Introduction
The Walt Disney Company is a brand that has won the love and respect of consumers for the quality and appeal of its products. The marketing strategy is essential to companies’ performance in the long term. The COVID-19 pandemic has impacted Disney as it was forced to close its theme parks worldwide and suspended the production of new content. Nevertheless, more than 50 years of Disney’s successful performance should be analyzed regarding brand, products, target audience, communication and internet strategies, and ethical components in a company’s corporate culture.
Brand Disney
Walt Disney is a diversified international entertainment corporation operating in four business segments: media networks, parks and resorts, entertainment studios, and consumer goods and interactive media. Disney has created a brand; in 2020 in the ranking of the top 10 best brands (Interbrand, n.d.). The Disney brand is a show on a grand scale carried out by professionals. It offers the celebration as the product that the company experiences with millions of children and adults worldwide.
Life-Cycle Stage of Product
The Disney company’s products are at a stage of maturity; therefore, the corporation needs new strategies and actions that meet the customers’ expectations. Disney will continue to provide exceptional cartoons for children, excellent entertainment options for teens and adults in their parks, and exciting movies for a wide variety of age audiences (Wasko, 2020). In addition, the company intends to develop online platforms to attract audiences during and after the COVID-19 pandemic.
Subsets of the Disney Target Audience
Disney distinguishes subsets in its consumer base, ranging groups of the target audience into several categories. Disney targets viewers aged 0-44; as a result, Disney addresses the subsets differently. For instance, the company provides animated movies and educational entertainment for the first group, consisting of children up to 7 (Wasko, 2020). For teens, there is a combination of TVshows and full-length films (Wasko, 2020). Finally, the company develops streaming services for young people and adults, allowing the audience to watch Disney and its partners’ products.
Communications Strategy
The Walt Disney Company conducts research to learn about the desires of its target audience, which has brought it global growth opportunities. Disney’s media networks such as ABC, Disney Channel, and ESPN represent the company’s strategy to market its brand in the US (Wasko, 2020). This includes a systematic approach to TV advertising and radio spots, print, outdoor, mobile promotion, and resort discounts (Wasko, 2020). Disney launched “advergaming”, which puts advertising messages in online and video games (Wasko, 2020). The goal is to engage children directly and encourage them to visit Disney Parks for a family experience.
Internet Marketing Strategy
The Walt Disney Company provides free software, and free Internet access to games and sponsors non-profit educational programs globally. The future of entertainment will be streaming services, replacing offline cinemas and TV. Therefore, the main goals of Disney’s internet marketing converge on streaming. The company has streaming service ESPN and owns 66% of the financially unstable service Hulu (Havard, 2020). Disney cannot control Hulu due to some disputes with telecommunication conglomerate Comcast (Havard, 2020). Accordingly, the company is unable to promote its launching streaming service fully.
Ethics
Disney is ethically responsible; for example, the streaming platform Disney+ has added disclaimers about offensive and racist stereotypes to some of its cartoons. In addition, the volume of globally licensed products in North America increased to 70% (Wasko, 2020). More than 100 thousand people were trained in informational security (Wasko, 2020). In 2012, the company achieved a 50% reduction in greenhouse gas emissions from the long-term goal and a 10% in electricity consumption (Wasko, 2020). Thus, the company focuses on social responsibility.
Conclusion
Overall, Disney remains a significant global organization in the entertainment industry and one of the most valuable businesses on the planet, ranking in the top 10 most valuable brands in terms of value. The company has a diversified business portfolio: media content, consumer products, studios, and entertainment parks. Moreover, regarding further development, the company promotes digitalization, following current trends. These actions will also help to attract new audiences and enter international markets.
References
Havard, C. T. (2020). Disney vs. Comcast: Lessons learned from the corporate rivalry. Graziadio Business Review, 23(1).
Interbrand. (n.d.). Best global brands. Interbrand.
Wasko, J. (2020). Understanding Disney: The manufacture of fantasy. John Wiley & Sons.