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Marketing Journal Post 9: Channels Of An IMC Strategy

Student Name

Teacher’s Name

Course Title

Date

Introduction

Integrated marketing communication refers to the promotion aspects of the four p’s of marketing. The major aim of the marketing communication is to deliver the right message to the right people CITATION MAC18 \l 1033 (Camilleri). This also means that the promotional objectives are reached and product awareness is increased among the customers and consumers. It involves a combination of different tools of promotion to make a promotion mix. The characteristics of each tool are studied in detail and then it is added to the promotional mix. The businesses today are in need to distinguish themselves from their competitors. The businesses have to choose the right ways of communicating the message according to its customers. The number of channels chosen depends upon the budget that is available to the marketing team of an organization. Smaller organizations may focus on only one or two channels to convey their message due to financial constraints or due to a narrow customer baseCITATION Phi10 \l 1033 (Burgmann).

Application

The selected product is popcorn which does not cost much to the customers and thus will not provide a high percentage of revenues to the company. Thus, there should be one or two communication channels used for communicating the message regarding this product. The main consideration for the choice of these channels will be the costs incurred and the reach of the communication channel. In my opinion, billboards near the main office of the company will work because they will communicate the message to the people passing nearby. Popcorn is a product that will be available in different areas through various stalls so the main focus of this company will remain on the local community. Putting the advertisement in the local newspaper in the form of print advertisement or in the form of pamphlet will also work well. Some free samples may also be provided to the trespassers so that the local community comes to know about the product quickly.

CITATION Tea19 \l 1033 (Pramkaew)

Works Cited

BIBLIOGRAPHY Burgmann, Phillip J. Kitchen:Inga. "https://onlinelibrary.wiley.com/doi/pdf/10.1002/9781444316568.wiem04001." 2010. https://onlinelibrary.wiley.com. 10 September 2019.

Camilleri, M.A. "Integrated Marketing Communications." Camilleri, M.A. Travel Marketing,Tourism Economics and the airline product,Tourism, hospitality and Event Management. Springer International Publishing, 2018. 85-103.

Pramkaew, Team. "https://www.slideshare.net/TeamPramkaew/finding-the-right-imc-channels." 2019. https://www.slideshare.net/TeamPramkaew/finding-the-right-imc-channels. 10 September 2019.

Subject: Marketing and PR

Pages: 1 Words: 300

Marketing Mix

Marketing mix

[Name of the Writer]

[Name of the Institution]

Contents

TOC \o "1-3" \h \z \u A Brief Profile of Apple Inc. PAGEREF _Toc3738878 \h 3

Marketing Mix and Marketing Strategy of iPhone X PAGEREF _Toc3738879 \h 4

Apple Segmentation, Targeting, and Positioning PAGEREF _Toc3738880 \h 6

PESTLE Analysis of Apple PAGEREF _Toc3738881 \h 8

References PAGEREF _Toc3738882 \h 11

Marketing mix

A Brief Profile of Apple Inc.

Apple is acknowledged as the world’s leading IT Corporation concerning revenue, the world’s prevalent IT Corporation in total assets, and the leading cell phone company with 123,000 workforces. This is due to the company’s exclusivity and innovation in its wide-ranging products. Apple is considered as the most distinguished and familiar brand for electronic devices that crafts, produces, and trades customer electronics, PC software’s, and online facilities. Besides, the company is a title holder of the world's prime cellphone manufacturer in Q4, selling approximately 77 million iPhones (www.apple.com).

Industry: Electronics, computer software's and hardware and online amenities.

Headquarter: California, U.S (Apple Campus, Cupertino)

Revenue: 215.49 Billion USD (2018)

CEO: Timothy Donald Cook

Rivals: Cisco Systems Inc., Google Inc., Hewlett-Packard Company, Samsung Electronics Co. Ltd., Lenovo Group Limited, ASUSTeK Computer Inc. Sony Corporations, Dell Technologies.

Products: Apple TV, iPhone, iPad, iPod, Mac, iOS (software applications system), OS X, Watch OS, apps such as iBook Store, App Store, iTunes Store, and Mac App Store, portable digital music players, iCloud and its accessories, etc. (www.apple.com)

Website: www.apple.com

Marketing Mix and Marketing Strategy of iPhone X

The company has used a combination of numerous marketing networks for the promotion and marketing of its product iPhone X. The first significant feature in the marketing of iPhone X is differentiation. This time the company has used an approach to segregate its product from the whole crowd that includes in all the top premium mobile phones available. This differentiation policy for Apple iPhone X is at the essence of the company’s marketing strategy. That is why the iPhone has continued to be a celebrity (Lassen, Madsen & Vatrapu, 2014, p. 83).

Marketing Mix of Apple iPhone X

Product

The newest announcement from Apple, the iPhone X has experienced a warm welcome from the customers, and it is revealing higher sales. As per the Apple website, the iPhone X is crafted for offering an immersive experience but not devoid of subliminally reacting to consumers' needs. With iPhone X, Apple has exceeded its standards. It is rich in its features and manufactured to uplift the user's experience to another level and form the maximum user satisfaction. Like all other products of Apple, iPhone X has acknowledged its due attention in mass media and other channels (www.forbes.com).

One fantastic feature of this phone is that it is a total screen means no distractions for the operator and completely immersive experience. It has a display of 5.8 inches with no need of pressing any buttons. Multitasking is also made much more convenient, and the user needs only to swipe up to see all the applications running in the background. A lot of technology in with simplicity, from an ambient light sensor to infrared camera and front camera plus speaker, all are placed at the top consuming very little space (www.apple.com)

Place

Apple is a worldwide brand with huge sales and distribution channels. The home country of the product, the Americas comprise both South and North America. Apple is selling its new product iPhone X openly to the customers using its online stores and retail stores as well. The company is also using a number of indirect networks to sell iPhone X. these indirect networks includes in wholesalers, value-added resellers, retailers and third-party cellular network carriers.

Price

The iPhone X starts at $999. Most of the smartphone companies use a wide-ranging pricing strategy while Apple for its iPhone X like previous products have used a premium pricing strategy. People with a handsome income can purchase these weighty price tags. These premium prices are allocated because of the products premium image. Regardless of the rising opposition and challenges from other brands, Apple has not altered its pricing approach. Because of the premium quality of Apple products, the consumers do not mind giving the extra price. (www.apple.com)

Promotion

In the case of iPhone X that in advance generated a very high level of publicity overall, it appealed promotions and dialogs for its extraordinary features as well. Other than that, Apple used a combination of offline and online networks for the promotion of iPhone X. the company marketed the iPhone X via online advertising and websites such as Amazon.com, along with its website. Numerous webpages and blogs discussions also helped with the promotion of the iPhone X. Videos on YouTube that are uploaded to familiarize the consumers with the phone's features also promoted the product. For example, the ‘meet iPhone X' video received more than 25 million views at the beginning (Morrison, Pitt & Kietzmann, 2015, p. 279).

The company is also using its corporeal retail shops and supply stations for the sales and promotion of its product. Tim Cook, the CEO of the company, has appeared on many occasions where he talked about the product enhanced technology and the most special features of iPhone X. These occasions and attending do not just get mass media reporting but also a very high level of social media attention and exposure. The outcomes of these promotional activities are growing observable in the form of mounting sales and incomes (Apple Annual Report).

Apple Segmentation, Targeting, and Positioning

The targeting, positioning, and segmentation are the core of Apple’s marketing tactics. Segmentation encompasses separating people into various groups concerning specific characteristics while targeting means selecting particular groups as potential customers of the product (Al-Refaie, Bata, 2016, p. 1134).

Appendix – 1

iPhone X segmentation, positioning, and targeting

 

 

Type of segmentation

 

Segmentation criteria

Devices: iPhone X

 

Geographic

Region

US

Density

Urban

 

Demographic

Age

20 – 45

Gender

Males & Females

Life-cycle stage

Bachelor Stage

Newly Married Couples

Full Nest I

Full Nest II

Income

High Earners

Occupation

Professionals, managers, and executives

Behavioral

Degree of loyalty

‘Hardcore loyals'

‘Switchers’

Benefits sought

The sense of achievement and belonging

Self-expression

The speed of service, advanced features, and capabilities

Personality

Determined and ambitious

User status

Non-users, potential users

Psychographic

Social class

Middle and upper classes

Lifestyle

Resigned

Aspirer

Succeeder

Explorer

PESTLE Analysis of Apple

Political Factors

Apple relies heavily on the low labor costs, and restrictions imposed on Chinese imports in the U.S to boost manufacturing in America. If Apple tries to look for an alternative, it will cost them more and result in increased rates for its products.

The present-day governmental challenges in the country and intensifying tensions in the ruling alliance and sagging popularity of the government can damage a company's processes and revenues. (www.nytimes.com)

Economic Factors

Financial depressions, stagnations and other crises in the country can seriously upset the company’s profits in comparison to other companies due to the premium pricing strategies. Apple like all others have been affected by recessions, and currently, the economy is not doing very well. Europe’s financial concerns can also directly affect Apple resulting in decreased revenues. Increasing labor costs in China may also affect the prices if Apple's products in the home country. (www.forbes.com).

Social Factors

Globalization, the augmented use of the simulated world and the present way of life are a few social influences that leave a massive impression on Apple. And its products. Apple is one of the most prominent corporations globally. The exclusivity, revolutionary designs, simple marketing tactics, and high prices, all of these make the iPhone X more looked-for to its customers. It is now a mark of social standing largely because of its exceptionally high prices(Khan et al., 2015, p. 958).

Technological Factors

Apple’s iPhones are famous for their striking concept design, but slowly customers are inclining more and more towards larger screens. Moreover, the direct rivals of the company, for instance, Google and Samsung are now making products that were once the mark of Apple. iPhone's rivals have displayed the capability to imitate them. This can threaten the company’s brand as a whole. Also, Apple launches a limited number of customer products each year which can affect its market share.

The mounting risks of cybercrimes make Apple systems susceptible and less protected for customers. It may take away the greatest competitive advantage which is a high repute for safety and protection (www.forbes.com).

Legal Factors

Apple is going under domestic legal stress. Imports of some of Apple’s product iPhone parts that were previously banned by the government of the U.S are restored now. The introduction of the financial/pay services by Apple recently will lead the organization to an augmented level of regulations and might face lawsuits for offering financial services (www.forbes.com).

Environmental Factors

Numerous environmental aspects like dumping such as waste of iPhone-X etc. can impact the organization’s profits and brands. Apple is already facing an enormous problem of disposing of electronic junk such as lithium batteries. It would charge the corporation some gigantic expenditures that may affect the manufacturing costs. The company is forced to suffer the expenditures for the environmental factors linked to it(Khan et al., 2015, p. 959).

Due to global warming, the company may also counter the problem of transoceanic transportation that is an essential part of its chain supply. Apple is also susceptible to amplified charges of electrical energy since it depends on data centers.

All of the above elements of the external environment have influenced the marketing mix decisions of the company, and so far the results of the decisions are successful.

References

Al-Refaie, A., & Bata, N. (2016). Market Segmentation and Conjoint Analysis for Apple Family Design. World Academy of Science, Engineering and Technology, International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering, 10(4), 1138-1142.

Apple Annual Report

https://www.apple.com/in/iphone-x/

https://www.apple.com/in/newsroom/2018/05/apple-reports-second-quarter-results/

Khan, U. A., Alam, M. N., & Alam, S. (2015). A critical analysis of the internal and external environment of Apple Inc. International Journal of Economics, Commerce and Management, 3(6), 955-961.

Lassen, N. B., Madsen, R., & Vatrapu, R. (2014, September). Predicting iPhone sales from iPhone tweets. In 2014 IEEE 18th International Enterprise Distributed Object Computing Conference (pp. 81-90). IEEE.

Morrison, S., Pitt, L., & Kietzmann, J. (2015). Technology and financial services: Marketing in times of U-commerce. Journal of Financial Services Marketing, 20(4), 273-281.

www.apple.com/iphone-6/apple-pay/)

www.forbes.com

www.forbes.com/sites/susanadams/2015/12/08/is-apple-the-worlds-most-innovative-company/#1cadfd617557 www.forbes.com/powerful-brands/list/3/#tab:rank www.forbes.com/sites/carminegallo/2015/04/10/how-the-apple-store-creates-irresistible-customer-experiences/#135b249f2a0c www.nytimes.com

Subject: Marketing and PR

Pages: 5 Words: 1500

Marketing Mix And Swot

Marketing Assignment

Name of Student

Name of Institution

The Marketing Mix

This term means the various strategies that are used by the company in terms of product, distribution, promotion and pricing decisions CITATION Mar16 \l 1033 (Boraite, 2016). This also includes the exchanges that are made by the company and the ways in which it will reach its target markets. The term contains the interrelated actions on the part of the company in an attempt to meet the customer needs and to achieve the overall strategic marketing goals of the company. The mix contains 3 aspects that are company specific namely product, promotion, and placement. These aspects are designed by the company. The price aspect is the one that will directly affect the consumers so this aspect is decided by the interaction of the consumers and the company. All the aspects are equally important in the marketing mix. The product should meet the consumer’s needs, the placement should be such that the access to the product is made easy for the consumers, the price should be justifiable and promotion should be attractive as well as ethical for the society in which the company is working.

SWOT analysis is a method of strategic planning in the workplace. This can be used to assess the important factors that can affect the organization both from the inside and outside of the organization. The strengths and weaknesses are generated from inside the company and opportunities and threats are presented from the outside environment. The company can benefit by this analysis in making the strategic plan because it will let the company know what are the strong and weak points within the organization, the company will make such strategies that will be based on the strengths and at the same time, it will try and improve the weaknesses of the company. The strategies will also help the company to take maximum advantage of the opportunities available in the external environment and to avoid the threats that are posed by the same.

References

BIBLIOGRAPHY Boraite, M. (2016). MARKETING MIX THEORETICAL ASPECTS. International Journal of Research Granthalayah.

