In this assignment for the subject of Communication and new technologies I will incorporate all the acquired information I learned during the classes. To introduce a new brand Raw Way, I will apply the action techniques, emotional systems, 4MAT principles, anchoring, and other approaches.
Action Model
Aim
The target audience for the product is men and women aged 1845 who care for their health, lead active lifestyles, and have professional sports careers.
Raw Way smoothies consist of 100% vegetables, fruits, and berries without the addition of sugar, preservatives, and dyes. Healthy eating is now the most obvious trend on the market; it has great growth potential.
Smoothies are a completely new level product for us. This is a fundamentally new product because it is natural and it is not just juice. When you use smoothies, you use vegetables, fruits, and berries in the same unchanged form in which they should come into peoples bodies.
Raw Way is not only a delicious product, but also helps consumers solve the problem of daily insufficient intake of dietary fiber. Thanks to cereals, one pack of our smoothies covers 1720% of an adults daily need for dietary fiber, which is confirmed by test protocols.
If your goal is to stay healthy, get all the nutrients at once, and feel like a champion every day, then the Raw Way is the right choice!
Connection
It is vital to choose a song that connects the main idea of our product and the customers motivation to buy it. Therefore, We Are the Champions by Queen is a perfect option because our goal is to make a person feel as healthy as a champion. It seems like the song emphasizes the major theme of our product being powerful and feeling inspired by leading an active lifestyle.
Techniques
The brand will utilize such slogans as Raw Way Championship as Your Lifestyle, Take a sip and win the life, or Raw Way is your way to success. These phrases reflect the target audiences interests and create a sense of self-confidence on the way to success (Moistner, 2021). The product comes in ten different tastes; the development of other tastes is possible if this line succeeds. The advertisement will demonstrate famous male and female athletes who have just won medals approaching the cafeteria and choosing Raw Way as an after-competition meal.
Identity
Highlighting the idea of the affordability of the product for different group of customers.
Opportunities
It is possible to promote healthy lifestyle and increase the likelihood of becoming a champion using Queens song and attracting famous athletes.
Numerous (Anchoring)
The usage of such words as champion, healthy, motivation, and tasty can contribute to customers satisfaction.
Emotional Systems
Emotional systems are expressed via call for action join us, and become a champion. These are used to encourage the audience try our product.
Negative Words
We do not claim to be the market leaders but we guarantee top-quality products usage.
Press Release (4MAT System)
(Why) Every day is a chance to be a champion for yourself first because it takes you closer to your goal.
(What) Raw Way is your way to success start smoothie program now and show your potential in any field of activity.
(How) How to become number one by taking small steps every day?
(What if) What if our top-quality vegetables, fruits, and berries mixed with still water is what paves your way to living healthily and experiencing championship in every sip.
Join us and become a number one!
For all other information, access our website www.rawway.com
Conclusion
In summation, the product will be attractive since it guarantees better well-being and an increased level of energy, helping to cope with daily tasks faster and achieve success. Involving celebrities in the ad and incorporating powerful and magnetic music is supposed to attract users and inspire them to lead a healthy lifestyle. The combination of high-quality products for smoothie making is another benefit the customer has yet to try.
Reference
Moistner, H. (2021). Marketing strategies and tips. Amazon Digital Services.
Contemporary marketing written by Boone and Kurtz provides us with key marketing principles. The book covers the most up-to date issues including one-to-one marketing, customer care, strategic marketing as well as guerilla marketing among other topics. The book begins by giving the reader a concise definition of the term marketing as well as a brief explanation of the situations in the current world market place.
The writer goes on to give the chronological account of the marketing disciple whereby he discusses different eras and their marketing myopia. The book gives a special attention to the characteristics of the current marketing. One of the aspects discussed in this book is how non-profit entities market themselves. In dealing with this aspect of marketing, the writer provides their audience with non convectional marketing ideas.
In other words, he tells us more on the marketing of individuals, causes, societies as well as events. The writer also assigns more attention to social and ethical obligations of the marketing. The author goes on to examine, the marketing needs and shortcomings as result of the modern technological and global economy. In the same vein, the writer explores the links between marketing and other areas such as environmental management. In the end the author does a thorough analysis of the marketing strategy of various organizations based on their strengths and their weaknesses.
How the article of choice relates to what we have covered in class
This book covers most of what we have discussed in the class. It relates to what we have explored in the class especially on how to come up with good marketing strategies that can lead to a success in the market place. The content of the book also relates to what we have examined in relation to integrated marketing solutions as well as advertising approaches. Another key aspect of the book that relates to what we have covered in class is how it discusses the marketing environment.
The book covers nearly all dimensions of marketing environment such competitive, social-cultural, technological and political. The introduction of the internet in the marketing hold a very key position in the marketing and the book tackles a number of significant issues such as security of on-line payments, privacy of internet businesses as well as violations of copyright laws which we have also covered in the class (Boone & Kurtz, 2010). The book also deals with the impacts of market research in the global market and its eventual targeting and segmentation in respect to product improvement, place, pricing and promotion of which we have also covered in the class.
Opinion
In my opinion the book sheds some light on crucial issues that are central to modern marketing including the up-and-coming of the global market as result of virtual, circulation, promotional, advertising and individual relations networks. This book is of special import to those who want to understand what they have learned in the class in relation to their future carriers in marketing. I agree with how the author has covered all tools of the marketing mix.
In this book, the author displays all the bases of marketing principles not forgetting the current trends and studies in the marketing. The message of the author is winning goods in the market arena are those that recognize their key strengths and capitalize on them to create a good relationship with their customers (Selden, 1997).
References
Boone, L., & Kurtz D. (2010). Contemporary Marketing. New York: South-Western College publishers.
Selden, P. (1997). Sales Process Engineering: A Personal Workshop. Milwaukee, WI: ASQ Quality Press, p. 23.
The American Marketing Association defines marketing as the process, institutions and activities that create, communicate, exchange offerings and deliver value to clients, partners, consumers or society in general. Additionally, the latter group believes that at the center of marketing is the need to satisfy individual or organizational goals. This means that marketing itself should be considered as an exchange of ideas through adequate planning and execution of pricing, promotion, creation and distributions of products or services. In this definition, it is essential to note that there are a number of components of marketing that will scarcely change with time and these include the need for products and services and their availability, the existence of a certain price for a certain product, the need to get those products or services to the client and the need to inform them about these offerings. These are the foundational aspects that make marketing what it is. (American Marketing Association, 2008).
On the other hand, the American heritage dictionary defines marketing in two ways. It is the summation of all the functions used in getting goods or services from the producer and the consumer. Secondly, the latter reference also defines marketing as the technique or the process of selling, promoting, distributing and selling a product or service. It should be noted that in this definition, marketing is seen as a combination of entities and not just a series of tactics. It is a holistic concept that forms the core of any business. (American Heritage Dictionary, 2000).
Importance of marketing in organizational success
As it can be seen these definitions reflect similar messages, therefore even if the words or phrases are different, the meaning of marketing as a concept is essentially the same. What has actually changed and will continue to do so is the business landscape. Now competition has grown to cut throat levels thus necessitating the need to adopt a series of strategies to survive. Sound marketing has always entailed identification of a strategy, development of that strategy and tactical implementation. This approach has worked in the past and continues to do so today.
