IMC Hawks Blog

Tag: Business

  • 30 Seconds to Impress.

    Super Bowl XLVI, hosted in Indianapolis, Indiana. February 5th, 2012.

    As the big game is just days away, people are gearing up for Sunday and preparing themselves for the largest televised game in all of sports. With an estimated 90-100 million people forecasted to watch, Sunday isn’t a big day just for the Giants and the Patriots; Sunday is the day where the nation’s most popular companies spend up to 10% of their yearly advertising budgets.

    Projecting an increase in viewership, it is to be expected that an increase in the price of advertising on the nation’s biggest stage, with this year’s price tag for 30 seconds of screen time reaching $3.5 million dollars, an increase from last year’s $3.1 million. Keep in mind that $3.5 million dollars will get you ONE 30-second advertisement, where it will be competing for viewership in an estimated 47 total minutes of commercial time. It’s no surprise that companies like Anheuser-Busch and PepsiCo are willing to shell out nearly a quarter of a billion dollars to run upwards of 10 ads, with some lasting over the 60-second mark.

    It has also been reported that Swedish company H&M will be airing their first ever Super Bowl advertisement, starring the LA Galaxy and former EPL Soccer star David Beckham. While this isn’t the first time that a global company has advertised during the big game, it is certainly a sign that retailers globally are starting to incorporate the Super Bowl into its scheduling of product launches, as H&M is set to reveal their new line during the ad that will be in stores soon after. It is obvious that while football is an American sport, there is no better way of getting attention during the most watched event of the year.

    But when it comes down to it, is it really worth it? Many experts agree that, yes it is. It has been reported that nearly 50% of the audience tunes into watch just the commercials alone. The main draw of these commercials isn’t necessarily for people to go out right after and buy the product, but just to stir up some buzz around the company. Being known is always the first step to great sales. However, selling the products helps a lot too. Think about Snickers buying a $3 million dollar ad, and then think about how many candy bars they would have to sell in order to pay for that ad. Don’t worry. Randle D. Raggio, a professor at the University of Richmond in Virginia already did it. You’d have to sell 6,329,406 bars. If 100+ million people see your ad during the commercials though, you probably have a pretty good shot, I’d say.

  • VitaminWater: Ethically Healthy?

    When asking people about their New Year’s resolutions, you are likely to hear about their well-intentioned dietary goals. Our culture today is fanatical when it comes to weight loss and getting healthy. There are numerous hit TV shows such as “Biggest Loser,” “Celebrity Fit Club,” and “I Used to be Fat” plus piles of trendy diet books littering a great deal of homes across America that all attest to this craze. With people’s insatiable appetite for slimming down quick, it is no wonder that the big players of the industry are trying to cash in, even if it means being dishonest. So where do we cross the line? Isn’t it unethical when companies are turning out products that claim to be good for you but in truth are the opposite?

    By branding and promoting products as healthy, companies are capitalizing on the fact that people will buy almost anything they think will make them healthier, lose weight, or feel better. Some companies have gone to extreme lengths to ensure “healthiness” and “good for you” are  intertwined in their brand message but some go too far. It’s simply unethical for marketers to make a product seem healthy just to soothe our guilty conscience and sell their product. While striving to reach your health goals this year, keep the following misleading speed bumps in mind on your road to getting skinny and staying healthy.

    For example,Vitamin Water has healthy buzz terms in its title yet when you take a closer look at the nutrition label, its marketing campaign is contradicting the actual product. The brand of choice endorsed by our favorite two-coin rapper actually has about 32.5 grams of sugar per bottle. “Vitamin” and “Water” carry healthy connotations in their misleading titles and have relied on clever campaigns that play directly at our desire to be healthy. However, these products don’t in fact deliver on their promise. These little morsels of advertising non-truths can soon turn into a fat lie.
    -By: Alexis Kapczynski, Kacy Cox, Sara Kaloudis and Josh Bowman.

  • 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

  • Public Relations Specialist: A Top Job for 2011

    According to the U.S.News and World Report, one of the 50 best careers for 2011 is a Public Relations Specialist. One definition for Public Relations given by the Public Relations Society of American (PRSA) is that “PR helps an organization and its publics adapt mutually to each other.”PR specialists are hired to create a relationship with the public and to hopefully generate success.

    U.S. News and World Report stated that between 2008-2018, the employment of public relations specialist is intended to rise 24 percent. That 24 percent increase is appealing for us future PR specialists, especially in this current economic climate.

    So, what does it take to become a PR specialist?

