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Introduce the chosen news article and its source.

Provide a brief overview of the main points discussed in the article.

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Identify and explain relevant economic concepts related to the article.

Describe how the article ties into class economic principles.

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Use a graphic to visually demonstrate the standard equilibrium model's application to the policy or situation in the article.

Analyze whether the model’s predictions align with the article's content.

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Summarize the positive (descriptive) and normative (value-based) analysis of the policy or situation.

Present a reasoned conclusion on the policy's effectiveness, considering efficiency, equity, winners and losers, etc.

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The piece we chose to look at is the article “How Stanley’s Marketing Strategy Went Viral” by RIval IQ. This article talks about the unlikely rise of Stanley’s Quencher Tumbler product through innovative marketing strategies that resulted in its success. The Quencher was originally introduced in 2016 and faced many challenges and almost was discounted by 2019. However, due to Stanley's innovative marketing team they switched their target focus from men who love the outdoors to appeal to more women. They introduced new bright colors and designs and used social media platforms like TIk Tok to reach a broader audience. The collaboration with The Buy Guide, a shopping blog, really made the Quencher take off as it boosted the product’s visibility and popularity. The brand also used another viral moment of when the Quencher survived a car, which enhanced its reputation even more. Now there are limited edition releases and a strong community of enthusiasts through social media. Stanley overall says its annual sales go from 70M in 2019 to 750M in 2023. This case study shows the importance of trying new marketing strategies and using community building to help accelerate brand growth in todays competitive consumer market.

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The rise of the Stanley tumbler: How a 110-year-old brand achieved viral success

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The brand had long been marketed to workmen and outdoorsmen. But with the help of a group of influencers, the company unlocked the power of women selling to women.

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A century old brand finds new life

Stanley cup was originally known from making outdoor products saw extreme success when the brand was dying due to influencer marketing and social media viability from Tik Tok

Influencer drive the shift

due to a group of female influencer from the shopping blog, The Buy Guide, the Stanley quencher was applea to gain appeal beyond the traditional male audience. The Promotion targeted women showing that the product is stylish

Change in Target

Stanley used to be focused ontargeting worken and outdoor enthusiants but through the Quencher and its viral success the brand shifted. The company saw the shift through social media and switched its marketing focus on hydration and lifesytle

Social Media part in growth

From Tik Tok the Quencher product became extremely popular item as well as through now some people view it as a collectible item (even at Wisconsin they had a pop up shop during alabama weekend.

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Stanley's Quencher tumbler has seen success due to a strategic pivot in marketing and a targeted audience approach. Stanley, which historically focused on outdoor enthusiasts, managed to tap into the growing market of women consumers, especially those within the age group of 25-50. By collaborating with influencers from The Buy Guide, Stanley created a trend that led to a 275% increase in Quencher sales year-over-year. The brand utilized social media, particularly through TikTok, to engage with consumers directly, resulting in approximately 700 million views for #StanleyTumbler. This significant reach demonstrated the effectiveness of word-of-mouth marketing and highlighted the emotional connections consumers developed with the product.

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From a normative perspective, Stanley's success shows the importance of aligning marketing strategies with consumers that possess strong purchasing power. By targeting women, who often make household purchasing decisions, Stanley created a more relatable brand image that resonates with modern consumers. Their partnership with influencers created trust, allowing the brand to create a community around its product. However, Stanley needs to ensure that this approach continues to evolve, as failing to innovate could lead to stagnation. The emphasis on community engagement and genuine connections in marketing serves as a valuable lesson for brands seeking to maintain relevance in today's competitive landscape.

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In summary, Stanley's Quencher tumbler shows how a 110-year-old brand can successfully navigate market changes and consumer preferences. Through strategic partnerships and a focus on influencer marketing, Stanley was able to change its image and significantly boost sales. The brand's ability to connect with a modern audience while using social media platforms has solidified its position in the market. As Stanley continues to grow, its commitment to adapting to consumer needs will be important for their long-term success.

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1. Expansion into adjacent markets: Stanley expanded its market from outdoorsmen to the inclusion of women, which allowed the firm to reach more clients. As more people bought the cups, the more popular these cups got. The demographic that Stanley started marketing towards happens to have a large snowball effect once one or two people buy the cups.

2. Influencer marketing: Stanley relies on influencers of "The Buy Guide" (The Buy Guide is a shopping blog and connects with Instagram, that promotes lifestyle products), to market its Quencher Tumbler, which enjoyed increased demand due to social media influence.

3. Elasticity: As a result of popularity, the substitutes have become less valuable. This means that people are less likely to buy other water bottle brands. Stanley is able to maintain prices without consumers switching over to other cups.

4. Scarcity and demand: Stanley offered very few colors and launched them at very selective times, creating a sense of scarcity where people would buy his products as soon as possible, so they wouldn't get left out. This oftentimes creates a shortage, when Stanley can then raise the price next time they do a limited drop.

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1. Network effect: The more the number of influencers, the greater the chances that Stanley would be able to get its product across to new audiences without spending so much on traditional ads. Influencers benefit from the network effect. The more people that use Tik Tok or Instagram, the more powerful these influencers messages are. With the rise in social media influencers have become some of the most effective ways to get word out about a product.

2. Cost benefit analysis of influencer marketing: Stanley opted to invest in influencer marketing, and this means they spent less money advertising to their old target audience of workmen and outdoorsmen. Stanley decided that the benefits of using influencer marketing outweighs the costs of paying the advertisers, and not advertising to the old population group.

3. Efficient utilization of marketing resources: Earlier, Stanley focused their promotion mainly on workmen and this restricted the target audience. When targeting women, they are using their marketing resources much more efficiently. The influencers that Stanley uses to advertise are chosen based on their fans’ demographics. Stanley purposely chooses influencers to advertise that have a large young adult women population.

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Stanley’s Quencher tumbler saw a huge spike in popularity when the company shifted their marketing strategy to target a different audience (women). This caused more people to want the product, which is shown by a right shift in the demand curve in the graphic.

Originally, fewer people wanted the product, and it was sold at a lower price and quantity, which is represented by the original equilibrium. Due to their new marketing strategies, advertisements, and other methods of creating sales mentioned previously, demand increased, causing a new, higher price and more people buying the product. This is shown on the graph as the new equilibrium, where the new demand curve intersects with supply.

This graph shows how higher demand led to more sales and allowed Stanley to sell the product at a higher price and quantity.