![]() | It has been suggested that this article be merged with Postmodern branding . (Discuss) Proposed since January 2024. |
![]() | This article is written like a personal reflection, personal essay, or argumentative essay that states a Wikipedia editor's personal feelings or presents an original argument about a topic.(January 2012) |
Marketing |
---|
In response to shifts in consumer behavior and conditions brought on by postmodernism, many companies changed their marketing approach to address and create more nimble, immersive experience and customer engagements. It is stated that the traditional means of brand management has grown increasingly hard and complex within the postmodern marketplace. [1] A brand in its modernist or traditional interpretation by marketing schools of thought and accredited, professional associations is defined as a, "name, term, design, symbol or any other feature that identifies one seller's good or services as distinct from those of other sellers. [2] [3] This definition, argued by Muzellec and McDonagh refers to the brand as a single reality or focus on only one-way addressable interaction partners that in many way are not current with customer communications. [4]
As a result, many companies are rapidly changing the way they manage the created names, terms, designs, symbols and other marketing material on behalf of the brand. The significance here is not only focusing on and tracking the organizational created material, but also identifying, monitoring and tracking the material created or suggested by the enthusiast, loyalist, defectors and the like.
In order to properly engage within the postmodern world of marketing a brand will need to adapt of set of new systems that give great insights.
Newly developed systems are in need for a brand to be more nimble and personal with their customers. Although this is an ever-evolving time it bears witness that there are new rules to the "new now" or "new new now" of marketing. And although an organization employs any platforms and processes the brand manager should realize that the brand they are managing is still just a participant in the community they wish to create. With that said, the organization should come to grips with the idea that they may not own the very brand they created. [1]
Coke is one of the more influential brands within the carbonated beverage industries. Although they have experienced an ongoing soda war with Pepsi dating back to the 1960s, they have emerged recently with an approach, Wendy White implies as agnostic and focused on telling engaging stories no matter where the consumer is. [5] Additionally, this approach allows the user to take part in the brand, identify with the story being told and engage in the way he or she feels fit. [6]
As a result of the approach the brand has seen great success in capturing the number two beverage position in terms of units sold while defending their legacy position as number one. [5]
Although Starbucks has had minor setbacks in navigating the "new now", postmodern marketing landscape (53% drop in profits in 2009), [7] they are still seen to be a leader in the space. At the current writing of this document,[ when? ] the brand has over 25M likes on Facebook with 279 people talking about their brand online. [8]
Additionally the brand has also ushered in a sea of change by creating one of the most intuitive and innovative mobile apps in the market. In partnership with mFoundry, Starbucks created a mobile payment application that is in current use nationwide [9] and within the first two months of the application being live over 3M customers downloaded and used it.
If these two examples are not enough to illustrate the brands commitment to the postmodern model of consumer engagement the use and execution of the branded social network, "MyStarbucksIdea.com" does. MyStarbucksIdea is a perfect example of giving up control of the brand to consumers. The social network allows consumers and loyalists to suggest ideas based on their personal experience with the company. Based on these suggest and the recommendations for the community Starbucks is able to more efficiently plan strategic roadmaps around consumer interactions. To date the brand has received over 120k ideas ranging from ordering, atmosphere, coffee and drinks to new technology. [10]
Coca-Cola, or Coke, is a carbonated soft drink manufactured by the Coca-Cola Company. In 2013, Coke products were sold in over 200 countries worldwide, with consumers drinking more than 1.8 billion company beverage servings each day. Coca-Cola ranked No. 87 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. Based on Interbrand's "best global brand" study of 2020, Coca-Cola was the world's sixth most valuable brand.
Pepsi is a carbonated soft drink with a cola flavor, manufactured by PepsiCo. It was originally created and developed in 1893 by Caleb Bradham in the United States, and became known as Pepsi-Cola in 1898, before shortening to Pepsi in 1961. As of 2023, Pepsi is the second most valuable soft drink brand worldwide behind Coca-Cola; the two share a long-standing rivalry in what has been called the "cola wars".
Guerrilla marketing is an advertisement strategy in which a company uses surprise and/or unconventional interactions in order to promote a product or service. It is a type of publicity. The term was popularized by Jay Conrad Levinson's 1984 book Guerrilla Marketing.
New Coke was the unofficial name of a reformulation of the soft drink Coca-Cola, introduced by The Coca-Cola Company in April 1985. It was renamed Coke II in 1990, and discontinued in July 2002.
The Cola Wars are the long-time rivalry between soft drink producers The Coca-Cola Company and PepsiCo, who have engaged in mutually-targeted marketing campaigns for the direct competition between each company's product lines, especially their flagship colas, Coca-Cola and Pepsi. Beginning in the late 1970s and into the 1980s, the competition escalated until it became known as the cola wars.
Crystal Pepsi is a clear cola soft drink made by PepsiCo. It was initially released in the United States and Canada from 1992 to 1994. Online grassroots revival efforts prompted brief re-releases throughout the mid-2010s. It was briefly sold in the United Kingdom and Australia.
