If I've said it once, I've said it 1000 times, The Snuggie is one of the best marketed items in the consumer world, today! (Please see reference in article, below)
http://finance.yahoo.com/family-home/article/110447/6-companies-thriving-in-the-recession
No, but seriously, what I take away from the above article is that companies CAN thrive in a down economy. Let's stop saying "this industry is recession proof" or "buy this commodity during a recession." I think we've all learned that nobody is invulnerable. But, what we can do in our respective companies, is find a way to make it more relevant, perhaps indespensible with new products and services, streamlined operations, and better prices for our customers.
And, the same can be said as an employee. We ALSO need to come up with new ideas, streamline ourselves, and in essense, make OURSELVES indespensible.
Besides the 6 companies above, can you think of some great companies who have strived in this economy? Apple, perhaps? How about others who are in need of an overhaul? GM? Radio Shack? Barnes and Noble?
Tuesday, August 31, 2010
Wednesday, August 25, 2010
"The Situation": A Branding Legend!
OK folks. It's time to talk....JERSEY SHORE. For those who haven't read the below article (or others like it), Mike "The Situation" Sorrentino is slated to make $5M by year's end, and more than DOUBLE that by the end of 2011. Where others blurt blasphemy, I contest "SHEER GENIUS." (See Below for original article)
http://today.msnbc.msn.com/id/38814253/ns/today-entertainment/
Now, I know what you're all thinking: "This guy is a joke! Why are you giving him credit?" That's EXACTLY why I'm naming "The Situation" one of the best marketing strategists of the 21st century. He, almost instantly, transformed himself from an over-tanned gym Asst. Manager to a household name and the authority on all things fitness, style, and grooming (otherwise known as Gym...Tan...Laundry). I mean, it's truly hilarious. This man goes to the gym, tanning salons, bars, clubs, etc. and has created a BRAND from it. I love it! He's had his hand in sports drinks, liquor brands, clothing, etc. etc. from doing EXACTLY what he enjoys doing.
Now, if this is so easy, why isn't everyone doing it? With tag lines like "that's the 'situation'" and "fresh to death, " Sorrentino is, by far, one of the most notable television personalities of the past 18 months. He's coined things like "the shirt before the shirt" and has seemingly abbreviated almost every word in the english language. While most people say he's an idiot, I think he's the smartest man in television, today!
Feel free to discuss this marketing master. But, the question I pose is "Will 'The Situation' have insure his washboard stomach like David Beckham and America Ferrara have insured their token right leg and smile, respectively?" Enjoy!
http://today.msnbc.msn.com/id/38814253/ns/today-entertainment/
Now, I know what you're all thinking: "This guy is a joke! Why are you giving him credit?" That's EXACTLY why I'm naming "The Situation" one of the best marketing strategists of the 21st century. He, almost instantly, transformed himself from an over-tanned gym Asst. Manager to a household name and the authority on all things fitness, style, and grooming (otherwise known as Gym...Tan...Laundry). I mean, it's truly hilarious. This man goes to the gym, tanning salons, bars, clubs, etc. and has created a BRAND from it. I love it! He's had his hand in sports drinks, liquor brands, clothing, etc. etc. from doing EXACTLY what he enjoys doing.
Now, if this is so easy, why isn't everyone doing it? With tag lines like "that's the 'situation'" and "fresh to death, " Sorrentino is, by far, one of the most notable television personalities of the past 18 months. He's coined things like "the shirt before the shirt" and has seemingly abbreviated almost every word in the english language. While most people say he's an idiot, I think he's the smartest man in television, today!
Feel free to discuss this marketing master. But, the question I pose is "Will 'The Situation' have insure his washboard stomach like David Beckham and America Ferrara have insured their token right leg and smile, respectively?" Enjoy!
Friday, August 20, 2010
Business Sequels
Today, I'd like to discuss two of my favorite topics- Food and Cruising!
