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Madonna - Strategy Success and Business Development
Transcript of Madonna - Strategy Success and Business Development
Her entire name is Madonna Luise Ciccone
Her career began in the music industry in 1986
- singer (12 Album, 9 World Tour)
- song writer
- actress (22)
- director (12)
- entrepreneur History of the Brand In 2008, Billboard Magazine ranked Madonna at number two, on the 100 All-Time Top Artists
Inducted into the Rock and Roll Hall of Fame in 2008
In 2012 she was crowned the 'Greatest Woman In Music' by VH1
Sold more than 300 million records worldwide “The act of designing a company’s offer and image so that it occupies a distinct and valued place in the target customer’s minds.” (Kotler & Keller, 2006).
Constantly repositions and reinvents her brand
NO single brand positioning strategy
Most pop stars target a narrow age demographic,
---> Madonna's target audience age is much broader.
"The queen of reinvention." (BBC, 2008). Requires consumers to retrieve her brand when they think of pop music, or what songs they want to download to listen to on their iPod. (Keller, 2008).
Madonna has achieved an exceptionally high level of brand awareness. Due to a number of factors
the span and consistency of her popularity
the length of her career
her image and persona changes
Her sustained popularity has also meant high levels of exposure spanning different generations of pop music fans and resulting in a more recognizable brand From early in her career, Madonna made reinvention a part of her brand image.
Madonna has strong brand associations to radicalism, reinvention and innovation in the minds of consumers.
Her brand associations are not unique to her but she has taken ownership of them.
Other brands who attempt reinvention or radicalism strategies are often likened to her or accused of copying her e.g. Lady Gaga (NME, 2012).
Her ownership of her brand associations gives the benefit of unique brand associations, this increases her brand equity. (Pitta & Katsanis, 1995). • Large, diversified and loyal fan base.
• Significant market share.
• Strong & unique brand associations.
• Strong brand equity.
• Current collaborations.
• Well established brand name
• Respected brand name •Collaborations with other, younger artists
•Collaborations with older artists so to not lose her older fan base
• Expand into markets such as perfume targeted for a mature and young audience
•Placing a larger emphasis on non-conventional advertising such as promotion on Twitter and Facebook
•Sponsorship: Sponsoring young and upcomming artists or large scale gaming events • Age
• Finite nature of positioning strategy
• Diminishing ability to gain new fans
• Interchangeability of Madonna the brand and Madonna the person
• Alienating a fan base when she continually reinvents herself for the younger target market
• New contemporary artists are taking her brand position and more relatable •Competitors (younger imitators)
•Artists that are more relevant to the target market – especially the teen market
•Other fashion brands in the market
•New young and upcoming performers Key Marketing Challenges Estimated personal net worth of $US500+ million (Forbes Magazine, 2012) Celebs Behind the Brand Madonna
Business Development "Those trademarkable devices that serve to identify and differentiate the brand." (Keller, 2008).
They should be:
Madonna has been very successful in ensuring that all of her brand elements meet these criteria. Brand Awareness Brand Recall Brand
Recognition www.madonna.com 5+7= (cc) image by anemoneprojectors on Flickr Recommendation 1: ensure that her words and actions remain carefully aligned with her brand associations and positioning strategy. Recommendation 2: focus on the older loyal fans and continue to expand her brand into other areas Key Associations Innovation Radicalism Reinvention Four main areas of distribution for her brand:
Music – iTunes, Amazon, Music Videos, Tours/Concerts
Social Media – Madonna Website, Facebook Fan Page, Twitter, Youtube Channel
TV and Movies
Clothing and Fitness - Material Girl, Truth or Dare by Madonna, Hard Candy Fitness British Broadcatsting Corporation (BBC News) (2008), retrieved from: http://news.bbc.co.uk/2/hi/entertainment/7361646.stm
Brown, S, 2003,’ Material Girl or Managerial Girl? Charting Madonna’s brand ambition’, Business Horizons, 46,4, pp. 2-10, Business Source Premier, viewed 19 May 2012
Casserly, 2012,'Madonna's Mighty Menopausal Comeback', last accessed May 12 2012, http://www.forbes.com/sites/meghancasserly/2012/03/27/madonnas-mighty-menopausal-comeback-still-sexy-or-still-selling-sex/
Keller (2008) Strategic Brand Management, 3rd edition, Upper Saddle River, NJ: Prentice-Hall.
Kotler & Keller (2006) Marketing Management, 12th edition, Upper Saddle River, NJ: Prentice-Hall.
Madonna (2012), retrieved from: http://www.madonna.com
Madonna Issues ‘Dare’ to Industry’ 2011, WWD: Women’s Wear Daily, 202, 94, pp.1-6, Business Source Premier, viewed 19 May 2012
New Musical Express (NME) (2012), retrieved from: http://www.nme.com/news/madonna/61438 Presents References cont.
NY daily news (2012) last accessed 9th May 2012 retrieved from http://articles.nydailynews.com/2012-04-17/news/31357167_1_whiskey-cologne-smell
Pitta & Katsanis (1995) Understanding brand equity for successful brand extension, Journal of Consumer Marketing, Vol 12, Iss 4, pp 51-64.
Pr Newswire (2012) last accessed 9th May 2012 retrieved from http://www.prnewswire.com/news-releases/madonnas-second-hard-candy-fitness-center-now-open-for-workouts-in-moscow-136221038.html
Rosman, 2012, 'Madonna Looks to Facebook, Twitter to Sell New Album ‘MDNA’, last accessed May 12 2012, http://blogs.wsj.com/speakeasy/2012/03/26/madonna-looks-to-facebook-twitter-to-sell-new-album-mdna/
Stack, 2012, Entertainment Weekly, Glee' Exclusive: Madonna is on board! Is Adam Lambert next?, last accessed 9th May retrieved from http://music-mix.ew.com/2009/10/21/glee-exlcusive-madonna-is-in-is-adam-lambert-next/ In 1978 she dropped out of college and relocated to NYC
First Rock band "Breackfast Club"
Her debut single "Everybody" in 1982
Her debut Album "Madonna" Madonna's Portfolio Value of the Brand Ansoff Matrix Competitors Lady Gaga vs Madonna Britney Spears Kylie Minogue M. Jackson vs Madonna During the 80's Madonna’s style was mimicked by many and her style became a fashion trend
selling 21 million copies of her first single alone
Best-selling female rock artist of the 20th century 1980 STREET - KID STYLE
1990 HARD CORE SEXUALITY
2000 MADONNA WITH CHILDREN 1983 1990 1984 1985 1989 1986 1992 1993 1987 1994 1998 2000 2001 2005 2004 2003 2006 2008 2012 Nicki Minaj MUSIC
World Tour (9) Merchandising Product, including: iPhone apps, books, calendars, posters, accessories, collectibles, home decor, iPhone/iPod/laptop skins and DVD/Blu-Ray videos. Films
As Leading Role (19)
1979 A Certain Sacrifice
1993 Body of Evidence
1993 Dangerous Game
2002 Die Another Day
2000 The next Best thing The English Roses Pepsi Advertising Other products associated with the brand include:
- clothing lines
- gym franchise