Subject: Marketing and PR

Pages: 1 Words: 300

Marketing Paper 2

Name of Student

Name of Instructor

Course

Date

Marketing Paper 2

Introduction:

In this paper, characteristics of baby boomers, seniors, and hippie will be discussed in length in order to get a better understanding of their lifestyle and choices. These characteristics will help marketers to make necessary arrangement while offering products for this group. In this paper, the attitude, spending patterns, and demographics will be analyzed in order to increase understanding of these groups. Based on this information, some detail will be provided regarding the products which should be sold to these age groups. A short discussion will include the appropriate medium for reaching them and the message which will suit these groups.

Demographics and basic info

First of all, there is a need to discuss the demographics and basic information about these groups. Baby boomers consist of people who were born between 1946 and 1964. Currently, they are 73 to 55 years of age as of 2019. It is notable to consider that baby boomers generations represents approximately 20 percent population of the United States. They are people whose parents established families during or after World War II. At that time, the economy was stable and strong. However, baby boomers place value on education. On the other hand, seniors are people who are 65 years old or older. They were born before 1955. Seniors represent 27.8 percent of the US population. During their time, there was an increased focus on employment due to industrial revolutions. Hence, the majority of these seniors had a minimum qualification. Hippie is a subculture in the US that originated during the early 1960s. This subculture was started as a youth movement in the US. This movement was comprised of the youngster between 15 and 25 years of age. They belong to the age group 68 to 80. They embraced eastern philosophy by rejected established institutions of the US. They opposed nuclear weapons and criticized middle-class values in the US. They have long hairs and wear colourful clothes.

Attitude

It is highly important to understand the attitude and behaviour of these groups in order to formulate a marketing plan for them. Baby boomers are self-reliant, independent, and confident individuals. It is observed that they criticize modern cohort due to their lack of commitment and work ethics in the workplace. Based on their growth in the era of reform, they have a mindset that they can change the world (Kincade, Kim, and Gibson). Furthermore, this cohort is highly independent and self-assured as they grew up in the era of reform. As they have seen many movements, they are disciplined and team-oriented. On the other hand, seniors had seen World War II and its aftermath. They had experienced depression, deprivation, devastation, and death of their loved ones. They had also seen the psychological and economic shift. There was a sudden shift in the unemployment rate as it dropped to around 10 percent. Hippies advocated love and nonviolence as they saw both middle and high-class society. They participated in the movements that revolved around peace and love. They protested for peace in their movement due to which they promoted tolerance and openness to their children. Tolerance and openness were proposed and promoted by hippies as an alternative for oppression and restraints. They understood the importance of peace as a source of happy and peaceful life.

Spending

A critical examination of the spending power and habit of all these groups is highly necessary in order to determine their spending patterns. Baby boomers have a spending power of 5.4 percent on their expenditures. On average, they spend 3,425 dollars. They often spend nearly 46.8 percent as compared to others on pets. It is important to mention that the online spending power of baby boomers is almost 7 billion dollars. Seniors have a spending power of near 15 trillion. They are the fastest-growing consumers as compared to other groups in the entire world. Their spending power is increasing day by day. Hippies usually spend on drugs like heroin, marijuana, cocaine, and methamphetamine (Niesrin). They usually spend 500 billion dollars each year.

Product Development

Now, it is essential to identify which products will be presented to each cohort. For baby boomers, we will offer then vintage products as compared to temporary or recent products. This option will suit this generation because they prefer vintage products. However, for seniors, we will provide gardening and lawn care services at economical rates. They have grown up in tough economic conditions and they will judge every transaction in terms of value taken out of every transaction. They are in love with nature and their surroundings so they will be happy to get these services. In addition to this, we will provide DIY tie-dye t-shirts and headbands to hippies as they love these kinds of things. As they have long hairs, so they will be willing to acquire these headbands.

Marketing

Now, it is necessary to determine which marketing strategy and media will be used to reach these people. It has been noticed that baby boomers frequently use social media platform in order to interact with others. Therefore, advertisement on the social media platform will be highly effective to reach to this group of people. Furthermore, they value their time with families so they will be approached in a manner that may not disturb their family lives. An appropriate way to reach this group is through electronic media and more specifically through social media advertisement. The message must revolve around lower price and overall value that will be delivered to customers. For seniors, multi-channel marketing will be a better option as they are often read newspapers and watch television (Greenglass). It will be beneficial to concentrate the majority of efforts on making advertisement effective and in relatable language. If we will only rely on online marketing, then it will be difficult to target maximum seniors. The approach of newspaper and television should also be considered in this regard (Greenglass). In the case of hippies, the option of social media and television is highly effective. It will help in reaching a maximum number of hippies as these folks are largely found on these platforms.

Product/Service

Quacker Oats Company made Quacker Oats breakfast oatmeal for baby boomers. This product flourished as baby boomers often prefer healthy breakfast. For seniors, Planters (TIE) offered planter nutrition. However, it was failed as seniors did not prefer unhealthy snacks. For Hippies, Sam and his wife, Dana started a Mad Hippie which runs on philosophy. It is a skincare company which is GMO-free and cruelty-free. It is very popular among hippies.

Conclusion

There are significant differences between various generations of the Americans in terms of variables, which may interest marketers. These differences pertain to different variables affecting their decision making and purchasing powers. In order to be successful, a marketer should study the time period within which different generations grew up and relevant conditions at that time. Every cohort has its own liking and disliking. However, their spending power is significant, which means that marketers should provide them with adequate services in order to attain them as customers. All these considerations will make sure that the companies make products which suit people from different classes, as well as the marketers, will also know how best to present and communicate with them.

Works Cited

Greenglass, Cyndi. (2019). Secrets of Marketing to Seniors. Diamond Marketing Solutions Blog. Retrieved 6 December 2019, from https://www.dmsolutions.com/blog/secrets-of-marketing-to-seniors/

Kincade, Doris H., Jihyun Kim, and Fay Gibson. "Generational consumer segments and shopping process characteristics: Baby boomers and echo boomers with apparel product selection activities." Journal of Global Fashion Marketing 1.1 (2010): 19-29.

Niesrin, Niesrin. Hippies Characteristics in Peace, Love & Misunderstanding Movie. Diss. Diponegoro University, 2015.

Subject: Marketing and PR

Pages: 4 Words: 1200

Marketing Plan

Marketing Plan

Author

Institution

Marketing Plan

Business Mission

Mission Statement

To provide college students with a backpack that contains a built-in solar charger for laptops and mobile phones. The purpose of installing such a charger in a backpack is to save extra time that students might require for charging their phones and laptops.

The purpose or mission of providing a backpack with a solar charger is; with such backpack, students would not require to carry a portable power bank in their bags that occupies extra space and lasts for a limited time.

The company has brought a new idea to the luggage manufacturing industry.

No such company has come up with the idea of installing a built-in solar charger for laptops and mobiles. So, students can understand the importance of a solar charger in the backpack.

In the years to come, the company plans to install solar chargers in other luggage types to save backpacks. So far, the solar charger in the backpack has low storage capacity due to its small size; however, the company plans to increase the storage capacity of such a solar charger.

Situation Analysis

SWOT Analysis

Strengths

Large customer base due to large demographics of college students who need such a backpack.

The backpack contains separate compartments for books, laptops, and mobile phones.

The backpack’s material is waterproof.

Available in different colors and the company also provides customized backpack concerning the aesthetics of the backpack.

A wide variety of distributors can help boost the sales of such a backpack.

Weaknesses

In order to increase the storage capacity of the solar charger while keeping the charger dimensions the same, high cost is required.

The power storage capacity of the charger is very limited.

Owing to limited resources, a limited number of units were produced.

Opportunities

The biggest opportunity is; our company can address all the shortcomings in this backpack by the time other luggage manufacturing companies start replicating this idea. So, this will give us a competitive edge over other manufacturers.

Threats

No aftersales maintenance services of the batteries are offered. So, our customer base could be affected if the battery of solar charger malfunctions due to any reason.

Subject: Marketing and PR

Pages: 1 Words: 300

Marketing Plan Report

Marketing Plan Report

[Author Name(s), First M. Last, Omit Titles and Degrees]

[Institutional Affiliation(s)]

Author Note

[Include any grant/funding information and a complete correspondence address.]

Marketing Plan Report

Executive Summary

This report is a potential design of a marketing plan for the next fiscal year to boost the market share of Dan Murphy’s which has currently 226 stores running across Australia.

The groundwork for this marketing plan is a thorough and comprehensive situational analysis of the liquor supermarket chain, Dan Murphy’s. This analysis is a deep examination of all activities associated with the brand and its current market share in the liquor industry. The internal matters and external environment of the liquor industry will primarily outline the marketing tactics and strategies for the next 12 months.

Introduction

Regarded as the best destination for the most diverse range of liquor retailed at relatively better prices in Australia, Dan Murphy’s operates under the Woolworths Group Limited. The parent group displays unwavering dedication to deliver products and services for their customers which are unmatched in value for price and quality. Celebrated and widely known for technological leadership within the industry, and for its innovative strategies among the public, Dan Murphy’s is also the first and foremost retailer to initiate “click-and-collect” across all its stores which has made the buying experience a lot more easier. Dan Murphy’s is also the first liquor company which is successfully enabling its customers to be exempt from any delivery charges if they pay an annual fee. To ensure close co-ordination among its users, the company also set afloat a linkages program which delivered the products to the customers’ residential addresses within hours, even if that product was not present in the stores’ inventories. Dan Murphy’s maintains a powerful online presence, which is another pre-cursor for its success.

Opportunity Identified

The opportunity that is identified for the expansion of Dan Murphy’s business activities is the introduction of bars where the customers can come and buy their beer while having a pub like experience. This opportunity stems from a lot of factors which include the current financial and marketing capabilities of the organization, the potential of the company to become a leading brand in the liquor industry, and the market needs.

Even though Dan Murphy’s have successfully adapted to the new constraints and restrictions of this otherwise disputed industry, the company still needs to incorporate innovative strategies that give it an edge over its competitors in the liquor industry. For this purpose, this marketing plan proposes introduction and opening of bars under the banner of ‘Dan Murphy’s’ to give their existing customers access to all kinds of products and to attract potential customers who are seeking a pub-like experience.

During the year 2016, Dan Murphy’s revenue accounted for $4.3 billion, which proved to be a 25.5 percent increase from 2015, and this growth in revenue was sturdy enough to demonstrate the market power and financial capabilities of Dan Murphy’s in the near future. The market and customer needs are also accommodated by diligent hiring of strategic marketing agencies who are highly skilled in targeting their specific customers. One of the representatives of the lifecycle management at Dan Murphy’s was of the view that personalization and customized relationships with the customers is the key for a successful bilateral relationship. In the past year, Dan Murphy’s has tactically analyzed the data of its in-store and online purchases which gave the company a chance to tag every single customer with a propensity score, thus fully having the knowledge of its customers’ needs and preferences. The trends in price elasticity, frequency and volume of purchase were also available to the marketers and they could target customers with specific mails which included particular taglines. This proves that Dan Murphy’s is already victorious in marketing its products to a wide range of customers and the people across Australia know it more than just a liquor retailer.

As far as Dan Murphy’s competitors are concerned, some of them have cost advantages, well-trafficked stores across Australia, excellent stock management, and inexpensive delivery services to name a few, but Dan Murphy’s exhibits greater competitive readiness because of its provision of endless possibilities and thorough personalization of its products when it targets its customers.

The Marketing Strategy

Identification of Competitive Advantage

This marketing plan will strategically fit with the overall business plan of Dan Murphy’s in a lot of ways.

Existing reputation of the company, location of the existing stores and high quality interiors of the stores are some competitive advantages of the brand which will smooth the grounds for timely functioning of the bars by acquiring the same services as were done before.

Marketing Objectives

Promotion of new products and services of the bars

This marketing plan for a bar where Dan Murphy’s customers can come and have the experience of a life-time is essential for promoting the services of the bar in the next 12 months. The Dan Murphy’s bar will be exclusively catering its customers and frequent visitors needs by personalizing their own product catalogue and automation in content marketing which will also provide its customers with suggestions for their future purchases.

Growth of digital presence through live-streaming from the bar

Through live-streaming platforms, the bars will gain wide recognition from diverse groups of people as digital marketing through web and social media has drew attention of a large number of Dan Murphy’s customers and this type of marketing will help to achieve more substantial results.

Development of brand loyalty and retention of existing customers

This is the most important objective of this marketing plan. Reduction in the audience size to better accommodate their personalized needs in the recent past has in turn, helped the company to achieve greater revenue. Marketing strategies of the bars will also work in the pursuit of retention of the existing customers and to instill in them brand loyalty.

Segmentation, Target Markets and Positioning

Demonstrations of linkages between the dynamics of an overall market and how a particular company opts to compete in that market is analyzed through the STP model.

Purchase occasion and the type of beverage are the two segments of Dan Murphy’s because its stores are also organized and separate from each other on the basis of these two factors. Specific dedicated areas in the stores also allow the customers to mix and taste new products and get detailed information about the beverages from the specialist of that range. This segment will be directly incorporated into the bars. Apart from a sitting arrangement and a main counter, there will be a special are in the bars which provides the customers and visitors to get acquainted with all the product ranges and help them to acquire their own special tastes.

The appropriate segmentation bases which are a highlight of this group are mentioned as follows:

Basis for market segmentation

Age

The 18-35 age bracket is the largest segment as people in this age bracket have the specific attributes for high rates of technology adoption, highest potential for level of incomes and they are representatives of the highest share of alcohol and wine drinkers.

Income

As mentioned earlier, the people aged 18-35 are either fresh graduates or already settled high income earners and this group is the most likely to consume Dan Murphy’s products.

Occupation

The purchase decisions are largely influenced by an individual’s occupation, therefore this factor will also be considered in the marketing strategy.

Usage of the product

Visitors of the bars will be categorized as light, medium or heavy users of the beverages and they will be acquainted with their personalized experiences.