Marketing is a crucial component in ensuring organizational success. This is because of several reasons. First of all, marketing tells the world or ones potential consumers that ones company exists and that it can provide the means with which to satisfy those consumers needs. In other words, it promotes a company, institution or any business entity. This means that marketing plays the role of informing the public about ones being. In line with this is the fact that it also tells them about the range of products and services offered by that corporation. Marketing ensures that individuals know what one does. The latter situation normally applies to those companies that are new in the market. However, for well known names, marketing can be useful in informing consumers about new service or product offerings. By doing all these, then a company may be well on their way to differentiating themselves from their competitors and thus making them truly successful.
Guinness is another example of how marketing can be useful in differentiating a company from its competitors. This was especially necessary after the Irish home market for Guinness had started slowing down. The company embarked on an ambitious program geared towards restoring the historic significance for Guinness amongst its Irish consumers. It achieved this by building a Guinness storehouse in a former brewing complex. The facility allowed consumers to view the history of Guinness while at the same time enjoy their drinks and interact with other veterans in the market. By doing this, the company set itself apart as a historic yet entertaining brand for both the old and young consumers.
Marketing also plays a crucial role in defining as well implementing ones corporate strategy. This means that it can therefore be possible for companies to align consumer needs with organizational goals and this is an important characteristic for any respectable company. Dev & Schultz, 2007).
An example of how marketing has revolutionized business is in proctor and gambles approach. In 2002, this companys sales had plummeted thus necessitating the need for a change in business strategy. It rarely made room for trying out new marketing approaches but such a significant loss prompted a reexamination of its former methods. In this regard, the company opted to create a forum that would allow it to listen to their consumers voices. This was possible through the internet which allowed clients to suggest products that P&G should make. This forum also provided a unique opportunity for the company to test new products in the market before stocking them up in supermarkets or other stores. The latter approach has produced substantial results for the company and has put it back in the map as a reputable and profitable organization. One can therefore assert that Proctor and Gamble were able to execute a strategy to make them more consumer friendly through marketing.
Through marketing, it is also possible for businesses to create and expand professional networks. This element is highly useful in the current business environment where monopolistic tendencies are reducing drastically and where competition has become the order of the day. In line with the latter assertion is the fact that marketing reflects industry trends and thus serves as an indicator of whether an organization is abreast with recent developments. (Dev & Schultz, 2007).
Conclusion
It can be said that no matter how effective or efficient a companys products are, that company cannot be worth its salt without marketing. This is the channel that creates profits for organizations.
References
American Heritage Dictionary. (2000). Definition of marketing. New York: Houghton Miffin Publishers
American Marketing Association. (2008). American Marketing Association to update its definition of marketing. 2009. Web.
Dev, C. & Schultz, D. (2007). A customer focused approach can bring ones marketing mix in the 21st century. Journal of marketing management, 14(1): 57.
Companies use critical and creative advertisements to influence the perception of the targeted clients through consistency in appeal to emotion, credibility, and logic. Primarily, the Hardees Restaurant has creatively used the element of sex appeal to advertising its Buffalo blue cheese burger through a renowned celebrity. Through the use of the television medium, the restaurant can pass the information in the commercial. The Hardees Restaurants ad, with Katherine Webb eating the blue cheeseburger, widely appeals to the targeted audience. It uses logic, credibility, and emotion to appeal to customers.
The ingredients of the Buffalo blue cheese burger promise different nutrients besides the fact that the fast food product is made by experts with the highest standards of hygiene. Also, the product has been approved safe for consumption by different health and customer care agencies. This advertisement suggests that the target group is easily swayed by what they see and follow recommendations from famous persons. The use of glittering celebrities such as Katherine Webb aims at influencing the involuntary urge in mind to identify with the burger advertisement since an average mind would easily be influenced by a personality, perceived to be perfect. This advertisement succeeds in curing the minds of the male population to easily associate the sexy image to the taste of the burger product.
The Buffalo blue burger product has been in the market for more than two decades, and the targeted clients already have full knowledge of its content and taste. Most of the targeted customers know the name and social status of the celebrity who appears in the burger commercial and would not be hesitant to buy the blue cheeseburger. The advertisement commercial shows a slim and youthful lady associated with the modern healthy lifestyle. The advertisement has utilized the youthful image of the famous model to build social and sports values that associate the product sexiness. This commercial is likely to succeed since everyone would wish to associate with perfection.
The main reason for using television as the advertising medium is to capture a vast range of audiences since the majority of the homesteads in the US own televisions. Hence, using television to advertise the Buffalo blue cheese product allows the restaurant to reach a wider consumer base since television conveys messages in both audio and visual form. The commercial is created in a sports facility with the loud joie de vivre from the stadium suggesting that there is a match in progress.
As a result, the Hardees Restaurant will increase its sales in the sports events market segment as more customers will embrace the idea of enjoying a blue cheese burger during sports events besides the fact the size of the Buffalo blue cheese burger is relatively bigger than most the other brands of the burger. This is well communicated in the commercial ad since Webb has to stretch her fingers to hold the burger.
This advertisement directly appeals to emotion, logic, and credibility. Through the use of the television medium, the restaurant can pass the information even to illiterate consumers. The endorsement from a renowned female celebrity appeals to male customers. The excessive focus on body appearance is expected to contribute to the high purchase of the blue cheese burger product. Thus, any average mind in the target market will be easily influenced by the attractive presentation of the Buffalo blue cheese product.
New technical inventions have always served as a driver of the economy and social change, including the relationship between producers and consumers. The last decades of the previous century are characterized by the emergence of many new technologies and, consequently, new communication tools and channels (Payne, Peltier, and Barger, 2017, p. 2). Businesspersons immediately began to apply new technologies in marketing to strengthen customer relationships, generate more profit, and expand their influence in the markets. It led to the emergence of omnichannel marketing and Integrated Marketing Communications (IMC). In just thirty years, these two marketing concepts have become crucial and essential elements of almost any business model, anywhere in the world. Experts note that the role of marketing communication cannot be neglected today, since it has become a compulsion for business survival (Desai and Shah, 2019, p. 2). Understanding the history of IMC development is essential for one to analyze, evaluate, and develop practical and effective IMC strategies, approaches, and concepts competently.
IMC before Internet
IMC was defined and conceptualized as a marketing strategy in the early 90s. It happened after Caywood, Schultz, and Wang (1991) published their first IMC article titled Integrated marketing communications: A survey of National Goods Advertisers (Ahmad and Mokhtar, 2019, p. 583). It began to be widely practiced by marketers only a few years later. According to Desai and Shah (2019, p. 3), the concept of Integrated Marketing Communication started being accepted widely as an idea and technique since the mid-1990s. IMC is ideologically originated from the concept of four traditional marketing areas, which are Advertising, Direct Marketing, Sales Promotions, and Public relations and the idea of one voice, one sight and one sound for a brand (Desai and Shah, 2019, p. 5). The subsequent emergence of cyberspace as a new method of public communication and online media channels has become a paradigm shift in the application of IMC.
IMC after Internet
Figure 1, A graph showing how much time people spend on TV and the Internet over the past decade (Desai and Shah, 2019, p. 6).
With online space available to everyone, it became possible for marketers to receive, analyze, and study customer preferences, responses, and feedback. Moreover, consumers can finally choose and filter information channels and express their opinion about certain brands directly and publicly (Desai and Shah, 2019, p. 5). As a result, the widely and easily accessible Internet has created two new marketing activities, namely digital marketing and personal selling. Digital marketing can be described as a process of promoting brands on the Internet space utilizing two-way interactive online communications (Key and Szaplewski, 2017, p. 5). According to Key and Czaplewski (2017, p. 5), personal selling is best used to convert preference and conviction into behavior and relies heavily on the other elements of the promotions mix. Gradually, the Internet and social media began to prevail over offline communication channels because the new online ones were more versatile, friendly, convenient, and less aggressive, and this change continues.