Recently, I've been reading a lot about businesses mimicking their own success or building out features of their products to create a new product life cycle. I mean, it makes PERFECT sense. If each one of your products could perform as well as your top seller, wouldn't you keep pushing out products? But, this is not the perfect business world. Generally, we are bound by the 20/80 principle: 20% of our products encompassing 80% of our sales. And, that's OK, so long as we learn from what worked and try to replicate it!
Below, you'll find an article about my favorite cruise line, Royal Caribbean Cruise Line. With the largest, most commercially successful ship of all times, the Oasis of the Seas, RCCL has learned much about their customer. For starters, they have learned that they can increase the amount of dollars spent on specialty dining. What does this mean? Their average consumer experience will raise in dollar value with their marketing costs staying EXACTLY the same. Also, they've learned that entertainment like their hit broadway show Hairspray and brand new HUGE projector movie screens are a hit!
So, what has Royal Caribbean done to make use of this new information? They're adding new specialty restaurants and high end entertainment to some of their older and smaller cruise ships, increasing the amount of ships that carry these vacationer magnets. Amenities like these should mean not only more cruisers, but a specific type of cruiser: one who likes to spend MONEY!
http://www.cruisenewsweekly.com/2010/08/17/royal-caribbean-ships-set-for-makeovers/
Similarly, in the below article, companies like Burger King are offering new restaurants centered around their specialty sandwich, The Whopper. What they're doing is creating an entire customer experience revolving around their signature sandwich. Just thinking about it makes me hungry! Burger King has been reliant on customer loyalty for over a decade. They never had to seek out new markets and customers because their customers were retained very well. However, with a long looming recession, they find themselves in the same boat as McDonald's and Wendy's, struggling to gain market share. So, they have targeted a new market- one who REALLY wants it their way! I am curious to see if it will work. They certainly picked the right demographic in Manhattan.
http://buzz.yahoo.com/buzzlog/93937?fp=1
What other companies can you think of that have recently replicated their own success? Apple's iPad? Dodge's Challenger? How about Twitter as a microcosm of what worked well in Facebook? Get creative! Let's see your comments.
Recently, I've been reading a lot about businesses mimicking their own success or building out features of their products to create a new product life cycle. I mean, it makes PERFECT sense. If each one of your products could perform as well as your top seller, wouldn't you keep pushing out products? But, this is not the perfect business world. Generally, we are bound by the 20/80 principle: 20% of our products encompassing 80% of our sales. And, that's OK, so long as we learn from what worked and try to replicate it!
Below, you'll find an article about my favorite cruise line, Royal Caribbean Cruise Line. With the largest, most commercially successful ship of all times, the Oasis of the Seas, RCCL has learned much about their customer. For starters, they have learned that they can increase the amount of dollars spent on specialty dining. What does this mean? Their average consumer experience will raise in dollar value with their marketing costs staying EXACTLY the same. Also, they've learned that entertainment like their hit broadway show Hairspray and brand new HUGE projector movie screens are a hit!
So, what has Royal Caribbean done to make use of this new information? They're adding new specialty restaurants and high end entertainment to some of their older and smaller cruise ships, increasing the amount of ships that carry these vacationer magnets. Amenities like these should mean not only more cruisers, but a specific type of cruiser: one who likes to spend MONEY!
http://www.cruisenewsweekly.com/2010/08/17/royal-caribbean-ships-set-for-makeovers/
Similarly, in the below article, companies like Burger King are offering new restaurants centered around their specialty sandwich, The Whopper. What they're doing is creating an entire customer experience revolving around their signature sandwich. Just thinking about it makes me hungry! Burger King has been reliant on customer loyalty for over a decade. They never had to seek out new markets and customers because their customers were retained very well. However, with a long looming recession, they find themselves in the same boat as McDonald's and Wendy's, struggling to gain market share. So, they have targeted a new market- one who REALLY wants it their way! I am curious to see if it will work. They certainly picked the right demographic in Manhattan.
http://buzz.yahoo.com/buzzlog/93937?fp=1
What other companies can you think of that have recently replicated their own success? Apple's iPad? Dodge's Challenger? How about Twitter as a microcosm of what worked well in Facebook? Get creative! Let's see your comments.
