...Wal-Mart’s Promotion Mix and Integrated Marketing Communications Wal-Mart is a top ranked company with high financial performance. The giant is a none other-than a retailer of general and consumable goods. They are an envied company that seem to do everything right. As a company, they position themselves to address the needs of customers by operating retail stores around the world focusing saving people money so people so can have additional financial resources for other things. Combined efforts in Advertising, Direct marketing, internet marketing, sales promotion public relations and personal selling investigated to learn about their success. Wal-Mart operation is broken in three areas Wal-Mart US, Wal-Mart International and Wal-Mart international they also have Wal-Mart.com to shop and use free shipping. “The Wal-Mart International segment consists of the company’s operations outside of the United States and Puerto-Rico. The Sam’s club segments include warehouse membership clubs in the United States and Puerto Rico as well as Sam’s Club.com” (Arkansas, 2011). Wal-Mart international net sales, US sales and Sam’s sales were $109 billion, $260 billion $49 billion respectively for fiscal year 2011; Wal-Mart plan on growing stronger by opening new stores and selling more items. Wal-Mart is currently No 1. On the fortune, 500 companies; in 2010, sales were $ 422 billion, and they increase profits during the recession competing retailers struggling. Wal-Mart provides awareness...
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...Energy Capsule Promotion Mix The target market for an energy capsule would normally comprise of those within the age group of 20-30. The sole purpose of selecting this target audience is due to the fact that they are vibrant community full of zeal to perform. However, with the zeal comes effort which gets replenished and hence energy needs to be revived to ensure that there is no compromise with the performance. ADVERTISEMENT: One of the major competitors to the energy capsule business would be a sound and peaceful sleep. When there is a loss of energy due to tiredness and exhaustiveness, people normally tend to take a nap or sleep. Making use of this idea and promoting a campaign on these grounds would be interesting. Bringing about an ambush marketing strategy in this context would be a great advertisement venture. “Energizing the Sleepy Joes” could be the tagline used where the advertisement would show the transition between a tired sleepy Joe who becomes unaware of his surroundings to an energized and refreshed individual with the help of the tablet. Another advertising strategy that could be implemented is based on the social needs, where an individual could be shown partying the night away and still fit and fine enough to attend office the next day. This could come with the tagline: “When good times are just a capsule away” SALES PROMOTION: Sales promotion is the added impetus to buy and hence there should be a clear perception as to what benefits would a customer...
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...Introduction. The essence of business development and commercialisation can be said to be market and growth strategies. Porter’s Generic strategies can be used for this purpose. A well thought out market strategy can minimise risk and increase profits, which is of key importance especially for start up companies with little funding and resources. In order to grow, companies need to adopt strategic frameworks, which can if understood and used in the right way, help the company decide on their next step in the market place. I will first give a brief introduction to Porter’s Generic strategies theories and discuss advantages and disadvantages for using these framework in business development and commercialisation projects in this case Men’s clothing brand. Porter’s generic strategies. According to Michael Porters “Competitive strategy: Techniques for analysing industries and competitors” from 1980, one can use Porter’s generic strategies theories to find the optimum position for a company within an industry. Often, a determinant of a company’s profitability can be said to be the attractiveness of an industry in which it operates. This mean that companies that manage to place them self correctly can generate more profits than companies who have not thought about their optimal position. The framework is called generic because it is not industry dependent. A company should reflect on its strengths and weaknesses in order to find its competitive advantage, and this unique strength...
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...DISCUSSION The Promotion Mix I. Promotion Mix Promotion mix or marketing communications mix is the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships. Communication Process 1. The Communication Process 2. Steps in developing effective communication: * 2.1. Identify the target audience * 2.2. Determine the communication objectives * 2.3. Designing the message * Message content * Message structure * Message format * 2.4. Choosing media * Personal communication channels * Nonpersonal communication channels * 2.5. Selecting the message source * 2.6. Collecting feedback Setting the Total Promotion Budget The company must determine how to divide the promotion budget among the major tools to create the promotion mix through either of the following methods: 1. Affordable Method 2. Percentage-of-Sales Method 3. Competitive-Parity Method Objective-and-task Method II. Integrated Marketing Communication The need for integrated marketing communications due to changing factors in today’s marketing communications: 1. Changing consumers 2. Changing marketing strategies 3. Sweeping advances in communication technology Integrated Marketing Communication Carefully integrating and coordinating the company’s many communications and compelling message about the organization and its products through the 5 major promotion tools: ...
