The Pepsi Generation: How To Reinvent Your Brand
Starting in the early 1980’s and lasting well into the 1990’s, the Coca-Cola Company and Pepsi Cola engaged in what would be called the “cola wars.” While to the average consumer, the cola wars meant being blasted with Pepsi and Coke commercials and billboards, while to both the companies it was a pivotal point from a branding aspect. On one side, Coca-Cola dominated the market when it came to soft drinks while on the other, Pepsi Cola was trying to build brand awareness with consumers. Coca-Cola, who had been around since 1886, had built a strong brand with consumers and was well known around the world. Pepsi on the other hand, while large and well known, struggled to put a dent in the mind of buyers when it came to choosing Pepsi over Coke. While one could make the case that Pepsi should have been happy with the market share that they had, one must remember that the most successful brands today aren’t the ones that are ‘content.’ In the case of Pepsi, the Pepsi Generation advertising campaign and it’s subsequent advertising ploys helped shape the Pepsi brand we know today. (more…)
What Every Marketing Student Should Know
Although listed as one of the 10 most popular majors in an article by CNN and CareerBuilder.com, marketing continues to have an ever changing definition. For example, if you ask a freshman what marketing is and compare it with someone who is about to graduate and you are mostly likely to get two completely different answers. The reason for this isn’t that they haven’t been educated properly. Rather, it’s that ‘marketing’ itself changes everyday. What would be considered ‘marketing’ one day, may be considered something different the next. In very few career paths do you see such dynamics which is why many students with a marketing degree end up in jobs and positions they didn’t ‘expect.’
While a marketing student who is reading this may jump at this and say that they aren’t one of those people who don’t know what marketing is, the reality is that if what you know about marketing is from the definition you read in textbooks, you really don’t marketing is. (more…)
The Athlete Versus The Brand
When you look at the above advertisement, you will find two elements: the athlete and the brand. While individually, they each represent something different, together they unite to form one singular message. Although the message is now singular, the question though is which message connects with people the most. Is it the athlete or is it the brand? Some may answer that the advertisement doesn’t favor one side more than the other, but athletes for the most part have been the centerpiece of sports marketing campaigns and continue to be the centerpiece for global sports brands. (more…)
Marketing: The Art Of Balance
What draws in the attention of crowds and audiences when watching an ice skating performance is the ability of the performer to tell a story through their actions and motions in fluidity, while at the same time retaining perfect balance. In similar regards, this ‘balance’ is one that can be the difference between a good marketing campaign and a great one.
To understand the many dimensions and angles that marketing campaigns consist of, we would need chapters rather than articles to fully understand them. Still, understanding the art of balance in regards to marketing is a fairly simplistic concept. (more…)
Marketing: Why You Must Continue To Change
5 years ago, marketing through online branding was considered far fetched at best. The concept was raw, and the number of companies using it scarce. Today though, blogs, social networking profiles and online advertisements have become almost standard practice when it comes to marketing. The question now becomes “what brought about the change?”
The answer to this lies within the question: Change.
We must always remember that although ‘change’ can be a frightening concept, ‘change’ has helped us improve our quality of living, helped us make new discoveries and in some cases, been a beacon for hope.
When it comes to marketing, change can be scary, exciting and rewarding. What’s important is that we always remember that change is inevitable. (more…)
How Services Marketing Can Save Your Business
Do you know your customer? That is the question that every business owner should ask themselves. If your response is something along the lines of “sort of” or “not really,” then now is the time to change that. With companies struggling to find new ways to attract customers, most businesses are missing an essential aspect to it all. Without fully understanding one’s customer, developing new products and marketing campaigns are futile. One cannot expect to be successful without being able to understand their target market.
While companies invest millions into their advertising and marketing campaigns, the biggest area that fails to receive appropriate attention is services marketing. Services marketing examines the relationship between the company and its customer as well as the quality and value that the customer experiences. While many may believe that this is just a small part of a larger picture, evidence shows that services marketing is playing a much larger role in the success and failure of companies. (more…)
Understanding Your Personal Brand
One of the most common questions asked in interviews is: “Tell me about yourself.” While many may believe that this question is meant to tell your interviewer general information about yourself, the interviewee’s response can be a make or break in the interviewers mind.