Wednesday, August 18, 2010
Changes in Long Island Retail. What does it mean?
Recently, an article in Newsday spoke of a Pathmark grocery store in Garden Parkbeing closed. This, along with 25 other stores from The Great Atlantic & Pacific Tea Co. (A & P, who also owns Waldbaums, Pathmark, and Food Emporium) will be closing in the next year. (See Link Below)
http://www.newsday.com/long-island/nassau/a-p-to-close-garden-city-park-pathmark-slash-jobs-1.2215386
The store in question has been a staple in the Garden Park community for quite some time. One commenter said they were a 3rd generation Pathmark shopper. This begs the question, "What has changed in the shopping climate of Long Island that would make A & P want to close these stores?"
One easy answer would be the merging of multiple food chains. When stores like A & P, Waldbaums, and Pathmark live under the same corporate umbrella, there is no need for them all to serve the same market. Keeping both stores in the same market would be corporate cannibalism, an act of deliberately competing against oneself. The article does cite a possible reason for these store closings as proximity to other corporate stores.
It's also possible that stores like Wal-Mart, Target, and other mass-appeal chains have taken market shares from these chains. Clearly, before these mergers, all three of these food store chains were surviving off the same market. When other players join the "grocery game," the court may just become too crowded. Grocery chains downsized, considerably, when BJs and CostCo (which merged with Price Club in 1993) began prevelancy in the 1990s.
Other innovations in grocery shopping may also be hurting the sales of these stores. Stop n' Shop, another Long Island grocery presence, for example, is partnered with Pea Pod, an online grocery experience. There, shoppers can place orders online and recieve them at their doorstep! Other delivery companies like Omaha Steaks and Golden State Fruit specialize in meats and produce, respectively. I must admit I've tried and enjoyed them both!
So, what do you think this means for Long Island retail? How will this effect your day to day life? Will your job (or future job) be impacted if retail stores are less prevelant?
http://www.newsday.com/long-island/nassau/a-p-to-close-garden-city-park-pathmark-slash-jobs-1.2215386
The store in question has been a staple in the Garden Park community for quite some time. One commenter said they were a 3rd generation Pathmark shopper. This begs the question, "What has changed in the shopping climate of Long Island that would make A & P want to close these stores?"
One easy answer would be the merging of multiple food chains. When stores like A & P, Waldbaums, and Pathmark live under the same corporate umbrella, there is no need for them all to serve the same market. Keeping both stores in the same market would be corporate cannibalism, an act of deliberately competing against oneself. The article does cite a possible reason for these store closings as proximity to other corporate stores.
It's also possible that stores like Wal-Mart, Target, and other mass-appeal chains have taken market shares from these chains. Clearly, before these mergers, all three of these food store chains were surviving off the same market. When other players join the "grocery game," the court may just become too crowded. Grocery chains downsized, considerably, when BJs and CostCo (which merged with Price Club in 1993) began prevelancy in the 1990s.
Other innovations in grocery shopping may also be hurting the sales of these stores. Stop n' Shop, another Long Island grocery presence, for example, is partnered with Pea Pod, an online grocery experience. There, shoppers can place orders online and recieve them at their doorstep! Other delivery companies like Omaha Steaks and Golden State Fruit specialize in meats and produce, respectively. I must admit I've tried and enjoyed them both!
So, what do you think this means for Long Island retail? How will this effect your day to day life? Will your job (or future job) be impacted if retail stores are less prevelant?
Thursday, August 12, 2010
Molloy College Division of Business Begins Blogging
This is the Molloy College Division of Business Blog. Please check back, daily, for articles and updates pertaining to our school, business education, and business in general!
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