Renting is growing twice as fast as home ownership, census reveals

Posted by & filed under Consumer/Buyer Behavior, Marketing Research, Marketing Strategy.

Description: 10 million households own their home, while 5 million rent. But the gap is narrowing

Source: CBC.ca

Date: Sep 20, 2022

Link: https://www.cbc.ca/news/business/census-housing-data-1.6589842

Questions for discussion:

  • What does the report say about home ownership versus renting and the factors influencing Canadians?
  • What does this mean for businesses selling real estate and how should they adjust their strategies to reflect this information?

The Rise of Non-Alcoholic Beers

Posted by & filed under Consumer/Buyer Behavior, Innovation, Integrated Marketing Communications (IMC), Marketing Research.

Description: “While there used to be stigmas attached to not drinking, that has really changed dramatically in the last 4 or 5 years.” How did the the non-alcoholic beer market go from flavorless to a market forecast to reach $23+ billion in 2025? Rosalie e’Silva and Kate Krader explain. (Source: Bloomberg)

Source: Bloomberg.co – video report

Date: Sep 19, 2022

Link: https://www.bloomberg.com/news/videos/2022-09-19/the-rise-of-non-alcoholic-beer?srnd=premium-canada

Questions for discussion:

  • What do you think explains the success of this product category?
  • Who is the target market?
  • What do you this about the longer term investment in non-alcoholic brewing?

Mark Cuban Says the Worst Career Advice Is ‘Follow Your Passion.’ What Should You Do Instead?

Posted by & filed under Consumer/Buyer Behavior, Integrated Marketing Communications (IMC), Marketing Research.

Description: Turns out it’s something you already do. You just need to turn it up a notch.

Source: INC.com

Date: Sep 21, 2022

Link: https://www.inc.com/jeff-haden/mark-cuban-says-worst-career-advice-is-follow-your-passion-what-should-you-do-instead.html?utm_source=newsletters&utm_medium=email&leadId=261346&mkt_tok=NjEwLUxFRS04NzIAAAGG_s0bJ4rgO6-Ha4lfXKGHNmrUVBgsf9USSn96kvl21rxRpUyVC1h5Fm2L9rB4yzkHDbrt0menfW10UTIdXAGI6Xw1jRVgdymDiaKb9w

Questions for discussion:

  • What is Mark Cuban’s advice?
  • Do you think it applies well to most people?
  • Do you think most people follow this advice?

For Gen Z, TikTok Is the New Search Engine

Posted by & filed under Consumer/Buyer Behavior, Innovation, Integrated Marketing Communications (IMC), Market Segmentation, Marketing Research, Marketing Strategy, Product Brands and Branding, Relationship Marketing.

Description: Need to find a restaurant or figure out how to do something? Young people are turning to TikTok to search for answers. Google has noticed.

Source: NYTimes.com

Date: Sep 16, 2022

Link: https://www.nytimes.com/2022/09/16/technology/gen-z-tiktok-search-engine.html?

Questions for discussion:

  • Why is TikTok gaining ground as a search vehicle?
  • How should marketers deal with this development from a strategic communications point of view?
    ​

Consumers Ready To Spend — Well, Maybe

Posted by & filed under Consumer/Buyer Behavior, Marketing Research, Relationship Marketing, Retail Marketing.

Description: In difficult economic times, marketers may expect to see consumers do less shopping. Some consumers are pulling back and many are changing habits, but some are not. Recent studies from Morning Consult and Coveo found that a lot depends on the products and the consumer’s generation — apart from rising prices on many items.

Source: MediaPost.com

Date: Sep 15, 2022

Link: https://www.mediapost.com/publications/article/377782/consumers-ready-to-spend-well-maybe.html

Questions for discussion:

  • What does the report suggest to you about consumer behavior attitudes at this time?
  • How should marketers make use of this information?