    First off, most PR specialists have a Bachelor’s Degree in Communication Studies, Journalism, Public Relations, or Business. In any field, it is important to get experience. Internships, especially in PR, are important to build your résumé because that is what projects yourself to potential employers. You must be able to think fast and accurately, have stress control, and be confident in what you do. In all communication fields, having good writing skills is obviously a necessity along with strong communication.

    In the previous post, Katelyn Truss talked about how important it is to create a brand for ourselves. Knowing your brand allows you to be more appealing to employers and eventually, your specific brand could attract customers for the business. It is appealing to employers when the person they are thinking about hiring is proud of what they’ve accomplished and has a positive outlook about the person they’ve become.

    Gary McCormick, CEO, of PRSA gives some advice for future PR Specialists in U.S. News’ article for “Top 50 Jobs of 2011”. He explains that getting a job in PR comes down to networking and that, “it’s really the cornerstone for what we do for clients and companies all the time.”

    Integrated Marketing Communication programs use public relations to advertise, market, influence, promote, build relationships with the customer, communicate new products, defend products, build excitement over a product, and so much more.

    Check out this video from PRSA: “The Value of Public Relations.”

    -Micaela Fouhy

  • Facebook vs. Twitter

    Social media has become such an important aspect of our culture and now provides businesses the chance to market to their potential and current consumers. It is interesting to notice whether having, for example, a Twitter or Facebook account will make a difference for your company.

    To keep with the theme of competition going for our IMC-Hawks blog, we’ll ask,
    Which is a better social network to market a business: Facebook or Twitter?

    Facebook: We all know the story of Mark Zuckerberg and his genius creation of Facebook in 2004. Facebook has now grown to have over 500 million active users and about 70% of those million are from outside the U.S.

    What makes Facebook appealing to businesses? It’s community based. Facebook allows you to know who is interested in your product and allows you find out what specific target market to aim for, as well as updating the users of any new information. Facebook gives the business an opportunity to upload multi-media information and gives users the chance to speak their minds about the specific product or service.

    Twitter: Twitter has 175 million registered users and about 95 million tweets go out a day. I like to think of Twitter as basically a site for multiple Facebook status’ (if you want to put it that way).

    So why choose Twitter for your business? The 140 character limit allows you to keep the message short while containing the most important information you want to deliver. Twitter is all about messaging at a fast pace. If you want to get something out fast, Tweet it! You also can see who is following you and what consumers are saying about your product (a similarity to Facebook). However, most tweets for businesses usually contain a link that drive the reader, if interested, to a specific site or article.

    Twitter offers a link for businesses on their website: http://business.twitter.com/

    If you weigh the comparison out, it seems that both Twitter and Facebook offer important social media marketing tools. It all comes down to what will be more appealing for your company or what will be more effective.  In my opinion, as a consumer, Twitter and Facebook work together in a positive way. You can tweet out a link to your Facebook page and you can connect your Facebook page to your Twitter account. Nowadays, having both Twitter and Facebook isn’t necessarily a bad thing. Involving your company one way or another on a social networking site is crucial for your company, especially on the customer satisfaction side. It is appealing when the company is involved and connects on a more personal level.

    Which one do you think is more successful in connecting with customers? Facebook or Twitter?

    -Micaela Fouhy

  • Networking in Wilmington, NC

    As young professionals we focus on what career we want to have and what company we want to land a job with, but rarely do we focus on how we get there. We’ve all heard the phrase; getting the job you want is all about “knowing people.” This may be truer than we think. The act of networking is a very important practice that all business men and women must try and accomplish.

    Networking can be thought of as a sharing of common interests or ideas. The business world is constantly evolving and therefore businesses need to be always be connected to new ideas and thoughts. Through networking people are able to share their opinions and even more importantly meet people that their business could benefit from.

    Wilmington has a plethora of businesses that rely on networking. A great website that helps professionals within our area is WilmingtonNetworkingEvents.com. This webpage creates a calendar of all the networking events that are happening throughout the month. There are even different categories of networking from young professionals to meet and greets. For example, every Wednesday there is an event held called “strictly business.” The event is held at a local bar where a more casual atmosphere allows sales executives, business owners, and managers to meet new clients and contacts. Another example is the Brunswick County Young Professionals meetings, where men and women that are up and coming into the business world are able to talk about their next step, how to get there, who to talk to, what’s the best way to go about things.

    Everyone benefits from networking, because its smart, easy, and as we see from this website, fun! Networking can be seen as a challenge because it is not effective if you’re not willing to put yourself out there. Check out the webpage for more information on opportunities where you can network and get your name out there. It is never too early to start networking.

    Alissa Lockwood