Todays Status of IMC
The changes brought by the Internet to the IMC did not affect its definition. Economists argue that it coordinates and manages the marketing communications and ensures consistent brand messages are used in every internal and external communication and promotes collaboration amongst all stakeholders (Zoeller, 2021, para. 14). However, ongoing social and marketing processes can change the conventional academic interpretation of the IMC.
Nowadays, marketers face a big challenge as significant innovations in mobile technology made in the 00s created another big wave of societal and economic changes we witness now. Desai and Shah (2019, p. 5) note that IMC is in a transition phase where the challenge is to integrate offline (traditional) channels with online (modern) channels. This complex integration process implies two levels, which are population, and international. It is no secret that different generations prefer different communication channels. Older people like traditional ones while teenagers and young adults often use new ones to communicate and buy products and services. Moreover, the type of prevailing communication channel type varies from country to country, depending on cultural and religious nuances and economic and technological development. Such a state of affairs in marketing provides many opportunities for creating new IMC activities and approaches.
IMCs Synchronization Function within Omni-Channel Marketing
IMC is crucial for the creation and maintenance of efficient synchronization in omnichannel marketing. When implemented, IMC ensures information consistency and interactivity across all communication channels (Payne, Peltier, and Barger, 2017, p. 5). It allows marketers to analyze consumer preferences and contacts, send and coordinate a unified message, and monitor its status through offline and online media. This is how IMC creates harmony and synergy in the marketing segment of the company, for which this particular strategy is very well known in the business environment.
The First Companies to Adopt the IMC Strategy and a New Generation of Businesses
Figure 2, Coca Cola logo (AngelicaAndMrithula, 2019, para. 1).
The pioneers in the practical application of IMC were large international corporations associated with the sale of beverages and information software and hardware. These companies are Coca-Cola and Datavail, Starbucks, and Rockwell Automation (Zoeller, 2021, para. 22). To be more specific, Coca-Cola uses IMC to portray its world-famous drinks as an integral and authentic element of peoples daily lives (AngelicaAndMrithula, 2019, para. 2). GoPro is one of the most notable examples of next-generation social media and mobile technology companies using IMC to promote their products (Zoeller, 2021, para. 22). It is impossible to run a flourishing enterprise of practically any type without the use of IMC.
Lancômes Performance in terms of IMC
Lancômes Advertising
Figure 3, Product advertisement for Generation Z customers (Bargh, 2019, para. 1).
It should be noted that the company that was selected to analyze her performance in terms of her communication tools is Lancôme. Lancôme is a global beauty brand and part of the LOréal Luxury Products division that focuses on selling cosmetics products to wealthy people (Feldman, 2021, para. 3). Before the international pandemic that affected every country, Lancôme often organized interactive physical events to advertise its products (Feldman, 2021, para. 3). These were some of the top priority offline communication channels for the company. However, terms changed, and Lancôme had to adapt to a new business environment under government restrictions.
As one probably noticed, COVID-19 has not diminished customer demand; it has even increased in some areas. Lancôme and many other brands quickly adapted their online advertising strategies to the virtual format (Feldman, 2021, para. 5). The combination of programmatic advertising, retargeting, prospecting and rich virtual emasculation has allowed the company to achieve significant positive results in promoting luxury cosmetics. Marketers have achieved high online visitor numbers and engagement rates and increased brand and product awareness (Feldman, 2021, p. 12). It was an excellent result for a company that had not hosted any virtual events before and used the new microsite unknown to established and new audiences as its central platform. This case shows that Lancôme marketers are well aware of their offline and online advertising opportunities and resources and use them expertly.
Lancômes Sales Promotion
Figure 4, Lancome point of sale (POS) display (The OMD Group, 2018, para. 4).
Lancôme mainly adheres to traditional methods of offline sales promotion, unlike in advertising. These include POS displays with unique designs and periodic free gift promotions. The former is a very cost-effective tactic for sales promotion as they are cheap, reusable, and ideally attract the attention of many consumers because they serve as a means of advertising multiple products of a single brand (The OMD Group, 2018, para. 4). Free gift promotion is the small price that companies pay to satisfy the desires of established customers and attract new ones(The OMD Group, 2018, para. 5). The consequence of applying these ICM approaches to traditional communication channels, in this case, is increased product sales (The OMD Group, 2018, para. 4). Therefore, Lancômes performance in this area of marketing can also be considered efficient.
Lancômes Direct Marketing
Figure 5, Lancôme retail store (Agon, 2019, para. 2).
LOréals direct marketing analysis showed that the corporation and all its brands pay special attention to direct communication with customers, both in physical and online space, and Lancôme is no exception. Lancôme, like any other LOréal brand, provides consumers with a large number of exceptional online services and products. Lancômes e-commerce is one of the most personalized and custom-oriented in the beauty industry. Retail stores are also following this trend of personalizing the producer-consumer relationship. According to Agon (2019, para. 2), inside, Lancôme offers consumers a host of bespoke services and tailor-made consultations. Digital and offline services include online skin tests, and individualized, detailed instructions for cosmetic products (Agon, 2019, para. 1). Lancome even produces custom foundations following the customers requirements (Agon, 2019, para. 2). It is safe to say that Lancômes marketers are very good at direct marketing communication tools. They are also well aware of trends in the beauty industry and global market patterns common to all markets and timely implement innovative marketing models.
Lancômes Publicity
Figure 6, Lancômes twit (Lancôme USA, 2009, para. 1).
Lancômes public relations are also at a very high level, and her media impact is one of the most powerful in the online space. Cohen (2020, para. 1) notes that the company has managed to stay consistently successful and month-on-month come out as one of the top beauty brands & in comparison to its competitors . The secret to such PR success lies in two strategies, namely collaborating with social media influencers and focusing on communicating with the public.
The brand constantly collaborates with famous people, especially young people. When choosing an influencer, the company pays attention to the number of followers a person has and their media background and personal qualities (Cohen, 2020, para. 3). Moreover, Lancômes marketers focus on those social platforms with the liveliest interactions, namely Twitter (Cohen, 2020, para. 5). One of the biggest actors in the beauty industry communicates with his followers through product shots and short videos with inspiring phrases, quotes, or questions in the caption (Cohen, 2020, para. 5). The fact that Lancôme has successfully entered the online space and is constantly becoming a trending brand shows the PR departments high productivity and well-developed professional skills.
Lancômes Personal Selling
Figure 7, Lancôme employee (Agon, 2019, para. 1).
As noted above, Lancôme is a luxury brand, which means that personal selling is the top priority communication channel for their marketers. Previously in this work, it was mentioned that the companys employees offer customers and newcomers many services both online and in retail stores. Lancôme workers do almost everything to ensure that their cosmetic products are suitable for consumers and serve them well. When interacting with customers, they act as salespeople, guides, advisors, and servants at the same time (Agon, 2019, para. 2). They also offer several types of treatments like a spa to make consumers feel as good as possible at Lancôme. As one can see, the company takes a comprehensive approach to personal selling, and the overall performance of this communicational channel is high.
