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Global Marketing

Studying INSURANCE- Team I’s got your back…

Hello fellow classmates,

Now that we're in the home stretch for Marketing Management, with a strategic marketing plan, presentation, AND exam this week, you may be short on time. So, Team I would like to share with you: All you need to know about marketing in 88 words

Best of luck in the days ahead!

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Global Marketing

Team Interesting! – 1996 Taco Bell Marketing Strategy Pays Off

Hello all!  Today I am going to retell a marketing strategy that Taco Bell implemented in 1996 to drive up sales for a brief period.

On the morning of April 1st, 1996 an ad was placed in the New York Times with a headline that stated the following: “Taco Bell Buys the Liberty Bell.”  In this article Taco Bell stated, “We are pleased to announce that we have agreed to purchase the Liberty Bell, one of our country’s most historic treasures.  It will now be called the Taco Liberty Bell.”  Taco Bell had also explained in this article the Taco Liberty Bell will still be accessible to the American public for viewing.  Also, “While some may find this controversial, we hope our move will prompt other corporations to take similar action to do their part to reduce the country’s debt.”  When I first read this part the first question that popped into my head was did we even have much debt in 1996?  Anyway, back to Taco Bell.  Taco Bell had explained that people have been adopting highways for years and that purchasing a national treasure was just a new way of furthering that idea.  Within hours of this article being released thousands of upset Americans called in complaints to the home of the ‘Taco Liberty Bell’ located in Philadelphia.  By noon of that day Taco Bell had admitted to what many people had suspected which was that this was an April Fool’s joke.

With all this being said more than 650 print media outlets and 400 broadcast networks covered this prank reaching more than 70 million Americans nationwide.  That day Taco Bell’s revenues increased by more than $500,000 and the following day by more than $600,000. When the Whites House’s spokesperson Mike McCurry was asked about the Taco Liberty Bell he commented that the Lincoln Memorial had been sold and now would be known as the Ford Lincoln Mercury Memorial.  I liked this part because it is nice to see a politician with a little humor.

Overall, Taco Bell took a little risk on this April Fool’s Day but it ended up paying off by giving them a short boost in company sales.

Categories
Global Marketing

More from Team “I”- INGENIOUS Ads

It has been said that “creative without strategy is called art; creative with strategy is called ‘advertising’.” The recently published book, “D&AD 50” celebrates the last half century of commercial creativity.

D&AD (Designers & Art Direction) began in 1962 when a group of…you guessed it, designers and art directors came together to celebrate creative communication and raise standards within their industry. D&AD is comprised of individuals from the creative, design and advertising communities from around the world. The group holds an annual awards event, presenting winners with the coveted “Yellow Pencil”. Even rarer, some entries are so outstanding that they receive a special “Black Pencil” award.

The annual D&AD Awards are recognized throughout the world. They establish an “absolute reference standard for creative excellence”. By studying the award recipients featured in D&AD 50 it becomes abundantly clear that there is no one characteristic that makes an ad successful. Each of the highlighted ad campaigns are unique in their own right, however they all do an excellent job of being memorable. And isn’t that, after all, what it’s all about?

Advertising creative director Bill Bernbach once said, “nobody counts the number of ads you run; they just remember the impression you make.” What ad campaign has made an impression on you???

One of my favs would have to be the this one from Dos Equis! The ad campaign quickly turned into a pop culture phenomenon as a wave of spoof videos hit the web.

Share one of your favorites below! Who would you nominate for a prestigious “Pencil” award???

Categories
Global Marketing

Cross Cultural Marketing Mishaps

Good afternoon EMBA class of 2014. After going with many of my fellow classmates and spouses this weekend to South Coast Repertory to see the play Chinglish it inspired me to create a blog on cross cultural marketing mishaps.  For those of us that have seen Chinglish the examples below reinforce the importance of working reputable firms that have a great understanding of both their own cultural as well as the one they are interpreting for.

Please read the ten examples below and let me know think!

  • Locum is a Swedish company. As most companies do at Christmas they sent out Christmas cards to customers. In 1991 they decided to give their logo a little holiday spirit by replacing the “o” in Locum with a heart. You can see the result..

