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	<title>Buddhi Free</title>
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	<description>Enlightenment under the Buddhi Free</description>
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		<title>Marketing 101: STP</title>
		<link>http://buddhifree.com/2011/09/marketing-101-stp/</link>
		<comments>http://buddhifree.com/2011/09/marketing-101-stp/#comments</comments>
		<pubDate>Thu, 29 Sep 2011 16:53:50 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Star Wars]]></category>

		<guid isPermaLink="false">http://buddhifree.com/?p=790</guid>
		<description><![CDATA[When Star Wars was released in May 1977, Time magazine hailed it as &#8220;The Year&#8217;s Best Movie&#8221; and characterised the special quality of the film with the statement: &#8220;It&#8217;s aimed at kids – the kid in everybody&#8221;. Many film scholars, highly critical of the aesthetic and ideological preoccupations of Star Wars and of contemporary Hollywood cinema in general, have elaborated [...]]]></description>
			<content:encoded><![CDATA[<p>When <em>Star Wars</em> was released in May 1977,<em> Time</em> magazine hailed it as &#8220;The Year&#8217;s Best Movie&#8221; and characterised the special quality of the film with the statement: &#8220;It&#8217;s aimed at kids – the kid in everybody&#8221;.</p>
<p>Many film scholars, highly critical of the aesthetic and ideological preoccupations <em>of Star Wars</em> and of contemporary Hollywood cinema in general, have elaborated on the second part in <em>Time</em> magazine&#8217;s formula. They have argued that <em>Star Wars</em> is indeed aimed at &#8220;the kid in everybody&#8221;, that is it invites adult spectators to regress to an earlier phase in their social and psychic development and to indulge in infantile fantasies of omnipotence and oedipal strife as well as nostalgically returning to an earlier period in history (the 1950s) when they were kids and the world around them could be imagined as a better place. For these scholars, much of post-1977 Hollywood cinema is characterised by such infantilisation, regression and nostalgia</p>
<p>In the Western world, since the 1970s several generations of children have grown up with <em>Star Wars</em>, and they have maintained their attachment to the <em>Star Wars</em> universe into adulthood, passing their fascination onto their own children. Surveys taken during the highly successful theatrical release of the special edition of <em>Star Wars</em> in February 1997 indicated that a third of the audience were families, many of them no doubt parents revisiting their own childhood experiences and sharing them with their children.</p>
<p>The market research programme for the film which was initiated in the summer of 1976 soon confirmed that, judging by people&#8217;s responses to its title and a brief description of the film, <em>Star Wars</em> was most likely to appeal &#8220;primarily (to) young male moviegoers, ages 25 and under&#8221;, while its emphasis on technology and battle provoked a negative reaction from females and older people. So as to counteract such resistance, the advertising campaign which was developed from this research aimed to highlight the film&#8217;s human characters and its mythical dimension in addition to its action and special effects. The advertising was to be placed in media (such as newspapers, magazines, radio and television) which would &#8220;impact primarily against 12 to 24 year old moviegoers and, secondarily, against moviegoers ages 25 to 35&#8243;. Thus, in 1976, market researchers failed to consider <em>Star Wars</em>&#8216; potential appeal to the sub-teen audience, and Lucas himself, who gradually realised that he was in fact making a children&#8217;s movie, was reluctant to foreground this fact in the initial publicity for the film.</p>
<p>By 1976, Lucas clearly saw <em>Star Wars</em> as a children&#8217;s film, yet he didn&#8217;t say so in public. It was only in the spring of 1977, shortly before the film&#8217;s release, that Lucas finally admitted publicly that his main target audience was in fact children, both young teenagers and sub-teens.</p>
<p>Lucas and distributor Twentieth Century Fox were so reluctant to label <em>Star Wars</em> as a children&#8217;s film – the label was feared to disqualify the film in the minds of most cinemagoers. Nevertheless, after the film&#8217;s release, <em>Time</em><em> </em>magazine and much of the rest of the press immediately, and unapologetically, emphasised its tremendous appeal to children as well as its nostalgic address of adults.</p>
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		<title>Marketing 101: Consumer Behaviour</title>
		<link>http://buddhifree.com/2011/09/marketing-101-consumer-behaviour/</link>
		<comments>http://buddhifree.com/2011/09/marketing-101-consumer-behaviour/#comments</comments>
		<pubDate>Thu, 29 Sep 2011 15:50:22 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Consumer]]></category>
		<category><![CDATA[Star Wars]]></category>

		<guid isPermaLink="false">http://buddhifree.com/?p=788</guid>
		<description><![CDATA[Consumer behaviour Why do the end consumers consume what they consume? What was it about Star Wars that made it the phenomenon that it became back in the summer of 1977? Consumers evaluate alternatives in terms of the functional and psychological benefits that they offer. The marketing organization needs to understand what benefits consumers are [...]]]></description>