In evaluating a candidates response, among the criteria that interviewers evaluate are a candidates composure, their readiness, and above all their understanding of themselves. To someone who has never met you, when they ask you to tell them about yourself they are not asking you what classes you are studying or what your favorite color is, but rather they want to walk away knowing what kind of person you are. If you tell your interviewer that you are studying history, they want to know why you are studying it. Is it because you are passionate about it or because you didn’t know what else to study? Remember that it is not only your initial response to a question, but it is also how you follow up your response.
As mentioned, it is important to an interviewer how well you understand yourself and if you can express it to others. While it may seem like an easy question to answer then why do so many people have trouble answering it? Everyone can say general information about themselves but it takes more. This is where your personal brand comes into play.
When people think of Pepsi, they think of the red, white and blue logo and the drinks they produce . When people think of the Yankees, people think about their commitment to winning as evident by their expensive spending sprees. Just like with the examples of Pepsi and the Yankees, candidates need to build their personal brand to the point that when people think of them in a career sense, candidates can be associated with certain qualities or as a brand.
One of the best ways to start building your personal brand is to start with a blog. While some may think that a blog is supposed to be private and to be shared with only your very close friends, being comfortable with expressing your thoughts and views is what can make your blog a powerful tool in branding yourself. With a blog you will be able to network with others and let others know who you are and what you do. By finding your ‘niche’ through your blog you can use it as reference to employers and interviewers as proof of your knowledge of whatever career path it may be.
So when is the best time to start?
As soon as possible. Personal branding is not a one day project. It takes time to build the foundation of your personal brand. After successfully building up your personal brand or foundation, you can move on to networking with other professionals and peers through the various social networks available. For the college student getting ready to start recruiting for a job, you may have already started building your personal brand without even knowing it. Websites like Twitter and Facebook are great ways to network with others and build solid relationships. By networking with others you are not only giving yourself the chance to get your name out there but also you are able to get great advice and insight from other professionals.
After building up one’s personal brand, an individual should no longer be unsure of how to answer the question “tell me about yourself.” So what are you waiting for? Get out there and make a name for yourself!
The Tiffany & Co. Investment
Since 1837, Tiffany & Co. has been one of the most famous jewelers in the world. From their trademark Tiffany blue to the white ribbons that adorn their gift boxes, Tiffany’s has established themselves as not only a leader in the fine jewelry market but also as an example of a company that is able to increase the value of their products through effective marketing and attention to detail.
Evolution of Tiffany & Co.
Starting in 1837, the color Tiffany Blue was born. Little did Charles Tiffany know that Tiffany Blue would eventual grow to become an iconic color and become such a big part of fashion culture. Looking at the evolution of Tiffany & Co., we can see its evolution from being an exclusive high end jeweler to an affordable yet classy destination for anyone looking for that special piece.
Living in Los Angeles, one of the spots that Los Angeles is known for is Rodeo Drive. From Gucci and Prada to Chanel and Burberry, Tiffany & Co. is one of the most famous spots of Rodeo. When going to Rodeo you understand what people mean when they say that Rodeo is in its own little world. Expensive cars to display windows that could rival a decorative museum exhibit, Rodeo is a known for its high end stores for those looking for the high end lifestyle. Still, while Rodeo may be assumed to be for those with high disposable income, it is not necessarily true. Tiffany & Co. has been able to evolve itself from being for the rich and famous, to anyone who wants own a timeless piece of jewelry.
