Tag Archives: global marketing

The World’s Most Expensive Pigeon!

Determining the right price for a product or service is not always easy. Organizations need to determine the strategy that is best for meeting its objectives. Does the organization want to establish a beach-head and gain market share, or reach the elite purchasers? Pricing strategies include demand-oriented, cost-oriented, profit-oriented, and competition-oriented approaches. Within these various approaches are price models that include skimming, penetration, luxury, bundling, price-lining, return-on-investment, and more. And finally, do not discount the strong appeal used with psychological pricing.

All these strategies are interesting, but how does one apply them to a unique product such as a rare Stradivari viola made in the 1700s? Or a prized Belgian racing pigeon? In the case of the Stradivari, the auction price starts at $45 million. For the pigeon (named Armando) the auction price rose to $1.4 million in approximately and hour as two Chinese buyers kept increasing their competing bids trying to obtain the world’s fastest pigeon! Armando is believed to be the most expensive bird ever to be sold at auction. The attraction to the Chinese buyer was likely due to the sport of pigeon racing becoming more popular among the countries elite.

So, next time you see a pigeon sitting on a statue on the park, consider how valuable the little guy might be.

Group Activities and Discussion Questions:

  1. As class begins, poll students about pets and pricing. Ask who has a pet and how much they paid. Ask other students if they were going to buy an animal, how much would they consider spending?
  2. Show a video about the Belgian pigeon: https://www.youtube.com/watch?v=Z2SwXWV5Rec
  3. The auction site (with additional video) can be found at: https://www.pipa.be/en/newsandarticles/reports/armando-joel-verschoots-record-breaking-pigeon-video
  4. Discuss pricing strategies (e.g., demand-oriented, cost-oriented, profit-oriented, competition-oriented, etc.).
  5. Divide students into teams. Have each team select a different price approach and determine a SMART objective for the approach.
  6. Next, have students use their selected price model to determine prices for the ordinary products (e.g., milk, gas, eggs, etc.), shopping products (e.g., shoes, jackets, etc.), and luxury items (e.g., Tiffany, Louis Vitton), and rare (e.g., Tibetan Mastiff, Stradivari viola).

Source:  Belinger, J. (19 March, 2019). Chinese buyer bids record $1.4 million for racing pigeon. CNN

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YouTube Ads Leaderboard: 2018

Starting a new year is a good time to examine the winning campaigns from last year. The most compelling advertisements and videos are ones that have a strong story, humor, inspiration, and excitement. They build a bond with the audience, and inspire thoughts and action. It’s not easy to create a short video that engages audiences and inspires them to share the video and view it more than once, so it is worth examining the top ad videos from 2018.

Here are the most viral brand videos posted to YouTube in 2018. Combined, these top five videos generated more than 172 million views last year!

  1. Amazon – Alexa Loses Her Voice (50+ million views)
  2. YouTube – Music (39+ million views)
  3. OPPO F7 (India)– Real Support Makes Real Hero (31+ million views)
  4. Nike – Dream Crazy (27+ million)
  5. Turkish Airlines – Safety Video with the LEGO Movie Characters (25+ million)

Remember, these are the ads that people choose to watch. An algorithm factors in organic and paid views, watch time, and audience retention.

Which ads do you watch online?

Group Activities and Discussion Questions:

  1. Discuss the importance of branding and brand management. How do the videos fit into branding?
  2. Divide students into teams. Have each team analyze one of the following videos with respect to target market, key message, type of appeal, etc.
  3. All ads are available at: https://www.thinkwithgoogle.com/advertising-channels/video/youtube-leaderboard-year-end-2018/
  4. When teams have completed this, have each team show the video and discuss their analysis with the rest of the class.
  5. What are the commonalities between the videos? What are the differences?
  6. What should other companies do to replicate the success?

Source:  Think with Google. YouTube ads leaderboard: Global year-end 2018.

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The Year in Google Search – 2018

It’s important for marketers to keep current on topics of interests and trends around the world. This research gives us a good idea of what people are thinking, and what they like and need. Often, past trends can also be predictors of the future.

What did the world search for in 2018? Well, besides our usual searches for love, the meaning of life, and how to vote, the citizens of the world used Google’s search engine to keep current on topics including sports, celebrities, world events, food, entertainment, and more.

The lists are not only tracked globally, they are also tracked on an individual country basis. Globally, some of the most searched for topics included the World Cup, Meghan Markle, Sylvester Stallone, Tristan Thompson, Avicii, Black Panther, Demi Lovato, Royal Wedding, election results, and Hurricane Florence.

Top searches in the U.S. also included the keto diet and unicorn cake (yes, it’s on the list). Australia was interested in bitcoin, and Canadians queried about how many ends there are in curling (ten).

Google processes two-out-of-three Internet queries each day. These queries give marketers a good snapshot of trends around the world.

Take a look – which of these topics did you search for in 2018?

Group Activities and Discussion Questions:

  1. Before showing the Google results, poll students as to what they think the top searches were in 2018. Why those topics?
  2. Next, show the Google site: https://trends.google.com/trends/yis/2018/GLOBAL/
  3. Discuss the importance of market research. What are sources that can be used? Why is tracking trends important?
  4. Divide students into teams and have each team examine a different Top 10 List topic. What are the trends from that topic?
  5. How can these trends be used to develop new products?
  6. Debrief the exercise by listing the ideas from each team.

Source:  Google Trends. Year in search 2018.

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