The World Business

Archive for December, 2010

Did you know that ice cream carts passing around your house before you see the cart or the retailer. Then, you are also interested to buy it? This illustrates that music can be an element for communicating a brand in consumers’ minds. Music is an audible then we know as branding.

Over time, the use of music as a means of branding has evolved into an effective strategy. Now, the use of music was not what it used to be that music is solely used as an advertising jingle or just to raise awareness of a particular brand. Therefore, its use is now more varied and integrated branding strategy.

Music in branding has now developed into one powerful asset for communicating a brand without having to look at the brand visually.  This happens when a lot of famous brand that began to associate their brand with the music world as an effective branding strategy as well as differentiation of a brand with other brands.

Some concrete examples are one of the McDonald’s campaign in the United States that launched the “Big Mac Meal Tracks”. This campaign means a service that allows customers to redeem the access code printed on the packaging sandwich McDonald’s for a song of their choice at Sony’s online music store. The success of a communication strategy certainly did not escape from several aspects:

1. Positioning
A brand must put himself exactly in the market who want to reach. Proper positioning will make it easier for a brand to reach consumers. For example, cigarette True to its advertising which is squarely targeting the lower middle class consumers.

2. Branding Concepts
Communication strategies that really work requires a strong branding concept. Strong branding concept will be more severe impact in the eyes of consumers. That by itself would lead to differentiation that makes the brand stand out more.

For example, Apple is utilizing the popularity of its iPod products into a modern lifestyle with its service iTunes store that is integrated across all Apple products. In addition, Apple also embraces musicians like U2 as brand ambassadors.

Dow Jones appears to increase, as well as the S & P 500 due to investors’ views that the fading of the Chinese action to tame growth. In addition, the technical index in the short term this seems too low.

While the Nasdaq index closed lower end the increase for eight consecutive days because most technology sector stocks suffered profit taking action. The volume of transactions recorded approximately 7.32 billion shares traded on the New York Stock Exchange, American Stock Exchange and Nasdaq. Still far below the daily average this year of as much as 8.62 billion.

A number of leading stocks had earlier risen due to optimism that China will not be considered to confront aggressive growth, which then increase the energy and raw material inventory. Companies such as Chevron Corp. oil producer and manufacturer of mining equipment, such as Caterpillar Inc. pushed the Dow higher. Caterpillar and Chevron climbed 1.5 percent or more. PHLX Oil Service Index rose 1.3 percent. Previously, investors worried that China will raise interest rates to slow growth, but it only took steps to increase the amount of bank capital to move more severe by the second largest world economy. Indeed, in recent time, the Asian stock is getting up.

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At the meeting held yesterday in Quito, Ecuador, the Organization of the Petroleum Exporting Countries (OPEC) decided to maintain its oil production quota. As for oil production quota of 24.845 million barrels per day is just for 11 members. That number has never changed since December 2008. This policy is taken with consideration, the global economy has experienced modest recovery that will last with the change of oil prices. However, this thing is still unstable and ain’t obvious yet.

OPEC President Wilson Pastor said the decision was taken after the oil ministers held a closed meeting for 90 minutes. This decision was accepted by all members of OPEC. And it was a very good news tobe heard.

Previously, Saudi Arabian Oil Minister Ali al-Naimi said the world oil supply and demand balanced at this time. Oil prices in the range $ 70 to U.S. $ 80 is good enough. However, he declined comment on yesterday’s oil price which is perched on the position of U.S. $ 87.79 per barrel on NYMEX. OPEC is scheduled to hold next meeting in June next year at its headquarters located in Vienna. Notes alone, 12 countries collected in OPEC are: Algeria, Ecuador, Kuwait, Iran, Iraq, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.