We Observe The Spirit of Keynes from Wikipedia
"Animal spirits" is the term John Maynard Keynes used in his 1936 book The General Theory of Employment, Interest and Money to describe emotions which influence human behavior and can be measured in terms of consumer confidence. Trust is also included or produced by "animal spirits". The term itself is drawn from the Latin spiritus animales which may be interpreted as the spirit (or fluid) that drives human thought, feeling and action.
Several articles and at least two books with a focus on "animal spirits" were published in 2008 and 2009 as a part of the Keynesian resurgence.
The original passage by Keynes reads:
"Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than mathematical expectations, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits - a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities."
Talk Story
There's an old Hawaiian tradition, when friends gather they "talk story." That same custom applies to the Caribbean. Talking story is apparent in all aspects of island lifestyle. It's therapeutic, centering and helps create a healthy bond within the community. The Caribbean people see the world differently than most. Living is more fluid, less structured and not clearly defined. History is their common thread that allows a unique entitlement of culture, personal goals and family values. As consumers they do not rationally evaluate a message from an advertisement, but they act upon an emotional response they recall from a past occurrence. Radio advertising is the most reliable method in making a Caribbean consumer connection. The design of the written radio commercial must create real sensuality and intimacy. A portrayal of a fake life often makes people respond with great power to real experiences. Lead consumers to feel mystery, sensuality, and intimacy and it will often culminate into a triumphant occurrence of buying confidence and brand loyalty. We Talk Story at AmeriMedia. Do you hear us?
We've Got Work To Do; So Much
Work.
As Caribbean media representatives, some of our daily
work is centered around the relationships between media
companies, the international manufacturer and product
distributors. In this region where marketing data is
not always reliable we can forever count on important
information from each country's local media owners,
operators, distributors and businessmen. These are the
people who set the pace for quality lifestyle in their
community. AmeriMedia assists media companies in opening
new, effective and efficient bridges to the local consumers,
easily traveled by means of advertising and promotions.
And with everyone involved in a partnership process
the rewards are penultimate to a given brand's bottom
line. Media companies value our expertise and constantly
help us empower manufacturers and distributors along
with international advertising agencies. We highly respect
the media's capacity to reach listeners through their
on-air personalities, music mix, delivery of the news
and support to community service projects. In turn,
the audience is imprinted in such a manner that it stimulates
pride and it is embraced; the outcome of which establishes
a perfect bridge to the consumer.
AmeriMedia is alerted to issues
faced by Caribbean distributors ...
ONE; in the ways they receive products from manufacturers
which are complex, multi-faceted, problematic and confusing.
In simple terms, the supply chain is affected by 'first'
country demand; the balance of product is sent to the
region and therefore many brands are unavailable in
the market.
TWO; distributors are imposed upon by manufacturers
to effect media contributions to the brand. Caribbean
distributors, for the most part, are wholesalers operating
on small profit margins and logically find it difficult
to provide media investments. They are sensitive to
rising consumer costs as well, but are cognizant that
additional expenses to the brand will have to be absorbed
by the consumer. As production costs lessen with increased
pressure for profits manufacturers look for a bigger
piece of the pie, but they cannot expect to tap into
distributors' profits.
THREE; distributors are asked to perform in ways they're
not always prepared to handle; some distributors feel
that if they don't comply with the manufacturer's demand
they will lose product rights. Manufacturer's expectations
of distributors must be flexible.
Brand growth and market share from a history of incremental
sales will lend credence to future growth. Distributors
must stand firm to reality, illustrate and confirm past
performance and rebuild the market development fund
with all participants including the consumer who formerly
helped make brands prosper.
AmeriMedia offers workable solutions. Our esteemed group
of media companies respond and offer us 'value-latitude'
that we, in turn, offer our partners. They identify
and liken our professional abilities to their own and
this, in effect, helps with their responsibilities to
the community.
