ALPHA Audio, a leading global electronics manufacturer, is going to produce the innovative and exciting car audio compact disk recorder and receiver. This product will be capable of recording music off the radio and engraving it onto a compact disk for later listening enjoyment. When the consumer hears a song on the radio that they like, they will press the red, clearly labeled RECORD button on the receiver. For efficiency, a 40-second anti-skip chip has been added, allowing the car driver to record the song in its entirety. This ensures safer driving, reducing the chance of hastily taking eyes off the road to search for a button.
Recording songs off the radio is attractive to people of all ages, as there are several different radio stations of listening choice. This product is anticipated to supercede the past innovations of SONY in sales, which was the first company to produce a compact disc, as well as a vehicular compact disk player.
ALPHA Audio is one of the largest companies in the audio and video equipment industry, holding 26% of the market share, having a strong foothold on a relatively large industry. Like all technology industries the audio industry is constantly growing. Last years revenues of the industry were nearly 200 billion dollars.
ALPHA Audio is the leader in their industry concentrating on all most all aspects of its market, from high to low end equipment and still backing it up with ALPHA name and quality. However they are not alone in this industry.
In this industry there are about thirty other companies, and even with all these companies ALPHA holds the highest market capitalization by 180 billion US dollars. Some of the larger companies are Matsushita Electric, NEC, and Sharp. They hold approximately 25, 6, and 8 percent respectively of the market share. Matsushita Electric is second to ALPHA in the market overall and their revenues have been declining over the past five years.Essays Related to Marketing Plan
Marketing communication plan
Marketing Communications are "all strategies, tactics, and activities involved in getting the desired marketing messages to intended target markets, regardless of the media used" (MarcommWise, 2006). Tony Yeshin (1999) defines marketing communications as "the process by which a marketer develops and presents stimuli to a defined target audience with a purpose of eliciting a desired set of responses" (Yeshin, 1999). Marketing communications are: adverting, sales promotions, personal selling, PR and direct and interactive marketing (Fill, 1999).
Consequently Marketing Communications Plan is the marketing plan which promotional plan incorporates two or more integrated marketing communications mediums aiming to reiterate the same goals and objectives. Marketing Communications Plans are considered by many professionals as an excellent way to effectively communicate with target audience.
Marketing Communications Plans are generally based on two different frameworks: Marketing Communications Planning Framework and SOSTAC (Fill, 1999).
Marketing Communications Plans consist of the following vital elements:
Marketing communications strategy
Promotional mix (methods and tools)
Evaluation and control (Fill, 1999).
When writing marketing communications plan it is important to:
1. Set corporate, marketing and marketing communications objectives, which would support and integrate with each other.
2. Develop segmentation, targeting and positioning strategies
3. Develop creative message with which Marketing Communications Plan with communicate with target audience
4. Select and justify one or combination of marketing strategies (push, pull or profile)
5. Develop well-rounded and creative set of promotional mediums and allocate appropriate budget for each medium.
6. Create contingency planning strategy (in case something goes wrong)
7. Set strict set of evaluation and control.
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Running Head. Marketing Communications
Customer Inserts His /her Name
Integrated Marketing Communication is all about integrating different marketing strategies so that they become one unified force instead of working in isolation. This integration is important so that all the different aspects work in unity in to have the strongest effect on the mind of the consumers. The different aspects of the integrated marketing communications range from advertising. sales promotion public rations. direct marketing to e-marketing and internet campaigns where all are integrated together
so that buying and selling can be promoted in a consistent manner. Essentially. IMC is about using the right promotion tools. advertisements and other sales promotion or public relation materials along with the right media and technology for attracting the customers to the company using the right strategic mix and balance between them. This is not an easy job to do but requires detailed information about the latest marketing and communication tools like e-marketing. latest technological advancements. different forms of media communication and most importantly the psycho-graphics of the target market according to which the strategies are designed (Schultz 1993
My part of the Integrated Marketing Communications Plan focuses essentially on integrating and implementing marketing communication strategies for a furniture company. Jordan operating four stores in different locations and a corporate office and distribution center in its home town. This will discuss how the furniture company can integrate promotional-mix strategies. create and produce ads. design and implement direct marketing programs.
