IMC Hawks Blog

Blog

  • What’s all the fuss about?

             So what’s all the fuss about on Wall Street? Oh wait, you haven’t heard? Not surprising. The major media outlets have all but ignored the events taking place in their own back yard. For almost three weeks, thousands of people have converged on this eight-block-long stretch of asphalt and skyscrapers in lower Manhattan. For what purpose, you ask? That answer remains a bit unclear. Some explanations offered by the media include: the downfall of capitalism, an end to corporate tax incentives, world peace, racial justice, freedom for prisoners, and a slew of others issues boldly displayed on signs and posters covering every inch of usable space.

                                     Image: Occupy Dallas protest

            Only in the last few days have  the demands from the protestors have become somewhat understood, although their presence in the city has cost Mayor Bloomberg two million dollars in police overtime alone. When you consider the damage to local businesses from lack of access, the burden of cleaning up behind thousands of unruly campers, the inevitable strain on the judicial system from the ever-growing number of arrests, and a multitude of other factors the price of these shenanigans is certain to be staggering. So where is the media coverage? Just now are we beginning to see headlines addressing this controversy. With the addition of several powerful workers unions and a handful of celebrities taking up the cause, we are beginning to formulate a picture of the reason for the last three weeks of frustration. A decade of costly foreign war, millions of Americans out of work, skyrocketing foreclosure rates, and the disappearance of stock portfolios and pension plans galore are all contributing factors. Americans are angry and apparently it’s time to show it. But why go through the trouble of protesting if you are not even marketing your purpose?
           No one is blind to the problems we face as a nation, yet the solution seems beyond reach. Take to the streets or take to the polls? No matter what you choose, if no one knows what you are fighting for, you are wasting your time. You could have the best idea or the most sensible solution, but ultimately it’s about marketing your idea clearly that determines if you will make any difference at all.

    -Claire Dillard, LaPuasa, Reinhardt

  • A World Without Jobs

    When you think of the economy, you think jobs. When you think of the current status of the economy of the United States, you think “we have no jobs.” But, have you ever thought about a world without Jobs?

    Just over a month ago, the CEO of Apple Inc., Steve Jobs, stepped down from his position as the head of one of the most powerful companies ever to exist. Amidst health issues, Jobs resigned from his job as possibly the most brilliant and innovative software developers and business man of all time. When this happened, Apple enthusiasts’ around the world stopped to ask themselves, “what will Apple be like with no Jobs?”

    Just a little over a month ago, we considered Apple to be at a loss for losing Jobs, yet now the entire World is grieving over the passing of Steve Jobs. Yesterday, the 56 year-old mastermind behind the Macintosh Computer, the iPod, iPhone, and the iPad, passed away ending his battle with a rare form of pancreatic cancer.

    While we sit and listen to our iPod’s and play Angry Birds’ on our iPad’s and call our friends from our iPhone’s, we have a piece of Steve Jobs with us. While much of the nation remains unemployed and our economy’s fate is unknown, we can be at peace knowing we got to experience Jobs before he was gone.

    — Jordan Hill, Michela Noreski, Ashley Nelson

  • When the Going Gets Tough the Tough Get Going

    Although the economy is looking brighter than it has been in recent years, the marketing world is still facing two major problems: people are still feeling the effects of lay offs and are not quite in the position to spend money frivolously and companies are also feeling the wrath of the economy and don’t have the money to spend on expensive and elaborate ad campaigns. So what are they doing in order to get their message out? An age old trick in the marketing books and what most of us in IMC like to call, guerrilla marketing.
    It is more important than ever for companies to make their brand stand out and to develop loyal consumers who are actually able to come in contact with the brand. Guerrilla marketing provides both local and national companies that opportunity and gives them the chance to break though all the clutter and noise of traditional marketing.
    We all are familiar with the game Clue, right? Well take a look at how they are using guerrilla marketing to remind all of us of a favorite childhood game.

    And Clue isn’t the only one hopping on this train. Many companies and non-profit organizations are increasing their guerrilla marketing strategies in order to save money and gain direct contact with their consumers. What this innovative strategy and the downing economy have in common is that it’s forcing a lot of us to do something we haven’t done since elementary school: think outside of the box.

    -Alaethea Hensley, Jessica Kingman, and Lauren Phelps

  • Losing balance during tough economic times

    In the current economic climate, corporate mergers and takeovers are happening frequently for many reasons.  Many companies cannot afford to stay afloat, while others have shareholders wishing to maximize profits.  Either way, we are seeing the rapid consolidation of businesses everywhere.  To some, this issue is not bothersome at all, but to others, who worry about monopolies, corporate competition and consumer sovereignty, there is great concern and confidence is slowly starting to vanish.

    Today, while driving down the streets of Wilmington, NC, we noticed that two banks have changed names within the last year.  Both banks were native to the Southeast, and one even shared its name with our state.
    Some customers identified those banks as area staples, since they were both based in the Carolinas, but now one is owned by a company from California, and one by a company from New Jersey.  In a snap, two banks from our region, gone and without a trace.

    Though many experts rightfully argue to the contrary, we have been hearing in the news that hefty government spending has led to our monstrous national debt and deficit, and that we must rely on private sector spending to spark the economy.  But private sector spending only takes place when consumers are confident that the markets are stable, otherwise, they hold onto their money in preparation for downturn.  When you notice familiar companies disappearing and being replaced by institutions from across the country, do you feel that all is well with the economy?  Probably not, which is why we ask: Why didn’t the companies retain the banks’ original names?  In our opinion, we do not feel like the world looks highly on only a few corporations controlling the majority of an industry.  In addition, the loss of thousands of jobs due to the takeover of a certain investment bank by the largest financial institution in the world is still fresh on the minds of many even though it happened almost four years ago.

