ALL POSTS BY: Hannah Johnson
Innovation + Entrepreneurs @Owen
A few weeks ago I received a meeting invite from one of my favorite Owen Professors: David Owens. He’s our resident innovation guru and soon to be published author. He had invited a small group of students to meet with two representatives from the Financial Services Forum to discuss innovation and entrepreneurship. Plus, he was offering free lunch; so obviously I went.
I did a little research prior to the meeting to answer some questions like: What is the Financial Services Forum? What do they do? Why would they be interested in talking to me?
According to their website: “The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 20 of the largest and most diversified financial services institutions doing business in the United States. The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.”
Basically, they were asking us for our ideas on how public policy can help promote small business creation in the U.S.
A Day in the Life of a First Year MBA Marketing Student
8:00 – 8:30 am: Wake up! As the first year progresses, you get to pick more and more of your classes and set your own schedule. I like to schedule my first class for 9:40 am. It allows me to keep my usual late hours, but I still get to school at a decent time to maximize the day.
9:05 am: If it’s really cold or there’s some sort of precipitation, this is the time when I rush down to the bus stop. If not, I’ll ride my bike.
9:20 am: Arrive at school, put my lunch in one of our handy refrigerators, and drop my extra gear in my locker.
9:40 am: Head to Class! Today in Strategy we’re discussing Blue Ocean Strategy and the latest Capstone results. Capstone is a computer simulated business competition and one of the final deliverables of the class. Working with our assigned teams of 4 to 5 students, we are running a sensor company with stiff competition – our classmates and the computer.
An Open Letter To The People Who Run American Idol
February 23rd, 2011
Dear American Idol Producers,
I hate to say it, but most of us have stopped drinking the Kool-Aid. Wait, too soon? Okay, I take that back.
But the point remains the same. No one who wins American Idol is actually the winner. Remember Taylor Hicks? No. Remember Chris Daughtry? Yes. They were both contestants on season five of American Idol. Taylor Hicks took home the gold while Chris Daughtry took home whatever precious metal they give to fifth. Since getting the early boot, Chris and his band Daughtry have sold more albums than Taylor Hicks or any other American Idol contestants except Kelly Clarkson and Carrie Underwood. Just to re-cap, in 10 seasons of the show, only those 2 winners have actually been winners, at least on the basis of album sales.
A common understanding in marketing is that things people say in a market survey or focus group are not always the best indicators of their actual behaviors. For example, a consumer can tell you that they like a product at first glance and would be inclined to purchase it. Then the product hits the shelf and people are not buying it like they said they would. Sometimes these failures are epic- think New Coke or Heinz’s Purple Ketchup. This is the primary goal of the marketer- to determine which stated consumer preferences they will actually act on when economic tension hits the equation.
Selling More Than Albums
If you listened to pop music during the 90’s, then you’ve heard Christina Aguilera’s music. She has been wildly successful with 4 Grammys and more than 43 million albums sold. When she first appeared on the scene, people thought she was another Britney Spears copycat with her bubble gum pop music. Later, Aguilera was able to generate her own buzz and establish herself as a pop icon with a different sound. He sophomore album, Stripped, could best be described as raw and provocative. She dyed her normally blonde hair dark, wore risqué clothing, and shook her hips while singing about getting “Dirrty.” The album was a hit and even though she greatly changed up her image, it was accepted by her fans.
Her most recent album, Bionic, was another re-invention of Aguilera. This time, she dyed her hair platinum blonde, wore skin tight cat suits in promo shoots, and her first single told of “kissing all the boys and girls” on the dance floor. Unfortunately, the recipe was a failure and Bionic was certified a flop; Aguilera isn’t even going to tour to promote her album. To make matters worse, media outlets complained that Aguilera was trying to be too much like Lady Gaga with her party attitude and crazy clothes. Aguilera has spent more time defending her Lady Gaga look-a-like style than selling singles in the past 6 months.