Hong Kong Beauty Market IMC Plan for Lancôme
SOSTAC Model
One should base their IMC plan on a well-developed theoretical framework based on substantial scientific evidence for it to be practical and effective. One such planning guide is the SOSTAC model, which consists of six elements. Each of them will be analyzed here in relation to Lancôme. The target audience section has been added as it is also crucial for successfully implementing the IMC plan.
Target Audience
Figure 8, Lancômes Demographics (Lancôme, no date, para. 1).Figure 9, Zendaya Coleman for Lancôme (Bargh, 2019, para. 1).
Before drawing up an IMC plan for the Hong Kong beauty market, one must first determine the target audience. The potential target audience for Lancôme in Hong Kong is similar to that in other countries. They are wealthy people over 25-30 years old, primarily women (Lancôme, no date, para. 1). It is important to note that Lancôme started a widespread advertising campaign among the younger generation a couple of years ago with Zendaya Coleman as the brand ambassador (Bargh, 2019, para. 2). Therefore, Hong Kong youth should also be considered the target audience for Lancôme beauty products. Marketers should also expect an increase in demand for skin care products from the male population. According to Smith (2020, para. 10), thanks to K-pop, a genre of Korean pop music, flawless skin natural or corrected by cosmetics has become non-gender-specific. Presumably, these socioeconomic trends will continue for at least another decade, which means more profits for the beauty industry and more intense competition.
Situational Analysis
Figure 10, Hong Kong cosmetics market by country (Cosmetics and toiletries, 2021, para. 1).
As mentioned above, Lancôme is one of the leading luxury brands of skincare and beauty products globally. In addition, the company and its owner already have a branch office in Hong Kong. Simply put, the intervention in the foreign market has already taken place successfully. What the company needs is an expansion in terms of publicity and market relations. The organization has significant experience in building positive public relations and an excellent understanding of old and new information channels and the nuances of operating them. Lancômes marketers have also previously collaborated with Chinese social media influencers, which means they know the social and cultural nuances of interacting with famous people in the region (Cohen, 2020, para. 6). However, one of the companys internal weaknesses is its focus only on wealthy customers, which could negatively affect potential sales due to the economic downturn in Hong Kong caused by the global pandemic and local lockdown policies.
Hong Kongs beauty market is unusual from a socioeconomic perspective. Hong Kong is among the richest regions globally; incomes and financial opportunities of citizens are also high there (Tognini. 2020, para. 6). However, the vast majority of beauty products here are middle-priced (Poon, 2020, para. 1). Such an environment enables Lancôme to stand out by offering higher quality world-class products effectively. In addition, France has about one-fifth of the beauty products market in Hong Kong, which means that LOréal can provide more resources for expansion, advertising, and promotion (Cosmetics and toiletries, 2021, para. 1). There are many foreign players in the citys beauty industry, which means tough competition for the company (Cosmetics and toiletries, 2021, para. 1). The slight economic downturn mentioned earlier could scare some established customers and potential consumers away from luxury products. Overall, the Hong Kong beauty market seems very profitable for Lancôme, and further expansion is advised.
Communication Objectives
Figure 11, Chinese social media giants (Wade, 2017, para. 3).
The Hong Kong beauty industry setting makes it possible to define several communication goals clearly. The first is to attract more publicity; all segments of the new target audience should be aware that unique and high-quality beauty products have entered the market. Another one is increasing customer engagement through international and local Chinese social media and websites. The third and final communication objective is to become one of the top actors in the beauty market in Hong Kong. It is expected that the developed measures will allow Lancôme to achieve the same positions that it has in Europe and the United States. Becoming a market leader is also a desirable result, especially given that the environment potentially allows it (Poon, 2020, para. 1). In any case, a highly successful outcome for Lancôme is expected.
Marketing Communication Strategy
Figure 12, Hong Kong (Tognini, 2020, para. 2).
The global pandemic has not yet passed, as the restrictive state policies in many regions and cities of the planet and Hong Kong is no exception. Therefore, it would be appropriate to use those strategies that have already proven their effectiveness. One of those, which recently, namely in April, was applied by Lancôme, is a programmatic strategy (Feldman, 2021, para. 6). It is no secret that people in developed Asian countries are even more integrated with social media than people from the Western Hemisphere. The vibrant and luxurious digital performance will catch the attention of many new customers. The positive impact would be even more substantial if you collaborate with local social media influencers associated with fashion, cosmetics, and skin routines. The influencer marketing strategy would be another helpful tool in the case of Hong Kong. The combination of these approaches would provide a powerful advertising and promotional campaign for the brand.
Tactics and Actions
Figure 13, Sina Weibo logo (Wade, 2017, para. 3).
The arsenal of tactics is also limited by the current COVID-19 pandemic and related policy measures. The first step will be to create brand accounts on major social networks in China and Hong Kong. The preference should be for a social media resource that involves intense interaction between users. The most appropriate option in such a case would be Sina Weibo, with which Lancôme already collaborated in the past (Cohen, 2020, para. 6). The company should use the same methods of communicating with followers and consumers as on Twitter. New ways of interaction that are more common and familiar to the Chinese and Hong Kong populations should also be adopted if they produce a positive media impact for Lancôme. Broad advertising of Lancômes products on TV is also advised.
The organization should also use the methods of traditional physical advertising that are already familiar to it, such as the use of POS displays and free promotion of cosmetic products. They directly increase product sales, so their implementation is crucial for the successful advertising campaign and IMC development. The issue of price is also should be emphasized when discussing the details of IMC. Up to $ 100,000,000 would be enough for the entire project. Experts note that they spent under $100 million on advertising in digital, print, and national TV in the last year (Lancôme Paris advertiser profile, no date, para. 1). However, one should expect that the Hong Kong setting might require slightly larger sums of money.
Evaluation and Control
Figure 14, some properties of Customer Relationship Management (CRM) tools (CRM org, 2019)
The IMCs proposed plan is a long-term project with significant investment. Events of this scale require monitoring and evaluation tools from the organizers. Key Performance Indicators (KPI) would be the best set of measurements for assessing the effectiveness and productivity of the implemented plan in this case (Twin, 2021, para. 1). KPIs were chosen as measurements because they make it possible for one to track and evaluate each process within the project at all levels of the organizational hierarchy. Another question is how often and by what means one should obtain, analyze and interpret all the necessary data. CRM software is a standard tool for completing such tasks in every business model in almost every part of the world (CRM org, 2019). Moreover, many of the CRM processes responsible for these functions are automated, allowing one to receive the necessary reports every day.
Desai, A. and Shah, J. (2019) Integrated marketing communication then and today A challenge or an opportunity?, Journal of Marketing Vistas, 9(1). Web.
A quick response (QR) code is a type of a two-dimensional barcode that relies on a visual representation of data. While the core concept is not new, the effectiveness of its current iteration combined with the mass adoption of mobile devices with web connectivity raised the usability of the technology to an unprecedented level. Currently, QR codes are actively used for a wide variety of marketing applications. The following paper outlines the potential of the technology for marketing using physical media with a focus on digital tracking of physical marketing.
