Could One Unpopular Decision Derail the Obama Marketing Train?
If President Obama could endorse products, he’d probably be the richest man in the world in a very short time. But since he can’t, others have been perfecting the art of profiting from his words and likeness.
This was never more apparent than during the inaugural festivities Jan. 20th in Washington, where about 500 enterprising street vendors were the latest beneficiaries of Obamamania.
Pins, flags, calendars, T-shirts and mugs were standard fare sold on every corner and by vendors lined up along the streets near the National Mall and along the parade route. Everyone was sporting pins on their hats, carrying flags in their pockets, or wearing woolen Obama caps to fend off the cold.
Food vendors joined in, selling everything from “Obama Chix on a Stick” to “Obama Hot Cocoa.” Local restaurants pitched cocktails and menu items under Obama’s name. Even Washington’s Metro tickets were redesigned to show the new president’s smiling face.
Two college students from Florida had their bags stuffed with memorabilia, and as we stood along the parade route waiting for the president to come by I heard one of them say, “I hope he gets out of the car. He’s so cute when he’s walking. I want to marry him.”
That kind of silly daydreaming — along with much more thoughtful analysis from others — is what drives Obamamania and its marketing counterpart.
Simply by having his name or a few of his spoken words added to packaging or marketing materials, any number of products have flourished.
To tap into the inauguration and its lingering glow, Ben & Jerry’s introduced “Yes Pecan!” ice cream last month — an obvious play on Obama’s “Yes we can” campaign message. The product is billed as “An inspirational blend! Amber waves of buttery ice cream with roasted non-partisan pecans.” January’s “Yes Pecan!” proceeds will be donated to the Common Cause Education Fund.
Most of the memorabilia has focused on the president — and rightly so. But now, in a somewhat predatory move, Beanie Babies maker Ty Inc. has turned an eye to his daughters, bringing out dolls called “Sweet Sasha” and “Marvelous Malia.” The company has gone so far as to say that the dolls don’t have anything to do with the Obama girls. How disingenuous. The president’s children will have a tough enough time adjusting to life in the White House without marketers trying to make a buck off them, too.
Some firms will benefit from the girls’ celebrity just by sheer luck. J. Crew, which First Lady Michelle Obama has stated is one place she likes to shop, saw its share price jump 10% the day after Sasha and Malia wore J. Crew coats to the inauguration and Michelle sported green gloves from the store.
Despite all the hype, what’ll happen when Obama makes his first unpopular decision? And the second and third? If history tells us anything, it’s that approval ratings for incoming presidents eventually fall — some more than others.
Take Harry Truman, for example. He stepped into the Oval Office with an approval rating in the high 80s and departed mired in the low 30s. And consider this: George W. Bush had a 90% approval rating immediately after Sept. 11. When he headed back to Texas last month, that figure had sunk to just 29%.
So what can we expect if Obama’s gleaming promise of hope gets a slight ding, or people’s patience with the faltering economy wears thin? Will it be just as easy for Jones Soda to hawk its pop with Obama’s face beaming from the label? Maybe, maybe not. Time will tell.
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