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.
For marketers, there is one important question that is constantly on their minds: how do we stay relevant?Relevancy is paramount to a company’s success. If an organization is no longer relevant, it is no longer on the forefront of consumer’s minds. In today’s competitive business environment, customers can only realistically choose between so many options.
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.
The saying “out with the old and in with the new” no longer seems like a relevant turn of phrase as the past few years have seen a resurgence of repurposing old goods and bringing back old styles. For some consumers, secondhand goods are better than anything new. Everything from rare collectibles to couture gowns and one-of-a-kind purses are in high demand with apps like Depop, Thredup and, of course, local thrift stores fueling access to some of these items. These trends reflect generational preferences for sustainability, corporate social responsibility, and individuality that will be relevant to marketing strategy in 2023.
What is SEO marketing? Why is it important? With “67,000 users perform[ing] a Google search every second of everyday,” people have a heavy reliance on the internet for accessing information, communicating, and performing business transactions. Search engine optimization (SEO) is an essential digital marketing strategy for all businesses to increase revenues and gain the attention of customers. It allows businesses to optimize their websites for search engines like Google in order to improve their customers’ experience and their own bottom line.
Known for their tradition and scientific method to pouring the perfect pint, Guinness has mastered product differentiation and strategy. The successful brand originating from Ireland operates globally, brewed in over 60 countries and available in over 150. With a diverse range of products, packaging, and labelling, Guinness sets an example to marketing managers promoting consumer products internationally. By adjusting their products to suit the trends and preferences of different markets, Guinness has been able to appeal to a variety of consumer tastes for over 260 years.
Virtual reality and augmented reality are poised to become the next phase of internet consumption. With companies like Nike and Roblox taking advantage of new forms of marketplaces, the possibilities for innovation in digital consumer experience are endless. Catering to the expectations and values of Millennials and Generation Z consumers will be key to the success of the virtual world, the metaverse. Nikeland on Roblox is a prime example of marketing personalized experiences to Gen Z consumers.
In the world of Spotify, Pandora, Apple Music and Apple Podcasts, it would seem that radio is in trouble. The industry, which is heavily reliant on advertising dollars, experienced a 4% decrease in revenue over the past five years. Despite this decline, insurance and real estate companies still spent approximately $257.7 million on radio advertising in 2019. In 2020, Progressive launched the “Sounds of the Old World” radio advertising campaign, which may help prove that radio is not as dead as one might think.
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