Based on the situational analysis, the company’s proactive intention of focusing their marketing offers and activities is a specific group which constitutes the target market of Dan Murphy’s. Evident from the analysis, Australian individuals from the age of 18 to 35 majorly comprise this group with an average socio-economic status, and are most likely to consume Dan Murphy’s products. Targeting this market will play a pivotal role in ensuring the success of the bars because people falling in this age group prefer to drink at bars rather than in the confines of their homes. Multiple studies have conducted various surveys and established that after the legal age of drinking is attained by individuals, they prefer to drink in bars where they also get the opportunity to socialize and increase their networks.

Various Target Market Profiles

White collar, middle class office workers

Brew Connoisseur

Late-nighters

Weekend partiers

Students and networkers

Positioning of Dan Murphy’s products in the liquor industry is already done by its ‘best price guarantee’ in close comparison to its competitors. Dan Murphy’s is highly attentive to the need based purchase decisions of its target market and thus the pricing strategy of the bar will also align with this existing strategy which is a cornerstone of the business model of Dan Murphy’s.

Appropriate Marketing Mix

Crucial to the marketing ambitions of the company, the marketing mix is considered as the chief operational piece for the big picture. The seven elements of the marketing mix, commonly known as the 7 P’s can be modified and manipulated in their own capacities to align with the marketing plan of the potential bars under the banner of Dan Murphy’s. The existing customers and visitors will be the primary points of focus for the brand and the marketing objectives will also be set in such a way to enrich the pub-like experience. This marketing mix framework is utilized by many companies worldwide and deployment of the same blueprint will give a chance to the marketing department for the efficient utilization of resources and assets in the pursuit of achieving the targets and set benchmarks for the growth of the company.

Product

Utilized for a wide variety of occasions, the main thing which makes Dan Murphy’s product range stand out from the products of its customers is the diversity and value of the products which not many alcoholic companies in the liquor industry offer. Targeting the personal and social desires of its customers, Dan Murphy’s is offering a total liquor range of over five thousand products and this fact is not perceived as just another statistic of the retailer, rather it is taken as a competitive advantage.

Enhancement of product strategies in the bars can be done in the following ways:

Accessibility to all the products in the bars through 24/7 delivery systems and online transfers

Deployment of perceived affordability of the bar visitors upon entrance which will further help to realize the customers’ preferences.

All the actual products currently being offered by Dan Murphy’s, which are almost 3500 in number will be available in the bars, including beer, wine, and spirits, thereby increasing the choice opportunities for the visitors.

Just like the in-store and online purchases are offering a diverse array of wine augmentations to cater to all the wants of a customer, the bar will also use the services of skilled bartenders and brew masters to help the visitors in trying new tastes of wines and associated beverages.

The bar will also be a sort of franchise having delivery options and affiliate programs. After the initial success, there can be a potential expansion of the bar to make it look like a wedding venue which would be totally theme-based and will allow this generation to schedule their weddings in this bar, considering their medium-to-low budgets.

These strategies will exceed the value of the product range for the customer and become a fundamental basis of differentiation among all the competing brands in the liquor industry.

Price

A competitive pricing strategy is currently being deployed by Dan Murphy’s. To be harmonious with their major competitive advantage of offering a low price for adequate liquor range, a ‘price integrity unit’ is made use of to signify the brand’s proposition of offering the lowest price option and the process of guaranteeing it. As individuals tend to seek lowest prices for their preferred commodities, therefore this element will also be employed in the pricing strategy of the bar, to avoid abrupt responsiveness in case of rising prices.

First week of every month will observe a special hour during all seven days to provide drinks to the visitors which will be on the house. The in-store purchases will cover this cost but this a special element of the marketing strategy to ensure timely success of the bar.

Additionally, if there is a visitor in the bar who has his / her birthday on the time of the visit, then a couple rounds of drinks for the birthday person and his friends will be on the house.

Place

With over 220 stores currently operative across Australia, there shall be no apparent barriers regarding opening of a bar. Specifically, the dominant spanning of the outlets is across the east coast, therefore conducive conditions for the success of the bar will be available over there. Nevertheless, the ideal location of a bar catering to a wide range of customer needs for products and services depends on a plethora of factors.

It will be based in a trendy area of the town or city.

Due speculation will be done on the neighborhood turnaround.

Hard to find addresses or remote / far-flung areas for opening the bar will be avoided.

The bar will not be in a zone which is under permanent construction.

Considering that bars tend to be cash rich and a tempting target for robbers and thieves, therefore security concerns will also be given due diligence

Availability of a large parking lot near the bar will be ensured.

Promotion

Utilization of a cognitive message propagation strategy, whose sole focus is directed upon the quality and quantity of the information presented to the customer, the bar will also allocate a corner on its floor to provide customers knowledge of the complex liquor products and persuade them to enrich their taste buds with the best combinations of wines. Various marketing campaigns will also be conducted across local communities and through social media and the theme of such campaigns will revolve around ‘lowest priced liquor guarantee.’

People

Dan Murphy’s integrates a high level of involvement within their multifaceted product delivery. From a front stage perspective, minimum standards are established in terms of staff knowledge, with ‘product experts’ allocated to specialize in product lines i.e. wine. Deploying extensive product knowledge to customers is utilized to enhance the customer experience and ensure ‘moments of truth’ consistently provide value and facilitate customer satisfaction. ​(Martin, 2019) ​This in turn reinforces long standing customer-employee relationships, which can translate to customer loyalty. Thus, backstage activities for Dan Murphy’s involve educating staff on products, in order to effectively deliver the service encounter with minimal variability. ​(Glushko & Tabas, 2009).

The bar will also observe great care in the employment of bartenders and the person fulfilling a specific criteria of possessing the following skills will be made part of the work force of the bars. Some particular characteristics are listed as below:

Good communication skills

Outgoing personality

A good memory

Physical fitness

Stamina to work for long hours

Tenacity and diplomacy to steer through difficult situations

Process

High involvement in the staff-customer relationship because of arising difficulty in the purchase decisions is mandatory. This thing will be a fundamental purview when the bartenders will be trained and the dynamics of the bar during heavy drinking periods will be laid out. Dan Murphy’s provides an extensive range of products all within the purchasing power of its target markets, therefore ultimate customer satisfaction will only be achieved if the staff is present at all times to assist the customers in their final decisions regarding purchase of wine.

The bar staff will ensure that there is little difference between the purchase intention and purchase behavior of the customer and the bar visitors. There will be extremely low variations in the quality of the service and only through proper training and multiple reassurances of the hiring agencies, will the bartenders be hired in the bar.

Physical Evidence

For the easy facilitation of the desires of various customers and in the pursuit of efficiency, there will be dedicated sections for each product lines in the bar and the aisles will also have proper labels regarding price and the type of occasion that they will best suit. Luxurious wines will be separated from the routine red or white ones, similarly the bartenders will take great care in acknowledging the needs of different customers on the basis of differences in their ages. For instance, the fresh graduates coming to party will have a different preference than a nine to five white collar, who is coming to relax himself after a day’s worth of hard work and brainstorming.

Implementation and Control Issues

Some Key Performance Indicators for each element of the marketing mix are as follows:

Product:

Accessibility of all the product ranges in the bar available for the customer

Maintenance of quality as perceived in-stores

Number of units sold per product

Most tasted and tried products

Most sold products

Performance of the products (Why wine A is getting more outreach than wine B?)

Supply chain management of the bar

Price

Sales revenue

Costs of marketing campaign

Return on investment

How much did the live streaming lead to purchases?

Translation of marketing campaigns into sales of the product and visits to the bar

Pay-per-clicks through inline advertisements

Place

Number of products sold per bar location

Volume of sales per bar location

Revenue generation per bar location

Promotion

Traffic on the up-dated website of the bar

Number of likes, shares and reposts of the instagram posts of the bar

Number of views on the YouTube channel of the bar

People

Feedback based on customer surveys

Process

Smooth operations of the bar

Deliverance of the service

Efficient working of the system

Physical Evidence

Confirmation of the physical evidence with the customers’ assumptions

Testimonies from the customers

After the initial year, launch of a documentary incorporating the reviews of the bar visitors and customers of Dan Murphy’s

Control issues after reviewing the PEST analysis which expresses apprehensions about the growth of the business regarding political, economic, social, and technological factors are also predicted. Careful evaluation will be done by Dan Murphy’s on every step taken and compliance to every single regulation will be observed.

Conclusion

In summary, this marketing plan, if implemented properly will pave the way for boosting the market power of Dan Murphy’s in a very short period of time. Each element of the marketing mix will work in coordination along with up-to-date marketing strategies and campaigns, giving the customers an enriching experience upon their visit to the bar. Key performance indicators will be measured on a regular basis and compliance to the rules of concerned regulatory authorities will be strictly observed.

References

Alcohol laws in Australia. (2019). Retrieved November 9, 2019, from https://www.health.gov.au/health-topics/alcohol/about-alcohol/alcohol-laws-in-australia Bitner

Keller, K. (2019). ​Strategic Brand Management ​ . [S.l.]: Pearson Educated Limited

Constantinides, E. (2006). The Marketing Mix Revisited: Towards the 21st Century Marketing. ​Journal of Marketing Management, 407-438

Dan Murphy's - Woolworths Group. (2019). Retrieved November 9, 2019, from https://www.woolworthsgroup.com.au/page/about-us/our-brands/liquor/Dan_Murphys/

Dan Murphy's. (2019). Retrieved November 9, 2019 2019, from https://www.danmurphys.com.au/help/delivery-options

En.wikipedia.org. (2019). ​Dan Murphy's ​ . [Online] Retrieved from: https://en.wikipedia.org/wiki/Dan_Murphy%27s

Keller, K. (2019). ​Strategic Brand Management ​ . [S.l.]: Pearson Educated Limited

En.wikipedia.org. (2019). ​Dan Murphy's ​ . [Online] Retrieved from: M. (1990). Evaluating Service Encounters: The Effects of Physical Surroundings and Employee Responses. ​Journal of Marketing

Frue, K. (2018). PEST Analysis of the Beer Industry. Retrieved November 9, 2019, from https://pestleanalysis.com/pest-analysis-of-the-beer-industry/

Subject: Marketing and PR

Pages: 11 Words: 3300

Marketing Project

Your Name

Instructor Name

Course Number

Date

Marketing and PR

Marketing Research

Market Research is a process of collecting information about target market. The concept of market research is to provide business organization with a thorough view of the consumers to be able to fulfil their needs in a better way. The process of market research is important to compete in the market and helps in analyzing the market size, needs and competitors etc.

This research is undertaken on providing an online medical service in an organized fashion. Opinions from different sources and social research have been obtained.

Factors to be investigated through market research

Trends in the market – currently there is no online medical service with the vision and plan that we are likely to offer

Segmentation of the market – the online medical service would be available for everyone within certain geographical areas. Geographical segmentation is necessary because it will not be possible for us to cover huge geographical area in the start of our service. Our own geographical area will serve as a test case for our service. Within this geographical area, we will opt for mass marketing strategy which will mean that our services will be available for all people within this geographical vicinity.

Information available – we couldn’t find any information in the market related to the charges of any online medical services that are being provided. This will mean that our service will be pioneer in this aspect of service delivery.

SWOT analysis – according to the swot analysis , the strength of our service would be the small number of competitors that are not running the business properly according to needs of the clients, weakness of our service would be the same as our strength because we will have limited information about the business needs and target market. our online service is going to have many opportunities to make its online presence and would have to put a lot of effort in the market because of inactive competitors. Our business plan has only few minor threats like lack of awareness among people to use the online services and lack of trust because majority of the people prefer to see their see trusted doctors.

Primary Data

The primary research techniques that we used are:

Focus groups

A group of people was asked some insightful questions regarding the service, its development and their feedback was collected. We made sure that the division of the group depended on the targeted audience which included old men and woman, mothers and teens. we got a positive feedback about the services we intend to provide. They enlightened us with the customer a market trends that are in practice and what needs to be added. They were compensated with free discount coupons CITATION Dav16 \l 1033 (Stewart and Shamdasani).

Observation

The observation technique was used to observe through interaction with the subjects. Behaviors of the respondents were assessed. This approach is more personal as compared to surveys and questionnaires because of the direct interaction.

Secondary Data

Various secondary data sources will be used by our service before launching. Websites of various hospitals will be one of the major sources of secondary data for our service. This will allow us to know how many patients walk in any of these hospitals. Health insurance companies will also be a considerable source of secondary data for us. We will come to know the major claims received by these companies and will adapt our service accordingly. Various health related reports on the internet will also help us to analyze what exactly to add in our application.

For an online business, there are two approaches to decide on product, price, place and promotion. One approach is to consider the 4 C’s instead of 4 p’s of marketing CITATION Kin12 \l 1033 (Sam and Chatwin).

Product (Customer)

Product is defined as the thing that can satisfy the needs and wants of customers. In this regard, customer will be deciding what a business will be selling rather than a business selling what it can manufacture CITATION Cha09 \l 1033 (Goi). This aspect is especially applicable to the online scenario discussed here. The major difference between product and service is that in a service delivery, there is least tangible aspect and customer experience is very important. The online medical services will provide quality experience to customers. We will have various hospitals on our panel which will all be connected through our online application. Whenever a person needs any medical service, he or she will just put the needs on application. The nearest hospital will respond to need of that customer CITATION Ele16 \l 1033 (Pogorelova, Yakhneeva and Agafonova). If more than one request comes from same area, some other doctors will attend the next call. In order to make sure that service quality is maintained, we will provide customers with service assessment forms when they have received our services. For the start, there will be a specific number of ambulances attached to our system. These ambulances will be called up if needed through a separate part of our application. Our backup team will make sure that our service does not remain down for even a small period of time so that none of our customers get dissatisfied. There will be newer versions of our application for customers so that we improve ourselves on a continuous basis. Our market strategy is to build on its core alliance with the leading group of doctors in the County, using the company's expertise in the healthcare industry. The company has developed a strategic alliance with medical centers. These alliances are valuable to TMG because these Medicare systems will support development, and because they can also provide, under contract, infrastructure services that will enable TMG to avoid costly infrastructure start-up costs and delays as it moves into operations.

