Aflac Essay

In your opinion, will the campaign stay effective for the foreseeable future? I think the campaign will stay effective because people like the duck. They introduced the duck in 2000 when they hired the advertising agency the Kaplan Thaler Group. The duck has done very well for the company, for many years. I think if they were to discontinue the duck in advertising, their rates would go down 3. What makes AFLAC ads so effective? Is it something more than their entertainment value? If so, what else contributes to their success? Aflac’s duck has done more than generate impressive sales numbers. The mascot has been a feather in the company’s cap in terms of making it one of the most recognizable names in insurance. Nearly 90% of Americans now recognize Aflac’s name, the company said, largely because of the duck campaign, which takes a humorous approach to insurance while sending the serious message for its need. The duck was born after Aflac Chairman and Chief Executive Officer Daniel Amos and his advertising steering committee decided it was time to create a campaign that differentiated the company’s ads from other insurers, while increasing the company’s Advertising Principals 3 ame recognition. In addition, because the company name was often mispronounced, Aflac wanted to create a mnemonic device that would reinforce name awareness and recall. Nearly everyone has seen the white, sassy Pekin duck with a bright-yellow beak waddle into a variety of situations–ranging from an ice arena to the Grand Canyon–to tout Aflac insurance. In m ost scenarios, the feathered icon belts out its signature quack to unsuspecting passersby as individuals converse about insurance. The taglines–â€Å"Without it, no insurance is complete† and â€Å"Ask about it at work† –have added to the ads’ fame. Advertising expert John Malmo, president of Koening Inc. , said in an article that Aflac has â€Å"great advertising because its concept emanates from the brand name. † Financial management 3 * Financial Industry Regulatory Authority (FINRA): FINRA represents and regulates all stock and bond brokerage firms and their employees. More than 4,750 firms are members, with 634,000 employees registered to sell securities. It also administers background checks and licensing exams, regulates securities trading, and monitors how firms comply, and provides information for investors. Treasury bond market regulation Treasury bonds are slightly different from corporate bonds. They’re issued by the U. S. government, so regulation is handled by the Treasury Department’s Bureau of the Public Debt, with additional oversight from the SEC. Derivatives market regulation Derivatives markets have their own regulatory bodies, but they match the format and hierarchy of stock and bond market regulation. The organizations may not be household names, but their functions will seem familiar. * Commodity Futures Trading Commission (CFTC): The CFTC is a government agency that oversees market activities in agricultural and financial commodities. It ensures that the markets are liquid and that both parties on an options or futures transaction are able to meet their contractual obligations. It also provides oversight to the markets by ensuring that the exchanges and self-regulatory organizations have sufficient regulations in place, and that those regulations are enforced. * National Futures Association (NFA): The NFA regulates 4,200 firms and has 55,000 employees who work on the different futures exchanges. It administers background checks and licensing exams, regulates futures trading, and monitors how firms comply, and provides information for investors. Trading in options on stocks is regulated by the SEC and FINRA, but trading on options on futures is regulated by the CFTC and the NFA. As the lines between derivative products blur, you may find a lot of overlap, and many in the industry predict that the SEC and CFTC will merge at some point. Foreign exchange (forex) regulation Because it’s the largest, most liquid market in the world, many day traders are taking up trading in foreign exchange, or forex. However, here’s the rub: These markets are not well regulated. There’s nothing to stop someone from exchanging U. S. ollars for Canadian dollars; tourists do it every day, often at a hotel desk or retail shop. There’s no paperwork, no hassle — and no oversight. Oversight isn’t necessary for someone at a convenience store buying a tube of Smarties with U. S. bucks and getting Canadian loonies in return. Unfortunately, this has allowed some firms to misrepresent forex trading today traders, ca using some day traders to get badly burned. * Options and futures on currency: Most currency is traded in the spot; traders exchange one currency for another at the current exchange rate. The spot market is not regulated. But many trade currency using options and futures. Options and futures on currency are regulated as derivatives through the CFTC, the NFA, and the relevant futures exchanges. * Banks and oversight: Banks are responsible for most forex trading, and banks are heavily regulated. This means that the Federal Reserve Banks and the U. S. Treasury Department are paying attention to forex markets, looking for evidence of manipulation and money laundering. Both are problems — under-regulation and over. However, often, the problem is not in the regulation but in the way it is enforced, or not enforced. I think regulation should be focused on areas that markets do not do well and not on simply regulating for the sake of what regulators feel need to be done. I do not think you should hold the Innocent shareholders responsible for what management does. I think if the management was held accountable for their actions there would be a lot less fraud in the system. I think there needs to be separate entities for each section of regulation; there is a huge amount of companies out there and only a small group that regulates it.