Question
A real world example, Lays Potato Chips reached out to the general public using their social media strength to ask them to come up with
A real world example, Lays Potato Chips reached out to the general public using their social media strength to ask them to come up with a new flavor of potato chip. This combined the strengths the company had with the need to execute a new marketing strategy. Through this process, a consumer won $1mm for coming up with a new potato chip flavor, and Lay's of course won tons of new customers and multiple millions in sales of new product.
Since the ideas being exchanged in the weekly meeting are to foster growth and innovation, camaraderie, excitement, and motivation, they can also be used to generate new ideas for promotion. This weekly team meeting can be leveraged to spur perhaps a name of a new product that company X has been trying to launch for considerable amount of time but just haven't thought of the right one.
In a SWOT analysis it is determined that one of the strengths of a company was that weekly team meetings were held where ideas are exchanged and commendations are awarded to team members who have met or exceeded goals or expectations for the week. How can we translate or incorporate that Strength into a marketing strategy?
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