When Australian wine label Yellow Tail took the budget end of the US bottled wine market by storm, the hardest hit among incumbent players was Beringer. Ashish Sinha, head of the school of marketing at the Australian School of Business, explains how Beringer mounted a three-pronged defence – including a counter-intuitive decision to increase prices – to topple Yellow Tail and achieve new profits. “The Beringer case shows that if you are being disrupted, it doesn’t mean you can’t do something about it – you do have ways to minimise the impact,” Sinha says.
From: November 11, 2013 An Equation for Effective Ads: Connecting Emotions to Sales
The influence that emotions have on consumers – and whether it can spur sales gains – was the focus of a recent Wharton conference.
From: September 16, 2013 Energy Efficient Products: Emphasise Value, not Values
New Wharton research shows that getting politically conservative consumers to adopt energy efficient products may be less about convincing them of the benefits of going green and more about showing them value that people of all political persuasions can appreciate.
From: September 16, 2013 Interact and Engage: Social Media Marketing and the Future of Advertising
Technological progress is creating a new market reality in advertising with the emergence of a generation of engaged customers, says Liem Viet Ngo, from the Australian School of Business. Traditional television and print advertising is being increasingly supported – and sometimes replaced – by social media marketing and online campaigns where participation and sharing information are the norm. Are these new forms working? Ngo notes that measuring the return on investment of an online campaign remains a challenge for marketers, but one thing is clear: they should stop shouting and start listening. Industry experts suggest that trust is the new black.
From: May 21, 2013 How 'The Road Not Taken' May Be Undermining Your Choices
Feeling satisfied with a decision isn't just about what you choose – it's also about how you choose it, according to recent research co-authored by Wharton professor Cassie Mogilner. In a series of experiments, Mogilner and her co-authors found that people who made a choice after seeing all of their options simultaneously were happier with the outcome than those who saw them one by one. The culprit behind this lack of satisfaction, they add, was "the imagined road not taken".
From: March 14, 2013 The Hazards of Celebrity Endorsements in the Age of Twitter
In retrospect, the Chanel publicity team might admit that a perfume advertisement starring Brad Pitt in the throes of what seems to be an existential crisis is not exactly marketing gold. The commercial, shot in black and white, features Pitt – bearded and brooding – alone in a room. "It's not a journey," he intones, eyes downcast. "Every journey ends, but we go on. The world turns, and we turn with it. Plans disappear; dreams take over. But wherever I go, there you are: my luck, my fate, my fortune."
From: February 27, 2013 Roll Up, Roll Up: There's No Business Like Festival Business
The hundreds of festivals staged in Australia every year generate significant revenue, not just for organisers and performers, but for the wider economy. They also play an important cultural role in bringing communities together. Discovering how successful festivals work and ways the experience can be improved – and with that profits – has become an exercise for academic minds. Australian School of Business lecturer Jenny (Jiyeon) Lee has been researching crowd loyalty and says that building social and emotional ties through shared experiences is a key factor. Festivals are applying modern event-design techniques to positively influence an audience’s motivation, participation and satisfaction. It's all about keeping the crowds coming back for more.
From: February 05, 2013 Daniel Pink: Putting Your Best Pitch Forward in a Society of Salespeople
Daniel Pink likes to take an unexpected, if not completely contrarian, view of the universe. He carries a notebook with him at all times and jots down things he sees or hears that he might want to think about later.
From: January 31, 2013 Social TV: People Are Talking - How Marketers Should Listen
Social media is giving television viewers a forum and a voice to debate their favourite shows -- but how do networks and advertisers harness the buzz and put a value on it? Wharton operations and information management professor Shawndra Hill is studying how "social TV" could be used to effectively build viewer engagement. By understanding who is using social media to talk about TV, and why, she says, companies can provide consumers with better recommendations for other content they might like, and also figure out how to better market and sell their products in a rapidly changing media landscape. Hill's research can be found at the Social TV Lab.
From: December 05, 2012 Marketing to Kids: Toy Sellers' Bonanza or Parental Danger Zone?
Gone are the days when kids raced to the toy sections of old-fashioned department stores to find items for their holiday wish lists, or parked themselves in front of Saturday morning cartoons, captivated by a barrage of television commercials for GI Joe action figures, Chatty Cathy dolls and Easy Bake Ovens.
From: December 05, 2012