Marketing

Dragon’s Den is one of my favourite business related reality show.  The contestants each have their own personal business plan but lack the cash to start their business.  Dragons in the show are multi-millionaires that would invest on the plan that interest them.  One product that really caught my attention was the ITeddy, the teddy bear of the Twentieth century.
I am pretty sure that most people have at least one teddy bear some point in their lifetime.  Back when I was a kid, the most my bear can do is talk (with the help of 4AA batteries, of course).  Today, kids won’t be surprise that a teddy bear is able to talk.  The “Twentieth century” teddy bear a.k.a  ITeddy has a built in media player, fun and educational games, serve as a digital photo-frame and it even tell you a bed time story.  ITeddy is a great way for kids to learn technology and “be safe” at the same time.  Clearly, this product shows how technological advancement can change a teddy bear.

To relate this back to marketing, I think the product include many Macro-environmental factors we talked about in class.  Demographically, this product’s target market is for the Tweens (the generation after ours), a group that get bored easily.  Marketers for this product created a website so that the ITeddy is constantly being updated.  Technical advancement shows that marketing is changing quickly. Consumers are given more choices, better quality product at a lower price.  Sometimes I just think that life would have been so much easier if I was born 19 years later.

Old school ad

ITeddy’s ad