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Table of Contents
1. Introduction 2
2. Marketing Objectives 2
2.1 Sales Objectives 2
2.2 Competitive Position 3
2.3 Customer Actions Desired 4
3. Budget Preparation 4
4. Promotional Mix and Promotional Opportunities Analysis 6
4.1 Promotional Mix 6
Direct Response Marketing and E-Active Marketing 6
Public Relations 6
Sales Promotions 6
4.2 Promotional Opportunities Analysis 6
4.2.1 Communication Market Analysis 6
4.2.2 Communication Objectives 8
4.2.3 Promotional Strategies and Tactics 8
5. Media Mix and Plan 9
5.1 Media Selection 9
5.1.1 Television Media Plan 10
5.1.2 Radio Advertising 10
5.1.3 Magazines and Newspaper Advertising 11
5.1.4 Internet 11
5.1.5 Direct Mail 12
5.1.6 Outdoor advertising 12
5.2 Scheduling 12
5.3 Reach and Frequency Objectives 13
6. Evaluation of Performance 13
Appendix.A Response Card 15
Tokio Hotel is one of the most popular rock bands currently in the world. This German rock band consists of four amazing boys in their twenties, who are Bill Kaulitz (vocals), Tom Kaulitz (guitar), Georg Listing (Bass guitar/Keyboard) and Gustav Schäfer (drums). They made their debut in 2005, and completed some unique tours in the last few years. They have been playing all around Europe and America becoming international superstars since 2006, but unfortunately they have not yet come to Australia (We want Tokio Hotel to come to Australia, 2010). This marketing communication plan is intended to launch and promote a virtual inaugural rock concert for Tokio Hotel in this December. We would like to choose Brisbane Riverstage as the concert venue, which is a great outdoor entertainment amphitheatre located in the heart of the city surrounded by the City Botanic Gardens. The grassed amphitheatre can accommodate up to 9000 patrons (Riverstage, 2010). Synchronously, this inaugural rock concert can also be considered as a tentative of future nationwide tour in Australia.
2. Marketing Objectives
Marketing objectives are defined as what the organization is trying to achieve through its marketing activities during a specified period (Schwarz & Hunter, 2008). To launch a prosperous campaign, any objectives set should be SMART, defined in terms of being: specific, measurable, achievable, realistic, and time-framed (Yull, 2009). In this study, our overall goal is to promote a successful concert through a two-month, ongoing communication campaign. Ultimately, meeting marketing objectives should lead to sales, market share, competitive position, and customer actions desired. 2.1 Sales Objectives
Since concert is one of the important forms of events, any other kind of event like exhibitions, festivals and community events will affect the enthusiasm of our target audiences. Hence, it is difficult to calculate and predict market share in such a complex market background. Consequently, it is the most intuitive approach to estimate ticket sales, which is a significant part of marketing objectives. We expect more than 8,000 people attended the concert since we will use an outside venue with 9,000 seats. It means this concert will have a “sell-through rate” of around 90% with 8,100 ticket sales. To achieve this sales objective effectively, we also make the following auxiliary objectives: * Increase the awareness of this inaugural rock concert among the target audience by 20% in the next two months. * Inform target audience about features and benefits of this rock concert, leading to a stable increase in ticket sales. * Decrease or remove potential customers’ resistance to buying the tickets and attending the concert. 2.2 Competitive Position
Although this December is one of the busiest periods to hold an event, we still position Tokio Hotel’s inaugural rock concert as a market leader compared with other popular activities. We aim to gem a competitive position by strengthening the uniqueness of.
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om there current cellular service to Nextel service. We are very confident that our service will win many companies and consumers. No other company offers a 2-way radio that eliminates charges between two cellular phones. Nextel will give a company unlimited 2-way radio minutes and a certain amount of cellular minutes for the same if not better price than the competitor. This will allow a company of ninety employees, for instance, to reach each other with unlimited 2-way radio statewide, for one monthly fee. This saves the employer reimbursement for all cellular minute usage between all company phones because with Nextel it is unlimited.
After the product is marketed properly throughout corporations nationwide we will target the consumer. We will purchase a chain of retail locations located nationwide numbering around 300. At these locations consumers will be able to test Nextel services, activate service, pay bills, purchase additional Nextel accessories and have any other questions answered. Our prices on cellular phones will be very competitive with other cellular companies. Our rate plans however will be slightly higher due to the high cost of owning our own towers and cost of our retail chains. Another way of expanding our product will be paying smaller cellular agents a commission to sell our product. Therefore our company will be expanding through the sales of our agents and it will not cost us anything but the commission price that we pay them. These agents will be purchasing all Nextel phones through us they will order as many as needed and their main goal is to market our product.