Bed Bath & Beyond is closing about 150 stores. Here’s a map of ones on the list so far

Posted by & filed under Consumer/Buyer Behavior, Integrated Marketing Communications (IMC), Marketing Strategy, Product Brands and Branding, Relationship Marketing, Retail Marketing.

Description: Bed Bath & Beyond has announced dozens of the roughly 150 stores it plans to close. The struggling home goods retailer released its plans last month to shutter the “lower producing” locations, representing about 20% of its namesake stores.

Source: CNBC.com

Date: Sep 15, 2022

Link: https://www.cnbc.com/2022/09/15/bed-bath-beyond-closing-150-stores-map-of-ones-on-the-list-so-far.html

Questions for discussion:

  • From a marketing point of view, what are the ramifications of this decision?
  • How do you suppose customers and suppliers will react?
  • What would you advise management do at this time?

Patagonia founder to give apparel company to trust, direct profits toward climate crisis fight

Posted by & filed under Consumer/Buyer Behavior, Ethics, Global Marketing, Integrated Marketing Communications (IMC), Marketing Strategy, Product Brands and Branding, Retail Marketing, Supply Chain.

Description: Yvon Chouinard, the billionaire founder of outdoor apparel brand Patagonia, said on Wednesday he is giving away the company to a trust that will use its profit to fight the climate crisis.

Source: CBC.ca

Date: Sep 15, 2022

Link: https://www.cbc.ca/news/business/patagonia-founder-trust-climate-crisis-1.6583492

Questions for discussion:

  • What do you think customer reaction will be to the decision?
  • Should marketers at the company exploit this decision and if so, how?

Fred Franzia, creator of ‘Two Buck Chuck’ and champion of affordable wine, has died

Posted by & filed under Consumer/Buyer Behavior, Integrated Marketing Communications (IMC), Marketing Research, Pricing, Product Brands and Branding, Retail Marketing.

Description: Fred Franzia, the man behind the famous “Two Buck Chuck,” died on Tuesday at age 79.

Source: NPR.org

Date: Sep 15, 2022

Link: https://www.npr.org/2022/09/15/1123070279/fred-franzia-two-buck-chuck-wine-bronco-dies

Questions for discussion:

  • What does the article say about the marketing of wine and consumer perception of price, in particular?
  • Do you think $2 wine could sell as well in a regular grocery store as it does at Trader Joe’s?

Peloton co-founders John Foley and Hisao Kushi are leaving the company in a broad executive shakeup

Posted by & filed under Consumer/Buyer Behavior, Marketing Strategy, Product Brands and Branding.

Description: Peloton on Monday announced the resignations of two of the company’s founders and another top executive, marking the end of an era for the struggling fitness-equipment company as CEO Barry McCarthy dramatically reshapes the business.

Source: CNBC.com – video report

Date: Sep 13, 2022

Link: https://www.cnbc.com/2022/09/12/peloton-co-founders-john-foley-hisao-kushi-are-leaving-company.html

Questions for discussion:

  • What has happened at the firm that explains the restructuring of management?
  • What are the challenges facing the top managers?
  • What has the company done so far to mitigate the damage done to the brand and stock value?
  • What would you advise management do at this time?
  • Would you be an investor?

TikTok is upending the music industry and Spotify may be next

Posted by & filed under Consumer/Buyer Behavior, Global Marketing, Integrated Marketing Communications (IMC), Marketing Research, Marketing Strategy, Relationship Marketing.

Description: Artists have soared to the top of the charts because of trends on TikTok, muddling the music industry’s business model.

Source: CNBC.com – video report

Date: Sep 05 , 2022

Link: https://www.cnbc.com/2022/09/05/tiktok-is-upending-the-music-industry-and-spotify-may-be-next.html

Questions for discussion:

  • What is happening to the music industry as a result of TikTok?
  • How has marketing changed?
  • What role is there for record companies given the changes and involvement of fans and artists influencing audiences?
    ​