Analysis
A QR code is a two-dimensional barcode, usually in a rectangular shape that contains data encrypted in a visual format. The code can be decrypted using an optical scanner capable of converting the data into plain text. The reliability and simplicity of the practice have contributed to its seamless adoption by consumers. Currently, an overwhelming majority of the phones on the market are equipped with hardware sufficient for QR code recognition, and the software for both encryption and decryption of codes is freely available and accessible (Cata et al. 2). The most important aspect of the technology is the possibility of a seamless transition between physical and digital media. As a result, the feature was capitalized in numerous marketing campaigns (Ryu and Murdock 111). Most commonly, QR codes were added to posters, business cards, brochures, product tags and manuals, and surfaces such as trailer sides. Due to the reliability and error correction capacity, it is also possible to present code in a creative way, such as in the form of a fragmented image, which is recognizable both by a human eye and a scanner, adding value to the presentation. Finally, the online connectivity of a device used for scanning (e.g. a smartphone) allows for a significant increase in the interactivity of the media by adding links to audio and video messages.
However, one of the most potentially disruptive applications of technology is the ability to gather data on the effectiveness of physical media. In some cases, it is possible to create a code that would register scanning instances and log them onto a dedicated platform. The approach has contributed to the success of several major marketing campaigns by Verizon (MMA). This result can be achieved in three ways. First, it is possible to use publicly available services such as myqr.co and goo.gl. The shortened links generated by these services track access instances and log basic consumer behavior information, such as the location of the individual using the scanner. The solution is inexpensive, allowing for a 200% increase in sales in some cases (Research Now SSI). However, this option provides only the essential information that may be insufficient for business-scale metrics. The second option is to utilize GPS-based tracking for collecting data. Specifically, it is possible to associate GPS data with barcode scan results. While eliminating the reliance on a third party, this method requires the use of proprietary scanning software and is thus only marginally suitable for marketing purposes. Finally, it is possible to use a proprietary system capable of tracking and processing data. The advantages of the approach include flexibility of code adjustment, seamless access to and conversion of metrics data, and customization of reports for different marketing purposes. Currently, the latter can be considered the most feasible option for digitizing metrics pertinent to printable media.
Conclusion
As can be seen, QR codes contain sufficient potential for digitizing marketing metrics of physical media. In addition to enhanced accessibility, ease of use, and capacity for creative presentation, the possibility to obtain details of a QR code use provides marketers with better control over the process allows introducing adjustments and tweaks to the campaign. Finally, it streamlines the analytical marketing capabilities and, as a result, offers relevant data in a timely manner. Therefore, it is reasonable to include QR codes into the companys future marketing strategies.
Works Cited
Cata, Teuta, et al. QR Code: A New Opportunity for Effective Mobile Marketing. Journal of Mobile Technologies, Knowledge and Society, vol. 2013, 2013, pp. 1-7.
MMA. Verizon Wireless Sees Over 150,000 Scans of ScanLife QR Codes. MMA, 2010. Web.
Research Now SSI. How QR Codes Helped Verizons Sales Increase 200 Percent. Research Now SSI, 2013. Web.
Ryu, Jay Sang, and Kenneth Murdock. Consumer Acceptance of Mobile Marketing Communications Using the QR Code. Journal of Direct, Data and Digital Marketing Practice, vol. 15, no. 2, 2013, pp. 111-124.
At the moment described in the case study, Playboy has certain pros and cons within the market. On the one side, the distribution of the adult magazine has grown wider due to publications sold in European and Asian countries. This practice has guaranteed high revenues for the firm and the broader market. On the other hand, there is an issue with the subscription program of the magazines, which is relatively lower than sales in the stands.
The three underlying problems with Playboy are legal issues, the specificity of its target market, and its product marketing. Namely, some conservative groups might easily interfere and influence the sales of the magazines and therefore threaten the stability of the firms profits. Next, the limited market of Playboy is traditionally male, which has made it difficult to broaden the sales to other customers. Finally, product marketing returns a relatively small number of revenues compared to the broad range of Playboy products. Yet, the firms advantages are its special services such as catalogs and calls for additional information. As a result, some services provide stable returns to the company, while other programs cannot fully succeed due to the peculiarities of the market and its social state.
It is probably that most feminist groups would not support the development of the magazine. The reason for this is the object-like nature of the depicted women on the pages. However, some modern feminists might find it not so offensive but rather empowering. For example, the success of OnlyFans and its support by feminists is notable. Thus, Playboy might have a chance with correct marketing.
Changing the name of the company would be an impractical strategy for the most part. First of all, the rebranding would cost a significant amount of money due to the multiplicity of Playboys products with the existing name. Second, the name serves as an intangible asset that makes an impression on many customers and assures their loyalty to the company. Hence, it would be better to start producing subsidiary products with another name but leave the existing ones with the Playboy title.
Businesses need to spread the word about the services or goods offered so they attract potential customers. This process entails the use of marketing and advertising. Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large (Burrows Lecture 2, slide 2). All these efforts to attract the attention of people relate to how the product or service is advertised.
Advertising is said to play the role of creating (or changing) consumers perception of a brand so, in effect, the consumer decides to buy that brand. It needs to have a strong impact so that the consumer easily remembers it when he or she is about to shop, so such impression influences purchase decisions. The impact should trigger an emotional response from the consumer because such emotion can help the individual retain the brand in his or her thoughts.
For example, hearing a catchy jingle of a product can make a viewer amused and if the lyrics are repetitive, it can be easily learned and the viewer can sing along. The amusement of the song is what can grab the attention of the viewer (Burrows Lecture 2, slide 38). However, advertisers should not stop at capturing the attention of viewers. It should have enough power to influence them into buying what is being advertised (Burrows Lecture 2, slide 43).
This entails much creativity to truly engage potential customers and influence their purchase decisions. As learned from the lectures, emotional, aesthetic and sensory aspects, beyond functional aspects, are an important point of departure for the supreme sensory experience in contemporary marketing practice (Burrows Lecture 1, slide 17). This shows the relationship between creativity in marketing and advertising with the emotional component of the consumer, as well as how he or she appreciates the advertisements aesthetics with his or her senses. Thus, it implies that engagement of the sensory faculties of the consumer needs to be encouraged. This is also known as sensory marketing.
What is Creativity and How Does it Figure in Marketing?
With the current globalization trends, creativity is fast becoming in demand, and people who manifest creative skills and traits usually advance further than their non-creative peers. Creativity is a well-studied concept and several definitions have been developed for it. One is about creative people who have abilities such as seeing things in fresh ways; learning from past experience and relating this to new situations; thinking along unorthodox lines and breaking barriers; using non-traditional approaches to solving problems; going further than the information given; and creating something unique and original (May 2007, pp. 101-102).
Such abilities are necessary for the field of marketing and advertising. As previously discussed, creative strategies are significant in triggering emotional responses in consumers so they pay attention to the advertisement, allowing them to engage their senses and eventually to remember what the advertisement and the message it conveyed. Finally, it should behave the capability to influence their purchase decisions.
Sensory Marketing and Cadbury Chocolates
Almost everyone enjoys sweets, especially rich, brown, creamy chocolates. Cadbury is a premiere chocolate brand that has enamored millions through the decades it has produced well-loved chocolate bars with a variety of mixes. Marketing this brand has entailed much effort and creativity, and one effective strategy used was sensory marketing.
Multi-sensory brand experience supports the marketing efforts of companies when consumers purchase and consume their products through the involvement of the five senses to generate value, experiences, and image (Hulten 2010). When Cadbury customers get hold of a bar of chocolate, they engage their sense of sight, attracted to the shiny purple foil wrapping and a picture of the sumptuous-looking confection inside.
