3.6 Cross Industry Entertainment Part 2

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Из курса от партнера Yonsei University

International Entertainment and Sports Marketing

120 оценки

Yonsei University

International Entertainment and Sports Marketing

120 оценки

Курс 5 из 6 — Specialization International Marketing & Cross Industry Growth

This course will provide learners with a fundamental understanding of the characteristics and marketing strategies related to two key global industries, sports and entertainment. The growth in both industries have been fueled by their ability to innovate via CCCI, i.e. cross-country and cross-industry expansion. There will be a graded quiz that will consists of 10 questions during the first two weeks (together worth 50% of the grade) and a final quiz that contains 20 questions (worth 50% of the grade) in the third week. People who successfully complete this course will obtain the following outcomes: (1) You will learn the key characteristics of sports marketing. (2) You will learn the key characteristics of entertainment marketing. (3) You will be able to apply cross country growth strategies to your business in the sports and entertainment industry. (4) You will be able to apply cross industry growth strategies to your business in the sports and entertainment industry”. (5) You will be able to reference CCCI, i.e. cross-country and cross-industry Innovation best practices via interviews with key experts in the sports and entertainment industry such as from adidas, Audi, and YG Entertainment (home to Psy and Gangnam Style).

Из урока

Cross Country & Cross Industry Innovation in Sports and Entertainment Marketing

In Week 3 learners will be instructed on how companies can seek growth opportunities by cross-country and cross-industry innovation using both sports or entertainment. For both sports and entertainment, they can be the source or the beneficiary of innovation ideas. We frame this as innovation exporting or innovation importing whether it is at the cross-industry level or the cross-industry level, hence CCCI. Learners interested in activating sports and entertainment in a cross country or cross industry manner can adopt the various strategies covered in the interviews with Jörg Dietzel at Audi and HyeongKeun Kang at adidas.

3.1 Cross Country Sports10:54

3.2 Cross Country Entertainment Part 17:56

3.3 Cross Country Entertainment Part 26:30

3.4 Cross Industry Sports9:42

3.5 Cross Industry Entertainment Part 18:07

3.6 Cross Industry Entertainment Part 28:17

3.7 Interview with Jörg Dietzel, Audi Part 111:01

3.8 Interview with Jörg Dietzel, Audi Part 28:38

3.9 Interview with HyeongKeun Kang, adidas Part 18:05

3.10 Interview with HyeongKeun Kang, adidas Part 211:46

Instructor's Thank You0:12

Познакомьтесь с преподавателями

Dae Ryun Chang
Professor of Marketing
School of Business

Okay, so we talked about importing entertainment.

Here, I think we have to think much more out of the box in terms of how

we can instill in other industries the sense of to hold them up.

How to maximize the fun factor.

And so, this is just a short list of how we can do that.

We can do that by, for example, emulating how in entertainment they source,

and adapt content from a lot of different sources.

So we can have that same kind of sense, use that same kind of strategy,

in our industry, our non-entertainment industry.

Entertainment is a lot about narrative creation, so we can do that for

a lot of our collaterals, whether it's annual reports or

whether it's investor relation reports.

More and more companies are using films for

image making, so corporate sale is another, I think,

way to a benchmark what's being well done in the entertainment business.

We can bundle content across media.

So there was a very famous artist who passed away,

Prince, and so he would bundle concerts with his CDs.

And that's because concerts are more popular,

they're higher price, whereas digital music now is becoming less so.

So you can offset the revenues generated from one

business by bundling it with the higher popularity and

the higher value-added with another.

So I think that's one very creative strategy that's been

employed in entertainment that can be, I think, emulated in other industries.

Franchise building is key in entertainment, especially in film, and

I'll talk about a key example later.

In entertainment once,

for example, a movie is made or a record is launched,

that doesn't mean that the initial sales are the final sales.

So there is a so-called second life.

And I think that can be something that's possible for products in other industries.

So that, too, I think, is something that we can emulate.

More trade shows are becoming entertaining through the use of show business

techniques.

Even hospitals can become more fun

Especially if the patient or children so

I think hospitals are enhancing that factor.

Emulating what's done in entertainment.

And last but not least, and in my introduction to this specialization,

I talked about how BMW emulated joysticks for

their car control, so a lot of innovations developed in

gaming are being benchmarked in other industries.

Okay so I talked about franchise building and how that's important.

There's a great, great example.

I am a big action hero fan, and

so I do follow the so-called

Marvel cinematic universe.

And so they have individual action heroes like Captain America,

they have the Hulk, they have Iron Man, and Thor.

But what they've done recently is they have intertwined

the storylines through something called The Avengers.

So what that's done is that

forces you to watch all these different movies because you just can't watch

Captain America and know what happens next.

So they keep you hanging by having a plot line that

forces you to watch the whole series of movies.

So what happened in The Avengers then later on happens in Thor 2, in Iron Man 3.

And they're, again, they leave you hanging after what happens next.

And what happens next is of course the Avengers 2.

Where all of these different characters again, appear.

And recently they just launched a movie called Captain America 3, Civil War.

Where again, a lot of these characters appear.

Even Spider-Man, even Ant Man.

So again, I think this is a very creative franchise building,

where it's not just one movie and out, but again,

to know this whole vision of the series, you have to watch

essentially, and eventually, all of these different movies.

So this, I think, is something that maybe even companies can emulate

with their individual product.

If they can somehow creatively intertwine the complementarity,

the necessity of using these products together,

it will build a much bigger franchise.

Okay, quick example of second life, there's a movie that I'm

sure many of you have seen, it came out In 1994, and it was a dud.

At least in terms of box office.

As you can see, it didn't even return the budget.

But fast-forward 20 years, and now it's become one of the most

beloved movies in the Warner Brothers library collection.

So, indeed, this is a classic example of a second

life, that you have a sleeper effect where people slowly but

surely begin to develop a liking, a love for some content.

And so if you can be patient enough,

this is what happens in the entertainment and the content business.

It can happen in movies, it can happen in music,

it can happen in books, it can happen maybe in games.

And so there are lessons to be learned here, I think,

for non-entertainment industry products.

Okay, so to wrap up, we learned that cross industry

pollination in entertainment can be in two ways.

We can import but we can also export.

And entertainment benefits from innovations elsewhere to hold more and

to do that among more, such as through global media.

Such as through social media.

In contrast, entertainment helps other industries by becoming much more engaging.

And lastly, franchise and loyalty building,

as we saw with the Marvel Comics, is at the core of all industry.

So we can learn from each other.

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