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Hi, need to submit a 500 words paper on the topic The Usefulness of Marketing for Media and Entertainment Companies such as Disney.
Hi, need to submit a 500 words paper on the topic The Usefulness of Marketing for Media and Entertainment Companies such as Disney. The Usefulness of Marketing for Media and Entertainment Companies such as Disney To compensate the rapid dynami of the current age, it is crucial to recognize the importance of marketing strategies to survive and sustain. Need of marketing is not only limited to the tangible goods but it needs to integrate best fit marketing practices in media and entertainment industry as well. The leading players might include Walt Disney, Fox Group entertainment, AOL Time Warner and IncViacom. They broadly understand the requirement and fit their marketing strategies with the business goals. Further sections of the essay will include the common practices, need of dynamic competition and importance of implying such practices briefly (Kaser and Oelkers, 2008).
Strong brand imaging is important to engross higher customer equity. If taking the example of Disney, they are customer focused but their prices are not comparatively lower. Currently they are more conscientious about penetrating their existing market e.g., selling more to the prevailing consumers, continual expansion in marketing efforts to promote brands and improving the product quality to gain higher customer satisfaction by attaining expectations of customers. Their current marketing strategy can be analyzed as a “Brave” stroke of strategic mix. This entailed after observing the tremendous success of the movie “Brave” which performed terrifically on the box office as 13th top of the list movie consecutively yielding $66.7 Million. The analysts had topped up that Brave will barely be able to earn its cost on box office but its success made them to think about the Disney’s marketing strategies (Hughes, 2014).
After examining the strategies of the Walt Disney and Time Warner, it has been concluded that customer affiliation is most important. Walt Disney has pointed on the right stroke by exploiting the exact opportunistic approach for example the strategic partners such as, McDonald. The characters embossment of Time Warner is reported as higher according to Gallup among the young generation yet the success rate of Disney is more than Time Warner (Gilchrist, 2013). The Dream works media entertainment also possesses a sustainable position in the industry but the character embossment and impact is not comparable because of strategic partnership and marketing practices (Hughes, 2014).
Another important distinguishable feature of Disney’s marketing practice is the use of CSM (Corporate Social Marketing) (Robbins, 2014). Marketing is however important in this industry because all they have to disseminate and sell is the entertainment. It will highly dependent upon the extent of the information about their offerings to the potential customers. Otherwise the customary goal would never be achieved. The top management seeks for the trends in the market and then exploits the ideological movements across the competition (Kaser and Oelkers, 2008). They dig out about the customers’ acceptance and approval for the content they are planning to offer and then they present the best of the presentable of their possible resources. The role of marketing is nonetheless comparative to a bridge between the offerings and the people and the way how they send the relevant information to the consumers. They have to insist on the consumers to pay for the sake of entertainment while they are not going to attain any direct benefit personally. It is as interesting as crucial to urge the customers to pay (Sayre, 2008).
Reference
Sayre, S. (2008) Entertainment marketing & communication: Selling branded performance, people, and places Pearson/Prentice Hall.
Robbins, M. J. (2014) .The Most Powerful Mouse in the World : The Globalization of the Disney Brand. Honours. University of T ennessee.
Kaser, K. and Oelkers, D. B. (2008) .Sports and entertainment marketing. Mason, Ohio: Thomson South-Western.
Hughes, M. (2014) How Warner Is Rebranding Batman Vs. Superman .Forbes. [online] Available at: http://www.forbes.com/sites/markhughes/2014/02/01/how-warner-is-rebranding-batman-vs-superman/ [Accessed: 13 Mar 2014].
Gilchrist, T. (2013) Disney Stomps Time Warner, NBC Universal in Social Footprint Study .Forbes. [online] Available at: http://www.forbes.com/sites/toddgilchrist/2013/10/28/disney-stomps-time-warner-nbc-universal-in-social-footprint-study/ [Accessed: 13 Mar 2014].
