“It’s tough to make predictions, especially about the future” is a quote usually attributed to Yogi Berra. Of course the challenge doesn’t stop some people and organizations from trying. In fact, that is the job of an organization like JWT Intelligence. This video summarizes “ JWT’s 10 Trends for 2014 and Beyond. “ Marketing managers often seek to get a jump on their competition by predicting future trends: What colors will be hot this year? What flavors will appeal to customers? What cultural trends are likely to influence demand for my products? If JWT Intelligence is right, what new product ideas might take advantage of one or [Continue Reading …]
New York Times reporter Michael Moss went to advertising agency Victors and Spoils with a challenge: How would you get people to want to buy and eat broccoli? What would your campaign look like? What would the message be? What would you do that all the well-intentioned government-funded campaigns have failed to do for generations? The result was an extended story in the New York Times Magazine section “ Broccoli’s Extreme Makeover ” (November 1, 2013) — a story that provides a great marketing case study. Even though the campaign was never actually implemented, the article and video provide some insight into the [Continue Reading …]
Most marketing managers look for ways to get us to use more of their products. On the other hand, many power companies have programs designed to help consumers become more efficient users of energy — to use less electricity, gas, etc. This is good for consumer budgets, better for the planet — and with some regulatory incentives, it can be better for utility companies as well. This recent Wall Street Journal article, “ The Efficiency of Social Pressure ” (September 5, 2013, non-subscribers may need to click here ) describes utilities hiring behavioral scientists to learn how to encourage customers to be more prudent energy consumers. The article notes the inefficient use of [Continue Reading …]
Campus Cooks has developed a business preparing food for fraternities and sororities. This article at Bloomberg Businessweek “ Campus Cooks Aims to Supply Good Food to Greek Houses ” (May 16, 2013) shows how Bill Reeder developed this successful company. I like that the article shows how Reeder drew upon his own college experience to identify a need. This is an example of consumer needs and product/service that our students can relate to. Think about your college experience. What needs have you observed that might be filled by a creative entrepreneur?
Across the globe, each year diarrhea and pneumonia claim the lives of 2 million kids before they reach age five. Research shows that regular hand washing with soap significantly cuts the the risk of diarrhea, respiratory infections, and eye infections. Lifebuoy soap adopted the Indian village Thesgora, with a plan to demonstrate how changing hygiene habits helps reduce these deadly childhood diseases. The video gives some background. You can also check out Lifebuoy’s Facebook page to keep monitor the campaign. Ultimately Lifebuoy hopes that by calling attention to this issue and working closely with NGOs and governments, it can change the handwashing behavior [Continue Reading …]
Mattel’s Hot Wheels have a mom problem. Many toy purchases are made by mothers. Moreover mothers often (and more frequently than fathers) supervise their children’s playtime. But many moms don’t understand “car toys” like Hot Wheels. On the other hand, according to Mattel research, moms have a pretty good feel for action figures. I guess that Batman and Buzz Light Year action figures are a lot like the dolls most moms played with when they grew up. Consequently, moms are being blamed for three years of flat sales of Mattel’s big three car toy brands (Hot Wheels, Matchbox, and Tyco [Continue Reading …]
Retailers have become increasingly savvy in their merchandising strategies. These two slide shows are designed to show consumers how to save money at two of America’s most successful retailers. They also offer insights into the sophistication of today’s retailer. These examples should be particularly relevant because many of our students shop at Target — and probably aspire to shop more at Whole Foods. See “ How to Shop Target Like a Pro ,” (January 3, 2013) and “ Whole Foods Cracked ” (November 21, 2013). We have also posted these at Learn the 4 Ps . What other tricks of the trade have you seen at Target? Whole Foods? What other retailers have impressed [Continue Reading …]
Timothy Prestero shares a very interesting story of design and innovation at TEDxBoston. He describes his company’s efforts to design incubators for newborn babies in developing countries. They thought they had it figured out, their product won awards but it didn’t save babies. The lessons Prestero shares are especially powerful in the context of his experience.