Advertising Market Marketing Plan
- Length: 8 pages
- Subject: Business - Advertising
- Type: Marketing Plan
- Paper: #42533895
Excerpt from Marketing Plan :
Companies use advertising plans to build awareness about their product. Company uses different plans to promote their sales. It uses trade show plan to demonstrate what they are selling, sales promotion plan for incremental sales, public relations plan for free ads, internet plan for instant distribution of product specifications and information, customer service plan to repeat sales, research plan to monitor activities regarding the products and customer satisfaction and last but not least marketing plan which helps to identify when to market, how to market and who are the target audience for the product (Luther, 2011).
Marketing plan must cover the below 12 areas to form an effective marketing plan to increase sales (Wong, 2010).
Marketing plan must have the executive summary
Introduction about the marketing plan and the product
Analysis of the market situation for the product.
Analysis of the target customers
Analysis of the competition for the product
Analysis of the financial requirement of plan
7. Product strategy
8. Pricing requirement of the product
9. Promotion strategy for the product
10. Strategy for distribution channels
11. Allocations and monitoring resources.
12. Conclusion of the marketing plan.
The development of internet is making more and more companies to choose to advertise on the internet. There are many online advertising types on the internet and each of them has different function, few can make good profit and few not. So it is important for advertising agencies and distributors to make good choices by evaluating the efficiency of the online advertisement. Online advertising has a unique advantage compared to other three traditional media such as radio, television, newspapers and outdoor advertising (Shi, Wang, Kou and Wallenius, 2011).
The most prominent and popular web-based alternative to television is YouTube. You can watch videos in YouTube at customers' leisure time and can share easily with others. According to web traffic-monitoring site alexa.com, YouTube is the third most visited site on the web. Unlike television channels, YouTube does not have a subscription or advertising revenue model (Sheehan, 2010).
Advertising of 2011 Lincoln MKZ Hybrid vehicle:
The advertisement[footnoteRef:2] of the Lincoln MKZ hybrid focuses more on the features of the vehicle, technology they have used and responsibility towards going green. It advertises its product with the tag line "It is not just luxury, it is smarter than that" and It positions itself in the market as the most fuel efficient vehicle in America. It gives 700 miles on a single tank of gas and 41 miles per gallon. It has a nickel-metal-hydride (NiMH) battery-powered electric motor with a 2.5 L. Atkinson-Cycle I-4 hybrid engines, providing combined 191 hp. The regenerative braking system helps to keep the battery charges. It recovers more than 90% of the braking energy normally loses through friction and sends it to the battery pack. It has LCD gauge cluster with colorful graphics, the dual cluster provides performance related information for the MKZ hybrid. [2: http://www.youtube.com/watch?v=IWhaxXtBC-I ]
It has adapted most advanced technology for its operations. It has Rain sensing wipers, voice activated navigation, Sync voice activated technology, keyless entry, six airbags, safety cage and Reverse sensing system.
Performance wise, the vehicle has Intelligent All Wheel Drive through which the power is automatically transferred to the wheels when the wheel slippage is anticipated. This provides the tighter grip on the road for improved handling. It has attractive 18" polished aluminum wheels, luxurious bridge of weir leather trimmed seats with cashmere colored contract piping, an interior aluminum trim package. It has capless fuel filler which has integrated spring-loaded flapper door which allows us to insert the fuel nozzle into the tank to fill up. No screw cap is required. The easy fuel automatically seals after the fuel nozzle is removed. It has electronic brake force distribution (EBD) which prevents wheels from locking during the hard braking conditions. When computer controlled sensors shows the wheel lockup during hard braking, the four channels Anti-lock brake system electronically pumps the brakes several times per second. This system helps in maintaining steering control.
The Lincoln targets the customers from middle class to high net worth individuals. Lincoln does not mention anything about the price in its advertisements as their intention is to attract the customers towards the products at the first place and they advertise to convince customers that the product is luxury. Any automobile company can increase their sales if they effectively market their product, especially when the product is a luxury not a necessity.