Today's Manufacturer & Distributor
Policy: 'price offs' help maintain brand presence and
sales at a discount with minimal or without advertising
support.
Together, manufacturers and distributors do many things
to stimulate sales when price offs are released at the
consumer level, but they overlook the fact that discounts
must be earned. There are important media tactics to
implement for the period of price offs that are designed
to fuel sales and retain brand loyalty. Consumers earn
the discounted value when exposed to a systematically
planned and executed media campaign ... one that will
assure brand integrity without sacrificing the delivery
of commercial broadcast or compromising print production
that meets the consumer; a plan that creates a safe
haven of confident buyers who will feel good about purchasing
the brand when prices return to normal. Manufacturer's
media investments can be adjusted commensurate to their
need, while successfully engaging the consumer to 'earn'
discounts proactively. AmeriMedia is committed to a
manufacturer's investment and bolsters it with a host
of value-added resources such as social marketing devices,
remote broadcasts and live radio interviews (media tours).
AmeriMedia focuses on everything that has been successful
and we are quick to respond to consumer needs today.
Our service provides a substantially clear, level condition
where today's manufacturers can retain full control
over all elements of advertising and promoting their
brand.
(It is a profound observance
that stock holders of publicly traded companies feel
secure when investments are fully substantiated and
under the control of the manufacturer)
Soda's Sensible Slant
AmeriMedia creates partnerships and we are highly motivated
to bond, strengthen and secure the rapport between all
parties involved in the advertising and promotions process.
Most important, is the relationship between the audience
and the brand … the impact retained from a simple
commercial or an in-store promotion that prompts growth
of brand sales in each culture of every international
market.
AmeriMedia often says we work for the consumers who
buy products, those who buy brands to enrich their lifestyle.
We articulate of the importance of branding within the
community and acknowledge there is a deep-seeded connection
between the media and the consumer. Our ideas and methods
provide a clear path to the consumer … the only
way to make rapid strides and improve sales in our competitive
world.
The enclosed excerpts will provide an outlook of Coke’s
new direction and the partners they seek. Perhaps, Coca-Cola
was not the first company to speak out about this. AmeriMedia
has always applied these working principles since our
early days and we invite you to join us explore the
ever-promising business opportunities that lie ahead.
"At the Coca Cola Company we're thinking about
marketing in a radically different way. And I'd suggest
that those of you here today who aren't yet thinking
this way ought to start right now.
Economic and social developments demand a new approach
to connecting with audiences, with consumers:
| • |
The economic landscape around media
cost-efficiencies |
| • |
The escalation of property and sponsorship
costs |
| • |
The fragmentation and proliferation
of media, and the consolidation in media ownership
- soon to be followed by a wholesale unbundling |
| • |
The erosion of mass markets |
| • |
The empowerment of consumers who now
have an unrivaled ability to edit and avoid advertising
and to shift day parts |
| • |
A consumer trend toward mass customization
and personalization |
| • |
And, the emergence of an experience-based
economy, where cultural production is more important
than physical production - cultural production is
where Madison meets Vine. |
I am describing a magnitude and urgency of change that
isn't evolutionary - it's transformational. And as leaders
in consumer packaged goods, Coca-Cola will go first.
Where will Coke go? To accelerate the convergence of Madison
& Vine - a convergence of the trinity in brand building
- content, and media, and marketing. This is a convergence
born of necessity. Economic necessity and marketplace
opportunity. We need each other - now more than ever.
We need each other to capture people's attention and influence
their attitudes and behaviors. The media and marketing
executives among us better recognize that corporate marketers
will not reflexively turn to TV advertising when what
we mean is powerful communication and consumer connection.
...And the agency executives among us, and I used to be
one of you too, your model is in need of a wholesale redefinition
...your future will be in working with, not against, content
creators. Agencies should be quarterbacking the collaborations
...most undermine them.
...We need your content, your storytelling, your influence,
your ability to create experiences. ...Popular culture,
entertainment has proven its ability to sell products
and services, to transform brands and images to define
what's relevant to facilitate transactions and relationships.
