Tag Archives: Adweek

This Week In Market Research: 8/31/15 – 9/4/15

One of the most important things in market research is finding out what makes a consumer trust specific brands and in turn, remain a loyal customer to that brand. This week, Adweek released an article that discovers the CPG brands men and women trust the most. According to the article, male consumers ranked Band-Aid No. 1 with Heinz Ketchup and Neosporin Antiseptic following close behind. Comparatively, women placed Band-Aid second behind Ziploc bags. Reynolds wrap and Neosporin, respectively, came out to third and fourth. In analyzing this data, Mike de Vere, Managing Director of Consumer Insights as Nielsen, stated that ”For men, brand trust is a bit more diversified’ [than it is for women.]” And in remarking on the choices from women, he claimed that the majority of the products on their list helped to make their lives simpler in different ways. ”For women, trusted brands are tried and true and have stood the test of time.’” These surveys on consumer insights open up doors to learn more about the way a product can be more marketable and trustworthy to the consumer.
An infographic that was released this week on Adweek, discusses and details the various purchases of the very wealthy in America. According to market research, these individuals are reviving the business of luxury goods and keeping it alive. ”The good news for luxury marketers, their agencies and the media alike is that consumers with really deep pockets are digging into those pockets with gusto, even more so than their merely affluent counterparts. According to Bob Shullman, the Shullman Research Centers founder and CEO, these high income and wealthy consumers are not just purchasing, but they are also purchasing with more frequency. So what are these people purchasing? The infographic shows that among other things, fine wine/beer/spirits, fine jewelry, and home furnishing/antiques are some of the top items bought by these wealthy individuals. The infographic itself is extremely detailed and details numerous purchases that you may or may not have assumed.
As many of the ‘baby boomer’ generation begins to retire and those business hotels are no longer required, how should hotels respond to this newer generation? According to an article on AdWeek released this week, hotels like Marriott are shifting their marketing approaches in order to reach the ‘millennial’ travelers. ‘So how does a tradition-rich lodging brand stay relevant in a changing marketplace? For Marriott Hotels, the signature brand of lodging giant Marriott International, the answer was simple: If you want to know what next-generation travelers want, just ask them.’ In their new marketing strategy Marriott is crowdsourcing the client’s ideas and opinions on what would make their business hotel experience more enjoyable. Already, this strategy appears to be working well for Marriott, as the grassroots approach generated 2,000 from a suggestion to provide vending machines that stock healthy snacks. This move by Marriott is an excellent example of why market research is crucial to innovation and business growth.
This week Entrepreneur released an article written by contributor Matt Mayberry, Maximum Performance strategist, which discusses the three best ways to develop a healthy mindset. The first point discussed is to build a grand vision for your life. Mayberry states that one of the many reasons people struggle with controlling their minds and realizing the beauty in life is due to a lack of vison. ‘It’s important that we create a grand vision for our lives because that’s what pushes us forward despite whatever hardship or negative situation may be present at the moment.’ The second tip he suggests is to make a ‘trigger card.’ In other words, write down two of your most important goals on a notecard. The way you write these goals however, will be written in the past tense as if you’ve already conquered them. ‘When Jim Carrey was a broke, struggling actor, he took a blank check and made it out to himself.’ Finally, Mayberry suggests that you sit down and ‘answer some of life’s biggest questions. Now this last one may sound like an impossible task, however the meaning of this last task is what’s important here. ‘What do you want your life to stand for? How do you want to be remembered? What do you want your contribution to the world to be’? For those of you who were worried about answering questions like ‘what lies in the deep depths of the unexplored ocean floor’, you can take a deep breath. These ‘big life questions’ really pertain to the person you want to be and how you want to be remembered in life. All three of these tips, according to Mayberry, should result in a healthier mindset.

Nichole Dicharry, is a Digital Marketing Assistant at IIR USA, Marketing and Finance Divisions, who works on various aspects of the industry including social media, marketing analysis and media. She can be reached at Ndicharry@iirusa.com

