Tuesday, July 12, 2011

Derek Jeter, Transformers, and Customer Value

There were two very interesting news events this past weekend.

By now, everyone has probably seen the highlights of Derek Jeter hitting a home run for his 3000th major league hit.

While all of the news highlights focused on his performance that day, I thought one of the most outstanding performances that day was actually by the Yankees’ marketing staff.

The historic hit occurred in the bottom of the third inning in front of about 47,000 people in Yankee Stadium. By the bottom of the fifth inning, the 3000th hit souvenir shirts, caps, and other memorabilia had been rolled out to the concession stands and many of the 47,000 were lined up to take home a memory of the day.

What a great focus on customer value. A player reaches a historic milestone, and 20 minutes later you have a line of people ready and willing to buy some more of your products.

That same weekend, the Transformers 3 movie opened and grossed more than $44 million.

Like the other Transformers movies, one of the stars in this film was a Chevy Camaro.

Not only was the Chevy Camaro star of this movie, but the producers and General Motors had partnered to offer a Transformers edition of the Camaro, and this custom version was available for order from your local dealer the same weekend that the movie opened.

Another great focus on customer value. If you enjoyed the role the cool looking car played in the movie, you could go down to your Chevy dealer the next day and put down a deposit on one of your very own.

What great ways to give the customers what they want, and get some higher margins in the process.

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