C 336 Integrated Marketing Communications 5 A Media Select on Strategies and Budgets Exposure Neverfail have used the following mediums to expose our target audience with our brand name: – Official Website – Print – Poster/Banner Ads on the side of our vehicles As we are planning to explore untapped markets, we plan to implement radio ads in these areas. Creative strategy Not sure whether we ” re considering to use a generic strategy or preemptive one (pg 274)? Our radio ad will depict a conversation between two people over a coffee break with the first person talking about the benefits and attributes of our mineral water. Communication Effects Communication is defined as “a process whereby individuals share meaning and establish a commonness of thought.” (Ship, 2002) Increase sales (set measurable targets eg 5% increase in sales from last year, but we must also take into this measurement the context of the market growth rate or lack of eg 1. 5 x market growth rate. ) Increase brand equity (remind consumers of brand / product attributes that competitors cannot match – such as distribution? ) Increase consumer evaluation (heighten this through reinforcing our great taste, and other good points our product has) As far as frequency or reach is concerned: recommended that we have advert 2 x per purchase cycle (but how frequent is purchase cycle for our product? weekly? ) this is beacuse any less than this is ineffective, 2 gives people time to take in the message. You either have lots of reach or lots of frequency, budget doesnt allow both.
The Business plan on Marketing and Communications Strategy: Hackney Empire Theatre
I. Introduction The dynamic nature of marketing strategy is not caused by its rapidly developing theories or its changing paradigms. It is caused by the fact that different environment requires different strategies. The difference between strategies could be very significant even though the markets are geographically located in the same region. Due to this dynamic nature, the study of marketing ...
I think we decided to have low reach but high frequency ie lots of radio ads. Target Market Actions With the communication strategies implemented, we seek to increase the probability of repurchase amongst our existing customers and create brand purchase in our untapped markets. We want our product to achieve top of mind awareness with our consumers whereby Neverfail is ranked first in our consumer’s mind when they seek to purchase mineral. Whilst enhancing brand loyalty amongst customers, we would like this group to increase word of mouth influence with their friends. This is done again with the strategy to amplify our product’s benefits and attributes. Annual Budgets With the additional costs incurred over the use of radio advertising, our advertising budget would increase by? ? % over the previous.
But this would correspond in an expected increase revenue of? ? %. We would project our revenue earned from operating activities at $XXXX X offset by the marketing costs incurred of $XXXX. Methods used Should we use percentage of sales (pg 250) or objective of task (pg 251)? I think objective and task method sounds right. Pls fill me in. These are the figures I have which may be useful 2003 2002 2001 2000 $ (000) $ (000) $ (000) $ (000) Revenue 69477 65909 56226 Marketing Costs 6034 5320 4775.
