...------------------------------------------------- Developing Products and Promotion Strategy Farhan Shah Ramlan (2168102) Abstract MK3UWA: New Product or Service Marketing Plan Introduction Red Bull Gives You Wings Being a market leader in the market of energy drinks and being in the mature stage of the their product life cycle, RedBull constantly comes up with new ideas and strategies to stay at the top of the consumer business among its competitors. By having a variety of types of drinks to cater to different segments of the market, RedBull has introduced various editions of the internationally-renowned energy drink to cater to different segments of the market, such as Red Bull Cola for teenagers, Red Bull Zero Calorie & SugarFree for the health conscious, and flavored Red Bull Cranberry, Lime and Blueberry to meet the wants of the consumers who seek variety. With the introduction of a new addition to the existing product line around the 2014 FIFA World Cup, a major sporting event and a worldwide phenomenon that is watched by millions around the globe at the stadium or at their local pubs or even on the television in their homes. Red Bull aims to increase brand awareness by associating the brand name to the event and increase market share by developing a unique selling point/product differentiation in order to obtain some of the competitors’ regular consumers. The introduction of this new product will not cannibalize the other products in the line as it caters to a completely...
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...summary………………………………...3-4 Strategy…………………………………………….5-11 Summary…………………………………………...12 References………………………………………….13 Executive Summary A Compete Guide for Marketing Simulation is written to help future students in winning compete simulation game. Before implementing proposed strategy, students should know answers for following questions: 1) What students should do? Read manual: The student should read “Compete: A Dynamics Marketing Simulation.” Without reading complete manual, you can’t able play simulation game. It gives you an insight on marketing simulation (Compete-background, developing the marketing program and playing compete). 2) What students should know? Student should know about Industry, Market, Company, Product, Regional and Seasonal Sales Fluctuations. This report will help students in preparing sales and marketing strategy. Assume that your company Renaissance Electronics is one of up to five firms operating in an industry that produces and markets state-of-the-art consumer electronic products. Then, you should maintain unique strategy by product by region. This guide gives nine combinations of strategies by product by region. The Compete simulation is very challenging and uncertain game. Each company begin playing compete game with their custom design strategies and makes decisions accordingly. The good decision will result company in healthy condition (High earning per share, less inventory carrying cost and high market share by product by region.) The...
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...tising Task 1 The communication process that applies to advertising and promotion Task 1.1 Communication is contact between two or more parties, giving information. The effective use of advertising and promotion is a fundamental requirement for any business seeking to succeed in the modern business world. Advertising Strategy An advertising strategy is designed to sell a product. It is a one-way form of communication, from company to consumer, geared toward giving consumers the information necessary to make a purchasing decision. Advertisements tell consumers about the product and how to get it. The purpose of advertising is to sell products and to build brand name. Promotional Strategy The promotional strategy is a two-way interaction between company and consumer designed primarily to increase sales, often by attracting new customers. Brand building is a side effect of promotional strategies, but it is not the purpose. Promotional strategies give away something, whether it is free product, money or other awards, as a way to bring in consumers who may not be attracted to the product under normal circumstances. Marketing Communications & Promotion processes deal with overall communication to customers and markets. Marketing Communications processes develop and manage communications to the market, prospective and existing customers. Communications involves both the message and the media. Marketing Communications can develop a message and manage its delivery through...
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...Hairs in Product Positioning description After three years of development, Paramount Health and Beauty Company is preparing to launch a new technologically advanced vibrating razor called Clean Edge. The innovative new design of Clean Edge provides superior performance by stimulating the hair follicles to lift the hair from the skin, allowing for a closer shave. The company has already decided to introduce Clean Edge into the men's market where it has a strong presence. Jackson Randall, the product manager for Clean Edge, struggles with how best to position the product for the launch. One strategy is to release Clean Edge as a "niche" product, targeting the high-end market of fastidious groomers looking for superior skin care products. Another strategy is to release the product into the highly competitive mainstream razor market where the product can be positioned as the most effective razor available. Randall meets internal resistance to the mainstream strategy from the product manager for the company's current, but aging, mainstream razor products and he must consider the effects of cannibalization in his plan. Randall must recommend an optimal strategy and provide supporting economic analysis of his decision--not just for Clean Edge, but for its effect on the entire company. Learning objective: Explore issues associated with strategic product positioning. Review new product development process and understand the importance of evaluating product-company and product-market...