Upon opening the wrapper, they get a whiff of the chocolate and its accompanying ingredients. The texture is smooth and creamy, and at times, mixed with other textures of nuts, fruits, jellies, etc. Once they take a bite, the taste of the chocolate can satisfy them, hence the tagline Obey your mouth , a campaign launched by Cadbury to market their products (Foodbev Media 2016) (See Appendix 1). In this multi-sensory experience of consuming a Cadbury chocolate bar, only the sense of hearing was not included. However, jingles that provide catchy tunes to market the product can actually be effective in influencing one to purchase a bar.
Sensory marketing involves arousing the senses and engages them in order to evoke an emotion associated with some experiences (Groeppel-Klein 2005). Presenting a stimulus that provides a multi-sensory brand experience is likely to generate a spectrum of feelings, memories, thoughts, opinions, etc. associated with the product or service being advertised. Marketers should utilize this opportunity to steer consumers into a purchase decision favoring their products.
Danzinger (2004) explains that consumers derive sensorial stimulation from the design of products, packaging, and advertising, and logos should resonate on an emotional level. Colour sends strong emotional clues, so marketers need to use color effectively in packaging, as well as in the color palette of the product (p. 286). As for Cadbury, the color purple has been ascribed for its signature wrapping, which is associated with royalty, mysticism, and mystery (Smith 2012).
Aside from the use of colors and graphics to attract shoppers, various materials, textures, and styles to arouse multiple senses can be incorporated to heighten the experience of enjoying the product. The sense of smell is a fast track to the human brain is a part that controls ones emotion and memory, which are crucial factors in deciding which brand to choose over another (Khan 2016). Scents can bring back individuals to a time in the past, such as the smells they remember from childhood or some seasons enjoyed in their youth. Cadbury chocolates have a faint but pleasant smell, mostly from the exciting ingredients in the chocolate such as fruits and nuts.
Incorporating Creativity in the Sensory Marketing of Cadbury Chocolates
Cadbury chocolates cater mostly to children who derive much satisfaction from not only eating it but also in engaging their various senses in the experience. Marketing products to children can be challenging, however, targeting these influential consumers can offer several opportunities (Götze et al. 2009). These customers, upon deriving pleasant multi-sensory experiences in the consumption of chocolates, can continue to patronize the products way up to their adulthood (Moore 2004). Hence, in beginning them early in life in the consumption of products, it is more likely that they become loyal to the brand for sentimental reasons.
Because young children are impressionable, it can be very easy to attract their attention to certain advertisements especially if it has captured their interest. Advertisers usually exploit this naivete of children and target them as the main spokespersons to their parents to purchase the products advertised. Although children have no purchasing power, they play a significant role in influencing their parents, who have the power to buy whatever is deemed necessary. As wise consumers, parents need to consider a variety of factors before giving in to their childrens wishes. Advertisers may wittingly or unwittingly insert multiple messages within their advertisements that may affect children in unexpected ways.
As an added marketing value, attracting the attention of children with interesting packaging can boost sales. To further pique their interest, packaging that can be turned into a toy or a game can make consumers focus on the package aside from the goodness of Cadbury Chocolate. One example is printing a board game inside the cardboard box and having some paper-folding activity to craft the dice and tokens to play with. A popular board game that can be printed inside is Snakes and Ladders (See Appendix 2).
The addition of the game as a tactile experience will further enhance the sensorial experience of enjoying a Cadbury bar.
Marketing Survey
The researcher wanted to find out if the ideas incorporating creativity and multi-sensory experiences in marketing Cadbury chocolates would click with its target consumers. A survey was conducted with 100 participants aged 8-35 years using a questionnaire drafted by the researcher (see Appendix 3). The results revealed that all of the participants wanted to get a free item with the chocolates and the majority thought that a game board of Snakes and Ladders would be a good idea. The majority of the participants also preferred more than one variant of chocolate within a package. Most looked forward to more creative concepts and packaging in Cadbury chocolates. They were also asked which 4 variants they wanted in the package. The majority wanted the following combination:
Cadbury Dairy Milk Chocolate Block.
Cadbury Dairy Milk Fruit & Nut Block.
Cadbury Dairy Milk Crunchie Block.
Cadbury Dairy Milk Pretzel and Peanut Block.
Hence it is proposed that these variants be included in the new packaging of Cadbury chocolates, with the box having a game of Snakes and Ladders printed inside. Once the chocolates are consumed, the box can be turned into a game board, with the dice and chips assembled from the flaps of the box. This way, the consumers enjoy a multi-sensory experience engaging all their senses in eating the chocolates and playing with the game. Adults can reminisce about their favorite childhood play activities, and it can include playing Snakes and Ladders. All these aim to make consumers have a more pleasant and memorable experience in their consumption of Cadbury chocolates.
References
Burrows, SA. 2016, Creativity in Marketing, Lectures 1 & 2, Fall Term, University of Bradford.
Danzinger P. 2004, Why people buy things they dont need, Chicago, Dearborn.
Foodbev Media. 2016, Obey your mouth. Web.
Götze E, Prange C & Uhrovska, I 2009, Childrens impact on innovative decision making: A diary study, European Journal of Marketing, vol. 43, no. 1(2), pp. 264295.
Groeppel-Klein, A 2005, Arousal and consumer in-store behavior. Web.
Hulten, B 2010, Sensory marketing: the multi-sensory brand-experience concept, European Business Review, vol. 23, no. 3, pp. 256-273.
The Accor hotel is one of the leading hotels located in France and a major hotel in Europe. It also happens to be one of the third largest hotels in the world. Over the years, the hotel has been forced to align its core competencies so that it can keep pace with the global changes taking place all over the world and the objective of providing key value and service in the hospitality industry (Accor, 2015). In effect, the Accor is considered one of the European leading hotels in the provision of services in the tourism and hospitality industry. It is also a global service provider for corporate service. Consequently, Accor has hired an approximate 150,000 employees all over the world in the countries that it operates, while offering its clients 45 years of expertise in the delivery service industry.
The activities of the hotel include operations in about 25 complimentary brands, ranging from budget to luxury. Among the brands that Accor operates in the United Kingdoms upscale market is Sofitel, while the mid-scale brands are Novotel and Mercure. Its budget brands in the same region are Etap, Motel 6, and Formula 1. In the United States, the Accor hotel operates two budget brands; namely, Motel 6 and Red Roof Inns (Accor, 2015). The Pullman brand and the All Seasons brand are the other products offered by Accor as an effort to remain sustainable. The two products perform exemplary. For instance, there were about ten thousand rooms operated under the brand in the form of franchises as of 2010. Nevertheless, the remaining brands still match the corporate strategy of the hotel and are always innovative.
Marketing Considerations
Marketing considerations in the Accor hotel are guided by a host of factors. Branding and marketing are normally targeted at a range of customer segments in the hospitality industry. For instance, many companies started launching novel brands in 2009, with most international hotels opening up new brands targeting the Generation X consumers, while still struggling to remain acceptable to people of older generations (Accor, 2009). In the same year, Accor developed a marketing strategy that would reposition most of its brands. One of the ways that the company repositioned was through reinventing its strategies, developing new products, and developing new campaigns, among others. In effect, the marketing team was able to make these brands more successful, both locally and internationally.
Among some of the ways that the marketing team has been able to strategize is through attaining value in branding. Branding is a critical aspect of the hotel, as branding is done so that the hotel can increase its visibility and maximize its benefits in the industry. Through branding, the team can develop strategic branding guidelines applicable to every brand. This way, each product operates using specific standards regarding signage and collateral (Accor, 2009).
