By: Kara Johnson
Remember that guy? Who came in second at the last New York Marathon? Neither do we. Winning is everything.
Catches your attention, no? This is the script of one of the new commercials aired by Jacoby and Meyers, a full-service law firm. In a new marketing campaign, Jacoby and Meyers is taking a notably different approach to their personal injury practice TV advertisements than they have in the past. We’ve all seen the advertisements for personal injury lawyers (and probably rolled our eyes at them) where a tough talking lawyer informs us that we have options if we’ve been injured in an accident and then promises us revenge and justice if we just call their office.
By now, most people don’t pay much attention to these advertisements, since all of them seem the same and have the same message, regardless of the law firm. For the majority of the population, they probably aren’t even relevant anyway. Psychology shows that people are much more likely to listen to a message and be receptive to a message if it personally relates to them. Therefore, due to the repetitive nature and lack of relevance, most people probably tune these commercials out. However, by changing the message and format of their advertisements and adding in some humor, Jacoby and Meyers can potentially separate themselves from the other advertisers and stimulate renewed attention to their message.
Rather than having a tough talking lawyer assault you from the TV screen, the three new Jacoby and Meyers commercials are devoid of people. They are comprised of a simple black background with clever statements in white lettering; the advertising message is narrated by a male voice with music playing in the background. What stands out the most in these commercials from previous Jacoby and Meyers commercials is that they employ humor in their messages. In addition to the commercial message described at the beginning of this blog, another commercial shows portraits of the historical figures Horatio Seymour, Charles C. Pinckney, Hugh L. White and Lewis Cass (all losing opponents in Presidential elections) while “Hail to the Chief” plays in the background. Then, a voice says “Presidential elections are like lawsuits. You’re nobody unless you win.” The third commercial states, “They say it doesn’t matter if you win or lose. As long as you tried your best. They probably weren’t rear-ended by a truck.”
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By: Randall Warlick
Nowadays, many movies are released on both regular 2D screens and the more expensive 3D or IMAX screens at the same time. For example, The Dark Knight was released on July 18, 2008. On that day, the movie was released on both regular screens and IMAX screens; you could choose which version you wanted to see. This is rather common, especially with 3D movies, which are becoming more and more ubiquitous. However, Paramount did something a little different with the most recent Mission Impossible movie. For the first time in the US, the IMAX version of the movie was released a full 5 days before the regular version (*1).
Before the movie was released, there were likely people who were already planning on seeing the movie in IMAX, so for them, this news was not disruptive in any way. But what about the people who wanted to see the movie as soon as they could, but did not want to pay the higher price for the IMAX ticket? Paramount was undoubtedly hoping that these people would bite the bullet and pay the extra cash to see the movie sooner. From a marketing perspective, this approach was very clever, because chances are, people will always do just that: they will bite the bullet to see an anticipated movie earlier, and they will see the movie in IMAX, even though they would not have done that if the regular version were available for viewing.
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By: Tumini May Sekibo
The April 2011 issue of HR Magazine featured an article by Judith Droz Keyes, discussing the issue of performance reviews in the work place. She makes a strong case against maintaining an inefficient system of reviews that is more of a headache than it’s worth.
Firms use performance reviews to give employees an accurate assessment of their job performance. They are also used to measure merit-based compensation, and they can inform promotion and layoff decisions. They are useful as a warning to poor performers about the negative consequences of a failure to improve. But, most importantly, they were adopted to address the need to show objectivity in relation to the advent of the nondiscrimination laws in the 1960s and 1970s.
The problem lies in the execution and consequent uselessness of the process. Less-than-honest feedback is the norm, as supervisors are not trained to administer said reviews, neither do they want to devote the time it takes to produce a quality review, not to mention the confrontation that such reviews require. This then results in lack of objective feedback.
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Dr. Steve Westberg is a partner for Hiner and Partners, a market research firm and is the MHB professor for PSYC 505 – Market Research.
Dear MHB Class of 2012,
Congratulations on completing your course of study in MHB. Marketing is now both art and science, and your coursework has prepared you for both sides of this coin. From my experiences with you in class, I am confident that you will all achieve your career goals – just be yourselves, apply what you’ve learned (creative thinking backed by factual information), and have fun along the way.
By: Jeanne Ngo
Individuals who cannot master their emotions are ill-suited to profit from the investment process.
—Benjamin Graham, father of value investing
Instead of discussing marketing, in today’s post I want to discuss a different, yet closely related field: finance. Yes, finance isn’t the love of many of our lives, but money does happen to be a common theme among everyone, marketers or not. I came across an interesting article regarding an emerging field called “behavioral finance.”
The article mentions that many investment bankers tend to make irrational decisions. Among stock traders, since wins contribute to continuously higher testosterone levels, traders eventually start making irrational decisions once the market starts going down. They run on such a high from the winnings in the morning that they do not stop and cash in on losses when signs are clear that the market is running downward (Source).
John Coates, a senior research fellow in neuroscience and finance at the University of Cambridge, believes the solution to these investment risk problems is adding more women and older men to the stock trader mix.
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