Fall+2009+Section+09-PS+Week+1

=Class Discussion For Week 1=

Get involved. Everything is purposed to spark creative discussion

In order for companies to avoid obsolescence, they need to define their products in broad terms to ever-expand "products that appeal to customers and continuously enlarge its market (Levitt, 1960 )". As stated in the “Marketing Myopia” article, businesses that focus too narrowly on just products are doomed for failure.
 * What's your business?**

Can travel agency companies defend themselves from becoming totally obsolete? Although there are many variables involved, a customer-focused organization would always fare better than that of other organizations. Emphasis on customer needs (vs. sole company interest) are crucial for business survival.

How can pencil sharpener manufacturers defend themselves from becoming obsolete? Innovation.

As discussed in class last week, it is important for businesses to have strings of successful products. For example, if IBM had relied solely on floppy discs to increase their revenues, they would have been out of business by now. In order to have a flow of successful products, it is important for companies to focus on the consumers needs.


 * Look - See - Imagine - Show**




 * G.I. Joe Case Study**

The Brand Manager over a G.I Joe (and the class) was tasked to decide between 3 different ways to market the G.I Joe action figure: -  - Traditional media -  - Supplement traditional media with limited entertainment -  - Nontraditional forms of marketing

4 market segments were present:

- 5-7 year olds - 8-10 year olds - 11-12 year olds - Collector segment 20-55







A hollywood production has the potential to boost sales to mega brand status. Utilize the bulk of the marketing budget after the release of the film to maintain sales momentum.

Given the three aspects of marketing for GI JOE--Traditional, Non-traditional, or Supplemental, Hasbro has to make a solid decision where to spend its marketing dollars. History will tell: GI JOE has been successful with Traditional marketing for quite some time. However, evolution of the times warrants a second look at where to go with marketing dollars. The internet is perhaps one of the most powerful marketing tools that can influence awareness and desire in the GI JOE brand, capitalizing on potential increase of sales.

Some opinions supported by fact that are important in making the GI JJOE marketing decision: The market for boys brands don't last long. And if you do have a brand that strong this is an an imortant asset that can generate revenue for many years (if managed right). JG

"Between 1982-2001, there were roughly 50 boys brand that reached 10 million in sales but did not reach 3 years. Conversly, in the same period, over 7 brands lasted over eight years " JG

In consideration that the marketing director for GI Joe had 10 million dollars to work with, it seems far-stretched to complete some of the modes of advertisement presented in class. Video-games, cartoons, and dvd composition are very expensive.

In most situations creating toys for a Hollywood video is very pricey (licensing can be up to 20% of sales). However in this situation Hollywood came to Hasbro and asked to make a movie for GI Joe. This means Hasbro would pay no licensing fees, nor have the burden of the Production costs. "The potential upside is huge"...In a good movie year..licensed toys can exceed $250 million. This would be a big step towards establishing GI Joe as a mega brand.: As one of the models above show, a hollywood movie would appeal and capture all market segments, and developing brand awareness with them. JG

No tests, there is no wrong answer. Entrant your minds! And once you do... re-entrant!