Price (Cost)

As discussed earlier, there is no competitor available for us in the market and our service will be the pioneer in online medical services. This will allow us to opt for any pricing strategy that we want. We will start our pricing as skimming pricing strategy which means that our prices will be a bit high in the start CITATION Sha15 \l 1033 (Quarton). This will help us in taking away a big chunk of revenues at the start of our services. Although there will be less customers in the start for our service but higher price will mean that our revenues will be higher. The skimming pricing strategy will be based on customer demand. With the passage of time, other companies will also enter in the market, forcing us to lower our prices. We will charge such a low price for our services that no competitor will be able to compete us CITATION Aru01 \l 1033 (Daripa and Kapur). We would afford charging such a low price because we will have a name in the market and we have also obtained highest revenues from the market. This is called penetration pricing and is used to get any competitors out of the market. This pricing strategy is based on competition.

Promotion (Communication)

Promotion is the way by which a business communicates its offerings to its customers. In case of online medical services, we will use electronic, print and social media to promote our business CITATION Blu10 \l 1033 (Blue Fountain Media ). First step in promotion is that an active and user-friendly website is developed that not only contain all information regarding our services but also have various promotional campaigns available for customers. These campaigns will offer customers discounts and bonuses on using our services. We will make sure that we are actively present on the social media in terms of pages and advertising. We will select 10-15 relevant groups and pages on which our service’s advertisements will be run continuously. There will be videos of satisfied customers on the social media which will encourage other people to try our service when needed. The major objective of social media advertising will be to create awareness in prospective customers. Once awareness is created, electronic and print media advertising will result in increased revenue. The print media will also help us to create awareness but we will make sure that the advertisements are given in the local newspaper initially CITATION Par16 \l 1033 (Deshwal).

Placement (Convenience)

Although we will not deliver any physical product to customers, yet we will be physically present in the market. We will have our customer services centers at many prominent places of our city. These centers will resolve any issue that arises either with the customers or with service providers. For the first year or so, our services will cover our own city only. This will enable us to analyze the pros and cons of our service. There is no use of retailing in this service delivery project.

Our services are related to a necessity of life i.e. medical facilities which means that it will cover the whole consumer buying process once any need arises.

Personal e health readiness questionnaire

Internet use for any purpose

How often used? have an easy access? mostly used for?

About yourself and health information?

Gender, age, health information

How much confident are you for using internet for health?

Not confident, have trust issues, very confident

Overall view about using online medical services

Cost concern, any barriers, not interested in using online service

Personal skills for using the internet

. Would be able to order online prescription or convey your problem

Have used an online medical service in the past

never, if yes, was it any good?

What kind of an online service can stand-out?

less costly

Works Cited

BIBLIOGRAPHY Blue Fountain Media . "https://www.nypl.org/sites/default/files/online_business_strategy-pdf_version.pdf." 2010. https://www.nypl.org. 28 September 2019.

Daripa, Arup and Sandeep Kapur. "http://www.bbk.ac.uk/ems/faculty/kapur/personal/personal/epricing.pdf." March 2001. http://www.bbk.ac.uk. 28 September 2019.

Deshwal, Parul. "Online Advertising and its impact on Consumer Behavior." International Journal of Applied Research (2016): 200-204.

Goi, Chai Lee. "A Review of Marketing Mix: 4Ps or More?" International Journal of Marketing Studies (2009): 1-15.

Pogorelova, Elena V., et al. "Marketing mix for e commerce." International Journal of Environmental and science education (2016): 6744-6759.

Quarton, Shaun. "https://www.elegantthemes.com/blog/tips-tricks/six-effective-pricing-strategies-for-online-businesses." 14 September 2015. https://www.elegantthemes.com/blog/tips-tricks/six-effective-pricing-strategies-for-online-businesses. 28 September 2019.

Sam, Kin Meng and Chris Chatwin. "Measuring E-Marketing Mix Elements for Online Business." International Journal of E-Entrepreneurship and Innovation (2012): 13-26.

Stewart, David W. and Prem Shamdasani. "Online Focus groups." Journal of Advertising (2016): 48-60.

.

Subject: Marketing and PR

Pages: 5 Words: 1500

Marketing Report In Two Parts

RUNNING HEAD: MARKETING ASSIGNMENT

Marketing for Sony

Marketing for Sony

Introduction of Sony Corporation

Sony Company started by Masaru Ibuka in 1945. He was working with the Japanese army and named the company Sony because people were having trouble with the Japanese name. The name was a combination of two words meaning sound and a little son. The mission statement of company states that it wants to fulfil the curiosity of its customers. The company's passion for technology, content, services and consistent innovative methods helps it to deliver latest products in entertainment industry in ways that only Sony can. The company offers TV & video, audio, digital camera, smartphones and internet, game & network services, pictures, music, and financial services.

Micro Environment faced by the company

This shows all internal and external groups, which can affect the ability of a company to run its business. These include suppliers, marketing intermediaries, employees, and customers. Employees of the company are properly trained with respect to usage of technology to provide latest products to their customers. Customers are at the core of all company actions and policies, and customer care is easily accessible to all customers as it is available online through various applications and company websites. Suppliers pay a very important role in allowing the company to provide quality products to its customers. The company has set supply chain code of conduct so that suppliers can better understand what company expects from them. The basic criterion for assessing a supplier is its risk level for choosing new suppliers and assessing their manufacturing facilities. If the risk is high, the company will make an on-site assessment of the suppliers, whereas a lower risk is covered by simply a request to comply with code of conduct properly. The risk factors are assessed based on country or region, their business size, and type of business. There are questionnaires filled up by the suppliers for their relevant risks, and the company assesses the results to see how much suppliers are complying with the given standards CITATION Son19 \l 1033 (Sony.net, 2019). As far as intermediaries are concerned, company has stopped some retailers from selling digital download codes for play Station 4 games from April 1, 2019. This will mean that people who are not willing to provide their credit card information in PSN platform, will not be able to buy digital versions of games from physical stores. The decision was taken to make sure that all key businesses are aligned globally. The final purchase will have to be made on PSN rather than from the stores. CITATION Nic19 \l 1033 (Statt, 2019).

Macro Environment analysis

On the macro level, the business environment of the country is very much suitable for investments. There is stability in the political environment of a country which develops the confidence of investors in the country. The recent changes in policies have made Australia one of the top rated countries for business in the region. In the economic aspect, Australia holds 13th spot in the largest economies of world with a growth of more than 2 per cent shown in the year 2017. The property purchases with money down payments have increased in the country. Australia has a favourable currency rate as compared to other countries which also makes it favourable for businesses. As far as social factors are concerned, Australia has a smaller population as compared to other countries. The society has three major classes, working, middle and upper class. Sony products are basically targeted at middle and upper class people. Australia is known for its technological innovations, and people adopt newer technologies faster than people from other countries CITATION Kie191 \l 1033 (Frue, 2019).

Strengths

The company has one of the strongest brands in the markets wherever it operates, which means that customers are easily attracted to any new product offered by the company. The company is working in a large number of businesses which helps company to minimize the risks associated with different markets. There are many popular and profitable products offered by the company, e.g. play station, which ensures that company earns a profit despite competitive rivalry. Continuous business success is ensured by these strengths and company is also improving on technological aspects of its businesses to make sure that these strengths are long lasting.

Weaknesses

Although the company has done well in the electronic equipment market, it has much work to do in the mobile phones and devices market as compared to major competitors like Samsung and Apple. The company is also hugely dependent upon the online services and has to make sure that its databases and networks are not affected by data loss and theft.

Opportunities

The working class in the country presents a big opportunity for the company, and this opportunity is further backed by the technological excellence of the company. There can be some new products which are specially designed for working class according to features and prices. For the segments already catered, company can manufacture more advanced products. The company can also start dealing with computer chips and hardware.

Threats

Major threats to the company come from cyber-attacks because there is greater reliance on the company on online networks and databases. Detecting and stopping the piracy of its major software is also a threat to the company CITATION Rob19 \l 1033 (Greenspan, 2019).

The company has two options from the current situation, either it can go to some other country which it does not cater to or where it will not face fierce competition, or it may bring some changes to its strategies in Australia to cater the market in a better way. Both these aspects represent different categories of Ansoff’s Matrix. Market penetration will take place if the company decides to remain in the same market with the same product. Market development is a situation where a company takes its existing products to a new market. The company should take the first option of making certain changes to its products and catering the Australian market in a better way. This is applicable because all the analysis for this market has been done by the company, and company is also well aware of its characteristics. It will have to conduct all analyses for the new market from scratch.

Part 2

Sony Company started by Masaru Iuka in 1945. He was working with the Japanese army and named the company Sony because people were having trouble with the Japanese name. The name was a combination of two words meaning sound and a little son. The mission statement of company states that it wants to fulfil the curiosity of its customers. The company's passion for technology, content, services and consistent innovative methods helps it to deliver latest products in entertainment industry in ways that only Sony can. The company offers TV & video, audio, digital camera, smartphones and internet, game & network services, pictures, music, and financial services. The mission statement shows the critical roles played by mission and vision in growing and positioning of a company. The vision statement focuses on technological passion for differentiating the company from its competitors. The mission statement shows how goals set in vision statements will be achieved. The mission statement shows the activities undertaken by company to achieve the objectives and impact of these activities on the sector as a whole. Sony Australia is a wholly owned subsidiary of the Sony Corporation of Japan that has been working in Australia for more than 40 years CITATION Son191 \l 1033 (Sony, 2019).

The plan is about catering that part of the Australian population which has lower income at hand. The technological excellence of the company will allow it to make such a product that will have a lower cost of production and can be offered at a relatively lower price. The objective for company will be to cater to the majority of Australian population, so that company revenues are increased. With more and more technological innovations, the company will also aim to decrease its expenses so that profits are increased over time.

Objectives

Increase market share by at least 5% within the next 12 months

Decrease expenses by 2% in the next financial statements

Increase profit by 1% in the next financial statements

Micro Environment Analysis

This shows all internal and external groups, which can affect the ability of a company to run its business. These include suppliers, marketing intermediaries, employees, and customers. Employees of company are properly trained with respect to the usage of technology to provide latest products to their customers. Customers are at the core of all company actions and policies, and customer care is easily accessible to all customers as it is available online through various applications and company websites. Suppliers pay a very important role in allowing the company to provide quality products to its customers. The company has set supply chain code of conduct so that suppliers can better understand what company expects from them. The basic criterion for assessing a supplier is its risk level for choosing new suppliers and assessing their manufacturing facilities. If the risk is high, the company will make an on-site assessment of the suppliers, whereas a lower risk is covered by simply a request to comply with code of conduct properly. The risk factors are assessed based on country or region, their business size, and type of business. There are questionnaires filled up by the suppliers for their relevant risks, and the company assesses the results to see how much suppliers are complying with the given standards CITATION Son19 \l 1033 (Sony.net, 2019). As far as intermediaries are concerned, company has stopped some retailers from selling digital download codes for play Station 4 games from April 1, 2019. This will mean that people who are not willing to provide their credit card information in PSN platform, will not be able to buy digital versions of games from physical stores. The decision was taken to make sure that all key businesses are aligned globally. The final purchase will have to be made on PSN rather than from the stores. CITATION Nic19 \l 1033 (Statt, 2019). Technological aspects will be used to manufacture such products which will cost lower to company and will be offered to low income people of the country. Suppliers will also play an important part as company may have to find suppliers who can easily reach the bulk of target market and at the same time provide parts that are cheaper than others.

Macro Environment analysis

On the macro level, the business environment of a country is very much suitable for investments. There is stability in the political environment of a country which develops the confidence of investors in the country. The recent changes in policies have made Australia one of the top rated countries for business in the region. In the economic aspect, Australia holds 13th spot in the largest economies of world with a growth of more than 2 per cent shown in the year 2017. The property purchases with money down payments have increased in the country. Australia has a favourable currency rate as compared to other countries which also makes it favorable for businesses. As far as social factors are concerned, Australia has a smaller population as compared to other countries. The society has three major classes, working, middle and upper class. Sony products are basically targeted at middle and upper class people. Australia is known for its technological innovations, and people adopt newer technologies faster than people from other countries CITATION Kie191 \l 1033 (Frue, 2019). The political environment of country is conducive to business development, and there are no specific hurdles in conducting business. This has prompted the company to expand its business within Australian market to cater it in much detail. The economic outlook of the country is also positive enough because it is ranked higher in the list of largest economies in the world.

Strengths

The company knows various environmental factors related to the country because it has been working for a longer period of time here.

The company has a strong technological background which means that it can make low-cost high-quality products suitable for the lower income group. The technological background will also let company develop mobile phones which will suit all segments of market.

The global presence, along with environmental knowledge, will allow the company to put in resources to capture the target market.

Weaknesses

Although the company has done well in the electronic equipment market, it has much work to do in the mobile phones and devices market as compared to major competitors like Samsung and Apple. The company is also hugely dependent upon the online services and has to make sure that its databases and networks are not affected by data loss and theft.

Opportunities

The biggest opportunity for the company is to cater to the lower income group of society which cannot afford high priced products. The other opportunity will be the population that wants mobile phones which are lower priced than Apple and Samsung, and at the same time, their specifications will have to match those offered by the competitors.

Threats

The biggest threat is that competitors may come up with some products that will outperform products offered by company.

Marketing Mix

There are 4 major aspects of the marketing mix for any offers, product, price, place, and promotion.

Among the strategies presented by Ansoff in a matrix, Sony will apply market penetration strategy because it will be further exploring a market which is already catered by it. It is also trying to provide a new product to the existing market, which can come under market development. The company can take any of these strategies and aim to increase its market share within Australia.