			<content:encoded><![CDATA[<p>Consumer behaviour<br />
Why do the end consumers consume what they consume? What was it about <em>Star Wars</em> that made it the phenomenon that it became back in the summer of 1977?<br />
Consumers evaluate alternatives in terms of the functional and psychological benefits that they offer. The marketing organization needs to understand what benefits consumers are seeking and therefore which attributes are most important in terms of making a decision. It also needs to check other brands of the customer’s consideration set to prepare the right plan for its own brand.<br />
<strong>Cultural factors</strong><br />
Universal appeal of the story. The story is based on the concept of the monomyth. Joseph Campbell&#8217;s term monomyth, also referred to as the hero&#8217;s journey, is a basic pattern that its proponents argue is found in many narratives from around the world. Campbell argues that classic myths from many cultures follow this basic pattern. This made the film easily relatable for everyone.</p>
<p><strong>Social factors</strong></p>
<ul>
<li><span style="text-decoration: underline;">Family</span>: The marketing campaign was geared towards establishing the film’s PG rating. Parents were encouraged to take their kids to the movie. In fact, an early perception the film had to fight off was that it was a children’s movie.</li>
<li><span style="text-decoration: underline;">Referance groups:</span> As evidenced by the cult following and word-of-mouth generated by the film. Aspirational groups were set up in society. Also, hugely favourable peer reviews convinced more people to watch the movie.</li>
</ul>
<p><strong>Personal Factors</strong><br />
<span style="text-decoration: underline;">Personality and self-concept:</span> The film was pitched as a thrilling ride which would be appreciated by adventurous people who wanted to watch a fresh kind of movie. Also, the movie’s sci-fi credentials were well established. It was sci-fi, but at the same time, it was more popcorn-y than <em>2001: A Space Odyssey</em>. Hence, sci-fi geeks were convinced to watch it opening day.</p>
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		<title>Marketing 101: Distribution</title>
		<link>http://buddhifree.com/2011/09/marketing-101-distribution/</link>
		<comments>http://buddhifree.com/2011/09/marketing-101-distribution/#comments</comments>
		<pubDate>Thu, 29 Sep 2011 14:35:11 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Distribution]]></category>
		<category><![CDATA[Star Wars]]></category>

		<guid isPermaLink="false">http://buddhifree.com/?p=785</guid>
		<description><![CDATA[&#8220;It wasn&#8217;t like a movie opening,&#8221; actress Carrie Fisher, who played rebel leader Princess Leia, later told Time magazine. &#8220;It was like an earthquake.&#8221; Beginning with&#8211;in Fisher&#8217;s words&#8211;&#8221;a new order of geeks, enthusiastic young people with sleeping bags,&#8221; the anticipation of a revolutionary movie-watching experience spread like wildfire, causing long lines in front of movie [...]]]></description>
			<content:encoded><![CDATA[<p>&#8220;It wasn&#8217;t like a movie opening,&#8221; actress Carrie Fisher, who played rebel leader Princess Leia, later told Time magazine. &#8220;It was like an earthquake.&#8221; Beginning with&#8211;in Fisher&#8217;s words&#8211;&#8221;a new order of geeks, enthusiastic young people with sleeping bags,&#8221; the anticipation of a revolutionary movie-watching experience spread like wildfire, causing long lines in front of movie theaters across the country and around the world.</p>
<p><em>Star Wars</em> opened initially in a mere 43 locations across the United States. An immediate sensation, it accumulated incredible per-screen averages and broke numerous box office and attendance records at the few locations lucky enough to have been playing the movie. The film industry was abuzz, and exhibitors everywhere couldn&#8217;t wait to get their hands on a print. The film&#8217;s distributor, 20th Century-Fox, had the lab cranking out prints as fast as they could as they accelerated their plans for a broad, nationwide release of the film. During the second week of release additional engagements were added in Los Angeles and Cincinnati to help accommodate high turn-away business in those markets. Still a week away from the start of the nationwide expansion, the third week saw two new engagements begin in Honolulu, Hawaii as well as an extra engagement added in the New York market. (The additional Los Angeles engagement, by the way, was booked into the Winnetka Drive-In and was presented in the newly-developed Cine-Fi car audio format.) The expanded release began with over 100 new engagements added throughout the U.S. during the week beginning June 17 (some runs began Wednesday the 15th) with additional engagements added each week (generally between 50 and 200) throughout the summer. At its peak in August and September &#8220;Star Wars&#8221; was playing in just over 1,000 theatres in the United States and Canada and was well on its way to surpassing &#8220;Jaws&#8221; (1975) and becoming the new all-time box office champ.<br />