The marketing plan of any company depends on what company wants to accomplish for a particular part of business. The strategic marketing plan sets a direction to achieve the organizational goals. Most marketing plans are hybrid of tactics and strategy. It should define key marketing areas where the products and services should go to the intended markets and reach targeted customers. The tactical plan must explain how the marketing team will do the work. The combination of tactical and strategic plan results in comprehensive marketing plan. The goal of every marketing plan is to make sustainable profits through services, products and messages that are proven fit for their intended markets (Anselmo, 2010).
Advertisement of blackberry playbook:
It is a tablet computer developed by Research In Motion (RIM), the Canadian telecommunications company best known for the BlackBerry Smartphone. The product was released on 19th April 2011. It uses the ONX operating system which is the blackberry tablet operating system. The central processing unit is 1 GHz cortex-A9, storage capacity is 16.32 or 64 GB Flash, 7" LCD display and has 1080 HDMI output.
The company is advertising[footnoteRef:3] its products on internet to enjoy the benefits of online advertising with the tag line "The world's first professional-grade tablet." The advertisement speaks more about the features of blackberry playbook and conveys that message "Small enough to take anywhere, powerful enough to take you everywhere." The advertisement also says it is powerful, portable and playbook. The company targets everyone as it is a device which can be used by anyone in the family and the device is slim, attractive and has HDMI port through which the device can be connected to the TV or monitors. [3: http://www.youtube.com/watch?v=fIPcZoCmw1k ]
Currently RIM is advertising through television and online commercials that describe its new tablet as an "amplified BlackBerry." The TV spot focuses on the device's camera and places the emphasis on the tablet's ability to multitask and support flash. RIM must position the playbook as a solution to make most out of mobile enterprise applications and as a defense against the Apple and Android operating systems. Currently RIM is targeting enterprise professionals as well as every day consumers (Tsirulnik, 2011).
There has been a lot of excitement around the blackberry playbook before its introduction to the market on 19th April 2011. Playbook comes with the lower starting price and cheaper than ipad. It has its own operating system known as QNX, eventually they are planning to migrate to the blackberry Smartphone which will create a space for tablet-Smartphone communication to a level that has not yet been seen in the tablet market. The OS is considered to be "silky and smooth" and it promises to give the best multi-tasking tablet in the market. Playbook targets the business users as it is not still completely developed in regards to software and it does not have individual applications for calendars, email or contacts. But with regard to hardware, it gives solid performance (Moons, 2011).
Advertisement of Wii:
Wii[footnoteRef:4] is a home video game console released by Nintendo on 19th November 2006. It is a seventh generation console. It competes with Microsoft Xbox 360 and Sony Ericsson's Playstation 3. It has storage capacity of 512 MB and can connect through Wi-Fi, Bluetooth, LAN adapter and 2 xUSB 2.0(3). As of march 2011 the 86.01 million units shipped worldwide. It has IBM Power PC-based central processing unit. It provides online services through Nintendo Wi-Fi connection, Wii connect 24, Wii shop channel. It targets broader demographics compared to its competitors. [4: http://www.youtube.com/user/Wii?blend=1&ob=5 ]
Wii have used the technology to interact with one another instead of zoning out in front of their computers or TVs. Nintendo did the traditional "limited supply" thing to work up frenzied demand when they launched their Wii for Christmas 2006. They have made changes to their product by introducing an entirely different controller, a device that almost brings virtual reality into homes, no more memorizing buttons to make things move around the screen (Jackson, 2011).
As the technology is advanced the internet is used as an advertising outlet, whereas online advertising is growing rapidly nowadays. The annual growth of the online advertising is 20% which is 3 times faster than the whole advertising market. The main advantage of the online advertising is the advertisers will receive the detailed advertising report which shows when and where a user clicked on an advertisement. Though it has many benefits it is not dominating channel for marketing campaigns but it is a meaningful addition to their offline advertising efforts. Online advertising increases…