March Madness, arguably the best 4 weeks in college sports, is seen as a marketers dream. With 68 teams, from 68 different schools across the country, the follower and fan base is a huge market for companies. ESPN has utilized the tournament with it’s online streaming of all games for $3.99. They also have live updates and scores with their new Bracket Bound application. You can stream the games directly on your iPhone or Android device. The groups section of the application lets you create a group of friends and fill out a bracket for the tournament. This is always the most popular feature, being that no one has ever obtained a perfect bracket throughout the tournament. This is a huge opportunity for all the conferences to build their name and following as well. With the new B1G logo and layout, this tournament is huge for commercials and advertisements. Also, apparel sales will increase the farther your college team goes into the tournament. For example, Elite 8, Final 4, Semi-Final, and Champion apparel. The tournament gets the entire United States involved by splitting the basketball games into 4 different regions (South, East, Mid-West, and West). With multiple games being played at the same time, numerous television providers are needed. This is a great opportunity for TBS, TNT, TruTv, and CBS to gain a high number of viewers during the month of march. I have enjoyed the tournament so far and only have one thing to say, Go Green.
When visiting Harley Davidson’s website, they have a slideshow of 6 picture slogans. Number 1 was the new Freedom Custom bike: The Seventy Two. Number 2 was the introduction of another new bike, the Softtail Slim. Number 3 used the movie the Avengers for consumers to create their own custom bikes. Number 4 focused on celebrating the rich history of African American Riders. Number 5 focused on a new segment for motorcycles, women. Number 6 let you explore the 30 bikes in Harley Davidson’s line.
Here is a picture of their two newest models, The Seventy-Two (front) and the Softtail Slim (in rear). Also here is a creative ad for the Avengers and Harley Davidson here.
They seem to do a great job of involving their customers with the brand, just from their website. For example, here is a creative print ad (below) that is a great example of Harley Davidsons culture. Harley is so big into building long term relationships with its customers. From a marketing standpoint, this should be your goal with every company you work for.
I looked at a couple of their competitors and noticed that Yamaha doesn’t sell just motorcycles. They sell atvs, dirt bikes, boats, and even golf carts. Suzuki’s homepage focused on financing and cash back, trying to draw it’s customers into purchases. I didn’t get a good sense of company culture like I did when I visited Harley Davidsons page. They also sell ATV’s and dirt bikes as well. Honda does the same, displaying ads for motorcycles, ATV’s, Boats, and new models it is releasing. Harley Davidson, Inc is currently at $47.04 on the NYSE. Honda is selling at $38.50. Harley Davidson is kicking off the riding season at Dayton Bike Week 2012. This is where they will show off their new models and build the Harley Davidson culture. Harley Davidson participates in many events throughout the riding season and you can find events near you on their website. They have demo ride events, events for women, the Laconia motorcycle ralley, the Sturgis event in August, and it’s holding Harley’s 110th Anniversary Celebration in Rome in 2013! You can visit Harley Davidson’s events page for more information.
Pinterest is a very interesting site. I like the exclusivity of the site being that you have to request to join the site and can’t immediatly sign up. I am a frequent user of the site. I like the concept of being able to “pin” anything from the web and adding it to your own board.
I also enjoy the categories you can place the boards in. This helps organize the site to easily search and find items for your boards.I would recommend this to a client, particularly companies in the fashion industry. This site is swarming with new fashion items for women and men. Companies can also link websites where you can purchase these items into the pictures. This is a great way to increase your reach and promote your brand. I can see this happening in the future as the site begins to develop more.I am not sure of any companies who are using Pinterest now at the moment, being that Pinterest is a relatively new hit. But in the future, I see many companies utilizing Pinterest in terms of online advertising and promotional campaigns just like Facebook, Twitter, and other social media sites.
Pinterest is here to stay.
Is facebook worth $100 Billion? From my perspective no, but from an advertisers perspective yes. I don’t know about you, but when I go on facebook and see the ads on the side of the page, I haven’t clicked on them once. They don’t appeal to me and haven’t grabbed my attention. Advertisers see this as a huge opportunity to reach
845 million people which is a huge target audience.
With 85% of facebook profits coming from advertising, advertisers believe that they can gain profits through this site. Facebook needs to be careful in the future and not get too greedy. If Facebook started charging monthly fees to it’s users, I would be gone. I believe many other users would agree with me on this. This is why I believe Facebook is not worth $100 Billion in the eyes of the users. Without us users, Facebook would not even come close to being valued at this amount.
In December, Coca Cola decided to change it’s marketing message with the hopes of bringing back its beloved polar bear mascot. They teamed up with the World Wildlife Fund to put on a save the polar bear campaign. They are donating $2 million to the World Wildlife Fund over the next 5 years and are matching consumer donations up to $1 million. They decided to alter the classic red and white Coca-Cola can with a fresh new white can design.
The number one problem with the new can design was the confusion it left with consumers of the product. They noticed a slight resemblance to the Diet Coke silver can. By altering the Packaging of the product, there was an obvious disapproval in
Coca-Cola consumer’s minds. The Promotional campaign was a fail for coke as they saw how consumer’s reacted to their efforts to bring the polar bear back. One month after this new campaign launch, they decided to recall the project and reissue a red version to the original can design. I think the concept of teaming up with the WWF to bring back the polar bear was genius, but they should have tested the product first to see how consumers would react to this major change in a classic can of Coca-Cola. They could have placed the product in different places to see how it would respond. For example, placement in grocery stores, convenience stores, or vending machines.