Although there were certainly fewer movie theatres in operation during the 1970s compared with today, a &#8220;wide&#8221; release of a mainstream, non-specialized film at that time typically meant a few hundred engagements. To illustrate just how low the number of theatres was that &#8220;Star Wars&#8221; opened in, even by 1977 standards, here is for comparison a sample of some of the highly-anticipated films from the spring and summer of 1977 followed by the opening-week number of engagements for each: &#8220;A Bridge Too Far&#8221; (400+), &#8220;The Deep&#8221; (800+),&#8221;Exorcist II: The Heretic&#8221; (700+), &#8220;New York, New York&#8221; (400+), &#8220;Orca&#8221; (700+),&#8221;The Other Side Of Midnight&#8221; (500+), &#8220;Rollercoaster&#8221; (400+), &#8220;Smokey And The Bandit&#8221; (300+), and &#8220;The Spy Who Loved Me&#8221; (200+).</p>
<p>So why was &#8220;Star Wars&#8221; released to so few theatres initially when, in retrospect, the film seemed like such a sure-fire hit? Former 20th Century-Fox executive Gareth Wigan offered an explanation: &#8220;&#8216;Star Wars&#8217; only opened in forty theatres because we could only get forty theatres to book it. That&#8217;s the astonishing thing.&#8221; &#8220;No one knew it was going to be a big hit,&#8221; remembers Ben Burtt, who was responsible for &#8220;Special Dialogue &#038; Sound Effects&#8221; on Star Wars.<br />
Charles Lippincott, former Lucasfilm Ltd. Vice President for Advertising, Publicity, Promotion and Merchandising, mentioned that &#8220;If the film was redone today, on the basis of the way movies are released with a couple of thousand prints, it probably would have been unsuccessful. Theatres didn&#8217;t want the movie. We were lucky to get thirty theatres to open it.&#8221;<br />
Lippincott also remarked in that publication on the importance and prestige of getting booked in a major Hollywood theatre and the difficulty Fox faced in finding such a venue for &#8220;Star Wars.&#8221; &#8220;At that time, Hollywood Boulevard was still very important for opening films. We only got on Hollywood Boulevard because the new Billy Friedkin film (&#8220;Sorcerer&#8221;) wasn&#8217;t ready yet. It was supposed to be ready by May 25 but wasn&#8217;t, and we were given a month in the Chinese. It was the only way we got into Grauman&#8217;s.&#8221;<br />
To accommodate the opening of &#8220;Sorcerer&#8221; on 24 June, &#8220;Star Wars&#8221; was in fact moved to another theatre a couple of blocks away. But the space opera that at one time no one wanted would have the last laugh. As Friedkin&#8217;s remake of &#8220;The Wages Of Fear&#8221; failed to live up to expectations while &#8220;Star Wars&#8221; continued to perform in stellar fashion, Lucas&#8217; epic moved back to the famous Chinese beginning August 3, where it stayed until June 1978. This marked the first time a film had returned to the Chinese for a second first-run engagement in the theatre&#8217;s then fifty-year history.<br />
In contrast with the belief shared by many that &#8220;Star Wars&#8221; was a tough sell to exhibitors, others feel that at least a few people at 20th Century-Fox had a hunch the movie could be a big hit if marketed carefully and given a platform-type &#8220;prestige&#8221; release, specifically keeping the number of engagements limited to key markets during the initial weeks of release. Other movies from 1977 given successful prestige openings included &#8220;Julia,&#8221; &#8220;The Turning Point,&#8221; and &#8220;Close Encounters Of The Third Kind.&#8221; Peter Myers, Vice President of Domestic Distribution for Fox at the time, first saw &#8220;Star Wars&#8221; in a test screening three months before scheduled release. He was very impressed, and contemplated the best approach to marketing the film. &#8220;The answer,&#8221; Myers revealed to the Associated Press a few months following the movie&#8217;s opening, &#8220;was to position the picture in the proper theatres and give it the proper presentation so the people themselves could discover it and spread the word.&#8221;</p>
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		<title>Marketing 101: Promotions</title>
		<link>http://buddhifree.com/2011/09/marketing-101-promotions-3/</link>
		<comments>http://buddhifree.com/2011/09/marketing-101-promotions-3/#comments</comments>
		<pubDate>Thu, 29 Sep 2011 13:13:52 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[ATL]]></category>
		<category><![CDATA[BTL]]></category>
		<category><![CDATA[Burger King]]></category>
		<category><![CDATA[Star Wars]]></category>

		<guid isPermaLink="false">http://buddhifree.com/?p=799</guid>
		<description><![CDATA[Above the line (ATL), below the line (BTL), and through the Line (TTL), in organizational business and marketing communications, are different ways companies try and sell their products. In a nutshell, while ATL communications use media that are broadcast and published to mass audiences, BTL communications use media that are more niche focused. Both ATL [...]]]></description>
			<content:encoded><![CDATA[<p>Above the line (ATL), below the line (BTL), and through the Line (TTL), in organizational business and marketing communications, are different ways companies try and sell their products.</p>
<p>In a nutshell, while ATL communications use media that are broadcast and published to mass audiences, BTL communications use media that are more niche focused. Both ATL and BTL communications can be used to either build brand awareness or drive sales through specific offers (promotions), it is BTL communication, however, that gives the marketer the ability to tailor their messaging in a more personal manner to the audience. ATL promotions are also difficult to measure well, while BTL promotions are highly measurable, giving marketers valuable insights into their return-on-investment. These insights can then be used to inform the next BTL communication to the audience and tailor the messaging based on the feedback received.</p>
