Each time I post an assignment, I realize I'm providing opportunity for someone else to cheat. To take my words and try to make them their own. I even provide references for the sake of the reader and not the cheater. I have decided I will not to include references on my blog but in a different file.
The final assignment given in one of my accounting classes, was to create an analysis and recommendation on a company recognized by its trademark. Initially, I picked Coca-Cola - but my research provided more information than I knew what to do with. Frankly, I was overwhelmed with how many pies Coke hands have been dipped into (so to speak) and wasn't interested in doing a recommendation on a company that seemingly owned so many others. And so I changed it.
While using the T.V. remote, and using the grid to see what would be on, Roland suggested that I research more about the Hallmark company. What a marvelous suggestion! I was totally impressed with what I found - and even by what I didn't find. I couldn't do a market analysis as part of my recommendation as the financial records are not released for public information. I like that! Here is what I ended up with:
"The Hallmark Corporation has been around for over 100 years which is one of the reasons why I would recommend this company. Their innovative ideas and wholesome products are a major contribution to their success. Their marketing skills and connection with the public interest is awesome. It is a company that makes people happy and take pride in sharing.
"There is a rich history that goes with the Hallmark industry. The business was started in 1910 during a time when every proficient member of each household contributed to the family finances if at all possible. Joyce Clyde Hall, or J.C. as he was called, along with his brothers William and Rollie, would carry shoeboxes full of postcards as they traveled from door to door to sell their goods (Franzen, 2013).
"As a young teenage boy, J.C. was quite innovative and became interested in creating a business as the picture postcards provided inspiration. He and Rollie created a business with selling cards. In 1915, when the public showed a desire for a more private communication than the postcard would allow, the Hall Brothers' business created personal greeting cards that came with custom sized envelopes (History, 2018). The brothers continued their business under the name "Hall Brothers, Inc." until 1928 when they decided to use a "hallmark" or trademark on the back of their cards using their name Hall in the mark and the sign of the crown, thus the Hallmark logo was born (Corporation, 2018).
"Hallmark is a family owned business that does not share financial statements with the general public, nor are they listed on the stock exchange as they are privately owned and unavailable for purchase. There is, however, the opportunity of investing in franchising and personal ownership (Corporation, 2018). There are over 30,000 independently owned retail stores that sell Hallmark products. Some of these store names can be found under the names "Shoebox" or "Ambassador" in addition to Hallmark (Incorporated, 2018).
"Hallmark does offer paid internships for both creative and corporate positions. "The internships we offer are hands-on and one-of-a-kind. As an intern at Hallmark, you will work on projects tied to Hallmark's business priorities and gain exposure to Hallmark’s leaders" (Hallmark, 2018). Employees have the opportunity of investing in a deferred compensation plan as well as opportunities to became shareholders if they so desire (Corporation, 2018). Hallmark employs over 28,000 people worldwide. It is so awesome to know that there is such a large and recognized worldwide business that continues to be privately owned.
"It was suggested by some that Hallmark's biggest competitor in greeting cards has been with American Greetings (Barmash, 1983) though Hallmark is a more recognized name and trademark (Star-Gazer, 2010). By the 21st century, I think the biggest competition has been with the internet where everything is instantaneous and comes with several options, such as voice and movement (Verge, 2013). However, the internet does not always gratify the desires of recipients or senders. People still like to receive tangible items in the mail. The personal touch that one would like to achieve is often not found on the internet.
"There is also a new 3-D card company on the rise called LovePops (CNN, 2017) that may be headed in the direction of Hallmark competition. According to the Greeting Card Association, Americans purchase 6.5 billion greeting cards per year. Hallmark publishes in more than 30 languages and serves over 100 countries. (Darrisaw, 2017). LovePops does not include written words but leaves it up to the consumer, thus their cards do not need to be translated into other languages (Carter, 2015).