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...Marketing and Promotion: A study of marketing andpromotion successes and failures at Apple Inc. | Content Why I chose to examine Apple Inc.'s marketing and promotions strategies…..P.3 Background………………………………………………………………….……..P.4 Initial Product Marketing & Promotion: Apple I, II and III………………...…P.4 Primary New Product Launch: “Classic Macintosh” and Family……….……..P.5 Further Success in Novel Products, Marketing and Promotions: iPod….……..P.5 Expanding to Mobile Devices: Marketing and Promoting the iPhone………....P.6 Fortified Marketing and Promotions: Operating Systems and Capabilities…..P.7 Other Marketing and Promotion Strategies……………………………….......P.7-8 - Back to School Promotion - School Bulk Purchasing - Trade-In Program Conclusions………………………………………………………………………....P.8 Reference…………………………………………………………………...………P.9 Why I chose to examine Apple Inc.'s marketing and promotions strategies. I specifically chose Apple Inc. for the marketing and promotions assignment not only because Apple Inc. is well-recognized for the quality and marketing of its products on a global scale, but also for its history. Whereas a number companies which have excelled through aggressive and strategic marketing strategies, Apple Inc.’s history reveals multiple decades of rebranding and reorientation, which led to its position and success today. From Apple Inc.’s first home computers, the Apple I, II, and III, to their latest iPhone series, Apple has established...
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...MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY To purchase this visit here: http://www.activitymode.com/product/mkt-475-wk-8-assignment-2-marketing-strategy/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY MKT 475 WK 8 Assignment 2 - Marketing Strategy Implementation Part 2 This assignment is a continuation of Assignment 1. Write a six to seven (6-7) page paper in which you: 1. Determine any strategic partnerships the department store chain could develop that would help promote the higher-ranged-priced products and support the expansion in the west coast. 2. Construct a strategy for managing the higher-ranged product brands. Provide a rationale for your strategy. 3. Develop a pricing strategy for the higher-ranged products. Provide a rationale for your strategy. 4. Generate at least two (2) ideas for sales promotion, advertising, and sale promotion strategies. More Details hidden... Activity Mode aims to provide quality study notes and tutorials to the students of MKT 475 WK 8 Assignment 2 Marketing Strategy in order to ace their studies. MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY To purchase this visit here: http://www.activitymode.com/product/mkt-475-wk-8-assignment-2-marketing-strategy/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY MKT 475 WK 8 Assignment 2 - Marketing Strategy Implementation Part 2 This assignment is a continuation of Assignment 1. Write a six...
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...awareness. By being in the baking soda category and more or less defining the category as a whole, it has created a reasonable level of acceptance of the multiple uses for the product and in turn the brand as well. As for distribution, the brand has demonstrated extremely high levels of penetration among the various retail outlets in grocery stores, mass merchandise stores, and drug stores. As for the weaknesses, the primary limitation of the brand is the lack of awareness of the multiple cleaning purposes of the product. The brand and the product are both widely considered to be rather boring and unappealing, and to make matters worse the product has not undergone any changes in the past century. The category and in turn the brand are experiencing increasing selling prices, low traffic and low turnover. Lastly, there is an extremely low recollection among consumers when it comes to the advertising of the brand irrespective of the medium. 2. Analyze the effectiveness of past RBS consumer and trade promotional events. How have the promotion strategies impacted sales volumes? What kind of return on investment is the company getting for consumer products and trade promotions? Based on the information provided in the case and specifically in Exhibits 7,8, and 9, we can see that the consumer promotions are close to 30% less effective in terms...