Product

The product includes the whole set of offerings that are provided to the customers. In this scenario, the core products are mobile phones and other electronic devices which will satisfy the entertainment needs of their consumers. The generic product will show the specifications of a product, e.g. memory aspects of a phone or features of television. The expected product includes expectations which consumers have established about a product, and these may include ease of use for a phone and good voice quality in case of audio devices. The augmented aspects will contain the various features installed on these phones and other electronic devices. The company will have to make sure that products include a variety of features. These products can also be considered limited versions of products offered at higher prices. Technological improvements and implementations will allow the company to decrease its overall expenses which is one of the aims of this plan.

Price

There are two important considerations for the company to think about, price setting technique and pricing strategy. A price setting technique is either based upon cost or perspective revenues. In the present scenario, we will opt for the cost-plus pricing technique, which will allow the company to assess all costs before setting the price of its products. The penetration pricing strategy will be followed by the company because it is aiming to target price sensitive customers who have limited purchasing power. Following this strategy will also affect the competitors of the company because they may lose sales to Sony. There will be a limited number of features available to customers because these products will be lower priced. Adopting this strategy may even force some competitors to leave the Australian market, but these competitors are big companies that will be able to survive the challenge. Using price as the sole competitive arsenal can be dangerous because big companies can reduce their prices further to win a competition. The actual aspect of new product is delivering value to its customers. Decreasing the price of products will increase the overall revenue of the company because the demand for these products is inelastic. The reduction of price will increase the market share of the company, which is one of the aims of this plan. Increased revenues, coupled with decreased expenses, will lead to an increase in profits of the firm. The company can also have different pricing strategies for different segments. It can have skimming or competitive pricing for the existing segments so that they continue to generate reasonable revenues for company.

Place

The company will offer these products at various stores all across the country, including its own stores of the company. The reason behind using other shops and stores is that people must be able to buy products from shops which will be near to their homes. There must not be any confusion regarding the target markets of various products. Retail stores can be used to display these products.

Promotion

This is one of the most important aspects of the marketing mix because the company is changing some aspects of its products and target market. The company will have to use all options of advertising available to it so that it can reach maximum people from its target market. Electronic and print media will be jointly used to aware people about the exact offerings. It is very important that a company delivers what is being communicated in its advertisements. Social media and internet should be used to communicate new offers to the target market. There may be banners displayed at prominent places of the city so that more and more people are able to see these offerings. Internet marketing will play an important part in the overall advertising campaign for the company. It is important to note that use of these modes is not meant for cost reduction because cost reduction was the major aim of technology usage. The major aim of online and social media advertising is to reach an increased number of customers within a given time. The advertisements should communicate the lower price along with the reduced features offered in these products. Effective use of various modes of promotion will make sure that a majority of people know about the offering. For sales promotion, certain events can be selected to put company stalls to sell a particular productCITATION Rob17 \l 1033 (Greenspan, 2017).

The success of the company will depend upon the coordination of all aspects of the marketing mix so that all aspects of this plan go in the same direction. It is important that the objectives of a marketing plan are referred to regularly because they will provide the benchmark against which performance will be measured.

Bibliography

BIBLIOGRAPHY Frue, K., 2019. https://pestleanalysis.com/pest-analysis-of-australia/. [Online] Available at: https://pestleanalysis.com/pest-analysis-of-australia/

Greenspan, R., 2017. http://panmore.com/sony-corporation-marketing-mix-4ps-analysis. [Online] Available at: http://panmore.com/sony-corporation-marketing-mix-4ps-analysis

Greenspan, R., 2019. http://panmore.com/sony-corporation-swot-analysis-recommendations. [Online] Available at: http://panmore.com/sony-corporation-swot-analysis-recommendations

Sony.net, 2019. https://www.sony.net/SonyInfo/csr_report/sourcing/supplychain/suppliers.html. [Online] Available at: https://www.sony.net/SonyInfo/csr_report/sourcing/supplychain/suppliers.html

Sony, 2019. https://www.sony.com.au/electronics/corporate. [Online] Available at: https://www.sony.com.au/electronics/corporate

Statt, N., 2019. https://www.theverge.com/2019/3/25/18281538/sony-playstation-4-gamestop-stop-selling-game-download-codes-retailers. [Online] Available at: https://www.theverge.com/2019/3/25/18281538/sony-playstation-4-gamestop-stop-selling-game-download-codes-retailers

Subject: Marketing and PR

Pages: 10 Words: 3000

Marketing Strategy

Branding Strategy

[Name of the Writer]

[Name of the Institution]

Branding Strategy

Introduction

Adidas Yeezy is the brand that was created when the collaboration happened between American Rapper Kanye West and the American Sportswear brand Adidas. The idea behind the brand Adidas Yeezy was to make sure that the celebrity status of Kanye West can be used to cater the audience that belonged to the demographic that seems to have affiliation with him. At the same time, Kanye West himself propagated a style and these shoes are based on that style. The first item of the brand was released in October 2015 and from then onwards, they are being made the part of the four different colourways. Adidas has been using a special material for the brand that they have referred to a Boost. The deal was not approved by the LVMH board and West was left with no clothing partners. After the "Yeezy Season 1" show, Adidas announced they would no longer be a part of Yeezy apparel. Instead, they will only be collaborating on footwear. With Yeezy Season 6, we are introduced to several articles of clothing with adidas branding.

Problems Faced by the Brand Adidas Yeezy

Despite the fact that it is affiliated with one of the biggest brands of the world, it has been far from smooth sailing for Kenya West, one of the reasons that the product has not been able to create its mark is due to the fact that the brand penetration has been far from ideal for the given product. At the same time, the other major reasons that the brand has not been able to be a success is due to the fact that there is lot of negative publicity faced by the brand. The accusations have been made that Kanye West is defrauding the workers in the allies of the brand. This is in stark contrast to the success that his wife has been able to make. No matter what one thinks about Kim Kardashian, the argument can be made that she has been able to create one of the biggest brands in the world due to her efforts. The other major problem is that the product itself has not been able to replicate the quality of the Adidas brand in the isolation. There are many reasons for it but one of the reasons that the reception about the quality of the products has not been good is due to the fact that Kanye West is himself trying to take hold of the production process and is not allowing the right people to make decisions in this regard. The ideal thing that is needed to be done in this regard is that the right people must be allowed to make decisions with regards to the brand and how it is supposed to progress and move forward.

Recommendations for the Brand

One of the first thing that is needed to be done by the brand is to make sure that they revaluate their strategy in terms of the public relations. The social media and the other forums must be used to make sure that the all the claims about the product being manufactured through abuse of the labour are needed to be brought down. One of the reasons that it is such a huge risk is due to the fact that any negative publicity in terms of the PR is going to be the major driving force behind the lack of long-term sustainability of the brand. At the same time, the other thing that has to be kept in mind is that how the leveraging of the brand is supposed to be done. The idea must be to make sure that the brand has to be leveraged in an appropriate manner and there has to be an attempt to ensure that the brand name of the Adidas that is associated with the brand is needed to be used in an appropriate manner when the decisions making pertaining to the brand is supposed to be made. The better they become at using and leveraging the brand name of Adidas, the higher is the likelihood that the brand would turn out to be a major success. Coming towards the other major aspect of how the branding can be created in a more successful manner, the ideal thing that has to be done here is have this understanding that how the sustainability concerns that have developed about the brand are needed to be taken care off. Again, it has to be noted that it is one of the issues that is going to be one of the major pain points for all the stakeholders in terms of how the broader decision making is being done at the level of the brand and efforts must be made to mitigate any negative publicity that the brand is facing at the given point of time. The brand must take a cue from how Kanye West’s own wife is leveraging her celebrity status as she only allows the brand to be used for the positive reinforcement of her lifestyle and this is another thing that can be done by the brand to make sure that they stay ahead of the curve in terms of the broader business planning. When Kanye left social media in 2017, a group name called YEEZY MAFIA started to leak and announce anything YEEZY months before official announcement, there has been some controversy around this group while some even thought that it was Kanye behind this account.

References

Arora, N., Dreze, X., Ghose, A., Hess, J. D., Iyengar, R., Jing, B., ... & Sajeesh, S. (2018). Putting one-to-one marketing to work: Personalization, customization, and choice. Marketing Letters, 19(3-4), 305.

Kim, J. W., Magnusen, M., & Kim, Y. K. (2016). A critical review of theoretical and methodological issues in consumer satisfaction research and recommendations for future sport marketing scholarship. Journal of Sport Management, 28(3), 338-355.

Tuten, T. (2017). Real world experience, virtual world environment: The design and execution of marketing plans in Second Life. Marketing Education Review, 19(1), 1-5.

Zhao, Z., & Balagué, C. (2015). Designing branded mobile apps: Fundamentals and recommendations. Business Horizons, 58(3), 305-315.

Subject: Marketing and PR

Pages: 3 Words: 900

Marketing Strategy Activity 3

Activity 3

Your Name (First M. Last)

School or Institution Name (University at Place or Town, State)

.

Critically analyze the company’s current marketing communications strategy. Explain how the current approach/strategy has helped and/or hindered the company’s ability to grow revenue.

Company History

Beyond Meat was founded by Ethan Brown in 2009 with a mission to create the future of protein. It is a Los Angeles based company manufacturing meat directly from plants with an intention to protect animals on this planet. Its products are currently available across America since 2013, and it launched its products internationally in 2016. Now Beyond Meat products are displayed in more than 35000 grocery stores, restaurants, shops, and hotels around the world. Its international market is rapidly growing, and now its products are available in more than 40 countries around the globe. The products are manufactured from plants, which are free of soy, gluten, and GMOs. It produces delicious juicy burgers, and sausages which are healthy, hygienic, sustainable, and friendly for both animal and plants. The company is listed with NASDAQ and its stock price is 169.96. Its initial public offering price of shares was $ 25 which has been tripled within three days of its offering in the stock market. The company offered its shares to the general public through NASDAQ on the 2nd of May 2019. It was considered as the best IPO of the year, as its value rose up to 3.8 billion USD. Beyond Meat has initially offered 9.625 million USD common shares. Its revenue in 2019 was recorded as $87.9 million and its net losses were $29.9 million.

Marketing Communication Strategy

The idea of Beyond Meat was an innovative and novel idea, which was successfully tested and launched in the market. Brown and his team had chosen the best way to communicate their message with its potential customers. The marketing strategy of the company was to produce a unique product which is worthy, and will benefit people to a great extent (Luxton et al., 2015). Some people are conscious about their health, some people prefer tasty foods, while others have concerns about the animal welfare and animal life on the planet. They initially placed their products next to the conventional meat and meat products in the grocery stores. Initially they had hurdles that grocery stores placed their products in the vegetarian section. According to Brown’s views, retailers didn’t believe in the mission of Beyond Meat. In marketing, Mix Placement is an important component, which has great influence on the success of a company. To address the concerns of these customers Brown meat has presented an innovative idea of producing meat directly from plants, with all the useful ingredients of protein, fibers and other components of animal meat, and free of many harmful ingredients which are found in animal meat. Here we will discuss the marketing communication strategy of Beyond Meat.

To enhance and elongate the product’s life cycle, a strong marketing communications strategy is required. During the introduction phase an aggressive marketing campaign is necessary to introduce the features and qualities of the product to its potential customers. After the success of the campaign’s initial stages, the product moves to the growth stage, where the sale of the product is boosted. At the third stage, the product becomes mature and its sale reaches peak levels. Finally the sale of the product declines because of the reduced marketing campaign, and lack of innovation and development in the features of the product (Gunitsky, 2015). Beyond Meat has to enter a new market with an effective and concrete communication strategy to increase the growth stage of the product. However, at the maturity stage, the company has to focus on innovation and bring some incremental innovation or changes in the product to revise the product life cycle. The maturity stage is basically an alarming situation, which signals a company to bring forward some innovative ideas, and avoid the decline stage.

Figure SEQ Figure \* ARABIC 1 Product Life Cycle

Marketing communication strategy is used by a business to reach its target customers through different sources of communication. It basically includes a message, the medium, and the target people (Killian & McManus, 2015). It is essential for a business to have a clear message for the people. The message is encoded by the company and conveyed through different channels or mediums. Market communication is basically the promotion part of the 4Ps of marketing strategy. The four Ps are product, price, place, and promotion. For instance, the company has a slogan of “Eat what you love” which represents its strong beliefs that using plant based meat is more delicious and healthy, and people are enjoying it more than animal based meat. The company has used all its sources to convey its message effectively and switch consumers from animal based meat to plant based meat. Its message contained strong evidence and references of laboratories which tested and certified that its better than the natural meat.

The Message

Message contains some facts and figures, and appealing statements which can grab the attention of potential customers. First of all the company has to understand its potential customers, and knows how to communicate with them. According to Valos et al., (2016) it is essential to know about the needs of the customers, and find a proper solution for the problem or needs of the people. All the marketing communication plans are based on the information regarding the target customers. Beyond Meat have its proper and attractive slogans which are effectively communicated with its potential customers. Due to its proper campaign and using right message people switched to their products which is an alternative for meat lovers, it also grabbed the attentions of non-vegetarians to eat the ‘Impossible Burger’. All its products are tested and found GMO, gluten, and soy free products. Its products are certified by Vegan Awareness Foundation as the real vegan products. The nutritional facts on the product’s packaging are a message for its users which is encoded there to get its benefits. A message must be clear, complete, and short, so that people can easily read or listen it. These messages are conveyed through different medium which to reach its potential customers.

Medium

A message is delivered through different medium such as social media, electronic, and print media. Social media is highly influential and effective, which can boost the sales of the products, and aware customers about the features of the products (Jiang, 2016). There are many sources or medium such as, online advertisement through social media, blogs, and company website. Other media is offline advertising such as print media, television, and billboards. Direct marketing and personal marketing is also a significant source of advertisement and marketing communication.

Receivers

Receivers are the customers of the product and other stakeholders of the business. People always look for new content, and new products, so the company should focus to produce innovative slogans and messages.

Impact of Current Strategy

The current marketing strategy is effective and has boosted its sales. The IPO of the company was one of the best offering of the year. The market shares of the company has expended in more than 40 countries around the globe.

