Discuss About The Nostalgic Marketing Of Merchandise Using?
The innovative business model idea is known as ‘remind me then sell’ it is a kind of sales and marketing business idea. The business idea model utilizes nostalgia marketing to sell football merchandise such as shirts, shorts, scuffs and designed clothing’s to global customers. Nostalgia marketing is used in professional marketing to create positive memories among customers of historic events and happenings (Schlegelmilch, Bodo , 2013). Once memories are revisited from past events and pictures customers feel excited, connected and build relationship with the company products. Use of nostalgic marketing was borrowed from the music industry where current musicians are using old and modern music remix to elicit their listener’s memories to purchase their songs (Ye, Chen, Sanjeev Jha, and Kevin, Desouza., 2015). The use of old music is to remind listeners of their old favorite music or musician. It is reported to be successful musicians are making billions of dollars by selling their products. Modern football communication is characterized with the use of social media as part of sharing information. Stakeholders in football industry use social media to capture attention of billions of supporters in the world. Much of the use of social media cover football analysis, gossips, matches, and transfer news and not much on sales of products. For example the BBC football in UK uses social media to inform audiences on new trends and topics in football.
One of the biggest companies reaping from social media is the Dugout which is a United Kingdom conceived in 2014. The company is partnering with 20 of the biggest football clubs in world. The contract struck with the clubs is to build a huge fan base by enlisting its club activities, football superstar’s profiles. Last year the company was able to make billions of dollars from advertisements and endorsements from other companies. The innovative model ‘remind me then sell’ originates from the gap that Dugout Company and others are not performing. Football industry currently is a profitable sport investment with plenty of opportunities. Each of the football fans follow their teams using social media and would like to associate with its activities and players. Football clubs are reaping billion dollars from sales of its merchandize like shirts, shorts, badges, scuffs, and head gears (Parente, David. Strausbaugh, Raphael, & Hutchinson,Kimberley, 2014).
In order to enter to the football market merchandise industry the ‘remind me sell’ business model will use innovative idea to elicit excitement and connection among customers. The football industry harbors historical events and happenings which form the basis of the modern football. For example the football legends, number of historical cups worn by clubs and countries. Branding of modern football merchandize is based on current crop of superstars not much covers football legends, while historical events have been forgotten what is being talked about is the modern football. Successful teams, clubs, countries and players are still in the mind of their supporters. They continue building their current success or failure using history data as their benchmark (Moriarty, Samson., Mitchell, Nelly. D., Wells, Willy, Crawford., Brennan & Spence-Stone (2014), 2014).
The relationship between modern history and the current football creates a business opportunity to exploit. Billions of supporters need to be reminded on their past historical heritage to elicit their excitement and connection to their club, teams, country and players. By creating an historical event or happening in the social media and linking it with merchandized products. The nostalgic feelings created by the social media event posting may entice them to buy the products advertised to them (Wu, Shwu-Ing, and Ting-Ru Lin, 2014). Figure 1 shows a summary of the business model.
Figure1 Business idea model
The success of the business model will be depended on the partnership agreements and contract struck with major producers and clubs of the football merchandizes and products. The contract agreements will therefore eliminate risks arising from issues of patenting and products authorizations. In addition the partnership agreement will be with international online payment and shipment solutions. A combination of nostalgia marketing and social media will enable the business to cover a wider scope of audiences and create an innovative method that will excite and connect customers to the products. The business model ‘remind me then sell’ will speed up market penetration, create a wider market share and build relationship among several football stakeholders (Team, B., Schori, A., MacLean, M., Shipe, J., Wickenkamp, A., & Wehr, A., 2014).
Moriarty, S., Mitchell, N. D., Wells, W. D., Crawford, R., Brennan, L., & Spence-Stone, R. (2014). (2014). Advertising: principles and practice. Strowburg : Pearson Australia.
Parente, D. Strausbaugh, R, & Hutchinson,K. (2014). Advertising campaign strategy: Aguide to marketing communication plans. Chicago: Cengage Learning.
Schlegelmilch, Bodo B. (2013). Global Marketing Strategy. New York: Springer International Publishing:.
Team, B., Schori, A., MacLean, M., Shipe, J., Wickenkamp, A., & Wehr, A. (2014). Intergrated marketing communication plan. Bahmuda : Cengage publishers.
Wu, Shwu-Ing, and Ting-Ru Lin. (2014). "The influence of relational bonds and innovative marketing on consumer perception-A study of theme parks. Journal of Management and Strategy , 54.
Ye, Chen, Sanjeev Jha, and Kevin C. Desouza. (2015). Communicating the business value of innovation. International Journal of Innovation Science , 1-12.