Another area that the company seeks to maximize the value of the brand and promote its visibility is through annual marketing campaigns. The corporate sectors of the Accor hotels are tasked with the responsibility of creating some functional campaigns throughout the year. This way, the campaign can drive the goals of the business, as well as create potential networks in the industry to help elevate its position. Notably, most of the campaigns that the company undertakes tend to be successful due to the high integration and effectiveness committed to them. Ideally, the campaigners collaborate with the strategic partners of the business through advertising, online activities, direct marketing, and carrying out national promotions to realize the maximum effects.
The third marketing aspect that the hotels consider is that of sponsorships. The Accor hotels are considered an industry leader in the sponsorship arena. Notably, the hotel boasts of a high profile portfolio in sponsorships, which are also good ways to support its brand. Among the areas that the portfolio operates is that of tourism, sports, and arts.
Financial Considerations
Financially, the Accor hotels are considered the largest operating hotel in Europe, with about 705 of the company sales coming from Europe. Notably, the highest revenues for the company come from the European region, followed by North America, Asia-Pacific, Latin America, and Africa and the Middle East. It is notable the company has chosen to increase its luxury brands to improve through constant branding, owing to the large revenue streams that the luxury brands bring.
Both the upscale and mid-range brands tend to generate a lot of revenue for the hotels. The company assets amount to about 6 billion dollars, and they comprise assets like land, buildings, fixtures, equipment, and furniture and constructions in progress. The large asset base of the hotel makes the management oversee both company-owned assets and the hotels under the lease. In effect, the management operates about 2,700 hotels through both owned and leased property management.
All these ranges of hotels for the business are hard to establish. Thus, most of the hotels attain their funding through the issue of commercial paper and funding from financial institutions in France. They also tend to get their funding both in both France and other international markets because Accor carries out global operations. Operating as a global company implies that the hotels are exposed to a high risk of economic changes, particularly changes in currencies. In effect, one of the ways that the company minimizes such shocks is through financing the assets and operating using the local currency of the country in which they are located.
This way, the hotels can exercise hedging and avoid the risk that comes with currency fluctuations. The hotel is looking to open about 609 new hotels and 104,000 rooms to boost its financial standing. Much of this expansion is to be done through franchises and operating management contracts, which account for 78% of the total expansion. Further, 48% of the companys development is aimed at the Asia-Pacific region, with the company seeking to open about 100 new hotels in China and 20 in Indonesia. The company acquired 6,100 rooms in the Australia hotel as part of the acquisition process. Further, there are plans to open about 23 hotels in the Middle East.
There are key fiscal considerations that the company is taking to ensure high profits and limited cash outflows. These steps will ensure that the company reduces volatility in cash flows and minimize capital needs. In effect, some of the strategies the company applied between 2010 and 2012 included disposing of about 450 non-profitable hotels, reducing the companys adjusted debt balance by 1.2 billion in between 2011 and 2012, and analyzing the performance of more hotels in 2012 and 2013 to help the company dispose of 175 more hotels.
Technical Considerations
Accor hotel seriously considers the digital transformation that has taken place all over the world. In effect, the company, in October 2014, announced that it would be undertaking digital transformations with the aim of consolidating leadership and offering a solid guest experience. In effect, Accor rolled out a 225 million Euros investment plan that would finance the initiative. This digital change was meant to foresee a response to the challenges emanating in the industry due to the digitization of everything (Accor, 2014a). Thus, Accors digital platform is centered on the customers, its partners, and the employees.
First, the company has developed an integrated plan that seeks to maximize guest benefits as a commitment to understating guests better. The right programs concerned with the provision of utmost guest service delivery and creating a good experience are the mobile-first, the customer-centric database, and a seamless journey for easy payment solutions. There is also the mice and B to B, an online booking service, an employee-friendly database to ensure easy check-in of guests, and the owner franchise center that will offer revenue and pricing solutions to the hotel partners (Accor, 2014a).
To ensure the functionality of the digital platforms implanted by the company, the company also seeks to consolidate the platform and its systems by making their performance agile. In effect, some IT programs will be implemented to facilitate the process. These include the infrastructure transformation program to ensure system maximization and business analytics and intelligence to ensure that operational decisions utilize hotel volumes.
Economic Impact
There is a need to have strategies that will help Accor remain safe from changing economic factors that could affect its profitability. Therefore, the global operations nature of the hotel makes it strive to ensure that it has various strategies and considerations to minimize the effects of possible economic problems. One of the things that the hotel does is to operate in the local currency of the country in which it is based. This way, Accor can shield its operations from the fluctuating currencies, as well as practice hedging.
The second consideration of the hotels is the creation of an economic cushioning that can protect the chain of hotels, even amidst tough economic crises. In effect, the hotel has made significant changes since the 2008 economic crisis (Accor, 2014b). While the group of hotels strived to maintain its strategic course, it also showed that it was able to respond and adapt to economic changes. Throughout the beginning of the year 2009, the hotel committed to adjusting to the economic order, reconfiguration of their organizational processes, carrying out cost reduction plans to minimize the effects of the crisis and developing innovative sales and marketing strategies. All this was to cushion a decline in sales and prepare the company for a rebound if a recovery happened.
Overall, Accor hotels have put commendable financial, marketing, technological, and economic strategies to spur growth and expansion. The strategies also ensure that the hotel is protected from any shocks occurring in these areas. Thus, Accor is considered the financial leader in the industry and a major sponsor in the marketing sector. The hotel is also economically ready to tackle economic problems, in addition to being technologically savvy because it keeps abreast of digital requirements in service delivery.
References
Accor (2009). Accor 2009 Annual Report. Web.
Accor (2014a). Accor launches new frontiers in hospitality. Web.
Accor (2014b). Enhancing your hotel experience 2014 Registration Document and Annual financial report. Web.
Managers need vital information before introducing new products and services into the market. Such new products are those that create value for the consumers. As a result, it is important for companies to carry out marketing research before introducing a new product. The aim of this research is to obtain the desired facts and data that are required to make essential marketing decisions. However, for managers to get the best results during the research, they need to understand the process and its probable constraints. According to Aaker et al. (2012), marketing research is a process that creates a link between the various stakeholders in the market. To this end, it connects the manufacturers, customers, and end-users to the new product that is to be marketed. The connection is made through the information used to determine the marketing prospects and limitations of the target goods and services.
In this paper, the author will focus on the importance of marketing research on the success of a brand new product. To this end, the author will focus on the marketing research that involves the 7Ps. Relevant examples will be provided where applicable. The examples will be cited to support the findings. In addition, the paper will discuss the key principles and characteristics of marketing research. The objective of this analysis is to provide an overview of the steps that should be taken to ensure the success of the marketing study and the new product.
Marketing Research and the Success of a Brand New Product
An Overview
Marketing research is considered as the systematic collection, documentation, and evaluation of quantitative and qualitative data related to the promotion of new goods and services. The products can be brand new or an upgrade of an existing commodity. Kotler and Armstrong (2011) are of the opinion that the primary aim of marketing is to determine and analyse the constant changes associated with marketing elements. The process also highlights the effects of these changes on consumers and buying trends.
For decades, most people and managers have been using the terms marketing and market research interchangeably (Bradley 2010). However, the two phrases are different. For example, marketing research focuses specifically on the concept of promotion (Cravens & Piercy, 2012). In addition, the study is classified into two parts. The segments entail consumer and business to business (B2B) marketing research.
