin spice latte, and sitting in one of the cozy lounge chairs.

Selling more than 20 million units since introducing the product 10 years ago, the craving from the latte has grown stronger with each coming season. With demand skyrocketing, Starbucks has had issues with keeping inventory of the sweet syrup used in latte.

Whether consumers are on the bus, or watching television prior to going to work, Starbucks’ marketers have been able to create need by showing consumers the value in the latte. Walking the cold streets or waiting in the commute to work, according to Starbucks, can be much more enjoyable with a nice hot pumpkin spiced latte in hand. Better yet, they have expanded the craze of the pumpkin into their baked foods such as scones, muffins and biscotti.

Now, a fall day is not near complete without a dose of the pumpkin spiced latte, and a little something extra to go along. Don’t worry about the latte ending in December because Starbucks has a different line of lattes to fill the need for the Christmas season.

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Exploiting a Day of Remembrance

Everyone remembers where they were on 9/11. A day of tragedy that will forever be remembered. Until this year, AT&T posted an advertisement of one of their phones capturing a picture of where the towers once stood. Played off as a tribute to the events that occurred, AT&T ultimately used this occasion to reach their potential consumers.

There are so many opportunities for these companies to display advertisements, such as the Super Bowl or on the bus; however, events such as 9/11 should be untouchable. Marketers across the globe must understand the boundaries of exploiting such tragedies, or even particular holidays.

Outrage from the post on Twitter was instantaneous, and AT&T was forced to remove the tweet. The horribly timed tweet may, and should translate to consumers changing their perceptions about the company. Albeit a small act, this is just one example of how companies and their marketing departments must collaborate in order to establish a code of ethics.

The entire idea of companies aiming to maximize profit is in some way related. AT&T and others look to establish long-term relationships with their consumers, and without their consumers being satisfied it is easy for them to turn to other competitors, particularly in highly saturated markets like telecommunication.

Ultimately, there is a time and a place for everything. Rather than trying to exploit the emotions of people on an anniversary of a tragedy, company’s should truly post a tribute. Monday night football or Thursday night commercials are the place and time to place advertisements. Company’s must respect their consumers before their consumers will respect them.

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Big Box Retailers Taken to Court by Quebec

BestBuy, Costco and Walmart operate under the same name from Canada to China; however, Quebec’s language watchdog have taken these big box retailers to court for not providing french labels and french versions of its brand names. These companies have built up brand recognition for years, and to force these companies to change its name, is equivalent to changing the face of the company.

Brands such as these do not need a brief description or a translated label. Countries in like India and China have not forced these companies to change labels even though English is not an official language. All of these products come from the same factory, and for a large company to change the labeling would not only create a hassle, but it would create extra costs to produce the product. The English-French labels costs the Canadian several billion dollars each year.

These extra costs are passed onto consumers, and then consumers wonder why the same products in America are cheaper than in Canada. Economies of scale of another factors come into play, but costs of a change to the label are passed onto consumers. If the government wants these changes, should they not pay for it?

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University Students Advise Struggling B.C. Town

Small towns across B.C. have struggled to maintain population and economic stability. Many of these towns heavily rely on the forestry industry that has struggled to maintain capacity, particularly during the American housing recession. Five students from Sauder are currently working on a marketing strategy for Port Alberni, a small town on the west cost of Vancouver Island.

These students have gathered input from businesses, and people from the town, and have worked on developing a plan over a semester long marketing class. This is a great opportunity for these students to work on a real life case study, interact with real businesses, and ultimately try to fulfill the goal of the city to increase the population.

Located on Highway 4, Port Alberni is the last town before Uclulet and Tofino. The city has tried to benefit from tourists travelling through the town on the way to Long Beach. The students have also taken on the challenge to attract these travelling tourists, to stop in Port Alberni and contribute to the economy. This case study outlines just one of several B.C. towns that have struggled with the economic downturn that has affected the entire world.

 

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Alternative Investments in an Uncertain Market

Investors for decades have said, gold is the investment safe haven. During the 2007 recession, most investment advisers told clients “cash is king.” Even while the markets try to recover, fiscal cliff and other economic worries have dragged down the market, not even exempting technology powerhouse Apple Inc. that has fallen more than 20% from the September peak.

From these uncertain times in the market, investors have taken to alternative forms of investments such as art, real estate, and alcohol. Recently in B.C.’s flagship liquor store located on Cambie street in Vancouver, wine lovers and connoisseurs alike flocked to the store for a chance to purchase a 2009 Bordeaux. It is speculated that this year could be the greatest vintage ever. This is a perfect example of the chances alternative investors are taking. A bottle of 2009 Bordeaux will set you back anywhere from $29 to $4,000!

As well, one of 88 bottles of a rare scotch priced at $33,500 is currently exclusively available at the Cambie store. A large percentage of alternative investors are Chinese that are not only investing in fine wines and whiskeys, but have driven the Vancouver real estate market for years. In a risky market, these investments may be the new safe haven.

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17 Year Old Super Genius Raises 250 Million

At 15 Nick D’Alosio created a the company now known as Summly. Nick found a gap in online media, that forces customers to purchase articles based on the first few sentences of an article. Through a logarithm, the Summly app is able to intelligently summarize an entire article, highlighting all of the main points and issues, all fit to the size of a consumer’s device.

Now 17, Nick has raised 250 million in financing from billionaires such as Li Ka Shing and celebrities like Ashton Kutcher. As an entrepreneur, Nick has dedicated all of his time to this revolutionary technology. He has left school, and works full time with the company and its investors.

With the technology sector growing so fast, there are ample opportunities for young entrepreneurs like Nick to make a difference. Entrepreneurs that are as young as Nick are more in touch with the market and they are able to utilize developing technologies to create a new need. Similarly, Mark Zuckerberg a young Harvard student was able to create Facebook from an idea that developed after a night of drinking with friends. These Silicon Valley entrepreneurs are the future. The future of technology, and again the future of the market.

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