Is Walt Disney Marketing Strategy Effective to Become Entertainment King?
When it comes to American brands, Walt Disney is referred to as an icon. The product portfolio of Disney is really diverse. Disney is the hub of family entertainment from movies to radio, television, theme parks, and most loved products by adults and children. You can’t underestimate the scope and size of Walt Disney Company. It is a marketing genius and knows how to attract customers. As a result, the company is continuously growing due to its effective marketing strategy. This article will help you uncover some of the biggest marketing secrets of Disney that make the company affluent and successful in such a competitive environment.
Marketing Mix (4Ps) of Disney:
The marketing mix is an important factor that decides the competitive standing of Disney in different markets. This marketing mix is the mixture of four important factors as Product, Price, Place, and Promotion also referred to as “4Ps”. If a company successfully sets these four factors that can position itself in the competitive market which is filled with various giants like Time Warner, Viacom, Sony, and Comcast. Marvel and Pixar are some famous subsidiaries of Disney.
We analyze these four factors based on the business structure of Disney. It involves everything such as its resorts, mass media, retail industry, consumer items, parks, and entertainment.
Product Strategy:
As a global brand, the product offerings of Disney are endless. Most of its products or services are from entertainment and media. Several acquisitions have made the product portfolio of the company really diverse. Here are some products from different categories of Disney:
- Studio Entertainment (stage plays, video content, motion pictures, and music)
- Media Networks (radio, cable, and TV)
- Resorts & Parks (themed hotels, Walt Disney World Resort, and Disneyland Paris)
- Consumer Goods (video content, video games, books, magazines, comic books, and others)
Disney only had products from the entertainment and media sector in the past years. But, they evolved the company in the last few decades in the form of amusement parks, consumer products, attractions, and outlets. This portion of the marketing mix indicates the diversification of Disney products. The best thing is that Disney is unstoppable in all these sectors due to its genius business strategies at the global level. Moreover, further acquisitions will help to bring more services and products under its portfolio.
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Price Strategy:
It is a factor that can create a big impact on the business performance of a company. Disney sets the price of products on the basis of saturation, managerial concerns, development, business chances, and risks. Due to this reason, its pricing strategy in resorts and parks is different in different countries. Moreover, the company offers entertainment services at competitive prices due to the presence of other giants. Disney follows the following pricing strategy:
- Market-oriented
- Value-based
In a market-oriented pricing strategy, movies are the main concern. Resorts and parks fall under the value-based pricing strategy. Value-based pricing is mainly dependent on the behavior of the target audience. On the account of this strategy, multinational companies optimize their costs because they have to maintain marketing campaigns and brand reputation. In short, Disney is earning a huge sum of money every year due to its effective pricing strategy.
Place Strategy:
It highlights how Disney allocates its products in different countries. Currently, Disney is really active in the US, Paris, Hong Kong, and other parts of the world. According to the demand, Disney offers its products such as entertainment, parks, resorts, and consumer goods. For storing magazines, books, comic books, and other consumer goods, the company uses the following places:
- Theaters
- Disney stores
- Official websites
- Third-parties
It shows the place diversification of Disney. It allocates its movies via Apple, theaters, and other digital content distributors. Third-parties and licensees help to generate a big portion of its revenue like ESPN. Through this place strategy, It is reaching every corner of the world in a significant way.
Promotion Strategy:
This specific part of the marketing mix involves how Disney attracts customers through advertising or marketing. For this purpose, It uses various tactics, depending on the item or service being marketed. There is no doubt that marketing or advertising can create all the differences in the sales and revenues of a company. You can see Marvel movie advertisements as an example. Disney reaches its customers through various international and local marketing approaches such as:
- Sponsorship
- Advertising
- Public relations
- Direct selling
- Sales promotion
Disney uses a traditional marketing strategy and it is one of its biggest strengths. The company exploits various traditional platforms for advertising its resorts, parks, and movies.
Direct selling is another important and effective strategy. Disney also uses sponsorships to propagate its products to all over the world. The company believes in a sales promotion strategy, and due to this reason, it gives special offers and packages to its customers. All these factors play a huge role in the success of the company.
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4 Key Marketing Strategies of Disney:
1- It Tells Stories That Inspire:
In the entertainment industry, Disney is considered the best storyteller. Its stories convey a specific message that describes one’s emotions. On the other hand, The company created several meaningful memes on various seasons and events to promote its films. These memes look funny but successfully convey a message. They teach their customers a specific lesson through stories and memes.
2- It Builds Disneyland and Disney World:
You can guess the brand’s recall value of Disney that every kid knows about. It is a dream of every kid to see Disneyland and Disney World. For children, these places are sacred and the credit goes to the marketing. Disney World and Disneyland are influencing kids all around the world by introducing new trends, themes, and events. This strategy entices customers to explore these attractions. Kids who love Elsa will definitely want to watch Frozen theme. It is a great tactic to entice the customers to come back and explore new themes. Disney World and Disneyland are more than a destination. Visiting these attractions will remain in your mind for years.
3- It Employs the Sentiment of Nostalgia:
Through their movies, video content, and other entertainment services, It has created an emotional impact on people. Disney is reviving some of its classics such as The Jungle Book. It is utilizing modern and advanced technologies to implement nostalgia in its services and marketing. Using nostalgia as a marketing tool is a great idea as it hits really hard on the mind of people. For example, we are living in the most modern era, but the craze of 90’s clothes, shoes, and bags is prevailing strong.
4- It Sticks to Its Themes:
Can you imagine Disney without any theme? The biggest strength of the king of entertainment is its themes. The best thing is that it still sticks to its themes. Its themes bring magic, dream, and elegance. There are a lot of themes that attract people all around the world every year. From Winnie-the-pooh to mickey and more, all are still alive in the hearts of kids as well as adults. When you explore it, you will feel like you are exploring a whole different world. It will be a memorable experience of your life. In short, Disney is clearly providing its voice to people in an effective way.
Some Examples of Marketing Campaigns of Disney:
DreamBigPrincess Campaign:
The connection of Disney with princess culture is beyond exception. It has represented its princess in a better way by running campaigns like #DreamBigPrincess. This campaign includes nineteen female photographers from fifteen different countries, creating good reputations of females like the youngest female to address at the United Nations. This was a very successful campaign on social platforms. Plus, it helps the company remove the stereotypical image from people’s minds about females.
The Jungle Book Reboot:
It has the ability to promote or advertise its films on a big scale. It created the Jungle Book in 2016 giving the company, actors, and production team immense fame. This classic cult, in a modernized way, helped the company to play with the emotions of people. It was the biggest box office hit and it shows the successful marketing tactics of the company.
90th Birthday Exhibition of Mickey Mouse:
In 2018, the company celebrated the 90th birthday of Mickey Mouse. They opened a wonderful art exhibition in honor of Mickey Mouse. This exhibition was a big hit as it includes artwork of several contemporary and classic artists. Besides such exhibitions, Disney is also collaborating with several fashions and footwear brands such as Forever21 and Vans. This will help the company to engage more customers in a better way.
Disney in the West End Summer Pop-Up:
The Lion King and Aladdin are some of the famous products of Disney that got immense fame. Recently, it opened a pop-up experience in the UK’s capital city to attract customers. This pop-up experience includes several puppetry shows, stage performances, and much more. It enabled the customers to experience some magic at lower prices.
Conclusion:
Disney has got immense fame, success, and reach, and we don’t have any doubt about it. Disney’s most significant plus point is its genius marketing and business tactics. This is the thing that separates the company from competitors. Disney is inspiring its customers through its unique offerings and products.
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