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Marketing Research of Lucasfilm
Marketing Research of Lucasfilm - April 7th, 2011
Lucasfilm Limited is an American film production company founded by George Lucas in 1971, based in San Francisco, California. Lucas is the company's current chairman and CEO, and Micheline Chau is the president and COO.
The company is best known for producing the Star Wars films, and has also produced other box office hits, including the Indiana Jones franchise and American Graffiti. It has also been a leader in developing new film technology in special effects, sound, and computer animation, and because of their expertise its subsidiaries often help produce non-Lucasfilm pictures. Lucasfilm is set to move away from films and more into TV, due to rising budgets. They also have a policy of offering no group discounts to their movies, probably for this reason.
On July 8, 2005, Lucasfilm's marketing, online, and licensing units moved into the new Letterman Digital Arts Center located in the Presidio in San Francisco. It shares the complex with Industrial Light & Magic and LucasArts. They are also best known for The Deep Note and THX.
Lucasfilm has collaborated with the Walt Disney Company and Walt Disney Imagineering numerous times to create rides and attractions centered on Star Wars and Indiana Jones for various Walt Disney Parks and Resort attractions worldwide.
Trends and Recent Developments
With the price of aluminum remaining high, companies are investing heavily to find dedicated power sources to be able to produce aluminum. They are looking even further afield, often in very remote locations to set up aluminum producing operations. Some of these firms, including Rusal and Norsk Hydro are looking to remote spots in Siberia or other locations for new production sites. The new rule seems to be to get closer to the production source as opposed to closer to the customer. The geographic center of gravity continues to shift. The Middle East, as a consequence of its major oil and gas reserves, is expected to significantly grow its aluminum production. With the same objective in mind, Norsk Hydro has teamed up with Qatar Petroleum to expand capacity in Qatar. Alcoa has set up production operations in Iceland where it has better access to hydropower. For the most part, aluminum operations in the Pacific Northwest of North America have been almost shut down due to the high cost of fuel.
Many firms are also focused more on the core production functions and are spinning off ancillary operations such as aluminum packaging or aluminum can production (Rusal). Alcoa has also recently been interested in selling some of its consumer-oriented operations including ones in the automotive sector.
The price of aluminum, like those of almost all commodities except gold, has been very volatile recently. While it had risen dramatically in early 2008 to reach 1.24 per pound on the Comex spot market, the price has recently dropped to .63 per pound (February 12, 2009) - almost a 50% drop. The market capitalization of some aluminum producers has been severely cut. For example, in the last year, Alcoa's share price has dropped from a high of US $44 per share, to only $6.30 as of February 20, 2009, reducing its market capitalization to only US $5 billion. With the deepending worldwide economic recession, it is
n addition to offering new perspectives, crowdsourcing can build engagement and find nontraditional sources for opinions
Crowdsourcing is a valuable tactic for corporate social responsibility (CSR) programs, though only about half of companies use it.
In October, PR agency Weber Shandwick and KRC Research surveyed more than 200 corporate executives who have oversight for corporate philanthropy, social responsibility and community relations within their organizations.
While only 55% of these executives reported that their companies had used crowdsourcing as part of CSR programs, 95% of those who had reported that the tactic was at least somewhat valuable to the company’s CSR efforts.
Crowdsourcing, or asking customers for opinions and ideas on how to tackle certain issues, has several valuable aspects. When asked about the most valuable aspect of crowdsourcing, 36% of the executives who used it said crowdsourcing provides new and diverse perspectives and opinions.
Additionally, 25% noted that the most valuable aspect was that it can build engagement and relationships with key audiences, 22% said it invites input from nontraditional sources and 16% highlighted how it brings a new energy to the idea-generating process.
Social media has made it easier for companies to experiment with crowdsourcing and getting perspectives from consumers. And overall, social media still benefits CSR programs as more consumers use it to interact with companies online.
According to the study, 38% of respondents said the primary value of social media to CSR programs is the opportunity to reach broad and diverse audiences. Additionally, 29% said the primary value of social media for CSR efforts is that it allows companies to connect with consumers in a low-cost way.
Corporate social responsibility is about connecting with consumers and the issues that matter to them. Both social media and crowdsourcing are ways to build relationships with a wide range of consumers and provide consumers unique ways to get involved with these programs and companies.
Going beyond marketing, CSR efforts should reach consumers through the social media platforms they are visiting on a regular basis. Companies can use these channels to educate consumers about their causes, offer entertaining experiences and listen to consumers’ opinions and perspectives, making crowdsourcing easier.
Last edited by netrashetty; April 7th, 2011 at 04:30 PM..
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