From the young to the old, Tiffany & Co. has been able to accomplish what other companies can only wish for. Tiffany’s has been able to attract not only one target market segment but rather target nearly all market segments. No matter what the age, Tiffany’s has something for everyone. Now the case could be made that while this may apply to only females and that it doesn’t really apply to males. To this I would counter that Tiffany’s offers men’s jewelry as well. Whether you are looking for a money clip to a stylish watch, Tiffany’s appeals to both sexes. Through effective marketing strategies, Tiffany appeals to both sexes through their catalogue and through the universal appeal of their website. The Tiffany’s website is an essential part of the Tiffany’s marketing campaign as any customer can easily find the approriate gift by the multiple search categories and specifics that a customer can provide.
The first time I bought a Tiffany’s piece was during my senior year of high school for my girlfriend. The one thing that I remember distinctly is that Tiffany’s is not only selling you jewelry, but it is selling you an experience. This experience is what makes people want to buy Tiffany’s. By buying a Tiffany’s piece you are buying piece of culture and art. The service marketing side of Tiffany & Co. can only be described as striving to near perfection.
I have found that not only are Tiffany pieces a great gift, but they are also unique in an economic sense. Like rare baseball cards and classic cars, some Tiffany pieces actually gain in value. Taking a look at the several Tiffany pieces that my girlfriend has, most if not all are sold at a higher price than they were previously purchased at. This can be attributed to many things. Among them are the limited amount made per piece as well as certain pieces being made for certain occasions. By buying something from Tiffany & Co. you are also buying into an investment.
Audrey Hepburn from Breakfast at Tiffany’s said it best when she was asked what she does when she gets afraid of something.
Well, when I get it, the only thing that does any good is to jump in a cab and go to Tiffany’s. Calms me down right away. The quietness and the proud look of it; nothing very bad could happen to you there. If I could find a real-life place that’d make me feel like Tiffany’s, then – then I’d buy some furniture and give the cat a name!
Whether you are looking to invest a relationship, a future, or just looking for jewelry, buying a Tiffany & Co. piece means you investing a piece of culture.
Services Marketing: How Disney Got It Right
In the realm of services marketing, their are companies that don’t have any idea what they are doing, and then their are those that just get it and do a great job. Among those that got it right is Disney and the experience of guests at their parks. For the past 50 or so years, Disney has established itself as one of the leaders of the entertainment world. From their iconic “mouse ears” to their ability to crank out musical child stars such as Britney Spears and Christina Aguilera, Disney has always been associated with providing the best in entertainment.
But how does Disney do it?
Their are many reasons as to why Disney has become so successful, but among the major reasons for their success is their attention to services marketing. Disney believes in providing the customer or guest the best experience they can possibly have. For example, when entering a Disney theme park, guests are not just entering an amusement park, they are entering a ‘magical place’ as is the motto in the photo above. Disney believes in making every effort to make the guest feel like they are part of something special. Disney even addresses there workers as ‘cast members’ not employees.
Not only does Disney pay close attention to its customers, but Disney also does a great job with there servicescape.This is an important detail that all businesses should think of. When a customer is going to your store, the customers first interaction with your business does not start when they enter the store, but when they first see it. Having the appropriate setting and physical environment has a direct correlation to the experience the customer has. Looking at Disney, not only do they ’say’ that you will have a magical day, but the setting and decor make you feel like you are.
Going back to the role of the Disney cast members, they play one of the most vital roles in their parks. Not only are they necessary in the day to day operations of their parks, but cast members are important in the personal interactions with guests. Most guests would agree that they have had positive experiences with Disney cast members. One of the ways to assure that the quality of the service being provided by employees is at its best is to implement a good training program that will allow employees to not only learn basic operations but also to learn the company culture. Employees that understand the company culture will be able to better serve the customer.
While Disney is a great example of a company that understand the importance of services marketing, some companies still don’t. Many will tell you that it just costs too much to train and put in the time to make sure they are doing a good job. In all honesty, this is true. It is also true that it costs more money to acquire a new customer than to retain one. Also, that an angry or unsatisfied customer will tell on average 12 people negative things about your business and happy customers will tell 5 people positive things. In the end it may come down to a numbers game and what is most cost efficient, but companies should remember that while the motto “customers are always right” may not always be true, it doesn’t mean you shouldn’t try and provide the best service possible.
