Matching Items (47)
Description
The advertising agency, in its variety of forms, is one of the most powerful forces in the modern world. Its products are seen globally through various multimedia outlets and they strongly impact culture and economy. Since its conception in 1843 by Volney Palmer, the advertising agency has evolved into the recognizable—and unrecognizable—firms scattered around the world today. In the United States alone, there are roughly 13.4 thousand agencies, many of which also have branches in other countries. The evolution of the modern advertising agency coincided with, and even preceded, some of the major inflection points in history. Understanding how and why changes in advertising agencies affected these inflection points provides a glimpse of understanding into the relationship between advertising, business, and societal values.
In the pages ahead we will explore the future of the advertising industry. We will analyze our research to uncover the underlying trends pointing towards what is to come and work to apply those explanations to our understanding of advertising in the future.
In the pages ahead we will explore the future of the advertising industry. We will analyze our research to uncover the underlying trends pointing towards what is to come and work to apply those explanations to our understanding of advertising in the future.
ContributorsHarris, Chase (Co-author) / Potthoff, Zachary (Co-author) / Gray, Nancy (Thesis director) / Samper, Adriana (Committee member) / Department of Information Systems (Contributor) / Department of Marketing (Contributor) / Herberger Institute for Design and the Arts (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
In the startup community, growth hacking tactics are often a key to massive growth in a short amount of time. This is vital in a community where innovation consistently outpaces development, funding runs out fast and products are easily scalable. In this rush to get users, startup companies are finding ways to scale quickly and efficiently, leaving bigger companies unable to keep pace. This thesis examines how Fortune 500 companies can utilize growth hacking in order to mimic the successes found by startups using these techniques. When large companies implement growth hacking tactics, there are two primary models they can follow. The first is an acquisition model, where companies acquire a startup that has already implemented growth hacking tactics successfully. In this model, the startup, despite being acquired, remains autonomous from the core company and is largely allowed to continue in its efforts to grow without the strain and rules of corporate culture. The second model is an internal implementation model. In this model, the company attempts to create an "internal startup" that lives within the parameters of the company's culture and rules. The company then tries to discover and implement the best-suited growth hacking tactics themselves. At the moment, there are several instances of Fortune 500 companies implementing both models. It is important that companies experiment in implementing these tactics as one way to stay relevant and keep up with the ever changing and innovating market. In this thesis, I will attempt to implement growth hacking through MakerSource, an internal project started by Avnet, Inc. I will compare the results of the growth hacking tactics implemented within MakerSource with those implemented by Hackster.io, a startup recently acquired by Avnet, Inc. In each program a variety of push, pull and product tactics were to be implemented. While Hackster.io achieved success with their growth hacking following the acquisition model, MakerSource, following the internal implementation model saw less success.
ContributorsYoung, Jordan Stephanie (Author) / Giles, Charles (Thesis director) / Gray, Nancy (Committee member) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
Description
The goal of this project is to gain market research insight into the handcrafted goods industry and apply this knowledge towards a business plan for a small crafts business: Creations by Songbird. We accomplish this goal by conducting primary and secondary research on the crafts selling industry to see who the target customer is and what their habits are. First, we conduct a literature review looking into the background of some known crafts sales platforms. We discover several consistent trends in product differentiation, retail price calculation, and search engine optimization that we will apply to our business plan. Next, we conduct primary market research in the form of observations, customer and business owner interviews, and surveys. We learn that Instagram is a widely used marketing tool and that Etsy and crafts shows are popular sales channels. Using the results of our research we conclude that the our target customers are women ages 18-24 and 50-59 who attend crafts shows several times per year and occasionally browse Etsy. Many of these women enjoy objects that are vintage style and on average they spend less than $50 per item. Applying the industry and market knowledge gleaned from our research we create a business plan that outlines a price/cost breakdown, marketing plan, and sales plan for Creations by Songbird. We plan to utilize Instagram as our main marketing tool and will sell records via crafts shows and Etsy. Based on our estimates, we conclude that Creations by Songbird will be a profitable business.
ContributorsWood, Sara (Co-author) / Ehmann, Victoria (Co-author) / Gray, Nancy (Thesis director) / Trujillo, Rhett (Committee member) / Department of Supply Chain Management (Contributor) / Department of Information Systems (Contributor) / W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
DescriptionTwo gender-neutral products developed and sold by IKEA were studied in order to learn about the development of such items, as well as what makes gender-neutral products appealing to consumers.
