Surviving in the business world, in the contemporary world, calls for profound strategies in product marketing. An organization need to formulate the approach that will maintain its product at a competitive edge in the market. This will ensure that the company remains profitable even in situations when the market trend is unrelenting. Revitalizing the promotion and advertising the goods is a crucial factor to skyrocket the aptitude of a business in wooing the customers to prefer the company’s product to those of the competitors. The use on the internet in marketing and promoting products has witness upsurge and growth over the last few decades.
Marketing sales directly eliminates extra expenses on the products that are incurred from the retailers profit in the distribution channel. Therefore, when introducing a new product in the market, the producer needs to engage in direct advertising and selling of products. Direct marketing of products will also enable the producer to determine the market stability, competition, and the consumers taste for the products. This helps immensely in determining the approaches that the company may take in stepping up a campaign to secure a fairs share in the market compare to that of the competitors.
The new brand of cola needs to be introduced into the market at the right time, place and through the best possible means. According to Lorette, 2011, the first impression the customers and the potential consumers get from the introduction of the product plays a vital role in determining the market share for the product. Therefore, strategizing advertising and promotions approaches for the new brand of cola will need to be appropriately positioned in the market. The company should strive to win customers loyalty and establish brand equity in the market. However, this cannot be achieved without consideration of ethical principles that govern advertising new products. Violation of advertising ethics can lead to litigation and a condition where potential customers lose trust in the products authenticity (Mark, 2012). In such cases, the consequences would be lethal for the survival of the producer in the market.
Variables to consider in promoting new Cola brand
In designing a properly positioned marketing strategy, the producer has to consider a number of factors that are critical in new brand positioning. The Cola brand is expected fit in the current market full of varieties of soft drinks from different companies. Therefore, the potential customers must be convinced that the product is worth a try and ensure that customer loyalty is established.
The first variable that short be analyzed is the market trend. This will ensure that the brand being released will meet the taste and preferences of the targeted customers. Failure to understand the market will lead to crumbling of the brand upon introduction due to consumer rejection. Carrying out a meticulous research will reveal untapped, potential areas that the brand can build on in establishing a formidable position in the market. The new brand is targeted to be advertised among the young between 21 and 35 years of age. This bracket is hypothesized to comprise of the largest group of individuals that use soft drinks in the world. In advertising for this brand through the free offers, the strategy should focus on telling the customers the reasons why they need to buy the product. According to Lorette, 2011, advertising the products on information that the potential customers need to hear makes ease the marketing process. Customers will be going for the product that gives a solution to their quest. However, it should be made clear that the product has to meet these priorities or else violate ethics of advertising and marketing.
Analysis the completion forms the first variable that calls considerable evaluation before advertising and promotion campaign kickoff. This variable involves carrying out a detailed in-depth research that unearths the competitive abilities of the product. Companies producing soft drinks such as Pepsi and Coca Cola will have to be analyzed to determine their strategies on advertising, pricing and distribution. Therefore, the company will be in a better position to capitalize on the weak points of the competitors in wooing consumers to go for the new brand. Surviving the stiff competition in the market will be a paramount step in ensuring survival and profitability of the new product.
Lorette, 2011, identifies unique selling proposition as another paramount variable worth evaluation during marketing strategy campaign. The producer has to the unique feature that would be incorporated in the new cola brand, meeting the preference of the customers. Unique selling proposition are the factors distinct the new product from the already existing products in the market; thus, placing the value of the product at a better position in the customers ranking list. These properties of the brand are delivered from the market analysis results. Consumers will be looking at the advantages of the new product over those already in the market in order to arrive at an informed choice. Therefore, the new brand has to possess those properties that brand from the competitors lack.
In addition, the external forces need to be analyzed prior to the introduction of the product in the market place. Issues such as political trends in the expected areas for campaign, technological changes, and fashion should not be over looked. These factors constitute imperative variables in determining the success of the promotion campaign. For instance, technology may play a role in determining the accessibility and spread of information among the loyal consumers. Therefore, giving offer for promoting the new brand of Cola will need to evaluate the external environment that have a direct influence on the market trend. In addition, it is worth evaluating the Legislations, regulations and price controls related to soft drinks. This will ensure that the company does not fall into conflict with the government measures. For instance, there are regulations prohibiting the use of certain sources of sugars and ingredients in the products in the wake of safeguarding the public.