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...Define the five promotion mix tools for communicating customer value. The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships, is called the promotion mix. It is also known as marketing communication mix. They are discussed below. Advertising: Any paid form of non-personal presentation and promotion of ideas, goods, or services by as identified sponsor. Advertising can reach masses of geographically dispersed buyers at a low cost per exposure, and it enables the seller to repeat a message many times. For example television advertising can reach huge audiences. Sales promotion: Short-term incentives to encourage the purchase or sale of a product or service. Sales promotion includes a wide assortment of tools- coupons, contests, cents-off deals, premiums, and others all of which have many unique qualities. They attract customer attention, offer strong incentives to purchase, and can be used to dramatize product offers and to boost sagging sales. Personal selling: Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships. Personal selling is the most effective tool at certain stages of the buying process, particularly in building up buyer’s preferences, convictions and actions. It involves personal interaction between two or more people, so each person can observe the other’s needs and characteristics and make quick adjustments. Public relations:...
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...In this task, I will be explaining the role of promotion within the marketing mix for McDonald’s. Product- The product is at the heart of the whole marketing process. A business must have the right types of products that meet the needs of the market, live up to customer’s expectations and deliver its said benefits. A quality product is one that meets both the wants and needs of its consumers. Example: “The Big Tasty, served with bacon, features a 100% beef patty with square cut lettuce, onions, two tomato slices, Big Tasty sauce and three slices of cheese, made with Emmental, all in a sesame-topped bun.” http://www.mcdonalds.co.uk/ukhome/product_nutrition.beef.204.big-tasty-with-bacon.html Price- Price is the next thing that is important within a company’s “marketing mix.” A promotional activity should inform customers of the price of the product being promoted. Although price may be an important deciding factor of the product being promoted, it also carries implications for quality and value. Pricing has a lot to do with how a product is perceived. If a product is priced too expensive for its perceived benefits, it will most likely not sell in significant volumes. However, if a product is priced too low, then it can easily be considered as somewhat inferior to its competition. In order for the company to find out how they can best fit into the competitive market, they must first take a good look at their competitor’s products and positioning. Example: Products such as...
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...The role of promotion in the marketing mix is of special attention for anyone who wants to make sure the right consumers are reached, using the forms of media advertising that are most likely to connect with buyers and ultimately generate a high volume of sales. Promotions such as television, radio and magazine advertising increase brand awareness. More people tend to learn about a particular company or its brands if they frequently see or hear about them. New companies particularly have to advertise to apprise consumers who they are and what they offer. This is true with local or even national companies, as brand awareness can be measured by market, regionally or nationally. It can take many months or even years for companies to build brand awareness levels that match established competitors. New product development When Sainsbury are thinking of developing a new product they need to consider the 8 stages referred to as the new product development process. The 1st stage is idea generation: Sainsbury need to make sure there ideas come from somewhere. Sainsbury get there new ideas from market research by maybe asking people directly by doing surveys to see what their needs and wants are. They also may ask their employees as they are the ones that would know the most about what products customers are wanting or what products the business may benefit from. They also may ask there consultants, community, customers and also there distributors and suppliers. Sainsbury may also...