...It's not the property, the TV show, the movie, the
music of the brand. It's why, where, and how we bring
them together. And it is, as ever, about the consumer,
all glued together by a powerful idea. It's the insight
about people's passions and the connections we create
- naturally and uniquely - between them and the equity
in our brands. Cultural icons in brand context. Important
events tide to important brands ...with an important reason
why. Our shared challenge isn't just in overcoming the
creative and economic tensions that are an inherent part
of this convergence of content and commerce ...it's about
creating more value for the consumer - as a way of creating
more value for our business and shareholders. It's that
simple and that tough. We must create more value for consumers,
audiences, and customers. How? Through cooperation, collaboration,
and innovation in marketing and communications. Through
innovation in the way Madison meets Vine. Through working
together to create something for our brands that matters
more on Main Street and ultimately, Wall Street. For The
Coca Cola Company, that's value around the bottle that's
at least as great as the value in the bottle.
...That's a timeless proposition. But we express it in
the unique vocabulary of each generation, for what's timeless
must also be timely - or it's dated. What's classic should
stay classic - but must also remain contemporary. Like
Elvis, the Beatles, Bruce Springsteen, Superman ...and
Coke Classic. That's how our products, brands, and businesses
stay fresh, relevant and in demand. It's all about right
associations, at the right time with the right idea.
...So, where are we going? Away from spots in pods. Away
from broadcast TV as the anchor medium. ...Presence is
easy - impact is hard. ...And away from traditional relationships
with agencies, the Hollywood community, the sports community
and many of our customers. So, where are we headed? We're
headed to ideas. ...Ideas that bring entertainment value
to our brands, and ideas that integrate our brands into
entertainment.
We're moving to ideas that use celebrities to illustrate,
enhance and extend the values that underpin our brands.
We don't want to use talent simply to break through the
clutter. Breaking through is a first step but it's not
enough. And, frankly our brands are bigger than celebrity
spokespeople - and borrowed equity only works when you
have none of your own. We will use a diverse array of
entertainment assets to break into people's hearts and
minds. In that order. For this is the way to their wallets.
Always has been. Always will be. This much hasn't changed.
We're moving to ideas that elicit emotion and create connections.
...So do we need reach and frequency - no. We need idea
driven connection with our targets. Our marketing efforts,
our properties and media and celebrity deals will only
produce an adequate return on investment if we use our
network of bottlers, customers, promotional partners,
properties and associations to add value beyond the bottle
and enrich the lives of our consumers. You can be our
added value. And we can be yours.
...To think differently about how we'll connect with consumers
in the future.
...The concept is simple: create value for people ...that
lives beyond and extends the immediate moment of consumption
...connecting with their passions n a way only The Coca
Cola Company can. ...As we move to an experience-based
economy, the effective use of relevant and powerful cultural
references takes a front seat. Each person's life becomes
a commercial market. And any agency that thinks a jingle
connects like real music, or a powerful movie, and doesn't
collaborate, is lost. Most of the traditional media people
here think about reach and frequency at a price.
...Imagine if we used our collective toolkit to create
an ever-expanding variety of interactions for people that
- over time - built a relationship, an on-going series
of transactions, that is unique, differentiated and deeper...improving
everyone's economics and reversing the buyer-seller, zero-sum
game. ...In this new marketing world we need to look at
one and other not in terms of how much we can pay, but
in terms of what we can do and make together. How we can
exchange value to create value. ...Marketers build programs
that glue together a multiplicity of relationships to
create the reasons why we are entitled to a consumer's
loyalty and a premium price. Those clear-cut definitions
fit neatly into a box ...a box defined by uniformity and
predictability, which is no longer sustainable in a hyper-fragmenting
world. If we continue to confine ourselves to those roles,
that box is going to become a coffin. The headstone will
read: 'They didn't try.'"
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