Q.2. Leveraging information in Module 6, (topic 10: Marketing Communication & Promotions; topic 11: Public Relations & Social Media), develop a brief marketing promotion mix plan that can help Beyond Meat drive sales.

Advertisement

Advertisement is an essential tool of communication which can boost the revenue of the product. Advertisement is used to aware people and begins identification and description of the target audience (Aguirre et al., 2015). All the multinational enterprises and local companies spend huge budget on advertisement every year. There are certain methods of advertisement which are broadly used by the organizations through different medium such as print media, electronic media, and social media. Print media includes newspapers, magazines, sign boards etc. While electronic media has wider audience and greater impact, it includes radio, television, and other electronic sources. The most influential medial of the era is social media. Its scope is very high, and businesses use social media as an advertisement media and significantly enhance its revenue and profit.

Beyond Meat is actively using electronic media and social media to aware people about the products, its ingredients, and its uniqueness. Beyond Meat has approached some Hollywood stars for its video advertisements which are run on Television and social media. In social media Beyond Meat is using Youtube for its paid contents, Facebook, Instagram, and Twitter. The company is also using social media influencers to boost its sales. Social media influencing is a modern technique which has greater impact on the revenue of the business. Advertisement through social media and electronic media has boosted its revenue in the last few years. Through advertisement the company has conveyed its message to the potential customers in the best possible ways. The vegetarians and vegans are less than 5 percent of the total population of USA; therefore, the company has always issues with focusing on the niche opportunities. There are more than 1.2 million followers of Beyond Meat on the social media and newsletter, moreover, the company has more than 9.9 billion earned media impressions in the year 2018.

Social Media Marketing

Articles on social media and internet using SEOs have spread the awareness messages among the people and the sale of the company has soared to its new heights. Though the idea was new and people were reluctant to adopt it, so the company’s revenue was below the expected or forecasted revenue. The company is using direct sales and the distribution channels; both are widely used around the world. Distribution channels are beneficial in a sense that risk is diverted and the company can focus more on its operations, and production. For direct sales and supply to the retailers need a proper supply chain and logistics network. This method is useful because the company is directly involved with it customers and gets their feedbacks. Furthermore, this method has greater margin of earnings because the distributor’s margin is cut off. The company has expended its distribution to more than 4000 grocery stores, and restaurants etc around the country by the end of 2018. According to the report of Good Food Institute (GFI), demand of plant based meat has increased up to 23 percent by the end of 2018. Social media marketing is growing rapidly because of its users are soaring around the globe. It has no boundaries and the company can easily target its potential customers around the planet. The use of social media influencers is also increased. The company has to increase its budget and invest more on social media advertisement. Social media influencers can be Hollywood stars, sportsmen, and other social media activists. They have millions of followers and having accounts and channels on social media, so the people are following them (Sobaih et al., 2016).

Sales Promotion

This is the second most influential marketing communication strategy used by companies around the globe. A product doesn’t sell itself; it needs a proper plant to convince the distributors, retailers, and consumers. The way you communicate the features of your product and its brand to your potential customers is known as marketing communication strategy. It contains placement in the stores, offers and discounts and other packages that can attract its customers. There are some offers for customers such as buy one get one free, and 30 % or 50 % off. In case of distribution channels there are some extra margins in low selling products, which can enhance the sales of the company. Beyond Meat is also investing certain amount of marketing budget to get a proper placement in the stores which are more visible to the customers, and offers certain discounts which can grab the attention of the potential customers. The company has boosted its sale by offering different offers initially, that significantly attracted the attention of the customers, and switched to the plant based meat from the animal based proteins. According to the health experts plant based meat is more beneficial for health so the switching decision of the customers are reasonable and logical.

Personal Selling

It is the process through which the companies sell their products by convincing customers to purchase a product. The sales force of a company at the introduction stage of the product tries to convince customers to buy their products. It is effective method in case of introducing new product in a market. For Beyond Meat it will be helpful in the new market place, and when the company launch new product, this campaign will spread awareness. Its purpose is to meet the individual needs of all the potential customers, in order to demonstrate the ways in which our product will benefit them. Beyond Meat doesn’t use this strategy and it would not be very significant for the company at this stage. As the company has its strong distribution network, and the product has earn a good name and position in the market. Therefore, this strategy would not be recommended and beneficial for the company. This strategy is useful for gathering data from the market, and knowing the feedback of customers while testing the product.

References

Valos, M. J., Haji Habibi, F., Casidy, R., Driesener, C. B., & Maplestone, V. L. (2016). Exploring the integration of social media within integrated marketing communication frameworks: Perspectives of services marketers. Marketing Intelligence & Planning, 34(1), 19-40.

Luxton, S., Reid, M., & Mavondo, F. (2015). Integrated marketing communication capability and brand performance. Journal of Advertising, 44(1), 37-46.

Killian, G., & McManus, K. (2015). A marketing communications approach for the digital era: Managerial guidelines for social media integration. Business Horizons, 58(5), 539-54

Sobaih, A. E. E., Moustafa, M. A., Ghandforoush, P., & Khan, M. (2016). To use or not to use? Social media in higher education in developing countries. Computers in Human Behavior, 58, 296-305.

Gunitsky, S. (2015). Corrupting the cyber-commons: Social media as a tool of autocratic stability. Perspectives on Politics, 13(1), 42-54.

Aguirre, E., Mahr, D., Grewal, D., de Ruyter, K., & Wetzels, M. (2015). Unraveling the personalization paradox: The effect of information collection and trust-building strategies on online advertisement effectiveness. Journal of Retailing, 91(1), 34-49.

Jiang, B. (2016, March). Research on Advertisement Marketing Model Based on Intelligent Terminals. In 2016 International Conference on Education, Sports, Arts and Management Engineering. Atlantis Press.

Subject: Marketing and PR

Pages: 7 Words: 2100

Marketing Theories And Practices Between The 1950s And The 1980s Were Largely Consistent With What Can Be Described As A Transactional Paradigm

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1950s and 1980s Marketing Strategies and Transactional Paradigms

Students Name

Course

Professor

University

The City and State

1950s and 1980s Marketing Strategies and Transactional Paradigms

The following paper analyzes the practices in the mtier of marketing theories throughout the 1950s and 1980s that are deemed to be consistent with transactional paradigms. Marketing experienced a substantial revolution between the 1950s to1980s and several improved, and relatively scientific marketing theories emerged with all their blooms. Throughout the era, the contemporarily devised marketing practices shaped the transactional approach that elucidated the conceptual frameworks as marketing management, marketing mix, and four Ps etcetera. By every passing decade, marketing pursued a dynamic demeanor, and after the 1980s, the marketing facades and challenges transformed to a great extent both from present and prospect standpoint.

The transactional paradigm can be defined as a business stratagem that pivots the idea of a single point of the sale transaction. The underlying objective of the transactional approach was elevating the efficacy and volume of individual sales instead of establishing an association with the consumers. The notion of transactional approach appeared in the wake of the 1950s when an American professor Neil H. Borden presented an amalgamation of twelve different variables that are widely known as the marketing mix (Borden 1984, 7). According to Bordens 12Ps archetype, the marketing mix encapsulated the components such as product planning, branding, pricing, personal selling, distribution channels, packaging, servicing, advertising and promotions, and display as well as physical handling. Afterward, the model of 12ps reconstructed by Jerome McCarthy and skimmed into only four fundamental variables that are called 4Ps of marketing and include placement, price, promotion, and product (Goi 2009, 2). 12Ps and 4Ps both marketing models revolved around the objective of making sales in due course, sales volumes and incentives were more signified as compared to relationship development with consumers. During the 1950s, marketing theories also took initiatives in problem-solving and decision-making areas to enhance the efficacy of overall marketing functions. However, the management of the 21st century considers consumers relationship as a vital factor in establishing marketing rapport. Yet myriads of innovative companies are using the 4ps model with a little alteration take the instance of Apple Inc. and Sony both technological giants have incorporated a fraction of transactional paradigm to their marketing tactics.

After a decade i.e., the 1960s, the advent of computer and digital technologies became evident, and such technological progress played an integral role in broadening the scope of almost every fragment of life, including marketing and business practices. During this age, Professor Paul Green proposed the theory of conjoint analysis through which behavioral and social patterns, environmental threats and opportunities, and qualitative evaluation became possible. In this context, the theoretical marketing horizon expanded and enwrapped the preferences of costumers as well as their priceless reactions toward any alteration of products features (Green Srinivasan 1990, 4). The extensiveness of revised practices proffered a refined comprehension of the marketing mix and other functional aspects. It was not before 1975 that Philip Kotler felt a necessity to fiddle with the organizational marketing decisions by addressing the maximization of corporate objectives through the delineation of non-controllable and predictable market behaviors. In this regard, theories of strategic planning and macro-marketing are prevalent (Bloom Gaudlach 2001, 263). Through macro-marketing implementation, the impact of marketing and society on each other was assessed. Meanwhile, strategic planning demonstrated immense concern towards environmental and internal organizational changes. Along the way, several different ideologies such as demarketing and network marketing came to limelight nevertheless, in 1977, efficacy and practicality of marketing management and transactional paradigms started to be questioned by several institutes, including Marketing Science Institute and American Marketing Association. In this context, the transactional approach was identified with significant drawbacks that were hindering the overall productivity and profitability of marketing effectiveness. For instance, the transactional concept was the best fit for expansion but was silent on the situation of stagnation. Such limitations skimmed the consumer-base with a surplus of products in case of increased competition. Moreover, the most ubiquitous adversary of the transactional paradigm was a considerable lack of consumers pivoting that was denying the valuable and valuable position of customers in the overall marketing process and was a detrimental practice for businesses in the long run. Consequently, in the post-1980s scenario, the marketing completely altered its inclination from the transactional approach and leaned towards the customer relationship marketing in order to reap prolonged and perpetual benefits through healthy and loyalty based inter-dependability.

To put it briefly, by the flow of time or should say decades, the fundamental structure of marketing theories changed from transactional to a relational approach to their entirety. In recent epoch, social media and online junctions are stabilizing marketing networks and bringing even remote consumers closer. Furthermore, online shopping platforms such as eBay and Amazon etcetera are enhancing the scope of marketing variables through 24/7 hours of services, accessibility, and immediate feedback. Flawless customer relationship management and marketing tactics of Nike are also perfect instances of the theoretical shift in marketing theories over all these decades. Surprise boxes and membership discounts and offers are evidence of a marketing strategy that revolves around the advantages attained through satisfied, repeat, and ever-increasing customer base. Business is a dynamic entity, and therefore for its thriving survival, it needs to adapt the external and internal environmental challenges and modifications. In modern outlook, all bigwigs of business and retailing, including Starbucks, Nike, Samsung, Coca Cola, Amazon, Apple, and McDonalds etcetera, are striving to pursue relational marketing practices. And in due course, the drastic transactional approach is left behind with all its self-consumed modus operandi.

Bibliography

Borden, N. (1984). The Concept of the Marketing Mix.Journal of Advertising Research, online II, pp.7-12. Available at HYPERLINK http//www.guillaumenicaise.com/wp- content/uploads/2013/10/Borden-1984_The-concept-of-marketing-mix.pdf http//www.guillaumenicaise.com/wp- content/uploads/2013/10/Borden-1984_The-concept-of-marketing-mix.pdf.

Goi, C. (2009). A Review of Marketing Mix 4Ps or More.International Journal of Marketing Studies, 1(1).

Green, P. and Srinivasan, V. (1990). Conjoint Analysis in Marketing New Developments with Implications for Research and Practice.Journal of Marketing, 54(4), p.3.

Klein, T Nason, R 2001, Marketing and development macromarketing perspectives, inHandbook of marketing and society, SAGE Publications, Inc., Thousand Oaks, CA, pp. 263-297, viewed 11 December 2019, doi 10.4135/9781452204765.n12.

Rouse, M. (2015).Transactional Marketing. online SearchCustomerExperience. https//searchcustomerexperience.techtarget.com/definition/transactional-marketing Accessed 11 Dec. 2019.

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Subject: Marketing and PR

Pages: 5 Words: 1500

Marketing Written Assignment

Name

Course

Tutor

Date

Marketing

Consumer perceptions of quality significantly differ due to the perceived attributes of products.

Consumer perception of products often differs due to perceived product attributes. Such perceptions are higher in the category of healthy snack food bars because consumers search and want to experience distinct characteristics and qualities of these products. The search attributes are those that customers evaluate before they purchase. In the snack food bars category, search attributes include freshness, price, ingredients, brands, shape, color, size, and texture. Experience qualities refer to those qualities customers experienced after purchasing the product. In the snack food bars category, customer experience attributes include sweetness and taste. The credence attributes refer to qualities that consumers cannot confidently evaluate even after purchasing the product. These attributes include food safety, environmental sustainability, and other attributes. These attributes influence consumer perception since each consumer has a specific preference in terms of freshness, color and size, and texture. Besides, different consumers have different tastes; therefore, each customer has a distinct perception. The perception of quality differs among the customer as different customers have a discrete perception of quality. Some equate quality to color, size, ingredients, and prize.

Understanding customer perceptions of quality is particularly important for managers in the operation of service businesses. Service quality varies considerably due to various factors that are hard to control. Using the Starbucks as an example, discuss and explain how the following marketing concepts are used to explain variations in consumer perceptions of service quality: intangibility, perishable, inseparability, and inconsistency

The intangibility of products means customers cannot thoroughly verify service since they cannot touch, see, or taste (Lamb, 184). Given the intangibility of services, consumers need proof of the quality of service. Starbucks achieves this by offering quality customer service through the reliable and courteous staff. Friendly and polite staff make customers distinguish Starbucks from competitors. Inseparability refers to the marketing concept meaning the difficulty of separating service from the provider. Starbucks provides top-notch customer service distinguishable from services offered by competitors. Perishability of service means it cannot be stored, saved, or resold. It means that once provided, the service is consumed, and the customer cannot return. Because of the perishability of service, customers look for the best services that guarantee quality. To achieve this, Starbucks endeavors to provide high quality service to customers to shield customers from regretting procuring its services. Inconsistency refers to heterogeneity or uniqueness of services. The quality of services offered varies and can never be repeated. Given this characteristic, consumers often look for the best providers who guarantee services close to ones provided earlier. Starbucks tries to achieve this by staff training and equipping to ensure that services provided are similar.

