International trade policy issues, tariffs, and changes in consumer behavior have presented challenges to trade for U.S. businesses in the last few years. Many firms are analyzing supply chain alternatives and attempting to bring production closer to home in order to mitigate tariff obstacles, promote brand loyalty, and consider the increasing desire for American goods. However, branding “Made in America” has its pros and cons and requires effective strategy and communication. [1].
With the COVID-19 pandemic preventing opportunities for travel, the travel and tourism industry has seen the rapid emergence and growth of several travel trends as people can now follow-through on their vacation dreams and book trips. These trends include traveling to see a concert, making more sustainable vacation choices, and looking for unique, once in a lifetime trips as opposed to more common and mainstream tourist destinations. This last trend has led to an increase in “surprise travel”.
In today’s competitive media market, entertainment companies seek to utilize existing intellectual properties that already have a proven and dedicated audience, and then expand those stories and characters, for example, through sequels, remakes, or TV show spinoffs. Another example of this strategy that has been gaining popularity, is taking popular Broadway musicals and turning them into movie musicals. Despite many of these Broadway musicals having passionate fanbases, these movie musical adaptations of the past decade have been met with mixed reviews and varying levels of success.
Current disengagement and uncertainty with indirect, mass media marketing is leading towards many companies incorporating event marketing and experience-based marketing as part of their strategy. This is especially pertinent to companies who want to capture the millennial and Gen Z audiences, as these demographics have proven to respond better to experiential marketing over traditional marketing techniques. One big example of this can be seen with music festivals and concerts, as recent studies have shown that billions of dollars are spent annually by brands on advertising their products at music festivals.
Summer has always been an important season for the entertainment industry, specifically in regard to movies. The summer box office season, which begins in May and lasts through early September, sees the highest number of blockbuster movies be released into movie theaters, as all major studios strategically send the movies that they think will draw the highest number of people to theaters and, therefore, gross the most money. These summer blockbusters tend to rely on some form of recognizable namesake to draw viewers; for example, the name of an A-list actor starring in the cast, the name of the movie being associated with a successful or nostalgic franchise, or the name of the studio being enough to draw fans of that brand to see their newest work.
One of the most powerful entities for a marketing department is data. For a business, having data on their customers and their prospective buying habits can impact how the business markets their products and services. Today, the constant advancements in technology have made it easier for companies to collect large amounts of data ranging from customer demographics to customer satisfaction.
Viral marketing may seem appealing – but it’s not exactly simple. Though there are no hard and fast statistics, the chances of content going viral are very slim. There are 2.6 billion users on Facebook – that’s 2.6 billion potential impressions for content shared on the platform. But how do marketers reach them?
Here’s an easy question: did you listen to music on your phone or another streaming device in the last few days? How about a podcast? If you listened to one recently, you are a part […]
Any music festival-goes knows that maintaining their body with fuel during the event is a chore. In the midst of planning out logistics for when to see your favorite bands (and when to get to […]
With the advent of technology, people’s socials lives are now highly accessible online. In the same vein, due to this sharing on social media people can now readily identify when their social lives are lacking. […]
Marketing Management 