American Graffiti, even today, is one of the highest-grossing films of all time. The film earned over US$140 million at the Bosnia and Herzegovina Phone Number box office; it was made on a budget of less than $1 million. After the success of Graffiti, director George Lucas was in demand and he began pitching his next adventure, a sci-fi movie called “Star Wars,” to Hollywood studios.
At the time, Hollywood was seeing a number of sci-fi flops and the industry didn’t see Star Wars as a bankable concept. Eventually, 20th Century Fox decided to take a chance on the film. Still, Fox executives were convinced the film was going to be a flop and decided to let Lucas pass an additional $500,000 director’s fee in exchange for full licensing and merchandising rights. The studio thought they saved half a million dollars without inconvenience.
From 1977 to 2015 (prior to Disney’s release of Star Wars
The Force Awakens), Star Bosnia and Herzegovina Phone Number Wars movies generated just over $5 billion in ticket sales. During this same period, merchandising sales reached $12 billion.
That’s right… 20th Century Fox sold the merchandising rights to George Lucas for pennies and lost the vast majority of the franchise’s revenue. They believed, like most Hollywood insiders at the time, that you made money from movies through ticket sales. Period.
George Lucas saw business in a totally different way and changed the industry forever.
Is it possible that the majority of CEOs and CMOs look at marketing based on their own limited credentials (what they believe to be true about marketing), and not see the full potential (which they don’t know maybe not), like Hollywood insiders did? Are they killing their inside marketing without realizing it?
The purpose of marketing
In one of his 70 books on marketing, renowned. Also, marketing professor Philip Kotler explained that “the mantra of marketing was CCDVTP”. It was an acronym that suggested that the primary function of marketing should be to:
C: CREATE. C: COMMUNICATE AND D: DELIVER. V: VALUE. T: TO THE TARGET MARKET. A: FOR BENEFIT.
Most of our marketing over the past 50. Also, years has revolved around advertising or renting space in channels to grab attention and hopefully change consumer behavior. But over the past decade, innovative companies have found a “new” way to deliver value to their target markets,