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...In this task I will be explaining how promotion is integrated with the marketing mix in Audito achieve its marketing aims and objectives. Audi Audi is a German car manufacture company founded in Zwickau, Germany on 16 July 1909. It is founded by August Horch. Audi cars are considered as a luxury vehicles because of its brand reputation. From the 1996 the 99.5 % of Audi is owned by Volkswagen group. The main principle of this research proposal is to analyze the marketing strategy of Audi in the general market. This research proposal further reveals the approaches or a way of methods to achieve the expected results of this research and to gain knowledge of Audi’s marketing strategy. The idea of this research is raised from the main aim of Audi approaching the target market worldwide. Their aim is to be leading luxury car brand worldwide. This research proposal shows the way of accomplishing the research aims and objectives. The result of this research could open the door for Audi as well as any automobile companies to enter and to dominate the car transportation market. This research would clearly define the problems that Audi is facing in the market and the result of this research would be a solution for all the problems. This research will be focusing more into the car market. As the advertising world is changing, more and more businesses like Audi are making use of viral marketing strategies to enhance their online presence since these are efficient, and cost-effective tactics...
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...Permata Bank uses a mixture of advertising, sales promotion, public relations and direct marketing in its marketing communications programme, with each promotional element targeting at different stages of consumers’ hierarchy of effects. Advertising uses mass selling to reach out to, and increase brand awareness of the the large group of prospective buyers. PB uses both traditional media including television, newspapers and magazines, and online platforms like Facebook and Twitter for advertising. All of these advertising activities revolve around the same theme “Bank for You and Your Family”, sending out similar messages to its target audience and increase exposure of the potential buyers to the brand. In conjunction with advertising, sales promotion provides a short-term stimulation of sales of PB’s financial products. In December 2013, PB introduced an instalment programme for high-end brands and launched cashback programme. These sales promotions seek to encourage both trail and adoption of PB’s financial service, increasing both first-time spending of new customers and repeated purchases of existing buyers. Public Relations also plays an important role in PB’s marketing communications programme. Through a series of media conferences, forums and press releases, PB has made an indirectly paid presentation of itself to the general public. In May 2013, it sponsored Master Chef programme by RCTI, Indonesia’s largest television station, which further increased PB’s media exposure...
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...P2 – Using Walkers crisp as an example, describe the role of promotion within the marketing mix Introduction In this report, I will consider and discuss the different aspects of the marketing mix – Products/Service, Price, Place, Packaging, People and Physical Evidence - in which are currently important to Walkers. The advert, which I have chosen, is the new ‘Walkers Extra Crunchy’ Ad, which includes Lionel Richie. The story line of the advert is how Gary Lineker will react when Lionel Richie brings his message of sharing to the nation. Walkers have made over 60 different flavours of crisps and have multiple different types of crisps including; Baked, Cheese Heads, Crinkles, Deep Ridged, Extra Crunchy, Lights, Max, Pops, Potato Heads, Salt n’ Shake, Sensations, Sun bites and Hoops and Crosses. Products/Services There are many different components within the products/services section and Walkers only really fits into one of those, which is the product features. Within the advert I have selected they will be talking about the ‘New’ crinkly crisps. Therefore, they are advertising the type of product features that the crisp have, which walkers have, many of that have already been mentioned above. Price Walkers do not include Price in there adverts and they defiantly do not use it in this advert, which I have used. However, there are company’s which will include price is their marketing mix for advertisements. An example of a company, which would include price in their adverts...
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...I have been asked to explain how promotion is integrated with the rest of the marketing mix in a selected organisation to achieve its marketing aims and objectives. I will be referring to Walkers as my chosen business throughout completing this task. Definition Specific objectives Corporate mission statement Overall vision Their aim is to produce a first class product that everyone enjoys. Business Aims and Objectives What has to be achieved to deliver the vision The objective is to manufacture a quality product to a high standard and become the leading brand in the UK. Marketing Objectives Marketing contribution to the corporate objectives Marketing objectives – ‘maintain market dominance’ Promotional Objectives Promotional tactics to be used, Promotional objectives – ‘Keep the brand exposed and the brand name heightened within the market’. 1. Awareness of the organisation’s aims and objectives and supporting the business aims and objectives: • One way to achieve this is by transforming the organisation’s overall objectives into marketing objectives. This can be achieved through the knowledge of the organisation’s overall mission and sharing the vision with the marketing team. This aim is then broken down into small achievable objectives e.g. to launch technologically advanced products etc. 2. Raising Awareness: • Raising awareness through promotion is crucial to achieving the business aims and objectives as awareness would eventually translate...
