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International news, issues, and trends for innovative consumer products in the direct response television industry (DRTV), as well as tips for export management & international product sales. This blog focuses on the As Seen on TV product category.
BRIC refers to four countries that have shown rapid development and could become the four dominant economies of the world by 2050. The acronym is for the related economies of Brazil, Russia, India, and China. This thesis was proposed in 2003 by Jim O’Neill who is a global economist for Goldman Sachs. It is important to stress that Mr. O’Neill is not speculating that the BRIC countries will form some sort of economic union like the EU, but merely their combined economies will be the four largest by 2050. That’s not to say that they have not taken steps to boost their cooperation amongst each other in order to potential gain positions in international trading.
On Thursday the ISM (Institute for Supply Management) announced that the US manufacturing sector has grown for the eighth straight month. The current ISM manufacturing index is a six year high at 59.6%. The manufacturing index number indicates that with higher numbers more firms are growing. The good news for US manufacturing seems to be across the board with nearly 17 of 18 firms growing on average and only the plastic industry shrinking.
On February 11th two BIS (Bureau of Industry and Security) nominees were confirmed by the Senate to fill the positions of Assistant Secretary of Commerce for Export Administration (Mr. Kevin Wolf) and Assistant Secretary of Commerce for Export Enforcement (Mr. David Mills). However, the position of Under Secretary of Commerce for Export Administration has yet to be filled. Currently the front runner for the most senior position is Mr. Eric Hirschhorn.
DRTV, otherwise known as direct response television, is one of the most cost-effective forms of advertising buying. This method utilizes the use of television with ads running on TV anywhere from 30 seconds to 30 minutes. DRTV has been proven to be a special form of marketing a product. Having ads on the TV allows you to demonstrate what differentiates your product from the rest. Sitting on a shelf in retail may not allow your product to convey its true potential. Products that have typically had the most success in a DRTV based marketing campaign are those that appeal to a large group of people and with the expansion of TV use around the world there are endless opportunities for those who take advantage of DRTV marketing.
If you are a product inventor or manufacturer who is looking to export your product internationally, there are several steps to take before getting started in order to secure the most successful international campaign.
A downturn in the economy has actually been good news for the infomercial industry. Lower rates on airtime have allowed many companies to be able to buy more spots on television, and increase their media spend to bring in more sales. Customers are now looking to buy a quick fix solution instead of brand name products, or replacing entire elements of their home. Repair kits sales are on the rise. People are looking to buy small luxury items for themselves, however, such as a mascara product. The Spinlash mascara product has sold extremely well in US retail, despite people's inability to splurge on themselves. Mascara may be seen as a small upgrade that people are willing to buy and invest a little bit in themselves, without going overboard.