Should You Market to the Now or to the Future?
Posted by Jason Hensel on 2/4/2010 4:40:49 PM
Here's some new research to think about when you're planning your next conference or marketing your destination.
Dr. Danit Ein-Gar of Tel Aviv University's Recanati Graduate School of Business Studies and her American colleague Dr. Camille Su Lin Johnson, showed that decisions are not necessarily based on personality types or education, but may be strongly influenced by advertising and other environmental cues.
In their studies of about 500 participants, the researchers divided consumers into two mindsets. The "being" mindset was related to one's current state in life, while the "becoming" mindset reflected a desire to think of one's future goals. The researchers showed volunteers an advertisement that induces a "being" state of mind, using a simple slogan like, "Think of who you are right now."
Advertisements with this approach were successful in attracting consumers to products like chocolate. But those volunteers who read future-oriented ads using a simple slogan like, "Think of who you will become in the future," before embarking on a grocery run, were more likely to choose healthy products, such as fruits and granola bars.
In another study, the subjects were told they had won $1,000. Those identified as having a "becoming" mindset elected to buy practical products such as textbooks with the money, while those in the "being" mindset said they'd purchase indulgent products such as a plasma TV.
"Sometimes we are goal-driven and sometimes we are self-indulgent," Dr. Ein-Gar says of her conclusions. "But we've established that simple advertising cues can shift your mindset from one category to the other. It can determine how you shop in the supermarket, choose a snack, evaluate a new car or invest your family's fortune."
To be most effective, Dr. Ein-Gar says advertisers should determine if their product is "now" or "future" oriented, then position it to fit that mindset. For chocolate, red sports cars or Club Med hedonism vacations, advertisers should appeal to a "being" mindset and suggest immediate gratification. However, products with future benefits like gym memberships, mutual funds or health foods should appeal to the "becoming" mindset, using ads that trigger one's desire for a brighter future.
Resort: Thy Name is My Enemy
Posted by Jason Hensel on 2/2/2010 10:04:04 AM
In Shakespeare's Romeo and Juliet, the young female Capulet, speaking to her lover says, "'Tis but thy name that is my enemy."
Taking a cue from the bard, several resorts have declared that just having the word "resort" in their name can be a curse and are removing it entirely from their titles.
"The Ballantyne Resort in Charlotte, N.C., changed its name during the summer to the Ballantyne Hotel & Lodge after several corporate clients indicated it would have a better chance of landing their business if it weren't called a resort," reported Kris Hudson for the Wall Street Journal. "Same for the Westin Stonebriar near Dallas, formerly the Westin Stonebriar Hotel & Resort. Ditto the Renaissance Orlando at Sea World, no longer the Renaissance Orlando Resort at Sea World."
Still, as Juliet says in that same speech, "A rose by any other name would smell as sweet."
"Other than the name-dropping, little else has changed. The bedsheets at the Ballantyne remain Egyptian cotton, and guests still can book an appointment at the spa," Hudson reported. "Guests at the Westin Stonebriar still can get a tee time for the property's Tom Fazio-designed golf course. And those at the Loews Lake Las Vegas—a resort no more—aren't deprived of the property's 'white-sand beach' on the lake nor master sushi chef Osamu 'Fuji' Fujita's culinary creations."
Please visit the Wall Street Journal for the rest of the story.
Focus on the Fiscal VS Losing One's Soul
Posted by Michael Pinchera on 1/29/2010 1:36:22 PM
Here's a juicy, potentially controversial topic/opinion that came out of the February 2010 One+ feature profile with Dr. Devdutt Pattanaik, mythologist and chief belief officer of the massive Future Group in India.
Pattanaik says his biggest challenge is people who want progress to be measured and quantified.
“What I do is not measurable,” he says unapologetically. “Transformation can never be measured; it just happens.”
One of Pattanaik's co-workers continues:
“People are always asking about whether these methods have boosted profits or helped attract more business, but that’s not the point. The day we measure everything in terms of money, that’s the day we cease to have soul.”
Conan vs. Leno
Posted by Jessie States on 1/28/2010 3:57:21 PM
The silly research out there never ceases to amaze me. But if
data firm Knowland Group hadn't asked event planners to
choose between Jay Leno and Conan O'Brien, how would I
sleep at night? Lest you swoon from all-too-bated breath, the
results are in. Sixty-three percent of planners would prefer
Conan keynote their events. Among Leno supporters, 65
percent would actually prefer David Letterman or Jimmy Kimmel.
Preparing for the Job Market Ramp Up
Posted by Jason Hensel on 1/25/2010 4:10:18 PM
You do know that everything is cyclical, right? And knowing that, you do realize that it will soon be an employees' market again, right? If not, spoiler alert!
Sorry to ruin the surprise, but for those not in the know, there are several ways employees can strengthen their résumés in preparation for when the job market ramps up, Sarah E. Needleman reports for the Wall Street Journal. Examples include gaining new skills, increasing your network of contacts and moving into a parallel position within your company.
Please visit the Wall Street Journal for the rest of the story.
Your Limited Friendship Capacity
Posted by Michael Pinchera on 1/25/2010 2:11:30 PM
Online social networking is becoming so much more intriguing now that scientists are getting all involved.
OK, so you read the January One+ profile on IBM's Dr. Ching-Yung Lin and about how he found a way to apply a price tag to your social connections (US$948 per contact), which is slamming open the door to the economics of social networking.