We have developed six phones that are currently available to the public. These phones all include the technology of the 2-way radio service. They range from a variety of sizes, colors, and functions. We offer two very durable phones for our 'outdoor' workers. These phones are waterproof, and are covered with a plastic molding around the phone.Related Essays:
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Victor’s Solution will offer five colors as part of its introductory line which are white, black, grey, red, and navy. We have done market research and found these five colors to be the most common in competitor’s offerings. We plan to introduce more colors once we have achieved a certain level of brand familiarity and potential colors will be determined on the basis of future marketing research. We are trying to minimize risk by going with the colors we believe are the safest choices and can help us build brand familiarity in the shortest possible time. We are very hopeful of Victor’s Solution’s great future but at the same time we do not want to be swept away by over-optimism and go for aggressive production. Once we have built brand loyalty, we will have more room for experimentation with colors and designs.
Our target market will be 18 and above and we also plan to carry plus sizes though in limited numbers. We will be starting with briefs but plan to branch out into boxers within a year if the initial response is encouraging. Traditionally, boxers have offered greater room for design options while briefs have been plain colored. We may be starting with plain colored boxers but one of the ideas through which we plan to differentiate ourselves from competitors is by introducing design themes in boxers as well. As far as we know, no mass market brand has ever toyed with the idea of incorporating design themes into boxers.
We plan to maintain absolute control over distribution so that we are able to carefully cultivate the same image of Victor’s Solution among men that Victoria’s Secret has among women. Fortunately for us, the help is right there in the form of Victoria’s Secret. The company is North America’s number one specialty retailer of women’s intimate apparel and operates about 1,040 mostly mall-based stores in the U.S. and Canada. In addition, the sister company Victoria’s Secret Direct mails about 400 million of its catalogs per year (Hoovers).
We will distribute Victor’s Solution through select Victoria’s Secret stores and plan to hire one or two sales associates per each selected store who will go through formal training. We perceive Victoria’s Secret to be glamorous yet affordable brand and our ultimate goal is to establish the same image of Victor’s Solution among men that Victoria’s Secret has among women. By distributing in Victoria’s Secret stores, we will communicate the connection between the two brands since they both are owned by the same parent company which is Limited Brands. In addition, we will get cheap and significant brand exposure due to the amount of traffic that Victoria’s Secret’s stores attract. We also expect that a significant number of Victoria’s Secret loyal female base may purchase Victor’s Solution products for their better half.Pricing
We like to think of Victoria’s Secret as an affordable luxury that is not very expensive but at the same time has a unique glamorous image attached to it, thanks to the company’s successful marketing strategy. Despite being the largest specialty retailer of women intimate apparel in America, the brand’s value has not been diluted by its wide availability which gives some pricing power to the company.
We aim to build a similar position for Victor’s Solution in men innerwear industry that Victoria’s Secret has in women intimate wear industry. But at the same time, we will also aim for scale while carefully protecting the image of the brand. Given our goals, we will price Victor’s Solution products slightly above the mass market brands such as Fruit of the Loom and Hanes but below upscale brands such as Calvin Klein and Emporio Armani. Our closest competitor in terms of price points will probably be Jockey.Celebrity Endorsers
We have contacted modeling agencies for some of the most renowned male models in the industry. We are already in discussions with Gabriel Aubry, Hollywood superstar Halle Berry’s ex-husband who has enjoyed a prominent modeling career of his own. Instead of going for a mega deal with a single Hollywood actor such as Matthew McConaughey (who was our first choice), we have decided to engage in less-expensive contracts with multiple male models. We will also launch a sales catalogue on the pattern of Victoria’s Secret catalogue where our contracted models will promote Victor’s Solution products.
Victoria’s Secret’s annual fashion show has probably become the most famous fashion show in the industry. The fashion show is broadcasted on a prime television network, attracts numerous celebrities, and garners wide media attention as well as record viewership. We will look into the possibility of dedicating a small segment of the runway show to Victor’s Solution products since all of our contracted male models will already have extensive runway experience and this will greatly increase the brand familiarity as well as appeal of Victor’s Solution products.Need custom paper on Advertising? We Deliver Top Quality On Time As Promised!
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Custom Marketing Communications Plan Memo.
A marketing communications plan is a written document that outlines various marketing strategies or approaches, tactics and activities that are to be carried out by an organization in order to ensure that the desired marketing messages or information reach the intended customers at the most appropriate time. A marketing communications plan usually outlines the approaches to be used when delivering information to target consumers. It also sketches out the schedule of activities to be carried out during the conveyance of marketing messages to customers. In addition, a marketing communications plan also identifies and establishes the most appropriate channels of communication to be used when communicating with customers. Most importantly, a marketing communications plan ensures that useful information that is deemed vital to consumers for making purchase or consumption decisions is conveyed to the customers at the right time to guarantee adequate persuasion of customers as they make purchases.