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...A push promotional strategy involves taking the product directly to the customer via whatever means, ensuring the customer is aware of your brand at the point of purchase. "Taking the product to the customer" EXAMPLES OF PUSH TACTICS * Trade show promotions to encourage retailer demand * Direct selling to customers in showrooms or face to face * Negotiation with retailers to stock your product * Efficient supply chain allowing retailers an efficient supply * Packaging design to encourage purchase * Point of sale displays 2. PULL STRATEGY A pull strategy involves motivating customers to seek out your brand in an active process. "Getting the customer to come to you" EXAMPLES OF PULL TACTICS * Advertising and mass media promotion * Word of mouth referrals * Customer relationship management * Sales promotions and discounts The origin of these two terms refers to the supply chain and how the demand for the product is generated. The term 'push strategy' describes the work a manufacturer of a product needs to perform to get the product to the customer. This may involve setting up distribution channels and persuading middle men and retailers to stock your product. The push technique can work particularly well for lower value items such as fast moving consumer goods (FMCGs), when customers are standing at the shelf ready to drop an item into their baskets and are ready to make their decision on the spot. This term now broadly encompasses most direct promotional...
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...Executive summary: Advertising and promotion is used to inform about the products or service to customers, stakeholders or boarder publics. To fulfill this motive, many strategies has been developed and practiced over the world. In this era of technology and science, it has become easier to carry out advertising and promotional activities. This assignment has been specially designed about the communication, strategies, techniques and evaluation that are needed to carry out proper advertising and effective promotion. The importance and significance of promotional activities have also been included here. The assignment is writing in such a way that all kinds of readers can easily understand the points mentioned here. Table of Contents Executive summary: i Introduction 1 LO 1: Understanding the scope of marketing communication. 1 1.1 Communication process that applies to advertising and promotion. 1 1.2 The organization of advertising and promotion industry. 2 1.3 Assess how promotion is regulated. 3 1.4 Examine current trends in advertising and promotion including the impact of ICT. 3 LO 2: Understand the role and importance of communication. 4 2.1 Explain the role of advertising in an integrated promotional strategy for a business or product. 4 2.2 Explain branding and how it is used to strengthen a business or product. 4 2.3 The creative aspects of advertising. 5 2.4 Ways of working with advertising agency. 5 LO 3: Understand below-the-line techniques...
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... An in-depth Analysis of Advertising and Promotion | Table of Contents Introduction 3 Task 1 3 Explanation of the communication process that applies to advertising and promotion 3 Explanation of the organization of the advertising and promotions industry 4 Assessment of how promotion is regulated 5 Examination current trends in advertising and promotion, including the impact of ICT 6 Task 2 6 Explanation of the role of advertising in an integrated promotional strategy for Kellogg 6 Explanation of branding and how it is used to strengthen a business or product 7 Review of the creative aspects of advertising 7 Examination of ways of working with advertising agencies 8 Task 3 8 Explanation of primary techniques of below-the-line promotion and how they are used in an integrated promotional strategy by Kellogg’s 8 Evaluate other techniques used in below-the-line promotion by Kellogg’s 9 Task 4 10 An appropriate process for the formulation of a budget for an integrated promotional strategy: 10 Development of a promotional plan for a business or product: 11 Integration of promotional techniques into the promotional strategy for a business or product 11 Appropriate techniques for measuring campaign effectiveness 12 Conclusion: 12 References 13 Introduction Advertising is the core part of any business that sell products and render service in the global market. Thus advertising and promotion is an integral part of an organization that...
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...|Producing a Promotional Strategy | |What is a promotional strategy? | |Most of us are familiar with market research as suppliers (or information providers) try to obtain information from us (or library users) | |on what we require. Promotion is the reverse side of this. Organisations use promotion to communicate with customers about products they | |offer. Promotion is thus one half of the communication process with customers. Ideally it will work co-operatively with market research (in| |an iterative feedback loop) so that the constantly changing requirements of users are met by promotional activities that target (or even | |anticipate) these expressed needs. | | | |Such activities need to be managed. They require the allocation and expenditure of resources, whether physical (promotional products) or | |intangible (staff time or use of existing facilities). As such they cannot simply be allowed to grow organically – they require shaping and| |direction via a promotional strategy. ...