Works cited

Lamb, Charles W, Joseph F. Hair, and Carl D. McDaniel. Mktg4: Student Edition. Mason, OH: South-Western Cengage Learning, 2011. Print

Subject: Marketing and PR

Pages: 1 Words: 300

Marketing- KenMac

Marketing- KenMac

[Name of the Writer]

[Name of the Institution]

Marketing- KenMac

Kenmac Energy

Kenmac Energy Inc is Canada based PEI’s only locally owned and operated Oil and Propane Company.

The company servicing the residential, farm, and Fishery fuel sectors for almost 28 years.

The company has been found by Dan Maclsaac in 1986 through a purchasing stake in Petro-Canada’s home heating business on PEI.

The company is grown (for more than 30 years) into an Island Wide that provides industry and homeowners with high-quality energy products and services (home heating products and accessories).

Kenmac Energy supports the local fishing industry, farming industry, as well as supplies a full line of Petro Canada Lubricants.

The main products of the company are;

Furnace Oil

Propane

Home Healing Oils

Heat Pumps

Fireplaces

Oil Tanks/Equipment

Barbeques

Commercial

Industry

Kenmac Energy Inc is an energy company whose business line includes the retail sales of fuel oil. The industry that the company operates in, is Oil, Gas & Coal where the sub-industry of Kenmac Energy Inc is Integrated Oils while the sector of business operation of the company is Energy.

Business Environment

Kenmac Energy Inc is an energy company engaged in the retail sales of fuel oil.

The company is a well-established energy company as compared to the competitors in the region.

The company sells and supplies high-quality fuel oil in Wide Island to different sectors and industries such as Farming, and Fishery.

Kenmac Energy Inc can be found as a recognized name for its involvement in the community and public wellbeing.

The main strength of the company is the quality of its fuel oil, the energy they provide and accessories with a strong presence in the market and industry.

Competition

As the organizations or companies get successful, they always have a strong and tougher competition to face all the time. Kenmac Energy Inc is a well-established company that provides good and high-quality products to a wide range of markets in the Island (Canada). Hence the company has some well-established competitors as well. Main competitors of Kenmac Energy Inc are;

IMPERIAL OIL & CHEMICAL Pty Ltd

Dennis K. Burke , Inc.

Prime Lube Inc

Tex-Con Oil Company

Linton Fuel Oils Ltd

Spenergy LLC

IPT Group

Star Lubricants

Consumers

The main consumers of the products of the Kenmac Energy Inc contain industries and homeowner.

They (consumers) further include residential and corporate customers.

The homeowner and residential consumers are individuals who use the company’s products such as Home Healing Oils and Food Grade Products in routine life.

The industry consumers of the company are;

Fishing industry

Farming industry

Petro Canada Lubricants

Challenges

The specific challenges outlined for this project can be;

The purpose of the project may not get accomplished as is growing which means that competition exists.

There is a possibility that young minds may not have huge expertise and experiences about the concern.

Experienced and industry professionals may be needed to fulfill some of the tasks such as find new and insightful ways to market the company.

The budget ($30,000 per year) might not be utilized by young minds as seniors can.

References

Bloomberg. (2019). Kenmac Energy Inc. Bloomberg.com. Retrieved 12 November 2019, from https://www.bloomberg.com/profile/company/6890669Z:CN

Kenmac Energy. (2019). Commercial - Kenmac Energy. Kenmac Energy. Retrieved 12 November 2019, from https://kenmacenergy.com/commercial/

Kenmac Energy. (2019). Why Choose Kenmac? - Kenmac Energy. Kenmac Energy. Retrieved 12 November 2019, from https://kenmacenergy.com/why-choose-kenmac/

McEachern, T. (2019). Kenmac Energy Owner named Entrepreneur of the Year at Charlottetown Chamber Awards | The Guardian. Theguardian.pe.ca. Retrieved 12 November 2019, from https://www.theguardian.pe.ca/business/kenmac-energy-owner-named-entrepreneur-of-the-year-at-charlottetown-chamber-awards-259797/

ZoomInfo. (2019). Kenmac Energy Inc. Zoominfo.com. Retrieved 12 November 2019, from https://www.zoominfo.com/c/kenmac-energy-inc/65194575

Subject: Marketing and PR

Pages: 2 Words: 600

Media Advertising Final Exam

Media Advertising Final Exam

[Name of the Writer]

[Name of the Institution]

Media Advertising Final Exam

1. Who said, “We’re in the idea business, because ideas will be the currency of the

21st century”;

a. James Webb

b. Roy Spence

c. Luke Sullivan

d. Steve Hayden

2. According to Terrence Poltrack, the process of coming up with the big idea is:

a. All about emotion

b. One part reason, one part heart, one part, intuition

c. All about rationality

d. There is no set process; it is different for everyone

3. Swipe files are:

a. Files of information that is stolen from the competition

b. Files of words, images, ads and ideas that can be used to inspire new ideas

c. Files of computer design programs

d. Files of people you want to take a swipe at

4. Campaigns must:

a. All look alike

b. Contain the same headline

c. Be placed in the same media

d. Contain the same big idea and attitude

5. Negatives about your brand:

a. Can serve as creative inspiration

b. Should be recognized in the fine print

c. Should be hidden

d. Must be changed

6. Which of the following statements is true about brainstorming sessions?

a. There should be at least 25 people in them

b. Everyone should participate

c. Stupid ideas should be dismissed early on

d. There should not be a leader

7. Once you develop your big idea, you’ll first need to come up with:

a. Media selections

b. A budget to support it

c. Management approval

d. Many more ideas for individual ads

8. In the “Millennial Women Have güd Scents” case, which media did Burt’s Bees

choose to utilize?

a. Social media

b. Television

c. Print (women’s magazines)

d. Social media and Print (women’s magazines)

9. In writing advertising copy, your goal is to write in such an engaging way that:

a. The copy becomes one with the visual elements

b. Your audience cannot resist the logic in your piece

c. Your audience cannot deny the emotion in your piece

d. Readers will give you their undivided attention

10. A/an ________ compares two things on the basis of a similar feature.

a. Metaphor

b. Analogy

c. None of the choices

d. Simile

11. The best headline length is:

a. Ten words or less

b. Five words or less

c. None of the choices

d. Three words or less

12. In contrast to an ad’s headline, what is the function of the body copy?

a. To complete the story.

b. To provide contact information.

c. To “clinch the sale.”

d. To reference the visual element.

13. Headlines serve all of the following functions except:

a. Capture audience attention

b. Select one’s audience

c. Replace body copy

d. Enhance a visual

14. Instead of bragging in one’s body copy, a better approach is to:

a. Employ a rational approach toward the product

b. Tell your readers what’ your product will do for them

c. Rely more heavily on visual elements

d. Create a bullet list of benefits

15. The process of ad design is much like copy writing because:

a. Both require approval of the creative team

b. It relies mostly on human emotion

c. You have to put your imagination to work

d. It relies more on the rational side of the brain

16. What are the four Rs of design?

a. Research, Reality testing, Revise, Ready

b. Rules, Relevance, Regulations, Rewards

c. Rhythm, Reasoning, Rules, Rewards

d. Reading, Researching, Reality testing, Redoing

17.  Ads that have balance are:

a. Asymmetrical

b. Symmetrical

c. Symmetrical or asymmetrical

d. None of the choices

18. When we look at ads, we tend to follow a/an:

a. Z movement

b. N movement

c. O movement

d. S movement

19. As a general rule, try not to place important elements, such as your logo:

a. In the lower right of the page

b. In the top left of the page

c. In the lower left of the page

d. In the top right of the page

20. As a general rule, try not to set type wider than:

a. 39 characters

b. 29 characters

c. 59 characters

d. 20 characters

21. Reverse type (white on black) should never be used under any circumstance.

True / False

22. Which of the following is not a guideline for writing effective radio?

a. Try to repeat the name of your client at least two times

b. Tailor your commercial to time, place, and a specific audience

c. Write for the ear, not the eye

d. All of the choices

23. The word count for a 30-second radio commercial is approximately:

a. 100-120 words

b. 60-75 words

c. 80-100 words

d. 120-150 words

24. The abbreviation for sound effects is:

a. Snd Effts

b. SFX

c. Snd Effect

d. Snd FX

25. When should you use a produced commercial?

a. When there are sound effects or music and when there are multiple speaking parts

b. When there are sound effects or music

c. When the radio station has a popular on-air personality and when there are

sound effects or music

d. When the radio station has a popular on-air personality

26. A live-recorded commercial format, where the advertiser records the opening and

closing of a commercial, is called a/an:

a. Croissant

b. Éclair

c. Bagel

d. Donut

27. Because radio is a local medium, it’s good to include things such as street

addresses and phone numbers.

True / False

28. A radio script should contain all of the following elements except:

a. Lowercase for speaker names

b. A tag in the upper left corner

c. The date the script was written

d. Double spacing

29. However a radio script is structured, it must begin with:

a. An attention-grabbing opening

b. A “soft” lead-in

c. A female announcer, if possible

d. More than one voice

30. Although the bag of computer-generated, digital tricks is growing almost daily,

copywriters and art directors should be wary of them.

True

False

31. A vignette:

a. Has a celebrity in a staring role

b. Features a day in the life of an average person

c. Features several brief episodes threaded together

d. Tells a story with a beginning, middle and end

32. Testimonials must be:

a. Made by well-known celebrities

b. True and based on experiences of real people

c. Based on experiences of real people

d. True

33. Zoom in/out means:

a. Tilt in/out

b. None of the choices

c. Dolly in/out

d. Pan in/out

34. Crosscutting:

a. Matches consecutive scenes without a narrator

b. Combines two or more parallel actions in an alternating pattern

c. Always has a voiceover

d. Has a narrator voiceover explaining the action

35. Continuity cutting:

a. None of the choices

b. Combines two or more parallel actions in an alternating pattern

c. Matches consecutive scenes without a narrator

d. Has a narrator voice-over explaining the action

36. Words that are appear on the screen against a solid background are indicated by

the word:

a. TITLE

b. SUPER

c. REVERSE

d. SURPRINT

37. Editing can accomplish all of the following except:

a. Condense time

b. Extend time

c. Jumble time

d. Morph time

38. Rather than target specific groups of buyers, successful catalogs aim for the

widest possible market.

True / False

39. The three musts for successful direct mail campaigns are:

a. The envelope, the letter, and the reply card

b. The list, the correct postage, and a forwarding address

c. The list, the message, and the offer

d. The list, the envelope, and the letter

40. Like advertising, the primary goal of direct marketing is to build brand awareness.

True / False

41. Direct marketing is no longer growing rapidly.

True / False

42. The first stage in designing for the Internet is:

a. Research

b. Writing the copy

c. Developing an idea

d. Refining the design

43. A site map is used to:

a. Help make better decisions about how the site will look and work

b. Make recommendations for using technology

c. Identify the different pieces of content

d. All of the choices

44. When writing copy for the Internet, you should do all but:

a. Present complex ideas with bulleted lists

b. Use headlines with clever wordplay

c. Use highlighted keywords

d. Aim for one idea per paragraph

45. As a general rule, each frame of a banner ad should have:

a. No more than three words

b. No more than five words

c. No more than ten words

d. No more than seven words

46. In the “A Big Idea for a Small Space” case, the advertising message focused on

a. The evils of renting

b. Roommates

c. Peace of mind

d. The evils of renting and roommates

47. Social media may be best defined as:

a. A website composed of content created by individual users

b. A website composed of content created by corporate users

c. A series of networked computers, with individual users

d. A “ring” of connected mainframes at universities

48. When fans post negative messages about a product or service, what should you

do?

a. Delete the post quickly

b. Respond quickly and tactfully

c. Challenge your accusers openly

d. Ignore the post and let the social media community handle it

49. Regarding visuals, which of the following is most true?

a. They need not be expensive or of the highest production value

b. Brands always need their own visuals for their social media sites

c. Visuals are not “standalone” messages in their own right

d. One should strive to post the same content to all social media sites

50. The strategy behind brand growth via social media is based on:

a. Maslow’s hierarchy of needs

b. The diffusion of innovation theory

c. The two-step flow model

d. The uses and gratifications theory

51. Planning a successful social media campaign involves all of the following except:

a. Identifying a specific message

b. Planning visuals

c. Developing one-way messaging

d. Determining an entry point

Subject: Marketing and PR

Pages: 5 Words: 1500

Media Buying

Media Buying

Name of the Writer

Name of the University

Media Buying

Introduction

Media buying is a process of taking a newspaper ad or commercial or any other sales message. There is a specific audience that one wants. Media is bought for selling a product as that ad would be published on online magazines, newspaper or TV (Immonen, 2017). An important role is played by a media buyer, as he/she acts on clients and selects a media that would reach the more targeted population.

Steps for selecting a media

It has been seen that selecting a digital or traditional media for the campaigning of a client is only an easy task as one must choose the right media venue and also need to prioritize.

First of all, a media buyer needs to identify the audience of the customer.

Need purpose of the campaign must be understood.

Primary distribution point must be selected, as not every type of media could be used for publishing any content. Content defines which media venue must be used.

Customers need a primary venue that they prefer for receiving their content. A media buyer needs to look into the data provided by the customer that would help in determining a customer's primary media channels.