<p><strong>ATL</strong><br />
ATL is a type of advertising through media such as television, cinema, radio, print, and Out-of-home to promote brands or convey a specific offer. This type of communication is conventional in its nature and is considered impersonal to customers. It differs from BTL advertising, which uses unconventional brand-building and promotional strategies, such as direct mail, sales promotions, flyers, point-of-sale, telemarketing and printed media ( for example brochures, and usually involves no motion graphics). It is much more effective than when the target group is very large and difficult to define.</p>
<p>The various ATL activities carried out to promote <em>Star Wars</em> were:</p>
<p style="padding-left: 30px;"><strong>TV spot</strong><br />
<iframe src="http://www.youtube.com/watch?v=OlBGJLCd360" frameborder="0" width="560" height="345"></iframe></p>
<p style="padding-left: 30px;"><strong>Trailers</strong><br />
<iframe src="http://www.youtube.com/watch?v=9gvqpFbRKtQ" frameborder="0" width="560" height="345"></iframe><br />
<iframe src="http://www.youtube.com/watch?v=SpgHYWBh6tU&amp;feature=related" frameborder="0" width="560" height="345"></iframe></p>
<p style="padding-left: 30px;"><strong>Radio Spot</strong><br />
<iframe src="http://www.youtube.com/watch?v=PoPBKc_73qk" frameborder="0" width="560" height="345"></iframe></p>
<p style="padding-left: 30px;"><strong>Posters:</strong> Like the ones seen <a title="Star Wars Movie Poster #1" href="http://www.soundonsight.org/wp-content/uploads/2011/05/star-wars-poster.jpeg" target="_blank">here</a> and <a title="Star Wars Movie Poster #2" href="http://geektyrant.com/storage/post-images/OriginalTheatricalStarWarsPoster-thumb-550x869-41517.jpg?__SQUARESPACE_CACHEVERSION=1277163123947" target="_blank">here</a>.</p>
<p><strong>BTL</strong></p>
<ul>
<li><span style="text-decoration: underline;">Bubble gum trading cards:</span> aimed at increasing visibility, especially amongst kids.</li>
<li><span style="text-decoration: underline;">Burger King tie-up:</span> One of Burger King&#8217;s first major cross-promotional successes was in 1977 when they offered several collectibles including posters, glasses and sticker sets that featured scenes and characters from Star Wars. The promotion was wildly successful, and the glasses are highly sought after to this day. The relationship with George Lucas&#8217; Lucasfilm, LTD. continued through the other two films in the first Star Wars trilogy and continued through the final film and the DVD release of both trilogies.</li>
</ul>
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		<title>Marketing 101: The concept of Brand</title>
		<link>http://buddhifree.com/2011/08/marketing-101-the-concept-of-brand/</link>
		<comments>http://buddhifree.com/2011/08/marketing-101-the-concept-of-brand/#comments</comments>
		<pubDate>Wed, 24 Aug 2011 02:48:45 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Brand]]></category>
		<category><![CDATA[Brand Equity]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Star Wars]]></category>

		<guid isPermaLink="false">http://buddhifree.com/?p=764</guid>
		<description><![CDATA[Brand Equity Brand Equity Availability: DVDs, blu-ray disks, Special Editions. Releases, rereleases. Preference: Star Wars is the critical, and commercial darling when it comes to sic-fi movies. As Roger Ebert puts it, it fuses a good story with spectacle. Loyalty: As evidenced by the continued success of its sequels and Star Wars branded products. Like [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Brand Equity</strong></p>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="attachment_765" class="wp-caption aligncenter" style="width: 533px;">
<dt class="wp-caption-dt"><a href="http://buddhifree.com/wp-content/uploads/2011/08/5.gif" target="_blank"><img class="size-full wp-image-765" title="Brand Equity" src="http://buddhifree.com/wp-content/uploads/2011/08/5.gif" alt="Brand Equity" width="523" height="441" /></a></dt>
<dd class="wp-caption-dd">Brand Equity</dd>
</dl>
</div>
<ul>
<li><span style="text-decoration: underline;">Availability:</span> DVDs, blu-ray disks, Special Editions. Releases, rereleases.</li>
<li><span style="text-decoration: underline;">Preference:</span> <em>Star Wars</em> is the critical, and commercial darling when it comes to sic-fi movies. As <a title="Roger Ebert on Star Wars" href="http://rogerebert.suntimes.com/apps/pbcs.dll/article?AID=/19770101/REVIEWS/701010315/1023" target="_blank">Roger Ebert</a> puts it, it fuses a good story with spectacle.</li>
<li><span style="text-decoration: underline;">Loyalty:</span> As evidenced by the continued success of its sequels and <em>Star Wars</em> branded products.</li>
</ul>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="" class="wp-caption aligncenter" style="width: 610px;">
<dt class="wp-caption-dt"><a href="http://comicsmedia.ign.com/comics/image/article/915/915825/the-greatest-star-wars-toys-a-new-hope-20081002040713108_640w.jpg"><img title="Hans Solo Gun" src="http://comicsmedia.ign.com/comics/image/article/915/915825/the-greatest-star-wars-toys-a-new-hope-20081002040713108_640w.jpg" alt="Star Wars toy" width="600" height="390" /></a></dt>
<dd class="wp-caption-dd">Like this&#8230;</dd>
</dl>
</div>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="" class="wp-caption aligncenter" style="width: 310px;">