Capture

  • The Japanese company Matsushita Electric was promoting a new Japanese PC for internet users. Panasonic created the new web browser and had received a license to use the cartoon character Woody Woodpecker as an interactive internet guide.The day before the huge marketing campaign, Panasonic realised its error and pulled the plug. Why? The ads for the new product featured the following slogan, “Touch Woody – The Internet Pecker.” The company only realised its cross cultural blunder when an embarrassed American explain what “touch Woody's pecker” could be interpreted as!
  • The Swedish furniture giant IKEA somehow agreed upon the name
    “FARTFULL” for one of its new desks. Enough said..
  • In the late 1970s, Wang, the American computer company could not understand why its British branches were refusing to use its latest motto “Wang Cares”. Of course, to British ears this sounds too close to “Wankers” which would not
    really give a very positive image to any company.
  • There are several examples of companies getting tangled up with bad translations of products due to the word “mist”. We had “Irish Mist” (an alcoholic drink),
    “Mist Stick” (a curling iron from Clairol) and “Silver Mist” (Rolls Royce car) all flopping as “mist” in German means dung/manure. Fancy a glass of Irish dung?
  • “Traficante” an Italian mineral water found a great reception in Spain's underworld. In Spanish it translates as “drug dealer”.
  • In 2002, Umbro a UK sports manufacturer had to withdraw its new
    trainers (sneakers) called the Zyklon. The firm received complaints from many
    organizations and individuals as it was the name of the gas used by the Nazi
    regime to murder millions of Jews in concentration camps.
  • Sharwoods, a UK food manufacturer, spent 6 million pounds on a campaign to launch its new ‘Bundh' sauces. It received calls from numerous Punjabi speakers telling them that “bundh” sounded just like the Punjabi word for “arse or ass”.
  • Honda introduced their new car “Fitta” into Nordic countries in 2001. If
    they had taken the time to undertake some cross cultural marketing research
    they may have discovered that “fitta” was an old word used in vulgar
    language to refer to a woman's genitals in Swedish, Norwegian and Danish. In
    the end they renamed it “Honda Jazz”.
  • A nice cross cultural example of the fact that all pictures or symbols are not interpreted the same across the world: staff at the African port of Stevadores
    saw the “internationally recognised” symbol for “fragile” (i.e. broken wine glass) and presumed it was a box of broken glass. Rather than waste space they threw all the boxes into the sea!

 

 

Categories
Global Marketing

An INTRODUCTION to Team “I”

Hello, we’re Team “I”- nice to meet you! We’ll be bringing you various INTERESTING articles to discuss IMPORTANT topics in the world of marketing. We’re looking forward to some INTERACTIVE conversation and hope you have an INCREDIBLE time visiting our blog…

Family INCORPORATED

So, you check your schedule and see you have an afternoon meeting, a brainstorm session on branding. Nothing peculiar about that. Just an average day at the office. But this isn’t the office. The meeting location is your kitchen table and the attendees consists of your family members…

The Wall Street Journal recently published an essay on the benefits of running a family like a business. And why shouldn’t you apply workplace solutions to the challenges families face in the home?

The general belief is that many companies fail if the make up is one or two charismatic leaders, but the others in the company don’t understand or practice the company’s core values or make decisions based on the company’s brand. This new practice engages all family members and gives them a seat at the decision table.

Families are using a progressive program called “agile development” that has quickly spread from manufacturers abroad to startups in Silicon Valley. It's a system of “group dynamics in which workers are organized into small teams, hold daily progress sessions and weekly reviews”.

These group dynamics move away from the “waterfall approach” of management, where orders come from the top down. It is more of a collaborative process, where decisions are made after group conversation where all parties get to weight in. Gone may be the days of the age old parental response, “because I said so!”

Jim Collins, the author of renowned business strategy book “Good to Great, points out that great organizations “preserve the core”. He encourages families to develop a mission statement and using the statement as a foundation for decision making for all members of the family. Children can then work their way through problems and base decisions on how the solution relates back to their family’s unique brand. It creates a “touchstone” for the family and is a great way of highlighting what the family is doing right.

If your family had a brand, what would it be??? Would you be open to drafting a mission statement with your family?