Five W’s for media planning

Five W's strategy is used widely to make the right decision. First W is "What" to satisfy this element of the buying strategy of media you look for choosing the right product. What is the best medium to make an effective advertisement? What kind of advertisement and what content the audience is looking for. These are the key questions which should be satisfied. Second W is "Who", it means who are my audience and what are their characteristics, taste, and expectations. The content is designed according to the taste and requirements of your potential audience. Third W is "When", it means the right time of the advertisement campaign and buying media. Time is an important factor of buying media because at the right time the maximum audience can be addressed and the message can be conveyed (Martin & Peskowitz, 2018). The fourth W is "Where", to buy a media place and location is important. The decision of the right place is also essential, and in some products and services, it is highly important. Make the right decision according to the location, and examine the best media source in your existing market. It depends on the people of the particular market, and their preferences regarding the media, and the content of the advertisement. Fifth W is “Why”, the reason for making a decision, and finding a logical answer that why you made this specific decision. The reason for choosing a specific media is as per given budget and situation.

Three rules of media buying

First of all, you need to see and analyze all the information that is provided to you by the media seller. If the provided information can satisfy your requirements you should make that buying decision. Secondly, you should negotiate all the terms and conditions, and the price of the media, negotiation is important to get some extra benefits and financial gain. While the final rule of media buying is the presence of mind and staying open-minded (Schultz, et al, 2018). To make a better decision you need to think out of the box. The media must have a positive influence on the sales of the company. If the advertisement on the purchased media does not increase the sales of the company, the decision should be revised. To enhance the impact of buying media decision you need to satisfy all the five W's questions and prepare an attractive content.

References

Immonen, A. (2017). On the frontiers of the media landscape–Organisational new media buying in network context.

Martin, G. J., & Peskowitz, Z. (2018). Agency Problems in Political Campaigns: Media Buying and Consulting. American Political Science Review, 112(2), 231-248.

Schultz, D. E., Block, M. P., & Viswanathan, V. (2018). Consumer-driven media planning and buying. Journal of Marketing Communications, 24(8), 761-778.

Subject: Marketing and PR

Pages: 2 Words: 600

Memo 1

Your Name

Instructor Name

Course Number

Date

Memo 1

The following paper aims to address a memo for Prince Street Pizza in the United States. To compete in market marketing and managerial strategies are important. Moreover, it is also important to set strategies regarding prices based on geographies for which consumers are ready to pay. The consumer behavior is an integral part of marketing because they are the segment who consume products in the market ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"lWUBxxHW","properties":{"formattedCitation":"(Nuseir and Madanat)","plainCitation":"(Nuseir and Madanat)","noteIndex":0},"citationItems":[{"id":617,"uris":["http://zotero.org/users/local/smYQhi21/items/CZB5DWHU"],"uri":["http://zotero.org/users/local/smYQhi21/items/CZB5DWHU"],"itemData":{"id":617,"type":"article-journal","container-title":"International Journal of Marketing Studies","ISSN":"1918-719X","issue":"4","journalAbbreviation":"International Journal of Marketing Studies","page":"78","title":"4Ps: A strategy to secure customers' loyalty via customer satisfaction","volume":"7","author":[{"family":"Nuseir","given":"Mohammed T"},{"family":"Madanat","given":"Hilda"}],"issued":{"date-parts":[["2015"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Nuseir and Madanat).

Setting a target in the market is important for the development of the business as well as to compete with the other market segments, whereas market segmentation is decided based on different dimensions ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"PYnGxlrs","properties":{"formattedCitation":"(Kotler)","plainCitation":"(Kotler)","noteIndex":0},"citationItems":[{"id":529,"uris":["http://zotero.org/users/local/smYQhi21/items/JF4QUG79"],"uri":["http://zotero.org/users/local/smYQhi21/items/JF4QUG79"],"itemData":{"id":529,"type":"book","ISBN":"81-317-1683-X","publisher":"Pearson Education India","title":"Marketing management: A south Asian perspective","author":[{"family":"Kotler","given":"Philip"}],"issued":{"date-parts":[["2009"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Kotler). The main dimensions include geography, demography, and consumer behavior. The targeted market segment of Prince Street Pizza is the general public where they are provided with access to avail their services. This restaurant is providing delicious pizza in New York City, and this is providing home delivery services as well as providing its services in the restaurant.

Pricing strategy is one of the sources to determine consumer behavior in the market and important for the sustainability of the business ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"Nzu60HJD","properties":{"formattedCitation":"(Morellec and Zhdanov)","plainCitation":"(Morellec and Zhdanov)","noteIndex":0},"citationItems":[{"id":504,"uris":["http://zotero.org/users/local/smYQhi21/items/463NHIGT"],"uri":["http://zotero.org/users/local/smYQhi21/items/463NHIGT"],"itemData":{"id":504,"type":"article-journal","container-title":"The Review of Financial Studies","issue":"11","page":"4343-4386","title":"Product Market Competition and Option Prices","volume":"32","author":[{"family":"Morellec","given":"Erwan"},{"family":"Zhdanov","given":"Alexei"}],"issued":{"date-parts":[["2019"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Morellec and Zhdanov). The pricing strategy for the restaurants as compared to others is not extremely high, the willingness to pay can be identified by the demand which has been more. This restaurant is located in New York City and this location contributes to the success of the restaurant. For instance, tourism can be considered who are the consumers of different services. Tourism is one of the segments in New York which is contributing positively to the sustainability and growth of the restaurant. With the change in technological preferences, social media has been the most effective platform for the marketing of the restaurant. They have been engaged their consumers online, more specifically on social media. This is the platform where consumers can order their food. Facebook and Instagram are the two social media platforms which these restaurant is using for their marketing.

Works Cited

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Kotler, Philip. Marketing Management: A South Asian Perspective. Pearson Education India, 2009.

Morellec, Erwan, and Alexei Zhdanov. “Product Market Competition and Option Prices.” The Review of Financial Studies, vol. 32, no. 11, 2019, pp. 4343–86.

Nuseir, Mohammed T., and Hilda Madanat. “4Ps: A Strategy to Secure Customers’ Loyalty via Customer Satisfaction.” International Journal of Marketing Studies, vol. 7, no. 4, 2015, p. 78.

Subject: Marketing and PR

Pages: 1 Words: 300

Millenial, Gen Xers, And Boomers

[Name of the Writer]

[Name of Instructor]

[Subject]

[Date]

Millennial, Gen Xers, and Boomers

A generation refers to the group of people who are born and raised at the same time and place. These people also have other similarities such as communication patterns, preferences and societal values. They shift these values to the next generations. Mainly three-generation are dominating the market today; Millenial, Gen Xers, and Boomers.

The Millenials refer to that generation that born in or after 1982. This generation has experienced terrorism and brought up in the tracker of the wars in Iraq and Afghanistan. Moreover, they also joined the workforce at the time of extreme recession. Other charcterictics of this gernationa are; they like to text more than call and are very close to parents ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"zUsN6VeH","properties":{"formattedCitation":"(Smile Peace Love Creative)","plainCitation":"(Smile Peace Love Creative)","noteIndex":0},"citationItems":[{"id":45,"uris":["http://zotero.org/users/local/CNBGYtRv/items/Z8HCD6XJ"],"uri":["http://zotero.org/users/local/CNBGYtRv/items/Z8HCD6XJ"],"itemData":{"id":45,"type":"motion_picture","title":"Millennials, Gen Xers, & Boomers","URL":"https://www.youtube.com/watch?v=5xdum8MO6LY&feature=youtu.be","author":[{"family":"Smile Peace Love Creative","given":""}],"issued":{"date-parts":[["2011"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Smile Peace Love Creative). New technologies always inspire and fascinate them. Strengths of these generations are their positive attitude and ability to multitasking. Their collaborative style has always fascinated them to work in a team. Marketing to this generation is not as easy as they do not completely go for a luxurious life. Marketers should offer them discounts to increase their sales easily.

In addition, the Gen Xers were born during 1965 and 1980, which was a time of changing societal values. For example, divorce rates were increasing and they were under less supervision. This generation has many positive characteristics such as results focused, relationship and friendly people in addition to that they show flexibility in their decisions ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"EZ3WRC91","properties":{"formattedCitation":"(Smile Peace Love Creative)","plainCitation":"(Smile Peace Love Creative)","noteIndex":0},"citationItems":[{"id":45,"uris":["http://zotero.org/users/local/CNBGYtRv/items/Z8HCD6XJ"],"uri":["http://zotero.org/users/local/CNBGYtRv/items/Z8HCD6XJ"],"itemData":{"id":45,"type":"motion_picture","title":"Millennials, Gen Xers, & Boomers","URL":"https://www.youtube.com/watch?v=5xdum8MO6LY&feature=youtu.be","author":[{"family":"Smile Peace Love Creative","given":""}],"issued":{"date-parts":[["2011"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Smile Peace Love Creative). Moreover, these are self-reliant and accept diversity at work as well. They are easily fascinated by new products and services. Markets can charge higher prices and increase profits.

On the other hand, Baby boomers were born between 1946 and 1964, which is time after World War II ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"YbnR6Ihg","properties":{"formattedCitation":"(Smile Peace Love Creative)","plainCitation":"(Smile Peace Love Creative)","noteIndex":0},"citationItems":[{"id":45,"uris":["http://zotero.org/users/local/CNBGYtRv/items/Z8HCD6XJ"],"uri":["http://zotero.org/users/local/CNBGYtRv/items/Z8HCD6XJ"],"itemData":{"id":45,"type":"motion_picture","title":"Millennials, Gen Xers, & Boomers","URL":"https://www.youtube.com/watch?v=5xdum8MO6LY&feature=youtu.be","author":[{"family":"Smile Peace Love Creative","given":""}],"issued":{"date-parts":[["2011"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Smile Peace Love Creative). This period was marked with countless U.S. political and social disorder. Furthermore, technology has an enormously positive effect on this generation and they are also self-sufficient as they enter the workforce in their early ages. They like to change things soon and get new ones. Marketers must bring innovations in their products to sell them to baby boomers.

Works Cited

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Smile Peace Love Creative. Millennials, Gen Xers, & Boomers. 2011, https://www.youtube.com/watch?v=5xdum8MO6LY&feature=youtu.be.

Subject: Marketing and PR

Pages: 1 Words: 300

Mistine

Your Name

Instructor Name

Date

Marketing and PR: Mistine

ASEAN is the Association for Southeast Asian Nations; it is the intergovernmental organization whose objective is to promote regional stability and economic growth between its ten members which are Philippines, Thailand, Malaysia, Brunei, Singapore, Myanmar, Vietnam, Laos, Indonesia, and Cambodia. Mistine is one of the best and the only direct seller cosmetic brand distributor of Thailand. It also ranks 33 in the list of best cosmetic seller brands in the world. The company generated more than $407 million in revenue in 2014 (Mistine). In Thailand, Mistine satisfies the consumers' requirements of various age groups; it is producing more than 2000 products of different range such as Skin Care, Makeup, Body Care Products, and Fragrances (Mistine). Mistine is getting fame not only locally but also internationally, particularly in the European and Asian region. As it is providing high-quality, affordable and appealing cosmetic products (Mistine). ASEAN would be beneficial in many perspectives for Mistine, as it helps in the reduction of trade barriers within state members which in turn will enhance its economic growth. Through, ASEAN the whole region has become a single production and market base and one can easily commercialize its goods anywhere within the region of ASEAN. ASEAN can also assist in the tariff elimination, which made the services and goods flow easier in the ten member states. The free trade area of ASEAN also controls the elimination of the tariff on more than 8000 products (Mistine). Due to ASEAN, Mistine can have more access to neighboring markets, and the consumers can get a product at less price. In short ASEAN aids companies like Mistine to generate higher opportunities for export. ASEAN also boosts the Area of comprehensive investment which encourages the capital free flow within the region. The investors of ASEAN gained the National treatment immediately, which further facilities in elevating Mistine products exports. ASEAN also organizes summits and meetings regularly, which help in encountering regional issues faced by investors. Thus, collaborating with ASEAN, Mistine can attain several benefits that may aid the brand is expanding its business and become more popular.

Works Cited

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Mistine. https://www.mistinecosmetics.com/about.php. Accessed 4 Nov. 2019.

Subject: Marketing and PR

Pages: 1 Words: 300

MKTG 332

Difference between PR and Marketing

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Discussion Post

I have been working at a local office of a multinational organization. It has a public relations department which works alongside the marketing department. There are some differences between public relations and marketing. Marketing is focused on generating sales directly from the customers. In my company, the marketing department uses tools like discounts and promotions to increase sales. Public relations department focuses on building the reputation of a company by managing communication channels with various stakeholders. These channels include specialized magazine articles to reach stakeholders.

This also means that the media used by the marketing department is properly defined, whereas, there are many media at the disposal of public relations department. Working as an employee in the marketing department, I observed that the company uses a single medium to reach a maximum number of customers. An electronic advertisement includes people from different age groups using the company’s products. The public relations activities were focussed on a single group of stakeholders. A press release containing company stance on equality was aimed at all races.

The messages delivered by public relations department are more powerful than those of the marketing department. The customers are used to looking at various advertisements from the company which communicate marketing content, whereas, public relations content is focused and limited. My organization used the corporate social responsibility aspect to communicate public relations messages CITATION Sus181 \l 1033 (Sefcik, 2018). This phenomenon is helpful in building a positive reputation for the company. It is easier to measure return of marketing expenditures as compared to that of public relations.

Marketing actions have direct results in the form of increased sales and market share, whereas, there are no clear measures to reflect effectiveness of public relation activities. My company releases the social responsibility report along with the annual report. This gives a comprehensive view of all activities undertaken by the company in terms of public relations. The company has to bring certain changes in marketing content as changes take place in the external environment. In case of the company under consideration, technology played an important part in bringing changes to marketing content and communication. The major purpose of both activities is to communicate but to different stakeholders CITATION Jam98 \l 1033 (Grunig & Grunig, 1998).

References

BIBLIOGRAPHY Grunig, J. E., & Grunig, L. A. (1998). The relationship between public relations and marketing in excellent organizations: evidence from the IABC study. Journal of Marketing Communication, 141-162.

Sefcik, S. (2018, March 18). https://www.directdevelopmentpr.com/understanding-difference-pr-marketing/. Retrieved from https://www.directdevelopmentpr.com: https://www.directdevelopmentpr.com/understanding-difference-pr-marketing/

Subject: Marketing and PR

Pages: 1 Words: 300

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