Characteristics of Marketing Research
For managers to understand the significance of marketing research, it is important for them to recognise the key characteristics of the process. The primary features are systematic and objective. According to Burns and Bush (2013), systematic planning is crucial to all the stages of marketing research. All procedures carried out at each phase should be well planned and recorded. To get the desired results, the team carrying out the marketing research should adopt scientific approaches in the process of data collection and evaluation. Findings from numerous studies reveal that conducting research by using multiple and competing hypotheses provides managers with the best results.
Marketing research needs to be objective to ensure the success of the brand new product. According to Boone and Kurtz (2012), the study aims at providing managers and marketers with precise information that reflects how the brand new product will perform in the market. To get the desired and accurate results, the research should be carried out in an impartial manner. In addition, the entire process should be free of any bias from the marketing team and the managers. The reason is that any study that is biased may lead to the collection of predisposed data. As a result, the new product may fail to perform as expected in the market. Marketers should also be objective when collecting information. Objective data provides companies with a comprehensive view of the marketing process (Bradley 2010).
Techniques used in Marketing Research
There are a number of strategies adopted to carry out marketing research. To ensure the success of a new product, managers should evaluate the techniques that would lead to the generation of the desired and accurate results. Some of the methods include Ad Tracking, advertising research, and buyer decision-making process. Others are brand awareness, association, attribute, and name testing (Aaker et al. 2012).
Ad Tracking is a technique that is used to monitor the expected performance of the product. The evaluation is based on brand awareness and preference (Clow & James, 2013). On the other hand, advertising research is used to predict the effectiveness of advertisement strategies used to publicise the brand new product. The efficiency is measured by the ability of the advertisements to build a strong brand name and motivate customers to buy the new product. As a marketing study technique, brand awareness and association entails the evaluation of the degree to which consumers may recall and identify with the name of the new product. The process of buyer decision making entails the assessment of what motivates consumers to buy certain products (Pride & Ferrell 2011).
Other marketing research techniques, which can be used to determine the success of a brand new product, are commercial eye-tracking, concept testing, coolhunting, and copy testing. Others are strategic internet intelligence, demand estimation, and segmentation research. As a marketing technique, commercial eye-tracking involves the evaluation of the advertisements used to market products and the visual behaviour of customers. Concept testing evaluates the probable acceptance of the brand new product by the target consumers (Malhotra 2011). On its part, copy testing assesses the performance of an advertisement before it is aired. When using this technique, marketers analyse such aspects as level of attention and motivation among the audience.
During marketing research, marketers can also review internet strategic intelligence and distribution channel audits. Jobber and Ellis-Chadwich (2012) observe that strategic internet intelligence, as a form of marketing research technique, entails gathering the opinions and views of consumers regarding their experiences with different products in the market. With the help of this strategy, marketers are able to determine the right information to be communicated when advertising the brand new product. Auditing distribution channels helps to measure the attitudes of retailers and distributors towards a new product (Burns & Bush 2013). If vendors have a positive outlook, they tend to promote the product to consumers. As a result, the commodity may gain the desired success in the market.
Importance of Marketing Research
A marketing research process that is guided by information on the characteristics of the procedure, and which adopts the appropriate techniques, enhances the success of the new product in the market (Bradley 2010). A number of studies conducted in the corporate world support the importance of marketing research. According to Aaker et al. (2012), marketers use the procedure for learning purposes. They also use it to make informed choices.
Select Promotional Techniques
Marketing research is essential to the success of a new product because it helps companies to develop the appropriate sales promotion techniques. The method leads to increased sales in the market. The process also helps marketers to choose the best media to publicise the product. In addition, marketing research helps to manage the challenges associated with after-sales and to prepare an advertising budget (Kotler & Armstrong 2011). For example, a company wishing to bring a new energy drink into the market can come up with the right budget based on the advertisement and sales promotion techniques chosen.
Provide Alternatives
One of the benefits of marketing research is its ability to provide companies with a picture of what will happen when a new product is promoted. In addition, the procedure gives marketers alternative choices (Clow & James 2013). For example, an effective marketing research can provide companies with multiple options that can be used to introduce brand new products into the market. As a result, the marketers can select more than one alternatives based on how their ability to promote the success of the product.
Studies Consumer Behaviour
Marketing research provides vital information on the behaviour and attitudes of the target consumers. Some of the data provided include preferences, age, and levels of income. In addition, the research also highlights the opinions of customers with regards to the manufacturers products (Bradley 2010). The information is used by marketers to create the appropriate production and marketing policies. For example, a company launching a new affordable cosmetic product may focus on female consumers from the middle class.
Evaluate Marketing Performance
Marketing research helps marketers to assess the performance of the marketing strategies adopted by the company. As such, the appropriate measures can be put in place to enhance the process. According to Jobber and Ellis-Chadwich (2012), the process is used to gather data on the effects of such aspects as brand name, price, and packaging on sales. For instance, marketers can gather information on other products in the market and advice the company on the type of packaging that will motivate consumers to purchase the brand new commodity.
Effective Promotion
Promotion is important to the success of a product. Marketing research helps companies and manufactures to determine the best advertising channels. The platforms include radio, internet, television, and print media. The media channels used can be paid for or used for free (Kotler & Armstrong 2011). Selecting the right channel to connect with consumers can attract a big number of customers within a short duration. Poor marketing can affect the success of the new product in the market (Boone & Kurtz 2012).
Benefits to Products
One of the initial steps of marketing involves the process of determining the needs and preferences of the consumers. The information helps companies to develop marketable products and services. However, familiarity with consumers preferences alone does not guarantee the success of the new commodity. One of the factors that enhance the success entails the benefits associated with the product. Marketing research helps marketers to relay the right information about the advantages of a product to the target consumers (Pride & Ferrell 2011). For example, a brand new product can have the benefits needed by consumers, but fail to succeed in the market. The failure may be associated with the inability of the marketers to communicate the benefits.
Formulate Market Strategies
Today, the markets targeted by companies are both local and global. Some manufacturers find it challenging to communicate information about their commodities and connect with consumers from abroad. In addition, other companies find it difficult to control distribution channels and predict the needs of the customers (Burns & Bush 2013). As a result, such factors make it hard for the new product to compete in the market and achieve success. The marketing information gathered during research helps marketers to develop and implement the suitable promotional strategies that can be used to manage the challenges.
Sales Forecasting
Maintaining optimum levels of stock is a major problem for most production managers. However, production of commodities is influenced by demand. As a result, it is important to carry out a scientific forecast of probable sales for the new product. Malhotra (2011) observes that marketing research helps managers to predict sales using market share, jury, and sales force techniques. The information enables firms to determine the best marketing plans for the new commodity.
Conclusion
Research is the process of collecting information to gain knowledge on something that is not well known. Marketing research is important to the promotion of a new product. Conducting research on the 7Ps will improve the performance of the brand new product in the market. Some of the benefits of this strategy include helping manufactures to formulate and implement the best marketing strategies, forecast sales, and determine the needs of consumers. In addition, the process helps to evaluate the marketing performance of an organisation. If marketing research is carried out well, manufacturers will be able to facilitate the smooth introduction of brand new products into the market.
References
Aaker, D, Kumar, V, Leone, R & Day, G 2012, Marketing research, 11th edn, John Wiley & Sons, Hoboken.
Boone, L & Kurtz, D 2012, Contemporary marketing, 15th edn, South-Western College Publishers, Sydney.
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