1,000 friends on Facebook at $948 each--sounds nice, almost a cool million dollars.
Well, now scientists are saying that the neocortex limits the number of friends we can manage to 150--so a mere $142,000.
Autograph Collection
Posted by Jessie States on 1/25/2010 1:35:47 PM
Seven Kessler Collection hotels will join Mariott International Inc.'s new Autograph Collection, featuring independent, upper-scale and luxury hotels and resorts from around the world with distinctive personalities. All seven hotels are set to join the Autograph portfolio by the end of April.
The seven properties are:
- The El Monte Sagrado, Taos, New Mexico
- The Grand Bohemian Hotel, Asheville, North Carolina
- The Mansion on Forsyth Park, Savannah, Georgia
- The Bohemian Hotel Riverfront, Savannah, Georgia
- The Casa Monica Hotel, St. Augustine, Florida
- The Grand Bohemian Hotel, Orlando, Florida
- The Celebration Hotel, Orlando, Florida
With plans to add more than 25 properties in 2010, the Autograph Collection provides Marriott with another attractive platform for future global growth. Comprised of independent properties maintaining their own brand names and personalities, the hotels will be featured on Marriott.com and will participate in Marriott's guest loyalty program.
OT: Some Celebrity
Posted by Jessie States on 1/21/2010 1:13:25 PM
TripAdvisor has released its list of top 10 celebrity-owned hotels. So without further ado, drum roll please...
1. Rustic Luxe with Robert Redford: Sundance Resort, Sundance, Utah
Ranked #1 in Sundance, Utah - Average nightly rate: $601
2. City Chic with Robert De Niro: The Greenwich Hotel, New York
Ranked #104 in New York, New York - Average nightly rate: $579
3. Rejuvenation Retreat with Olivia Newton-John: Gaia Retreat & Spa, Brooklet, Australia
Ranked #1 in Brooklet, Australia - Package deals start at $1,825 for two nights, shared accommodation for two people
4. In the Jungle with Francis Ford Coppola: Blancaneaux Lodge, San Ignacio, Belize
Ranked #5 in San Ignacio, Belize - Average nightly rate: $317
5. Life's a Beach with Gloria Estefan: Costa d'Este Beach Resort, Vero Beach, Fla.
Ranked #7 in Vero Beach, Florida - Average nightly rate: $320
6. Haute Travel with Donatella Versace: Palazzo Versace, Main Beach, Queensland
Ranked #1 in Main Beach, Queensland, Australia - Average nightly rate: $538
7. On a Mission with Clint Eastwood: Mission Ranch, Carmel, Calif.
Ranked #2 for Specialty Lodging in Carmel, California - Average nightly rate: $200
8. Camp Fever with Kate Pierson: Kate's Lazy Meadow Motel, Mount Tremper, New York
Ranked #1 in Mount Tremper, New York - Average nightly rate: $150
9. Counting Sheep with John Malkovich: The Big Sleep Hotel, Eastbourne, U.K.
Ranked #8 in Eastbourne, United Kingdom - Average nightly rate: $92
10. Rockin' Out with Bono and The Edge: The Clarence, Dublin
Ranked #74 in Dublin, Ireland - Average nightly rate: $270
Use Your Imagination
Posted by Jason Hensel on 1/21/2010 10:28:52 AM
There's a perception, Roger Martin says, that good management is tied to good measurement. It's something that provides security and offers managers control. Martin, the dean at the Rotman School of Management at the University of Toronto, posits that "by sticking simply to what we can measure, we come to imagine a small and constrained world in which we are prisoners of a 'reality' that is in fact an edifice we've unknowingly constructed around ourselves."
Martin suggests that people need to get away from the old thoughts and sayings about management and measurment, and he proposes a new way of thinking.
"If you can't imagine it, you will never create it." The future is about imagination, not measurement. To imagine a future, one has to look beyond the measurable variables, beyond what can be proven with past data. The world is expansive and the possibilities are endless. For the measurement types, the world is a brutal place, full of nasty surprises that are impossible to predict. That is why any expression that starts with "if you can't measure it" is dangerous for your managerial health.
What are your thoughts?
Unused Vacation Time is Wasteful
Posted by Jason Hensel on 1/19/2010 9:28:55 AM
Sixty-six percent of U.S. employees did not use all of their vacation time in 2009, according to a survey by Right Management. Fears about job security and pressure to do more in streamlined operations may have been behind many skipping vacation time.
"All employees should make it their New Year's resolution to use allocated vacation during the year," said Douglas J. Matthews, president and COO at Right Management. "Not doing so can lead to increased stress and related health issues, negatively impacting performance and productivity. Conversely, taking vacation can boost creativity and rejuvenate overall energy and focus."
Matthews cautions that the physical and psychological conditions in which people show up for work every day can have a real impact on workforce performance.
"They can influence turnover and retention, absenteeism, frequency of health claims, safety and a host of other HR issues," he said. "Using vacation time is important to maintain balance and wellness.
"This past year has been a hectic one for employers and employees alike," he continued. "Cutbacks, restructurings, mergers and more have all contributed to heavy workloads. Employees likely have not taken their full vacation for fear of job security, as well as inadequate support to fill in for them when they are out. Today, many organizations have cultures that demand for people to be 'on' all the time. And technological advancements continue to enable this 24/7 mindset."
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