In today’s business environment, there has been an increase in the number of businesses who have become Certified B-Corporations, or B-Corps. In order for a B-Corp to be successful in fulfilling its specific social and environmental missions, they must also be successful in turning a profit. And in order to attract investors, customers, and other important partners, a B-Corp must have a strong marketing team to convey what differentiates their business from other for-profit competitors.
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 100 years, The Walt Disney Company (Disney) has been delighting generations of people across the world with their creative and emotional storytelling and their sense of magic that can be found in all aspects of the company, from their theme parks and cruise ships to their consumer products. Disney has become synonymous with dreams, hope, and innovation. Anniversaries serve as a prime opportunity for companies and organizations to reflect on and share the history of their company, while also marketing the upcoming new projects of the future. For a company as influential and wide-reaching as Disney, how do you pack 100 years of magic, memories, and branding into one cohesive celebratory campaign? Let’s take a look and see just some of the ways that Disney is telling their story in whole new ways utilizing their marketing strategy.
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.
With the introduction of ChatGPT in November 2022, questions surrounding the use of artificial intelligence (AI) have risen in every industry, including what might be the best ways to utilize these emerging technologies. For marketers, AI software can help generate ideas, develop strategies, and optimize campaigns to make our jobs a little easier. These benefits, however, do come with some drawbacks, making marketers cautiously optimistic.
In modern marketing strategy, a large focus is placed on acquiring new customers. In fact, a recent research survey showed that 72% of small businesses planned to use the majority of their marketing budget to try to attract new customers as opposed to marketing new benefits and products to their existing customers1. However, expanding a company’s customer base does not always equate to business growth. Recent studies have shown that building loyalty with existing customers is equally important, as existing customers tend to be more profitable.
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.
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.
Influencers can be an integral part of marketing strategy, particularly for firms selling consumer products, but even B2B firms have successfully used influencer marketing to appeal to customers. When firms use influencers, they often showcase relevant product or service content through concise social media posts, videos, advertisements, or blogs. One of the best ways to inform customers about and promote products and services online is through a mix of influencer marketing and content marketing.
Marketing Management 