Advertising and Promotion Strategy
Raising awareness about the product a company has at hand is where business begins and it is a great teller of how successful the product will be in the competitive market. The art of communication has become a vital aspect and this is attributed to the fact that there are a wide variety of channels of communication that a company can employ. It is therefore advisable that as a company you be able to come up with a marketing strategy that will make your products stand out from the rest of the crowd. The company should be able to create a message that will be used in giving the product a position in the market. In the current world internet has changed the way business is being conducted and issues of targeting and segmentation are being handled differently (Milkman, 2008).
All this is done with the intention of increasing the revenue and profits of a given organization. It is all about the connections we have that will make us be able to sell our products best. You should be able to tell why the consumers should be able to buy the products you have in the market by summarizing the details about the product. Have a unique approach that will make the consumers have a reason for conducting business with you. Through communication, you are able to act as the problem solver for your consumers and create trust for them. You have to summarize the products services and the package options the organization has and the benefits of each to the consumer. The communication strategy adopted should be one that will give you feedback once the product has been released into the market. As an organization, they should expect both a positive and a negative feedback. Due to this they should be armed with ...
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The marketing idea is tied in with accomplishing corporate objectives by meeting and surpassing client needs superior to the opposition. The best approach to do this is for organizations to consider what value they are proposing to offer to their clients and once this choice is made, choose how to impart this message to their clients/commercial center (Fahy and Jobber, 2012). It is viewed as that there are 3 principle components to the marketing communication mix: tools, media and messages (Baines and Fill, 2014). This essay focuses on the diagram and critique of the initial two of these, tools and media.
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When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
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It is noticeable how all these processes together help business marketers to determine what the customers consider valuable, create solutions, and build effective business relationships with customers. If organizations succeed in offering better value than competitors, communicating the product differentiation, providing everything as promised, and surpassing customers’ expectations, they will easily obtain positioning for
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Several facts are changing in today’s marketing communications. Owing to the growing numbers of alternative communication media and promotion, marketing communication does not just primarily focus on advertising and promotion. Organizations and entrepreneurs begin moving toward the process of integrated marketing communication (IMC), which has emerged as a new concept and the major communication development in marketing in the 21th century. More and more companies adopt IMC to convey a consistent message about their brand and products to derive competitive advantage and brand value. In addition, IMC has developed into a beneficial strategy for companies to reach more customers as well as build good customer relationships. Smith et al. (1999) and Holm (2006) point out that IMC is one of a successful strategy that coordinates and integrates multiple marketing communication tools to efficiently and economically influence between a company and its existing and potential customers. Thus, IMC is perceived as a useful concept. It offers companies a competitive edge in attracting customers a...
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Since the customers are those who set the “rules” when it comes to advertising, companies have to be aware of the characteristics of the culture in which they want to sell their products in order to know how to develop a good advert or to readapt the existent one to the new culture. Regarding to this aspect, we can talk about standardized or differentiated advertising. Standardization is supported by the idea of globalization and that the differences between countries are superficial and people from all over the world should have the desire to buy the same product for the same reasons even though they come from different cultures. Standardization of advertising would first occur in countries that use the same language and have a similar level of economic development (Stephan Dahl, 2004). For some products, standardization would be the best option, for example products that have a correlation between a specific country’s reputation in a particular field and positive associations e.g. chocolate from Belgium- associated with high quality. As well, products that have a visual appeal are very suitable for standardization (Pickton & Broderick 2005, p. 176-179). Even though a product might be suitable for more countries, the consumer’s needs, traditions and usage of the product or service may differ
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“Global advertising gained success when it was perceived to be semantically equivalent to multi-cultural consumers.” (Domzal and Kernan, 1993) The global advertising became a tendency for famous brands, for example, McDonald’s, Sony, or Apple. These brands expand the markets to the world and create original and acceptable advertisements. It is tough for small brands that are known only in the local area to create international advertisements. These brands can rely on the events. For instance, sports events are the representative of global interests and the sponsors of the sports events and the brands tend to create global advertisements. Even though the well-known brands do not have any global advertisements, they can also be a sponsor or advertise ...