"Though greeting cards may be what started the business, they are only a fraction of the Hallmark trade. In 1917 gift wrap was introduced to consumers. Colorful prints with inviting designs gradually replaced the trite brown or butcher wrap used to wrap gifts and packages (Hallmark, 2018). The empire has built up from there. In 1951, the Hallmark Corporation not only provided us great commercials but had also invested in presenting us with wholesome movies which aired under the name "Hallmark Hall of Fame" (Franzen, 2013). " In the more than 60 years since, Hallmark Hall of Fame productions have won 81 Emmy Awards" (Corporate, 2018)
"By 1960's Hallmark had added much to their line by introducing party items, candles, calendars, stickers, mugs, and toys to name a few (Stafford, 2016). These were well-received by consumers and continue to this day. By 1973, Hallmark had introduced us to special keepsake ornaments (Franzen, 2013). Many patrons look forward to the holiday season as they search for the ornament that offers such a personal meaning. In 1983 Hallmark was a three billion-dollar-a-year card company (Barmash,1983) and became the parent company to Crayola in 1984 (Crayola, 2018). Throughout all of this was their incredible advertising and marketing that tugged at the heartstrings of a people who desired for the wholesomeness and "feel good" moments that Hallmark brought. This, of course, carried over to advertising Crayola to provide family fun and creative activity through their products.
"Not every year has been a financial success for the company. There have been some years in which the corporation had its struggles. By 2009, there was a 5.4% decrease in revenue for the greeting card industry (Franzen, 2013). That seems pretty good when taken into consideration the recession of the entire economy during that time. Even with their struggles, Hallmark always seems to overcome and add more ideas and creativity to their line of products and marketing. If an item becomes outdated or does not sell, new products are created. As of now, they are over four billion strong (Business, 2018).
"In addition to their in-store products, Hallmark now offers two cable channels, over 80 million viewers and another Hallmark Channel on the horizon (SWOT, 2018). I do not see a high competitiveness with the Hallmark compared to other cable networks as Hallmark is focused on inspirational and feel good movies for lifting people. [Note that this report was written before Hallmark Drama made its debut]
"Though some of the other cable stations do offer said movies at times, they are not consistent about continually reaching out to a wholesome audience as does the Hallmark Channels. Unnecessary language gets censored such as NBC's "Frasier" and USA's created "Psych", each running in syndication on one of the Hallmark Channels. It appears there are some viewers who are upset about these censors, but there is still a wide range of cable stations to choose from for those who desire a more crude or off-colored language. Nobody is limited to just the Hallmark stations though censored and clean entertainment as a whole does seem limited to Hallmark (Ihnat, 2017).
"There are 10% of shareholders through Crown's common stock. Hallmark still has control on 90% of the Hallmark movie and channel industry (Whitehouse, 2016). Hallmark was the only cable network that topped double digits on the entertaining charts according to TV AV Club (Ihnat, 2017). It is refreshing to know how many sponsors and patrons will support family values and decency.
"Hallmark also plans to introduce a digital book publishing business for aspiring authors; it is proposed that not only will it benefit the author, but may be an advantage to Hallmark in the movie industry as well. As eBooks are submitted and published, opportunities will be provide in finding scripts that can become movies. Another proposal is taking some of the aired movies and making them available on eBooks. (Lafayette, 2017).
"Certainly, finances are important when recommending a business, but what appeals to me most is the ethics and values of the company. Hallmark is family owned and there has always been a Hall as acting CEO for the last three generations and will continue on to the next. Only corruption would prevent Hallmark from serving us another century or so. As long as there are citizens who uphold decent values and personalized respect, Hallmark is here to stay.
"Hallmark is family oriented - not just because it is a family owned business, but also because their products are "feel-good" products as is their marketing and wholesome media. Hallmark believes that when people care enough, they can change the world (Business, 2018). Hallmark is more than just a golden crown over the cursive letters. It is about caring and giving. It is about bringing together the best of each other."