Whole Foods Focuses on Fickle Millennials

‘I wish I could afford to buy good organic produce whilst
still being able to pay off my student loans.’ This is something I, as a
millennial, say to myself every time I go to do my weekly food shop. Millennials
like myself have become the focus for many retail industries due to the huge
potential that they provide and Whole Foods are looking to take advantage.
Whole Foods Market recently announced their plans to launch
a new store that is targeted specifically to millennials. The new stores, that
are yet to be named, will be complimentary to the existing Whole Foods Markets
but will provide a more limited array of foods at cheaper prices in order to
cater for the beliefs and needs of the millennial generation.
Millennials are notorious for being difficult to please;
they demand the best yet at low cost. Millennials being the highest users of
social media have been brought up using the internet to discern the best value
products by trawling reviews and forums. However when it comes to food, most
good standard products do not differ a huge amount in price. I know from
personal experience, that most of the time if I want cheap produce, I have to
take a hit in terms of quality.
Though millennials are commonly associated as being far more
concerned about ethical issues behind organic produce, the ‘boomer’ generation
account for a far higher percentage of purchasers. Millennials at the moment
may be at the start of their careers, not earning as much as boomers whilst
paying off student debts. So Whole Foods Markets, Inc. creating smaller stores,
with high quality products for cheaper prices is surely a recipe for success
within the millennial generation. By setting up these stores in areas filling
up with young professionals they will harness a huge market of food values
driven people and could create loyalty in a notoriously disloyal demographic of
consumers.
The questions on my mind that arise from such an
announcement is whether consumers may ask ‘well surely Whole Foods have been
ripping us off if they can set lower prices at these new stores’? 
Could there
be a potential backlash that sees the main stores see a huge decline in
customers? This in turn could lead to a decline in bigger stores and an increase
in new smaller ones. Will this in turn mean Whole Foods ends as a small food
store to rival Trader Joes and other similar companies? If so, will these
rivals lower these prices and cause continuous price drops that could create
profit decline across the industry? This in turn to me could mean a decline in
profit for the farmers and original producers of the food and this is what the
millennials are associated with being concerned about.
Despite my negative questions, I do believe the new stores
will be a success. Cheaper produce in up and coming areas will definitely be
popular with millennials. There are potential roadblocks that should be
addressed in a proactive fashion in order to make sure the easily bored and
brand disloyal millennials grow up into a new boomer generation who stay with
Whole Foods Market, Inc.

About the Author:
Harry Kempe, a marketing intern at IIR USA, who works on various aspects of the
industry including social media, marketing analysis and media. He is a recent
graduate of Newcastle University who previously worked for EMAP Ltd. and WGSN as
a marketing assistant on events such as the World Architecture Festival, World
Retail Congress and Global Fashion Awards. He can be reached at hkempe@IIRUSA.com.   

Are Super Bowl Commercial Slots Worth $4.5M?

The annual Super Bowl has come around again and much of the pre-game excitement is not only about what is happening on the field but about what will be happening during the breaks in play. The Super Bowl commercials are as eagerly awaited for some as the football itself, with studies showing that 50% of people tune in just to watch the adverts. The slots for this year’s game have been sold at $4.5 million for a 30 second slot and a staggering $8 million for a minute long commercial.
Many of the 2015 companies who have adverts in the Super Bowl release teaser trailers or pre-releases that whip up even more hype. The top ten teasers or early releases have already racked up well over 28 million views soon after being released; but expect that number to rise as in 2014 pre-releases had around 77 million views.
Below are ten of the most eagerly awaited commercials for the 2015 Super Bowl:
??         Budweiser ‘ ‘Lost Dog’
??         Bud Light ‘ ‘Coin’
??         Mercedes Benz ‘ ‘Fable’
??         Snickers
??         GoDaddy ‘ ‘Journey Home’
??         Nationwide ‘ Invisible
??         Mophie
??         Skittles
??         Kia
??         Nissan
Other advertisers include huge companies such as Pepsi, Victoria’s Secret, Old Spice and many others. These adverts have always had question marks raised about how much revenue the companies actually receive in comparison to the huge sums of money that they fork out for the commercials. Advert production expenditure tends to be more than $1 million which added to the price of buying a slot makes the overall costs astronomical. Surely however companies wouldn’t keep coming back each year to advertise at the game if it was not a worthwhile investment? A study found that 3 years ago, the 2012 Super Bowl was the most lucrative gaining $245 million in advert revenue. While the overall profit margins for some in comparison with expenditure may not be very large per company, the ability to make a memorable commercial that sticks in people’s minds and is constantly shared and repeated I believe can be priceless.
With the growing influence of social media and the ability to share the adverts online, commercials have the power to reach a huge audience way after the event. Budweiser’s ‘Puppy Love’ advert in the 2014 Super Bowl received a remarkable 1,309,403 shares just two days after the game which shows how well the advert grabbed the attention and played on the emotions of the watchers. Companies investing in a slot have a very short time to make their audience laugh, cry, or be left enthralled by their advert in order to get them to want their product. Budweiser have continued their cute puppy theme by bringing out a sequel to last year’s advert. It is not surprising that they have continued with a winning formula, however will it be a success to rival the efforts of last year or compete this year with Kim Kardashian and her selfies? We shall see after the game!

About the Author: Harry Kempe, a marketing intern at IIR USA, who works on various aspects of the industry including social media, marketing analysis and media. He is a recent graduate of Newcastle University who previously worked for EMAP Ltd. and WGSN as a marketing assistant on events such as the World Architecture Festival, World Retail Congress and Global Fashion Awards. He can be reached at hkempe@IIRUSA.com.