    From an IMC standpoint, we understand that companies try to communicate consistent messages for branding reasons to encourage familiarity, but in this case, it may have been more important to keep things close to the way they were.  Some consumers are not welcoming to change, and others know that consolidation is indicative of a bad economy; therefore, they may not want to spend their money.  Could keeping old names around despite new ownership benefit consumer confidence?

    -Stephanie Bakolia, Claire Outlaw, David Glaubach

  • The Real Cost of Advertising

    Our economic troubles are hurting deeper than the punch from the gas pump, bruise from increased tuition costs, and stabs from the job market. These economically challenging times are also abusing the fundamental business principles that companies have relied on for years. In particular, these bad financial times are changing the way advertisements are valued.

    Many companies assume that when they are affected by hard economic times, it is best to pull the plug on various advertisement campaigns as a way to cut marketing costs. However, this kind of penny-pinching seems to only make the struggling financial situation worse. According to a study prepared for American Business Media by Yankelovich Partners and Harris Interactive, businesses who continue to run ads have a significant competitive advantage over those who choose to cut back.

    Simply: there is a value to spending money on advertisements, regardless of economic struggles.

    Darwin’s theory of “survival of the fittest” has never been so true in today’s economic downfall. Companies cannot risk pulling their advertising from the marketplace if they want to remain in the thoughts and minds of consumers. If only the fit survive, then a company should use aggressive advertisements and marketing strategies as a way to not only reach their audience, but to intimidate the competition. The continuation of building clientele through running advertisements establishes an image of loyalty, faith, and stability a company has in their product or service to the consumer. If the advertisements get pulled, then so will the opportunity to reassure to consumers that the company is prospering despite the economic hardships.

    If a company is facing the decision to pull advertisements as an attempt to adhere to budget cuts, it would be wise to think beyond the element of monetary cost. Because the cost of losing attention could be larger than the amount of money you may be saving without advertisements.

    -Oliver Evans, Sally Shupe, Jared Sales

  • College Reps: The True Meaning of Product Placement

    As we know, product placement usually gets associates it with the entertainment industry; the obvious examples are seen in movies, on television, found in song lyrics, or simply connected with celebrities. In movies and television shows, it appears that the most effective uses of product placement are when the presence of the product doesn’t take away from the story.  Although many brands have been using this strategy for years, other companies have started to play off of this model as they determine the new way to practice subtle product placement: college reps.

    You might be wondering, what is a college rep? A college, or campus, representative, commonly known as a “college rep”, is a university student directly associated with a brand whose job is to promote that brand around their campus.  Brands who use college reps, such as Apple, Playboy, Red Bull and clothing companies like COAST Apparel and Emma Graham Designs, all realize that their products appeal to the college market. And who better to reach out to the college market than a college student?

    It might seem risky targeting college kids, but companies know that this market’s members aren’t as broke as they seem. They know that students are at a point in their lives when they are beginning to make many decisions on their own, including what brands they want to be loyal to.  But like most consumers, college students won’t believe it till they see it—this is why the idea of hiring a student representative, who can effectively promote a brand by simply making others see it.  These reps are subtle, yet influential among their peers; they wear the clothes, they use the products, and they are educated on the brand.  These students are the epitome of a walking billboard, and they have been placed in the heart of their target market. And while they do a lot of promotion, they also report feedback to their brand as a representative for their campus.

    The idea of the college rep is a creative and effective strategy that challenges guerilla marketing tactics.  Especially with the rapid growth of the social media scene, it only takes one person with a large network of friends to promote a brand that he or she believes in and if all works out that brand can instantly go “viral”.

    -LaPuasa, Dillard, Reinhardt

  • Wonka Vision

    Have you ever gone out and bought something simply for the
    fact that you saw your favorite celebrity or athlete endorsing it? Or, have you
    watched your favorite show or football team-play on TV and be mesmerized by a
    product?

    Many companies use product placement on television shows to
    advertise their brand. A lot of times, the company will sponsor a certain show,
    and in return their brand may be used in various ways throughout an episode; it
    may be used as a product in the episode or the company’s commercial will play
    during a break. For instance, have you ever wondered why all three judges on American Idol are always sitting behind
    large glasses of Coca-Cola? It is not because they cannot get enough
    daily-intake of Coke; it is because American Idol is sponsored by the Coca-Cola
    brand. Television shows are a major source of advertisement. The reality show The Kardashians is a show focused
    around the life of the Kardashian brand and family. They now have a clothing
    line through the Sears Company which is marketed on the show, a boutique
    clothing and accessory store Dash, and even market perfumes because who doesn’t
    want to smell just like a Kardashian!

    Product placement is a way for companies to inject their
    products to be endorsed by celebrities so the product will then be “cool” and
    acceptable for everyone else to buy. The show The Restaurant, on the Bravo network, starring the high-end
    restaurant chef Rocco, was paid by the show’s three main sponsors: American
    Express, Mitsubishi Motors and Coors Brewing. Bravo
    did not pay a single penny of
    license fee to have the show made. To justify its investment, each of the shows’
    sponsors has received a prominent place in the show: American Express provides
    the financing for the restaurant and the show.

    Of course, in the early days of television, such
    integration between advertiser and show was quite common. Such links persisted
    into the 1970s from the movie Willie Wonka and the Chocolate Factory, which was entirely funded by Quaker Oats. The
    Quaker Oats brand used the movie to promote its new “Wonka” brand of
    candy and sweets. Beware and conscious of what you are buying.

    – Jordan Hill, Michela Noreski, Ashley Nelson