<dt class="wp-caption-dt"><a href="http://s3.amazonaws.com/picable/2008/04/04/138570_Star-Wars-the-Force-Unleashed-Toys_620.jpg"><img title="Star Wars toy" src="http://s3.amazonaws.com/picable/2008/04/04/138570_Star-Wars-the-Force-Unleashed-Toys_620.jpg" alt="Star Wars toy" width="300" height="309" /></a></dt>
<dd class="wp-caption-dd">&#8230;and these&#8230;</dd>
</dl>
</div>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="" class="wp-caption aligncenter" style="width: 631px;">
<dt class="wp-caption-dt"><a href="http://www.starwars.com/img/vault/collecting/20090416b/box.jpg"><img title="Star Wars Lego" src="http://www.starwars.com/img/vault/collecting/20090416b/box.jpg" alt="Star Wars Lego" width="621" height="503" /></a></dt>
<dd class="wp-caption-dd">&#8230;and even <em>Lego</em>!</dd>
</dl>
</div>
<ul>
<li><span style="text-decoration: underline;">Awareness:</span> Cult status of the movie.</li>
</ul>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="" class="wp-caption aligncenter" style="width: 586px;">
<dt class="wp-caption-dt"><a href="http://www.strangecosmos.com/images/content/136185.jpg"><img title="Stormtroopers" src="http://www.strangecosmos.com/images/content/136185.jpg" alt="" width="576" height="534" /></a></dt>
<dd class="wp-caption-dd">There&#8217;s a reason why people dress up like this.</dd>
</dl>
</div>
<ul>
<li><span style="text-decoration: underline;">Familiarity:</span> Widely popular dialogues,  images and music.<br />
&#8220;May the Force be with you&#8221;<br />
The massively iconic <em>Star Wars</em> fanfare by John Williams.<br />
<iframe src="http://www.youtube.com/embed/sFvQOc4xS2k" frameborder="0" width="560" height="345"></iframe></p>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="" class="wp-caption aligncenter" style="width: 510px;">
<dt class="wp-caption-dt"><a href="http://ecdn1.hark.com/images/000/006/204/6204/original.0" target="_blank"><img title="Darth Vader" src="http://ecdn1.hark.com/images/000/006/204/6204/original.0" alt="One of the greatest villains of all time" width="500" height="636" /></a></dt>
<dd class="wp-caption-dd">Who doesn&#8217;t know this man?</dd>
</dl>
</div>
</li>
<li><span style="text-decoration: underline;">Image and personality:</span> <em>Star Wars</em> is one of the most popular movie of all times. It has transcended into becoming one of the biggest movie franchises in history.</li>
<li><span style="text-decoration: underline;">Associations:</span> People now associate <em>Star Wars</em> with being the definitive science fiction movie. Even though <em>2001: A Space Odyssey</em> and its ilk has tremendous sway amongst critical circles, <em>Star Wars</em> managed to capture the fancy of critics and general audiences alike.</li>
</ul>
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		<title>Marketing 101: Product Hierarchy, Product Mix &amp; Concept of Core/Augmented Product</title>
		<link>http://buddhifree.com/2011/08/marketing-101-product-hierarchy-product-mix-concept-of-coreaugmented-product/</link>
		<comments>http://buddhifree.com/2011/08/marketing-101-product-hierarchy-product-mix-concept-of-coreaugmented-product/#comments</comments>
		<pubDate>Tue, 23 Aug 2011 20:30:13 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Product Hierarchy]]></category>
		<category><![CDATA[Product Mix]]></category>
		<category><![CDATA[SIMC]]></category>
		<category><![CDATA[Star Wars]]></category>

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		<description><![CDATA[Product Hierarchy Need family: What is the basic need being fulfilled? Entertainment. Product family: Leisure. Product class: What all product classes can fulfil the basic need? TV, book, movie, socializing, radio etc. Product line: What are the sub-categories under movies? What are the various types of movies one can watch? Full length feature, animated, short. [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Product Hierarchy</strong></p>
<ul>
<li><span style="text-decoration: underline;">Need family:</span> What is the basic need being fulfilled? <em>Entertainment</em>.</li>
<li><span style="text-decoration: underline;">Product family:</span> <em>Leisure</em>.</li>
<li><span style="text-decoration: underline;">Product class:</span> What all product classes can fulfil the basic need? <em>TV, book, movie, socializing, radio etc</em>.</li>
<li><span style="text-decoration: underline;">Product line:</span> What are the sub-categories under movies? What are the various types of movies one can watch? <em>Full length feature, animated, short</em>.</li>
<li><span style="text-decoration: underline;">Product type:</span> What are the sub categories under full length feature? <em>Sci-fi, romance, horror, drama</em>.</li>
<li><span style="text-decoration: underline;">Item:</span> The specific product which fulfils the need. <em>Star Wars</em>.</li>
</ul>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="attachment_759" class="wp-caption aligncenter" style="width: 559px;">
<dt class="wp-caption-dt"><a href="http://buddhifree.com/wp-content/uploads/2011/08/3.jpg" target="_blank"><img class="size-full wp-image-759" title="Product Hierarchy" src="http://buddhifree.com/wp-content/uploads/2011/08/3.jpg" alt="Product Hierarchy" width="549" height="352" /></a></dt>
<dd class="wp-caption-dd">Product Hierarchy</dd>
</dl>
</div>
<p><strong>Product Mix</strong><br />
This is used to highlight the various product types which are catered to by a company. In this case, the company is the production house behind Star Wars, 20th Century Fox.</p>