Coca-Cola C2 was a cola-flavored beverage introduced by The Coca-Cola Company first in Japan, then later on June 7, 2004 in the United States, in response to the low-carbohydrate diet trend. This Coke product was marketed as having half the carbohydrates, sugars and calories compared to standard Coca-Cola. It contained aspartame, acesulfame potassium, and sucralose in addition to the high fructose corn syrup typically found in cola beverages distributed in America.
The Coca-Cola Company is an American multinational corporation founded in 1892. It produces Coca-Cola. The drink industry company also manufactures, sells, and markets other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. The company's stock is listed on the NYSE and is part of the DJIA and the S&P 500 and S&P 100 indexes.
PepsiCo, Inc. is an American multinational food, snack, and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase. PepsiCo's business encompasses all aspects of the food and beverage market. It oversees the manufacturing, distribution, and marketing of its products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc., PepsiCo has since expanded from its namesake product Pepsi Cola to an immensely diversified range of food and beverage brands. The largest and most recent acquisition was Pioneer Foods in 2020 for US$1.7 billion and prior to it was buying the Quaker Oats Company in 2001, which added the Gatorade brand to the Pepsi portfolio and Tropicana Products in 1998.
Umbrella branding is a marketing practice involving the use of a single brand name for the sale of two or more related products. Umbrella branding is mainly used by companies with a positive brand equity. All products use the same means of identification and lack additional brand names or symbols etc. This marketing practice differs from brand extension in that umbrella branding involves the marketing of similar products, rather than differentiated products, under one brand name. Hence, umbrella branding may be considered as a type of brand extension. The practice of umbrella branding does not disallow a firm to implement different branding approaches for different product lines.
In marketing, promotion refers to any type of marketing communication used to inform target audiences of the relative merits of a product, service, brand or issue, persuasively. It helps marketers to create a distinctive place in customers' mind, it can be either a cognitive or emotional route. The aim of promotion is to increase brand awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion.
Tab Clear was a variation of Tab. It is Coca-Cola's contribution to the short-lived "clear cola" movement during the early 1990s. It was introduced in the United States on December 14, 1992, in the United Kingdom a month later and in Japan in March 1993 to initially positive results. Tab Clear was, however, discontinued after only a short time of marketing in 1994. Unlike most other "clear" soft drinks, Tab Clear contained caffeine and, according to the company, had the flavor of cola.
Food marketing is the marketing of food products. It brings together the food producer and the consumer through a chain of marketing activities.
Digital marketing is the component of marketing that uses the Internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services. Its development during the 1990s and 2000s changed the way brands and businesses use technology for marketing. As digital platforms became increasingly incorporated into marketing plans and everyday life, and as people increasingly used digital devices instead of visiting physical shops, digital marketing campaigns have become prevalent, employing combinations of search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, display advertising, e-books, and optical disks and games have become commonplace. Digital marketing extends to non-Internet channels that provide digital media, such as television, mobile phones, callbacks, and on-hold mobile ringtones. The extension to non-Internet channels differentiates digital marketing from online marketing.
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from generic or store brands.
Alliance marketing is joining two or more organizations on the purpose of sharing marketing strategy, promoting concepts, services or products. Basically, alliance marketing can imply to any business as long as it finds an organization that has a mutual goal.
Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers. Most social media platforms have built-in data analytics tools, enabling companies to track the progress, success, and engagement of social media marketing campaigns. Companies address a range of stakeholders through social media marketing, including current and potential customers, current and potential employees, journalists, bloggers, and the general public. On a strategic level, social media marketing includes the management of a marketing campaign, governance, setting the scope and the establishment of a firm's desired social media "culture" and "tone".
Sensory branding is a type of marketing that appeals to all the senses in relation to the brand. It uses the senses to relate with customers on an emotional level. It is believed that the difference between an ordinary product and a captivating product is emotion. When emotion flows in the marketplace, your product shines. When there is no emotion from the product, customers lack the enthusiasm and passion that launches a product to success. Brands can forge emotional associations in the customers' minds by appealing to their senses. A multi-sensory brand experience generates certain beliefs, feelings, thoughts and opinions to create a brandgon image in the consumer's mind.
Postmodern marketing is a term derived from postmodern philosophical movements where there are cultural tendencies of inherent suspicion towards a global cultural narrative or meta-narrative. Postmodern marketing takes this same philosophical perspective and applies it to the way advertising initiatives are handled in the current post-World War II era. Postmodern marketing is approaching or has passed through a new era in advertising, branding, and strategic brand thinking. Postmodern marketing is inherently focused on customized experiences where broad market generalizations are no-longer applied or implemented on behalf of branded communications. Instead, the technique requires marketers to remove "new aged adlandia" trends and developments to focus on how the consumer prefers to be messaged to.
Frank Cooper III is a business executive, branded entertainment leader and current Chief Marketing Officer for Visa. Cooper was earlier CMO of BlackRock, CMO/Chief Creative Officer of BuzzFeed and served as CMO of Global Consumer Engagement for PepsiCo, Inc.