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..."Push or Pull"? Marketing theory distinguishes between two main kinds of promotional strategy - "push" and "pull". Push A “push” promotional strategy makes use of a company's sales force and trade promotion activities to create consumer demand for a product. The producer promotes the product to wholesalers, the wholesalers promote it to retailers, and the retailers promote it to consumers. A good example of "push" selling is mobile phones, where the major handset manufacturers such as Nokia promote their products via retailers such as Carphone Warehouse. Personal selling and trade promotions are often the most effective promotional tools for companies such as Nokia - for example offering subsidies on the handsets to encourage retailers to sell higher volumes. A "push" strategy tries to sell directly to the consumer, bypassing other distribution channels (e.g. selling insurance or holidays directly). With this type of strategy, consumer promotions and advertising are the most likely promotional tools. Pull A “pull” selling strategy is one that requires high spending on advertising and consumer promotion to build up consumer demand for a product. If the strategy is successful, consumers will ask their retailers for the product, the retailers will ask the wholesalers, and the wholesalers will ask the producers. A good example of a pull is the heavy advertising and promotion of children's’ toys – mainly on television. Consider the recent BBC promotional campaign for its...
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...Introduction Promotion is used by organisations to communicate with customers with respect to their product offerings. In this sense, promotion is one side of the communication process with customers. Market research, in which suppliers seek to elicit information on consumer requirements from consumers, is the complementary component of the communication process. The following summarises this very simply: Promotion → Producer Customer ← Market research In some forms of promotion and service delivery, communication in both directions can be achieved simultaneously, and since two-way communication is the only real form of communication, promotion which is associated with two-way communication is to be encouraged. Examples of such two-way promotion emerge largely from the contexts of services marketing and relationship marketing. In services marketing, for example, promotion can be part of the service delivery. Exchanges between the service agent and the customer can elicit information about customer requirements, and also permit the service agent to explain the organisation’s products and how these might meet the customer’s needs. Similar kinds of exchanges can occur in the relationship marketing interest in business-to-business marketing transactions where the sales person is a significant agent in the establishment of relationships between customer and the organisation. A more formularised approach, the use of loyalty and reward cards, in, say, supermarkets, offers another approach...
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...workers of 7up Company and some customers in Solebo Estate in Lagos. The researcher adopted the simple percentage and regression model for the analysis of the collected data.. The result of the findings revealed that strategic promotional mix influences the sale turnover with little 25% while other variable not included in the variable tested takes the larger 75% that will rapidly lead to organisation growth. Since promotional mix constitute few % of variable that can push an organisation to the highest level, therefore other factors of marketing mix such as product development, effective pricing, distribution of right quality and quantity to the consumers should be appropriately considered. Key words: Strategic promotional mix, marketing mix, regression model, push and pull strategy. It is not enough for a business to have good products sold at attractive prices. To generate sales and profits, the benefits of products...
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...Promotional and Advertising Strategies By Aveon Sims Strayer University BUS 508 Contemporary Business Professor Jean Fonkoua August 31, 2014 Promotional and Advertising Strategies Promotion and marketing are among the most essential market mix features or elements. Market mix involves different strategies commonly known as the 4P’s: product, price, place and promotion. The key motive of promotion is to increase clients’ awareness of a brand or a project increase brand loyalty and generating sales. Promotional mix is composed of diverse elements such as personal selling, sales promotion, advertising, publicity and direct marketing. Both large and small customers understand the importance of promotional advertising strategies such as turning a new product to become a household name or established products into to top priority of the customer. Small and large companies benefit through applying different strategies of promotion and attracting more customers. A television set has become a necessity in the modern life with all the families searching for the best brand that is easier to operate and has more applications. Different organizations have ventured into the manufacturing and assembling of television set to enjoy the advantages (Scissors & Roger 2002). The paper will focus on advertising and promotional strategies applied by different companies that concentrate with manufacturing and assembling television sets. Samsung and Sony have emerged as the two most successful...
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