<ul>
<li><span style="text-decoration: underline;">Width:</span> How many different types of films are produced by Fox? Sci fi, animated, family, drama.</li>
<li><span style="text-decoration: underline;">Depth:</span> Under each film type, what are the various other lines? In this case, we segregate according to censor board ratings. PG, PG-13, G, R.</li>
<li><span style="text-decoration: underline;">Lines/variants:</span> Under each rating type, what are the various sources of revenue for the studio? Dubbed versions, merchandising.</li>
</ul>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="attachment_760" class="wp-caption aligncenter" style="width: 618px;">
<dt class="wp-caption-dt"><a href="http://buddhifree.com/wp-content/uploads/2011/08/4.jpg" target="_blank"><img class="size-full wp-image-760" title="Product Mix" src="http://buddhifree.com/wp-content/uploads/2011/08/4.jpg" alt="Product Mix" width="608" height="309" /></a></dt>
<dd class="wp-caption-dd">Product Mix</dd>
</dl>
</div>
<p><strong>Concept of Core/Augmented Product</strong></p>
<table width="100%" border="2">
<tbody>
<tr>
<td></td>
<td style="text-align: center;"><strong>Product</strong></td>
<td style="text-align: center;"><strong>Service</strong></td>
</tr>
<tr>
<td><strong>Core</strong></td>
<td>Entertaining space opera</td>
<td>Distribution</td>
</tr>
<tr>
<td><strong>Augmented</strong></td>
<td>Franchising and merchandising</td>
<td>DVD extras</td>
</tr>
</tbody>
</table>
]]></content:encoded>
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		<title>Marketing 101: Product Life Cycle</title>
		<link>http://buddhifree.com/2011/08/marketing-101-product-life-cycle/</link>
		<comments>http://buddhifree.com/2011/08/marketing-101-product-life-cycle/#comments</comments>
		<pubDate>Tue, 23 Aug 2011 20:18:28 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Life Cycle]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[SIMC]]></category>
		<category><![CDATA[Star Wars]]></category>

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		<description><![CDATA[As a product or brand moves through its life cycle, the company that markets it shifts its marketing-mix strategies. Introduction At this stage, companies invest in advertising to make consumers aware of a product. Because sales are low while advertising and other costs are high, the company tends to lose money during this stage. In [...]]]></description>
			<content:encoded><![CDATA[<p>As a product or brand moves through its life cycle, the company that markets it shifts its marketing-mix strategies.</p>
<p><a href="http://buddhifree.com/wp-content/uploads/2011/08/21.jpg" target="_blank"><img class="aligncenter size-full wp-image-742" title="Star Wars-Product Life Cycle" src="http://buddhifree.com/wp-content/uploads/2011/08/21.jpg" alt="Product Life Cycle" width="577" height="351" /></a></p>
<p><strong>Introduction</strong><br />
At this stage, companies invest in advertising to make consumers aware of a product. Because sales are low while advertising and other costs are high, the company tends to lose money during this stage.<br />
In the graph above, the portion till point (a) refers to the introduction phase. Till this point, <em>Star Wars</em> was released in halls, and was just gaining traction with audiences.</p>
<p><strong>Growth</strong><br />
As the company focuses on building sales, which are increasing rapidly at this stage, its advertising costs will go up. With sales going up and costs going down, the product becomes more profitable.<br />
In the graph, the portion from point (a) to point (b) represents the growth phase. Word of mouth, coupled with growing PR activities (like cast interviews), helped push ticket sales.</p>
<p><strong>Maturity</strong><br />
Normally, if a product survives the growth stage, it will probably remain in the maturity stage for a long time. Sales still grow, though at a decreasing rate, and will eventually stabilize. Advertising will be used to differentiate the product from competition.<br />
However, such is the fickle nature of the movie industry, the life cycle of a movie is dominated by the introduction and growth stages. Maturity phase is brief, and the staying power of a movie is generally determined by the length of its decline phase.<br />
The portion between point (b) and point (c) represents the maturity phase for <em>Star Wars</em>.</p>
<p><strong>Decline</strong><br />
Demand declines as more innovative products absorb the attention of the audience. Price competition becomes more intense, and profits are harder to come by.<br />
In the case of <em>Star Wars</em>, the portion between points (c) and (d) shows the decline phase. As stated earlier, the length of the decline phase in the movie industry determines the longevity of the movie. <em>Star Wars</em> has a longer than usual decline phase (around 6 months).</p>
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		<title>Marketing 101: Marketing Mix-The 4 Ps</title>
		<link>http://buddhifree.com/2011/08/marketing-101-marketing-mix-the-4-ps/</link>
		<comments>http://buddhifree.com/2011/08/marketing-101-marketing-mix-the-4-ps/#comments</comments>
		<pubDate>Tue, 23 Aug 2011 20:09:02 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[4Ps]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Star Wars]]></category>

		<guid isPermaLink="false">http://buddhifree.com/?p=745</guid>