The following memo has been written to members of the management team of Best Lady Enterprises to provide an elaborative explanation of the importance of various demographic and psychographic factors during development of a marketing communications plan for the business. Best Lady is a small business in a metropolitan area that specializes in production, distribution and selling of high quality and customized designer clothes for women.
Best Lady Enterprises
DATE: March 5, 2013
FROM: Designer Specialist
TO: The Management, Best Lady Enterprises
SUBJECT: Importance of Demographic and Psychographic Factors during the Development of a Marketing Communications Plan
Dear Management Members,
The above subject matter.
This is to bring to your attention that Best Lady Enterprises has decided to increase the production of women’s clothing from fifteen thousand units to twenty thousand units per week. In addition, I would like to inform the top management as well as other employees that the business has also intends to increase the production of high quality and specialized women’s clothing in order to adequately meet the increase in demand for customized and designed clothing for women in the consumer market. With that in mind, this memo intends to inform the management about the importance of various demographic and psychographic factors during the development integrated marketing communications plan for increasing the customer base for the ’s clothing for women.
First and foremost, I would like to highlight the importance of two major demographic factors namely age and income to the development of the integrated marketing communications plan. In my opinion, the age of consumers has great influence on the type of information to be conveyed to the target customers via the marketing communications plan. People of different ages use varying communication tools to share information and usually have access to different communication channels or media. For example, women aged between eighteen and thirty five years often gain information through reading print media such as magazines and newspaper. This batch of women also gains information through active involvement in social activities such as weddings, get-together parties and special occasions like birthday parties and anniversaries. Szmigin (2007) also affirms that most youths, especially women, aged between sixteen and thirty years usually gain information through interactions with close friends and peers. Thus, they tend to consume products that are consumed by their friends and peers. These women also gain information from social networking media such as Facebook, Badoo and Twitter. On the other hand, women aged above fifty years are likely to get information from electronic media especially radio and televisions and from a few personal friends, family members and close relatives. Older women are also more conservative than younger women.
Therefore, it is important for the management of the organization to give adequate consideration of the age of the target customer during marketing communications planning. For example, the organization should place advisement about the designer women’s clothing fashion magazines if the target consumers are women aged between eighteen and thirty five years. The organization may also advertise its products in parties and weddings where a majority of attendants would be women aged below forty years who require trendy clothes. Moreover, the aging population of women presents a smaller market for designer clothes. They should target young women who provide ready market for the designer clothes. This is because most young women like highly customized clothes that make them look more beautiful and fashionable unlike old women whose focuses have been diverted to career development and family life.
Secondly, the level of income of the target customers also has considerable impact on the marketing communications strategies to be developed. In my view, Best Lady Enterprises should target women in the working or middle-class and upper-class brackets who have substantial amount of income to spend on designer clothes. As King (2010) asserts, designer clothes are viewed as a luxury that can only be afforded by women with additional or extra cash. However, Best Lady Enterprises may also consider manufacturing affordable designer clothes for women in the lower-class in order to increase its customer base. Kotler (2010) and Solomon (2008) also assert that the income of consumers is an important factor is determining marketing strategies of an organization because it directly influences the buying ability of the consumers.
In relation to psychographics, I believe that personality and buying motives are the most important factors that the management of the organization should give greater consideration. This is because the personality of an individual directly influences his or her behaviors. For example, celebrity women are more likely to buy designed clothes whereas ordinary women are less likely to buy designer or customized clothes. This is because celebrity women have attention-seeking personalities, thus would prefer highly fashionable and well-designed clothes.
On the other hand, the buying motive of customers is important because it determines what customers buy and at what frequency. For example, women who require designed clothes for special occasions such as wedding and parties are motivated by the need to appear presentable, thus would buy more designed clothes during such occasions. As a result, Best Lady Enterprises should target such consumers in order to boost sales and increase customer base.
In my view, understanding the types of personalities and buying motives of the consumers would help the organization in identifying the various needs of the consumers. As a consequence, Best Lady Enterprises would be able to produce highly qualify designer women’s clothes that adequately meet and satisfy such needs. This would also result into increased satisfaction of customers; hence increase in customer base and customer loyalty. Barsky also asserts that satisfying customers through adequate focus, identification of needs of customers and striving to meet such needs is vital for any organization that wants to achieve high market share and increase the customer base.
I would conclude by asserting that I am confident that if the above mentioned demographic and psychographic factors are given adequate consideration during the development of market communications plan, the organization will be able to products that are customer focused, hence achieve greater market share and enlarged customer base. Through a comprehensive understanding of the discussed demographic and psychographic factors, Best Lady Enterprises would forge and convey useful information to the target consumers via appropriate marketing communications strategies, hence increase its market base.Custom Marketing Communications Plan Memo.