Nternational Marketing and Marketing Research
International Marketing and Marketing Research Compare the advertising campaigns (message, media, target audience… )which company may use a) to launch new product b) to support a long established product whose sales are slowly declining Introduction Due to new challenges which business organisations encounter in ever changing environment, the present marketing must focus on much more than creating new products or services. It is vital to price them attractively and make them available to increasing demands of customers at place where they require them.
However, an ffective marketing mix can be only successful only if all it parts take place One of the core aims of firms’ marketing departments nowadays is to give emphasis to communication with their customers. The communication is based on understanding people’s needs. The mission of marketing specialist is to create and design an unique sales promotion. Marketing communications is part of marketing mix. An important goal of advertising is to influence customers’ choices and buying decisions, which will lead to accomplishment of marketing plans of the firm.
Advertising has to be visible, clear, and easy to take in. Also, it has to identify the advertiser and their products or services. Marketers bring into play different advertising campaigns. during the ptoduct life cycle, product go through four different stages: introduction stage, growth stage, mature stage and declining stage. When the product is introduced for the first time in the market place, advertisement is aggressive; companies employ many means of direct and indirect marketing to promote it.
Mass media are used since there is only little knowledge about this product among customers. Introducing new consumer goods is so-called informative advertising. Its main objective is to build a primary demand. A strategic aim firms follow when promoting the product for the first time is to inform potential buyers about it and highlight its features which distinguish it from competitors. Furthermore, this will create awareness about the product and influence consumers’ perception. It also helps to build the firm’s brand.
In contrast, an advertisement of a new product is completely different from an advertisement of already established product, which has declining sales. Usually, these are products, which consumers have already known or used them and at some oint the sales curve start to decline. In this case, the promotion and advertising have marvellous impact to turn sales in opposite way. For example, the company offers some extra services. Furthermore, certain products can be offer with a complimentary product or discounts can take place. Price and non-price competition should be used at this point to keep the product at the market.
When the sales are declining the main aim of marketing advertising strategy is to remind consumers of the product or service. The campaign in this case is trying to boost sales and profits. Advertising campaigns vary. Firms can use a means of below and above the line marketing. below the line marketing include direct means of communication, most commonly direct mail and e-mail, often using highly targeted lists of names to maximize response rates and above the line embrace advertising such as television, cinema, radio, print, and Out-of-home to promote brands or convey a specific offer.
Literature review Advertising is non personal form of communication, presentation and promotion of consumer goods, which will lead to increasing the sales. The information about certain organization and its products is conveyed to potential buyers through mass edia, such as television, radio, newspapers, magazines, direct mail, public transport, outdoor displays, catalogues, internet. (Dibb, 2009) The main purpose of advertising is to inform or persuade members of particular audience about new products which will enter the market , or for the existence of promotions which will be appropriate for some costumers.
On the other hand , the main use of advertising embrace the promotion ot products or an organization in order to awareness among target consumer segment. The most important sides of advertisement are stimulation of demand, off settings of rivals’ advertising strategy, and to support elling drives. (Dibb, 2009) Also, advertising marketing strategy has to notify and educate a certain target market about a brand and its heightened marketing mix or product benefits(Dibb, 2009). Due to these facts, the general idea of all advertising campaigns is to enhance consumption of consumer goods.
Identifying the target market The target market is a specific group of people within the market at which the advertising message will be convoyed through the mass media. The target market or audience can be created from people from the same gender, age group, or based on other common features. Researchers attempt to understand the needs of certain target audience and this will lead to creating of marketing message that will make consumers to respond. The consumer feedback plays an important role in designing an advertising campaign.
Advertising budget The most difficult marketing decision is how much a company should spend on advertising. According to Kotler(2001), advertising budget usually is influenced by different stages of product life cycle. A product first appearance in the market place usually need higher advertising budget. The company in that stage has to emphasize n building awareness and to gain target consumers. Market shares also affect the budget, expanding the market share require higher advertising cost, on the other hand low share brands often have high advertising spending, which aim to increase sales.
Rivals have the main point when a company sets its advertising budget. Developing advertising strategy Consisting of successful advertising strategy depends on advertising message and selecting media. In advertising, different creative strategies are used in order to obtain consumer attention and provoke shoppers to purchase or use a specific product. Advertisers use different ways of thinking to create catchy slogans that capture consumers’ attention. Creative strategies promote publicity, public relations, personal selling and sales promotion.