Casestudy skills marketing assignment
Themarketing mix: promotion strategy
Selecttwo products from the list of the product categories below and usingthe teaching materials and any additional research explain what youthink would be an appropriate promotions strategy for both them. Indoing so compare and contrast the two promotion strategies explainingwhy you think they would be similar or different.
Selecttwo products from the following product categories:
AIRLINEFLIGHTSCARBONATED SOFT DRINKSBREAKFASTCEREALSEXERCISE EQUIPMENT
Illustrateyour answer by referring to specific brands within each of the twoproduct categories you have chosen.
Themarketing mix: promotion strategy
Marketingmix is profound in product branding, advertising, relationship andmost crucial product promotion. In product promotion strategy, it isa strategy that is used to capture preferences and expectation ofpotential customers. Basically, customers observe what is in themarket by arranging it in terms of his or her preferences. Therefore,marketing manager should be able to seize the attention of theircustomers by advocating the best strategy of product promotion. Also,it gives competitive advantage to the firm as enables it competessuccessfully with its competitors. In this case study, willexclusively deals with two brands from two categories of CarbonatedSoft Drinks and Exercise Equipment, namely Skates and Coca-Cola.
Thesetwo brands require unique treatment in terms of promotion strategydepending on the segments of markets and targeted customers. On theother hand, they may require similar promotion approach due to theircompliment nature. Managers have to carefully study the market oftheir product of interest before launching them in the market. Thereneed to consider the 4p’s in the market mixing (Moschis,1994).Product, Price, Promotion and Preferences are the key movers of themarket. All these factors are resilience and none of them should beignored for the firm to successfully compete in the market (Moschis,1994).In addition, promotion strategy brings the gap and it entails thefollowing:
Marketsegmentation: There is a need for the marketer to divide the marketsince it would be difficult to capture the interest of the mass. Itis also costly to try to reach each and every potential customer.Skates brand for example, require the marketer to drill further toknow the condition and the state of the place he or she intends toventure the product. Factors to consider should be the smoothness ofthe place since it require a flat and smoothly ground for it to beused. Consider the average income of the customer in order to knowwhich area to target and the product to be marketable (Gelder &Woodcock, 2003). This acts as a good communication path between theseller and the consumer and able to evaluate consumers according todifferent grounds. Communication can be effected by designingquestionnaires, face to face interaction, and statistics fromwebsites among others. In contrary, Coca Cola brand require theseller to observe the weather condition and the refreshment sitesmostly used by people.
Anotherpromotion strategy is targeting the very most intended group of theconsumer. It refers to passing the right information either byinforming of a new product or by attracting business away fromcompetitors. The efficacious way of passing this information is maybe through advertisement. This can be through magazine, website,social Medias or journals. Sales promotion in respect with coupons,discounts and loyalty incentives can drive the customer to buy theproduct of interest (Moschis,1994).Public relation through using press media and press releases canbring about good relationship to the public. A very sensitive methodis that of personal selling. This is handling a potential customerdirectly through trade show and exhibitions, salesmen andexperiential marketing. This includes first-hand information from theactual buyer and receives feedback immediately and able to capturesthe taste and preferences of the customers. Also due to distance,seller may prefer to conduct business through the internet(e-commerce). Therefore, for effective communication, the best modeof communication is chosen, in order the information to reach thetargeted group. Coca cola brand due to competitive nature of softdrinks, it requires intensive information to be advertised andcommunicated to the consumers. Similarly, Skates may best fit one-commerce since for it to be known by customers.
Positioningis also paramount in terms of branding of products (FrostburgState College & Flowers, 1984).It fosters competitive advantage mostly in coca cola brand. Thiscreates image of the firm jointly with other marketing mix strategy.Also, cooperate identity is used to bring consistency by use ofspecific logos or slogan to hold the image of the firm. For example,Coco Cola firms use unique logos of black and reds color to make iteasier to be identifiable globally.
Themessage prepared to reach customers in the market should be coiled inorder to communicate the intended message. This is vital and crucialin product promotion. This information in the message should bedeveloped and advertised in the market in various perspectives. Itmay designed to inform or attract awareness of new product, persuadeby changing how customer perceive a certain product or finally meantto remind people about presence of a certain product in the market(Gelder & Woodcock, 2003). Coca cola firm mostly may designinformation to remind customers about the beverage and discountoffered to them.
Ingeneral, coco cola brand takes a different promotion strategy as it’sused by every person while skates only by specific people. Oncontrary, sellers should be able to capture weather trend to be ableto know in what amount they are required. Similarly, skates needs tosegment the market and evaluate the market together with thecondition of the area. Advertisement and communication of informationis much pertinent to both products brand for its competitiveadvantage.
Moschis,G. P. (1994). Marketingstrategies for the mature market.Westport, Conn: Quorum Books.
FrostburgState College, & Flowers, R. (1984). Marketingresearch study on developing a promotional strategy for Whitetail SkiResort.Frostburg, Md.: publisher not identified.
Gelder,D., & Woodcock, P. (2003). Marketingand promotional strategy.Cheltenham: Nelson Thornes.