ContributorsDaryanani, Sapna Sonu (Author) / Gray, Nancy (Thesis director) / Lisjak, Monika (Committee member) / Department of Marketing (Contributor) / Herberger Institute for Design and the Arts (Contributor) / W. P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2017-12
Description
This thesis explores the current relationship between high fashion and the advancements and changes in technology that have catapulted the industry into a potentially dangerous level. It is simple for one to identify fashion as a booming industry; however, upon further inquiry, it becomes clear that the pace of the fashion industry is unsustainable as the demands and expectations that the current consumer has for high fashion brands grow unproportional with the standard rate of the industry. In 2016, the fashion industry reached $2.4 trillion in total value, placing it as the seventh largest economy in the world (Amed, 2016), but these numbers are as fickle as a fashion trend. The fear and talk of the current state of fashion is that this will stagnate and even drop off, due to multiple factors. The shift to the "see now/buy now" platform (CFDA, 2016), a marked reliance on social media "influencers" in order to determine success (Friedman, 2016), and the commercialization of creative directors attributing to the high turnover rate at brands (Prigent, 2016) may lead one to conclude the technology is positively affecting the fashion industry. However, these factors ought lead one to conclude that high fashion is moving at an unsustainable pace, one which will result in long-term detriments to the seemingly unshakable industry and remove high fashion off its current pedestal. Over the past few years, a larger consumer base motivated growth in sales numbers, but in 2016, sales growth was at 2-3% with predictions of stagnation to come for the upcoming years (Amed, 2016). This thesis will look at if the high fashion industry itself has become "trendy" and where the current peak of the industry will lead for the future.
ContributorsGur-Arie, Hannah Esther (Author) / Gray, Nancy (Thesis director) / Ostrom, Amy (Committee member) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
Description
As firms increase the number of channels that they operate and distribute their products and services on, they run into new challenges with branding. One sub-industry where many firms have used multi-channel branding is the specialty apparel segment of retail. Many firms of this kind are using a four-channel approach with physical stores, brand websites, social media pages, and direct mail catalogs to market their products. Yet, there are few specialty apparel retailers that do this well across all four channels. A particular technique used to market products in this way is visual merchandising. Visual merchandising for apparel products pieces together full outfits with multiple clothing items and shows them, in some way, being worn. Beyond just marketing products, however, visual merchandising can provide firms with benefits of branding such as brand expertise, positive consumer attitudes, and increased consumer purchase intent. To do this, firms must develop quality brands using traditional branding practices. To use as guides, J. Crew and Anthropologie's branding and visual merchandising practices were analyzed in case studies. Testing consumer perceptions of these brands and their success, primary research about consumers' behavior relative to specialty apparel retail brands and their visual merchandising displays was an outcome. From this research, it was found that consumers best respond to in-store visual merchandising displays. In showing products, a variety product combination strategy is preferred as it enhances the value consumers perceive in brands and builds brand character. Consumers also feel that visual merchandising impacts their knowledge of the brand and its products as well as personal styling. If brands successfully use visual merchandising to brand themselves, brand consistency, brand expertise, and positive consumer attitudes are an outcome. Recommendations for specialty apparel retail brands have been developed using these findings, and the potential such firms are able to realize in using these will greatly benefit them.
ContributorsTaylor, Allyson Nicole (Author) / Montoya, Detra (Thesis director) / Gray, Nancy (Committee member) / Department of Supply Chain Management (Contributor) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
Description
The America's Cup is the preeminent international sailing competition. Since the cup was first awarded to the United States in 1851 for winning a race around the Isle of Wight in England, it has been up for perpetual international competition. The purpose of this project is to assess the marketing strategies implemented for the 35th America's Cup which took place in Bermuda in June of 2017. Through qualitative and quantitative research I discovered the strengths and weaknesses of the current marketing strategies in addition to identifying opportunities for future Cups. While attending the 35th America's Cup in Bermuda I was able to conduct long interviews with several c-level executives of the America's Cup Event Authority as well as conduct a survey with attendees of the Cup. Analysis of this data allowed me to determine effective consumer awareness practices, ideal consumer involvement techniques, experience design, optimal marketing tactics, and strategic branding. I was also able to identify critical goals that the current Event Authority Management have set that embody their vision for future America's Cups. The ultimate objective of this research is to propose marketing strategies that will expand the influence of the America's Cup and transform it into an iconic and widely known sporting event in the United States. In previous years there has been very limited marketing invested in building awareness for the America's Cup so I plan to identify components that have brought them success in the past and then recommend new strategies and tactics that will successfully build awareness and increase viewership. These elements will then be able to be integrated into a marketing strategy and experience model for future America's Cups.
