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Transcript of DISNEY
Founded on October 16, 1923, by Walt Disney and Roy Disney.
Started with simple black and white cartoons.
Ventured into feature films, television networks, theatre production, theme parks, consumer products and online presence.
Greatest challenge is to keep a 90 year old brand relevant
Q. What does Disney do to connect to its core customers?
A brand of trust : a platform innovation and new consumers
Disney difference : The standards that sets Disney apart from its competitors.
Use of emerging technology : One of the first to begin regular podcasts of tele-shows and company related news.
Disney's website provides insight to movie trailers.
Virtual theme park
Exploring more ways to make Mickey mouse exciting and text friendly
Q.2 What are the risks and benfits of expanding the Disney Brand in new ways?
Among the most trusted brands: Risk minimization
Focus on difference: Value creation dynamic; quality & recognition.
Introduction of franchise.
Consumers try their products before disliking it.
Swedish company: selling pens to retail furnishing stores; a Global Brand
1000 stores around the world
Products based on geography and cultural difference
Example of China: year of the rooster
Larger glasses for US consumers
Design of wardrobes: Meeting needs
Store design in California
Q.1 What are some of the things IKEA is doing right to reach consumers in different markets? What else could it be doing?
Products for different section of society.
According to the need of market.
Diversifying product line.
Stylish and customizable products
Wide range of products
Market research is a space for innovation
The things IKEA could do further:
Point of View
- Understanding scope and structure of market; anticipate changes and threats.
Analyzing the trend
of market to solicit facts and vital information; Helpful in designing marketing strategies.
Research and development
: Affordability; innovative use for discarded furniture materials
: Right manufacturer for right product.
Q.2 IKEA has essentially changed the way people shop for furniture. Discuss the pros and Cons of this strategy.
Unique brand identity
Impulsive shoping experience
One way floor format design
Reduction of prices annually by 2-3%
Location: 50 mile round trip radius
Furniture assembling: Difficulty for old, disable and handicapped and sometimes even for normal people.
Compromising quality for cost: Reduction of durability of IKEA products.