Bank of America Vows to Help Foster "Oppurtunity" for Americans in a New Series of Television Ads

Amidst a flood of bank closures and financial chaos, the Bank of America (BAC), the US's largest commercial bank, is attempting to reassure the American public of its soundness as a financial institution, using a series of television commercials to help spread the message.

CNN televised two Bank of America commercials last night, both within a 5-minute span of each other. Both television spots ended by stressing that the Bank of America was the "Bank of Opportunity". I've been tuned to CNN since rumours of a global financial crisis arose but this was the first time I had seen these commercials. What strikes me as interesting is that they aired merely 9 hours after the US Congress passed a $700 Billion Bail Out Plan.

I did some research in hopes of pinpointing the calender date in which these commercials began to air. My search was fruitless, but I know I couldn't have missed them previously.

So here are my thoughts:

The first "Bank of Opportunity" commercial that I saw, that evening, didn't impress me. Of course, the Bank of America is trying to re-instate itself as a trustworthy and sound financial instituition, incapable of crumbling overnight. However, I wasn't sold on the angle of the commercial. My initial thoughts were that it didn't suffice in providing the needed security that the American public was desperately hoping for at this point. It security seemed forced-what kind of oppurtunity could BAC actually provide for Joe Shmoe at this point?

Upon the second viewing, my initial reaction began to change. I thought about the message-using the word opportunity in their commercial is a sound strategy. Opportunity represents possibilities and "advantageous circumstances", according to dictionary.com. It was casting a subtle, yet optimistic, light on Bank of America. I felt that the Bank of America was attempting to console the American public. More so, without making any explicit promises about its capabilties as a financial instituition, that could potentially backfire on them, it was attempting to reassure the American people that they could trust BAC with their money.

I have to ask myself, why this commercial stood out at me?

I've realized I hadn't seen any commercials for American banks in the last while. And, BAC 's began to air theirs at the most appropriate timing-a time when American morale was at its lowest. Whether or not the commercials will prove to be effective remains to be seen. I'm still not quite sure why my attitude began to shift but for all that its worth it did seem to alleviate some of the tension building in me. However, by no means am I disillusioned to the fact that Bank of America is not the shining white night that American's have been waiting for.

p.s. I tried searching the commercials on YouTube to show you guys, but I couldn't find them! I'll let you know if I do, in the meanwhile I'm sure they'll be in continual replay on CNN!

The Apple Ipod: What's Marketing Got To Do With It?

Last month, Apple introduced its 4th generation iPod nano: the nano-chromatic. A throwback to the second generation nano, the newly-designed nano-chromatic has incorporated several iPod Touch features to create the must-have item of the Fall season. Sleek and sexy, Apple has succeeded (yet again) in creating the ultimate digital media device..or may I scrap creating and stick to 'marketing the ultimate digital media device'?

I believe the iPod’s commercial success stemmed from its brand positioning and had little to do with the product itself.

I, for one, fell in love with Jet's 2004 iPod commercial featuring a dancing silhouette only identifiable by her white-Apple earphones. I know it’s not sensible but secretly I wanted to be the girl with the "big, black boots/long brown hair". Frankly, it was consumers like me, who fell madly in love with the idea of being an iPod Girl, that spurred Apple's mainstream success.But, if Apple continues to add new chromatic colours and funky features that appeal to every music-loving/tech-geek out there, can they continue their reign of success?I don't think so!I believe, Apple created the perfect recipe. It’s not a coincidence that they tend to prefer unknown bands like Jet, Fiest and Chairlift. It's strategy. In their attempts to align themselves with the 'rebel consumer' (the ones who take all the first risks), they positioned themselves as the 'rebel', the brand who doesn't draw inside the lines. This is the image that drove the early adopters to purchase iPods-the idea of being a bit different.

At some point being 'cool' became uncool. Apple instantly recognized the potential of creating a 'rebel' product and the potential influence it could have on consumers. Thus, their marketing formula emerged-one that was highlighted by indie bands and retro themes, a formula that was not easily imitable by an established 'cool' brand. By then though, the majority had caught on, the iPod became a mainstream product and slowly started to lose its ‘cool’.

The bottom line is Apple has to re-invent its image and brand to sustain their success. Whether they like it or not, they’ve become cool and from what marketing research tells us, a product can only be cool for so long until it falls from its pedestal.
So, while I may be entertaining my own ideas concerning Apple's next strategic moves-I am certain that success will stem from their marketing initiatives. While they need quality products-it has to be the continued experience and perception of owning an iPod that will drive their sales. Thus, Apple better figure out a way to remain ‘cool’ and fast.