GMA Conference Success
Elina Gorlenkova, Judd Pratt-Heaney, Kelsey Smith
Issue date: 11/3/09 Section: News
The NYU Stern Graduate Marketing Association held its annual conference last Friday, October 30th, focusing on innovation in the changing consumer landscape. To that end, the agenda hosted two keynote speakers from companies that have relied on modernization to find continued growth, Glaceau and Kodak, as well as a series of smaller discussion panels and networking sessions, concluding with a cocktail hour that gave all participants great networking opportunities and a chance to reflect on the day. As attendees will attest, there was certainly no shortage of ideas and insights into the vast and ever changing world of marketing on Friday.
Following a breakfast provided by Dannon and Post, the morning spotlight speaker, Rohan Oza, Chief Marketing Officer of vitaminwater, demonstrated not only how Glaceau created the brand itself, but the entire enhanced water category. The ingredients to success? A superior product that the company and employees could believe in, a brilliant marketing plan and relevant in-store execution. As Oza put it, "You can buy intellect. You can't buy passion." Glaceau began by pouring almost their entire marketing budget into the store level in order to maximize growth potential per dollar spent and capitalize on the fact that 70% of grocery purchase decisions are made within the store. Not only that, but vitaminwater's team was taught to treat everyone like a customer, meaning lots of free product for influencers to help build word of mouth and a consumer base as passionate about the product as the employees. vitaminwater continued this tradition of passion in their strategy to give marketable athletes, musicians and movie stars not only access to their brand but equity in and a strong bond with the company itself. By doing so, they maximized the potential of these partnerships and ensured that the stars were not only involved and cared about the project, but they were incentivized for vitaminwater to succeed. Talk about innovation. No wonder vitaminwater is now a billion dollar brand.
Following a breakfast provided by Dannon and Post, the morning spotlight speaker, Rohan Oza, Chief Marketing Officer of vitaminwater, demonstrated not only how Glaceau created the brand itself, but the entire enhanced water category. The ingredients to success? A superior product that the company and employees could believe in, a brilliant marketing plan and relevant in-store execution. As Oza put it, "You can buy intellect. You can't buy passion." Glaceau began by pouring almost their entire marketing budget into the store level in order to maximize growth potential per dollar spent and capitalize on the fact that 70% of grocery purchase decisions are made within the store. Not only that, but vitaminwater's team was taught to treat everyone like a customer, meaning lots of free product for influencers to help build word of mouth and a consumer base as passionate about the product as the employees. vitaminwater continued this tradition of passion in their strategy to give marketable athletes, musicians and movie stars not only access to their brand but equity in and a strong bond with the company itself. By doing so, they maximized the potential of these partnerships and ensured that the stars were not only involved and cared about the project, but they were incentivized for vitaminwater to succeed. Talk about innovation. No wonder vitaminwater is now a billion dollar brand.
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