		<description><![CDATA[The term &#8220;marketing mix&#8221; was coined in 1953 by Neil Borden. Elements of the marketing mix are often referred to as the &#8220;Four P&#8217;s&#8221;, a phrase used since the 1960&#8242;s. Product &#8211; It is a tangible good or an intangible service that is mass produced or manufactured on a large scale with a specific volume [...]]]></description>
			<content:encoded><![CDATA[<p>The term &#8220;marketing mix&#8221; was coined in 1953 by Neil Borden. Elements of the marketing mix are often referred to as the &#8220;Four P&#8217;s&#8221;, a phrase used since the 1960&#8242;s.</p>
<ul>
<li><span style="text-decoration: underline;">Product</span> &#8211; It is a tangible good or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. To retain its competitiveness in the market, product differentiation is required and is one of the strategies to differentiate a product from its competitors. In our case, the product is <em>Star Wars</em>.</li>
<li><span style="text-decoration: underline;">Price</span> – The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product. The price in our example would be the ticket price.</li>
<li><span style="text-decoration: underline;">Place</span> – Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet. Place would be cinema halls where the audience watches the movie.</li>
<li><span style="text-decoration: underline;">Promotion</span> &#8211; Promotion represents all of the communications that a marketeer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. A certain amount of crossover occurs when promotion uses the four principal elements together, which is common in film promotion. Trailers, poster all come under this.</li>
</ul>
<p>Any organization, before introducing its products or services into the market; conducts a market survey. The sequence of all &#8216;P&#8217;s as above is very much important in every stage of product life cycle Introduction, Growth, Maturity and Decline.</p>
<p>The 4Ps play an important role in creating, communicating and delivering value to the consumer. The consumption of the product depends on how well the marketing mix is able to do all that.</p>
<p>Given below is a table which shows what each element from the marketing mix does in creating, communication and delivering value.</p>
<table width="100%" border="2">
<tbody>
<tr>
<td style="text-align: center;"></td>
<td style="text-align: center;"><strong>Create</strong></td>
<td style="text-align: center;"><strong>Communicate</strong></td>
<td style="text-align: center;"><strong>Deliver</strong></td>
</tr>
<tr>
<td><strong>Product</strong></td>
<td>Yes</td>
<td>Yes</td>
<td>Yes</td>
</tr>
<tr>
<td><strong>Price</strong></td>
<td></td>
<td></td>
<td>Yes</td>
</tr>
<tr>
<td><strong>Place</strong></td>
<td></td>
<td></td>
<td>Yes</td>
</tr>
<tr>
<td><strong>Promotion</strong></td>
<td>Yes</td>
<td>Yes</td>
<td></td>
</tr>
</tbody>
</table>
<ul>
<li><span style="text-decoration: underline;">Product:</span> As the most important thing, <em>Star Wars</em>, the movie, had to create, communicate and deliver value. It has to identify a certain need of the consumer, tell the consumer that it has identified that need, and then finally, fulfill that need.</li>
<li><span style="text-decoration: underline;">Price:</span> The audience should end up with the feeling that the monetary cost to them was adequately offset by the experience of the movie.</li>
<li><span style="text-decoration: underline;">Place:</span> As the space in which the consumer consumes the movie, the place is important in delivering value.</li>
<li><span style="text-decoration: underline;">Promotion:</span> In the movie industry, more than in any other industry, promotions need to create and communicate value. A movie is a largely untested commodity, and the interest of the audience needs to be piqued. The only way to do that is through promotions.</li>
</ul>
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		<title>Marketing 101: Customer Perceived Value</title>
		<link>http://buddhifree.com/2011/08/marketing-101-customer-perceived-value/</link>
		<comments>http://buddhifree.com/2011/08/marketing-101-customer-perceived-value/#comments</comments>
		<pubDate>Tue, 23 Aug 2011 14:54:57 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Customer]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[SIMC]]></category>
		<category><![CDATA[Star Wars]]></category>
		<category><![CDATA[Value]]></category>

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		<description><![CDATA[Benefits Product: At the time of its release, Star Wars was one of the most innovative movies made. It was ground-breaking in its use of special effects, unconventional editing, and science fiction/fantasy storytelling. Though it was mistaken for a kiddie flick in its production stage, promotions helped in overturning that perception to an extent. After [...]]]></description>
			<content:encoded><![CDATA[<h1><strong>Benefits</strong></h1>
<ul>
<li><span style="text-decoration: underline;">Product:</span> At the time of its release, <em>Star Wars</em> was one of the most innovative movies made. It was ground-breaking in its use of special effects, unconventional editing, and science fiction/fantasy storytelling.<br />
Though it was mistaken for a kiddie flick in its production stage, promotions helped in overturning that perception to an extent. After that, strong word of mouth helped its ticket sales.<br />
Audiences experienced not just unparalleled visuals, but also witnessed hitherto unseen worlds. “A long time ago in a galaxy far, far away,” indeed.</li>