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...facing in the market and the result of this research would be a solution for all the problems. This research will be focusing more into the car market. As the advertising world is changing, more and more businesses like Audi are making use of viral marketing strategies to enhance their online presence since these are efficient, and cost-effective tactics. Viral marketing is a free, word-of-mouth advertising technique to increase your brand awareness online and offline by getting people to talk about your products and services, perfect for Facebook, Twitter, YouTube, blogs and other popular social media sites. Here are a few examples of what Audi use in terms of their viral marketing strategies: * Viral opt-in list email marketing promotion * Viral reciprocal linking with other websites and blogs * Viral web site...
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...that promotion is all about television advertising, advertising agencies and big bills. This report will analyse where the promotional mix lies in the marketing mix, what the promotional mix is, the four key elements it comprises of and whether TV advertising really is the most important. Research was conducted by drawing on marketing text books, industry magazines and phone/email questionnaires with marketing professionals. The results of the research indicate that the promotional mix is imperative to a marketing campaign and is tailored to suit the marketing message. The report concludes that the promotional mix should definitely be a part of any marketing campaign. Introduction There are many ways businesses choose to promote themselves or their next product or service and the consensus seems to be promotion is all about television advertising, advertising agencies and big bills. But what is promotion? Promotion forms a vital part of the marketing mix. The marketing mix has four to seven elements that form part of its structure – product, price, promotion, place, people, processes and physical evidence; and can be defined as a framework describing the different elements that marketers need to consider (Elliot, Rundle-Thiele & Waller, 2010, pp18). This report will analyse where the promotional mix lies in the marketing mix, what the promotional mix is, the four key elements it comprises of and whether TV advertising really is the most important. Promotion is a vital...
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...22 Marketing Mix 22.1 Introduction The basic task of marketing is the delivery of product(s) to consumers so that their needs are fulfilled and organisational objectives are also achieved. This involves several important decisions, e.g. deciding about the product or products which should be offered for sale, price of the product, markets where products may sell and the means of communication with the consumer for the sale of the product. All these decisions form part of marketing-mix. In this lesson we shall study about the concept of marketing mix, its components and the relationship among various components of marketing mix. 22.2 Objectives After studying this lesson, you will be able to : explain the concept and characteristics of marketing mix; describe various components of marketing-mix; establish the relationship amongst various components. 22.3 Concept and Characteristics of Marketing Mix The process of marketing or distribution of goods require particular attention of management of business because production has no relevance unless products are sold. Marketing mix, simply stated, is the process 20:: Business Studies of designing and integrating various elements of marketing in such a way as to ensure the achievement of enterprise objectives. The elements of marketing mix have been classified under four heads - product, price, place and promotion. That is why marketing mix is said to be a combination of 4 P’s. Decisions relating to the product include...
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...Running head: Marketing Mix Marketing Mix University of Phoenix Marketing Mix The marketing mix consists of the four P’s, which include product, place, price, and promotion. Marketing Teacher describes the marketing mix in a cake mix metaphor, “All cakes contain eggs, milk, flour, and sugar…However, you can alter the final cake by altering the amounts of mix elements contained in it. Further research also includes people and or physical process as additional P’s in the marketing mix. Marketing Mix by definition is, “having developed a strategy, a company must then decide which tactics will be most effective in achieving strategy goals. Tactical marketing involves creating a marketing mix of four components—product, price, place, promotion—that fulfills the strategy for the targeted set of customer needs” (Marketing Mix Planning, 2008) The first element of the marketing mix is the product. The product is the good or services that the business is trying to sell. When businesses are selling the product, they have to discover to which whom the product is going to target. “Having the right product for your target market (that’s the people or businesses you want to sell to) requires knowing what they need and want.” (Johannes, C. 1999). Research indicates that most businesses will conduct a test similar to the scientific method. The business first begins by gather information regarding their targeted audience. They do this by market research to observe and collect data regarding...
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