ContributorsHeisler, Alexandra Morgan (Author) / Gray, Nancy (Thesis director) / Lee, Christopher (Committee member) / Department of Marketing (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
This paper explores how changing the color of chocolate can affect its perceived taste. While color psychology and its effects on food industry marketing are widely studied, this experiment focuses on blue, red, green, and purple striped chocolates. The study conducted for this paper focuses on these four colors based on their utilization in previously conducted experiments. Each color of chocolate involved 25 participants, for a total of 100 total individuals, who each taste tested one piece and immediately filled out a survey. The survey asked demographic questions, colored chocolate preferences, and questions ranking the chocolate's appeal. While the outcome showed that blue, green, red, and purple was indeed the order of appealing colors, the study results indicate the participants' color preferences did not affect their perceived taste of the chocolate they sampled. Rather, their preference was based on experiences they associated with the color of the chocolate they tasted.
ContributorsChan, Sydney (Author) / Gray, Nancy (Thesis director) / Giard, Jacques (Committee member) / Barrett, The Honors College (Contributor)
Created2018-05
Description
This paper is a research study of the market for fine art. The art market describes the collective ecosystem of artists, sellers and buyers creating, selling and buying art. A literature review was conducted with the purpose of understanding why art is valuable. This research states that there are three primary categories of value that apply to art: Financial, Signal and Quintessential. Financial value refers to the monetary value of art. Signal value refers to the social value of owning or creating well-known art. Quintessential value describes art's ability to elicit feelings and ideas from those who engage with the art. A hypothesized model of the art market was created that associated the three entities of the art market with the three value types. Two research studies were conducted that analyzed the ways that these three value types exist in the art market. Based on the findings of the research, it was determined that all three-value types influence each entity. However, the three value types rank in terms of overall importance and impact on the entities. This new model of a three-tiered value type model applies to consumer preferences in the market for luxury items.
ContributorsBiondo, Matthew Joseph (Author) / Gray, Nancy (Thesis director) / Pomilio, Mark (Committee member) / Department of Information Systems (Contributor) / W. P. Carey School of Business (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
This paper is rooted in the field of business, with an emphasis on entrepreneurship in the fashion industry. The questions we tried to answer were the following: What are factors of success for current fashion brands? What is important to our target market when shopping? How can we deliver these attributes to our target market? How can we use our findings to create a fashion brand? First, we conducted in-depth external analysis about existing retailers including, Forever 21, Zara and Brandy Melville. After doing so, we created brand molecules and learned about other people's perceptions in relation to these existing brands. Next, using our own qualitative and quantitative research, we sought to understand the many gaps in the overall shopping experience for college students and young working professionals. Our research revealed many common themes and trends that we will integrate into our proposed business plan in efforts to fill the gaps. Through our data analysis, common trends included how our demographic learns about new fashion trends, statement pieces versus mix-and-match basics, online shopping versus in-store shopping, price sensitivity of our target market, and lastly, the quality of customer service and the store's return policy. After our extensive research and data analysis, we began to construct our brand. We propose a new business model that targets our fashion-forward consumer with a memorable shopping experience that delivers high-quality and trendiness to their wardrobe. Using the elements and trends we identified, combined with our own vision, we combined them into one brand, The Capsule Collection. ur brand will feature high-quality, reasonably priced basics ranging from everyday casual to business casual. We will have store locations in cities where there are many young working professionals, and target them through social media advertising. Our store will feature an open layout with clean and minimalistic displays, keeping everything in neutral tones and accented with plants. The goal of The Capsule Collection is to make shopping as easy and exciting as possible, and focus entirely on the customer's experience.
ContributorsMeyyappan, Rathna (Co-author) / Aggarwal, Payal (Co-author) / Gray, Nancy (Thesis director) / Samper, Adriana (Committee member) / Department of Marketing (Contributor) / Department of Information Systems (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12