<li><span style="text-decoration: underline;">Image:</span> Soon after its release, <em>Star Wars</em> became the new ‘it’ thing. People who hadn’t seen it were forced to watch it because of peer pressure. There was a certain prestige attached with having seen the movie.<br />
Even to this day, <em>Star Wars</em> as a brand evokes much critical and fan love. It’s been a regular feature of must-watch movie lists (like the <a title="AFI Movie List" href="http://www.afi.com/100years/movies10.aspx" target="_blank">AFI movie list</a>). The logo is instantly recognizable.</li>
</ul>
<div class="mceTemp mceIEcenter" style="text-align: center;">
<dl id="attachment_730" class="wp-caption aligncenter" style="width: 591px;">
<dt class="wp-caption-dt"><a href="http://buddhifree.com/wp-content/uploads/2011/08/1.png" target="_blank"><img class="size-full wp-image-730" title="Star Wars Logo" src="http://buddhifree.com/wp-content/uploads/2011/08/1.png" alt="Star Wars Logo" width="581" height="350" /></a></dt>
<dd class="wp-caption-dd">The iconic Star Wars logo</dd>
</dl>
</div>
<h1><strong>Costs</strong></h1>
<ul>
<li><strong></strong><span style="text-decoration: underline;">Monetary:</span> Ticket price.</li>
<li><span style="text-decoration: underline;">Time &amp; Energy:</span> Movies, in those days, were viewed in the cinema, and not at home. So these two costs often tilted the balance.<br />
Time refers to the time spent acquiring the ticket, and then watching the movie. One also needs to factor in the time spent commuting.<br />
Energy refers to the effort taken in actually going to the hall.</li>
<li><span style="text-decoration: underline;">Perceived risks:</span> Questions about the unknown. Especially, about the quality of the film. Questions like, “Is it entertaining enough?”, “Will I understand it?”, “I hope it isn’t too mature for my children” (or conversely, “I hope it isn’t too kiddish for me”).</li>
</ul>
<p>A purchase decision is made only when the perceived benefits outweigh the perceived costs. The consumer has to benefit from the transaction, after all.<br />
In the case of <em>Star Wars</em>, innovators and early adopters got more influenced by the product benefits, while the laggards only experienced the movie when the image benefit (especially peer group ridicule) ended up outweighing any reservations they might have had.</p>
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		<title>Marketing 101: Introduction</title>
		<link>http://buddhifree.com/2011/08/marketing-101-introduction/</link>
		<comments>http://buddhifree.com/2011/08/marketing-101-introduction/#comments</comments>
		<pubDate>Tue, 23 Aug 2011 14:42:25 +0000</pubDate>
		<dc:creator>Rachit Agarwal</dc:creator>
				<category><![CDATA[Marketing 101]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[SIMC]]></category>
		<category><![CDATA[Star Wars]]></category>

		<guid isPermaLink="false">http://buddhifree.com/?p=727</guid>
		<description><![CDATA[As part of our Marketing 101 course at SIMC, we have to come up with something known as a marketing diary. It’s basically a journal of our understanding of the various marketing concepts being taught in class. Yep. Rather innovative way of promoting understanding. We basically have to choose a product, and then illustrate the [...]]]></description>
			<content:encoded><![CDATA[<p>As part of our Marketing 101 course at SIMC, we have to come up with something known as a <em>marketing diary</em>. It’s basically a journal of our understanding of the various marketing concepts being taught in class. Yep. Rather innovative way of promoting understanding. We basically have to choose a product, and then illustrate the various concepts keeping that product in mind. We’re free to choose our medium of expression as the assignment can be submitted as a Powerpoint presentation, Word document or blog. Naturally, I chose to blog about it.<br />
And naturally, my product is a movie. Actually, not just any movie, but one of the biggest and most influential movie ever to grace theatre screens—<em>Star Wars</em>.<br />
[May the Force be with me]</p>
<p><strong>Who/what is <em>Star Wars</em>?</strong><br />
For those two people on Earth who asked this question, <em>Star Wars Episode IV: A New Hope</em>, originally released as <em>Star Wars</em>, is a 1977 American epic space opera film, written and directed by George Lucas. It is the first of six films released in the Star Wars saga: two subsequent films complete the original trilogy, while a prequel trilogy completes the six-film saga. It is the fourth film in terms of the series’ internal chronology.<br />
Ground-breaking in its use of special effects, unconventional editing, and science fiction/fantasy storytelling, Star Wars is one of the most successful and influential films of all time.<br />
Produced with a budget of $11 million and released on May 25, 1977, the film went on to earn $460 million in the United States and $337 million overseas, surpassing Jaws as the highest-grossing film at the time. Among the many awards the film received, it gained ten Academy Award nominations, winning six; the nominations included Best Supporting Actor for Alec Guinness and Best Picture.<br />
The film is widely ranked among the best films of all time. Lucas has re-released the film on several occasions, sometimes with significant changes; the most notable versions are the 1997 Special Edition and the 2004 DVD release, which have modified computer-generated effects, altered dialogue, and added scenes.</p>
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