The promotion campaigned will be based on two approaches; push and pull strategies. Therefore, promotion strategies need to be evaluated to realize the best approach that will meet the company’s objectives. The pull strategies are aimed at ensuring that the product gains recognition among the targeted population. Pull strategies focus on a long term goal; hence have to be solidified in the company’s strategic plan. On the other hand, the push promotion strategies will be targeting to increase the number of sales at an upsurge rate. Many customers have to buy the product within a remarkably short time to enable the product establish a firm foundation in the market. In this connection, another variable that has to be evaluated in how to promote upsurge sales without resulting to product flooding, negative influence on brand value or even spread of the negative picture of the brand (Wayne, 2012).
Direct market campaign requires that the company adopts profitable approach in distributing the product. The means of distribution should be convenient and feasible enough to reach a large number of potential customers. This will ensure that ample customers get to experience the product expanding the market scales. The online promotion approaches should observe the online regulations on promotion.
Ethics in marketing and advertising
Advertising and marketing have forms of morally guidelines that determine what is right or wrong in the context of business. Principle of what is good or bad in a given context constitutes ethics. Ethics in advertising protects deformation of consumers’ rights and welfare. Observing the ethics in marketing will play a crucial role in building customers’ trust contributing reputable relationship and association of the customer and the public with the company. The crucial ethical principle on concern in promoting the new Cola brand include truthfulness in advertising, dignity of customers, honesty and fair play. Ethics can be analyzed into three broad categories (Boatrigh, 2006). The first category of advertising and marketing ethics involves product value related principle. The company should strive to maintain truthfulness in displaying characteristics of the product to the public. The adverts should communicate the exact characteristics of the product without additional false characteristics. This will help the customer to arrive at an informed choice with full knowledge of the product.
The second category of marketing ethics falls in the bracket of the stakeholder-oriented framework. The company is expected to separate its message from comparing its product with those of the competitors. The ads are also expected to communicate both the negative and the positive effects associated with the product. However, since this is a soft and safe drink, the associated risks are not beyond the normal life encounter risks. Lastly, ethic related to the process of advertising have to be considered and observed. The online advertising method has rules and principles governing the message context, advertising site, advertising charges and pricing process. Some of the ethics pitfalls that will have to be considered include issues over trust and honesty, taste and controversy, and negative advertisement (Mark, 2012).
The planning bench will develop the online ads in line with the code of ethics related to marketing. This will ensure promoting the brand will not tarnish the company’s name. In planning, the principle of the 4 Ps will be employed to ensure that the marketing the strategy will be highly effective. The first P stands for the description of the product (Schwerzerler, 2011). Adequate cash will be set aside for adverts that target to market the product properties and importance to the youth. Product description requires a truthful characteristic of the products.
The second P, in the model, used to ensure that the new Cola brand has established perfectly in the market is involved with place. Place is used to stand for the process and procedures involved in marketing the brand. Step will be taken to ensure that enough products are distributed to as many people as possible. This will enable the company to establish a strong ground in the market for the product. The company will also have to lay down profound strategies for warehousing, shipping of the products. The third P stand for pricing of the product (Schwerzerler, 2011). Since the product will be offered to the youth as an offer, the company will have to decide the best promoting price. To avoid heavy expenses during the promotion process, the a strategy where the targeted group will be advice to buy one and get one extra seems appropriate to market the products. Finally, the last P stand for promotion services to customers. The promotion services will be determined by effectiveness of the sound analysis of the variables.
In conclusion, the group will be reached using the most visited site, such as facebook, twitter and the official website of the company. The number variables to be assessed will target to promote products sales and secure solid base in the already flooded the market with soft drinks. The ethical considerations have to be deeply imbedded in all the ads used to promote the brand.
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