Pepsi also had a change in their marketing message with their Pepsi Refresh Campaign in 2010.
Pepsi was criticized for investing in philanthropy and a more global approach over Super Bowl Ads and America. Pepsi was giving away $20 Million to non-profits and to individuals who receive the most votes for their charity campaigns online. The purpose of Pepsi was to invest in America, which is why in 2011 they focused it’s campaign and contests on more close to home topics like the arts, music, communities, and education. This was a good way for Pepsi to respond to the negative criticism and that’s what you need to be like to keep your brand name strong. I also find the cola wars between Pepsi and Coca-Cola interesting as well. It is like they are playing a game of chess. When Coca-Cola makes a move, Pepsi needs to also to keep them in check. When Coca-Cola releases a promotional campaign, Pepsi soon follows. If Pepsi comes out with a new drink, Coca-Cola matches. It is a never ending game that helps both survive in the industry
While reading 7 Ways to Fail Big by Paul B. Carroll and Chunka Mui, I came across numerous points that were worth mentioning. The article analyzes 7 risky strategies and offers advice on how to not go down these paths. The first strategy was The Synergy Mirage. This is when two companies join together in hopes of helping each other achieve goals and objectives. This doesn’t work however because businesses don’t have the same business models or customers.
Quaker Oats acquired Snapple for 1.7 Billion dollars and sold it for 300 million 3 years later (pg.4). The second strategy was Faulty Financial Engineering. This is when a company participates in aggressive financial practices that can be misleading. The two problems with this strategy are they can produce flawed products and they encourage further hopelessly optimistic borrowing to finance more investment (pg. 4). The third strategy was Stubbornly Staying the Course. This is basically reinvesting in your firm with your current strategy in response to the market. This happened to Kodak and led to them filing for bankruptcy. You need to be able to innovate with the changing times. If a company doesn’t innovate, they cannot survive. The fourth strategy was Pseudo-Adjacencies. This is when adjacent marketing strategies build on an organization’s strengths to expand into a related business. Ogelbay Norton, which was a steel producer, tried to expand into the limestone business. They didn’t know anything about the limestone business and expected its customers to purchase this product as well. They ended up filing for bankruptcy. The fifth strategy was Bets on the Wrong Technology. Everyone is always looking for the next best invention or company that they can invest in. Motorola invested in a $5 billion Iridium satellite telephone. They filed for Chapter 11 only a year after the phone was in the market. I believe companies should take risks but do your research! The sixth strategy was Rushing to Consolidate. The problem with consolidating is you may be buying an asset, but every company comes with problems as well. For example, USAir bought Pacific South West Air and Piedmont to expand into the West.
The company tripled in size, but it’s information systems weren’t able to keep up (pg. 9). Service ended up suffering and computers broke down on paydays. Another great point was that companies might not be able to hold the same customers of a company they decide to purchase. The seventh and last strategy was Roll-Ups of Almost Any Kind. This is the idea of taking tens, hundreds, even thousands of small companies and forming one giant company with them to create power and brand recognition. Roll ups have a hard time maintaining their fast rate of acquisition. Also they fail to account for tough times, which are inevitable (pg.10). The stock price of the company needs to keep rising, other wise they cannot keep building the company. Instead debt begins to start building up leading to bankruptcy. Loewen Group owned 131 funeral homes in 1989 and acquired 135 more the next year expecting the coming “golden era of death”, which was the demise of the baby boomers (pg.10). A small decline in the death rate finished Loewen. Don’t be blinded by the idea of growing so fast that you tend to overlook the risk. Knowing these 7 strategies is a necessity to survive!
Through building up these social network sites I was able to learn the effect online media can have. By setting up my Google+ page I was able to see a very nice feature, the +1. This was a very useful addition to the site as it let people in your circles see what pages, links, pictures etc. that you are recommending. I hope to see Google+ continue to grow with it’s clean format and new technology. Twitter is a good site to utilize keywords. You can search to see what people are talking about on the site and this can be very useful for promotional campaigns for companies. My favorite profile to build was Linkedin. Your Linkedin profile is basically your online professional resume. You can follow companies and learn about new positions that they post in the career section of their profile on Linkedin. A very convenient application is the ability to apply for positions right on the website. This is a great way to network and communicate with recruiters and even CEO’s of companies.
I decided to create a Tumblr to add to my blog arsenal. I found that you were able to customize the blog layout into whatever you wanted. Thedashboard is a very organized way of showing you how to post. You are able to post words, pictures, links, reblog others, and set a custom background. Also, you can add a background playlist for music using outside applications.
I am currently taking an Adv 420 course in hopes to obtain my New Media Drivers License. We had an 8 hour class in Novi at Walsh College today where we learned about new topics such as: Online Marketing, SEO practices, Google+, Google Adwords, and Advertising. I’m hoping to enhance my skills with social media platforms and turn this into a career.
Everyone needs to take this course some time in their life. #NMDL