The power of love
Posted by dearsonu on March 19, 2007
The business houses are loving this business of love. The V’day has cut across all barriers of caste language, religion and even age. Everybody, everywhere is celebrating it. If in 2001 people were spending on an average $82 on this day, then till last year the average spend had gone up to $100. What’s even more interesting – than the fact that the day is snowballing into a big event – is, the people in the age group of 45-54 are spending more and more each year on this day. While the 18-24 year olds actually are decreasing their spends! No wonder marketers whose target audience falls in the 40+ age group are promoting their goods like never before. In 2006, for the first time, De Beers launched its Valentine’s Day marketing campaign. The campaign was inspired from classic romance novels and ran during the two weeks leading up to Valentine’s Day.
While Star Plus may still be wondering if it was a good idea to run Kaun Banega Crorepati with King Khan, the department store ‘Lifestyle’ is sure its Valentine’s Day contest Kaun Banega Pati will generate a greater audience participation than KBC’s TRP.
So be it Papa Murphy’s heart shaped pizzas in Vancouver (Canada) or the British Heart Foundation launching its online campaign of Valentine’s Day to encourage donation, when it comes to matters of the heart, savvy marketers know there is a lot of room for creativity and profits. After all, this is one day when you can shop to your heart’s content! “That’s the magic of the marketing of love.”
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Source : IIPM Editorial, 2007
An IIPM and Malay Chaudhuri – Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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