Q1: There are numbers of aims of the promotional activities can be summarized in: introduce new products or services to the market which helps the consumers to define their need in order to fill it by purchase. In addition, by the promotional activities, the organization will increase the brand awareness in consumers mind, and make them more conscious about the brand and its products and services. Moreover, the organization wants the customer to have a good image of its brand, which leads to change the consumers attitude by let them choose their brand instead of others. When the category need and brand awareness is certain, and the brand attitude is appropriate, then they will decide to buy the product. So the organization must be ready. The …show more content…
It established in the U.S in 1989. Infiniti produces many kinds of luxury performance car, crossover, coupe and sport utility vehicles. Today, there is a strong competition in luxury cars market, so Infiniti ought to make innovative and creative strategies to survive in the market and it found that Formula One is such a strategy to create a global awareness of its brand. Furthermore, Infiniti needs a high visibility platform to display the brand by applying marketing platform, which in turn increases the awareness of brand and leads to purchase. Infiniti’s partnering with Sebastian Vettel and Red Bull Racing enable it to reach global scale. Moreover, F1 racing has a huge audience all over the world, so this would be a great chance for Infiniti to show its high performance cars and technology. Sebastian vettel in the youngest F1 car driver in the world, helped infiniti to design a new model of cars to show the strength of the brand and its capability. There are a set of marketing strategies can help to achieve targets and goals. Infinities objectives include increase its global brand awareness, enter new markets and increase its market shares in new and existing market. Then when market expended, Infiniti’s growth strategy will focus more on countries which have high-demand on the luxury cars, such as China. Today, Infiniti have 450 centers in 47 countries and its growth strategy will increase the range of product from 7 to at least 10 products in more than 70 markets. Infiniti aims to have more than 800 Centers by 2016, which will resolute in achieving 10% share of the luxury cars market. In order to achieve the pervious objectives, Infiniti needs to engage with many target groups as media, potential dealers and customers. The main element of Infiniti’s marketing strategy is about F1, as it was the main partner to Red Bull Racing, and announced that it will be a main
In conclusion, this essay has outlined the six key elements of the marketing process: (i) situational analysis; (ii) market research; (iii) establishing marketing objectives; (iv) identifying target markets; (v) developing marketing strategies; and (vi) implementation,
Companies across the world are determined to compete for the survival of their brands. The magnitude of success of the marketing and advertising strategies of a new or existing product is majorly depended upon the organization itself. As a matter of stated facts when an organization advertises its products in the market they first have to identify the relevant answers of some questions like what is the product aiming at? What benefits will the user seek by this product? How the organization plans to position itself within the market and what differential advantages will the product offer over the competitors. Because the bottom line of all marketing and advertising campaigns, is to provide the suitable collection of benefits to the end users of the product. Successful companies are usually recognized as iconic brands. Success of a
“Promotion refers to the advertising and selling part of marketing. It is how you let people know what you’ve got for sale. The purpose of promotion is to get people to understand what your product is, what they can use it for, and why they should want it.”
Promotion is a way company communicates messages on what the pruct does and what does the product can offer customers. It includes below elements:
During the last decade, Formula One Grand Prix races have attracted extensive media expo-sure, turning the event into an ideal platform for companies operating in the global market. The major branding opportunities, offered by Formula One teams have magnetised billions of sponsorship dollars.
Information to customer: - the main motive of promotion is to provide the necessary information to the customers regarding the product such as benefits or ingredients etc.
A successful company knows how to efficiently publicise its operation as well as its products to customers. Promotion consists of branding, advertising, PR, corporate identity, social media outreach, sales management, special offers and exhibitions. Promotion must attract customers ' attention, be interesting, include a coherent and appropriate message and show customers a reason why they should select its product rather than anyone else in the market.
Establishing a marketing plan involves several steps and requires questions that should be asked and answered while marketing the manufactured goods. It is time to develop and create a marketing plan for The Little Package to be Delivered, a for-profit company, and use this marketing plan to introduce the company’s branding and logo. Beginning with the marketing plan, expand on the intentions which are included in the vision and mission statements set up by management. Around the statements develop, if needed, a brand or logo for the products while highlighting the company’s cause-related marketing or CRM (Sandhya & Girija, 2011). At the same time, maintain the marketing strategies of the company’s strengths, weaknesses, opportunities, and threats or better known as SWOT (Penn 2011). Evaluation of the company will be needed so incorporate a method to establish the achievable means to obtain the campaign’s goals, vision and mission. A thorough examination of distinctive types of market processes will make for effective marketing plan and brand the products properly. This research should be a guide to comprehending how major and minor companies are effective in their marketing campaigns. Once the research is complete then begin to establish the marketing campaign.
For an organization to beat the competition, they need to understand what the consumer wants. Marketing concepts are based upon consideration on what the organization’s customers need and nourishing these needs better than the
The objective of marketing is to produce bottom-line results by increasing sales and high investment returns. Marketing campaigns establish long-term goals in pursuance of increasing the value of a brand over time while sales promotions set short-term goals as a means to sway consumers toward a particular brand. In order for a marketing strategy to be successful, awareness of the brand needs increasing as well as changing potential consumers attitude about a product, a company or services that are being offered. “Increased brand awareness is not only one of the most common marketing communication objectives; it is also typically the first for a new company.” (Kokemuller, 1). When advertising, identifying the target audience is one of the first things that need to be done. Identify the target audience through a channel of communication so the right customer is
The key objectives of Infiniti marketing strategy are to improve brand awareness and increase share in new and existing markets. In terms of market growth, Infiniti’s expansion strategy should focuses on countries where demand for luxury vehicles is high. To achieve its objectives Infiniti needed to engage with a range of target groups. A major part of its marketing strategy is formed around the exciting world of Formula One. Therefore, Infiniti made a partnership with Red Bull to introduce itself in the world of Formula One. This will enhance the Infiniti name and logo will also be expanded to new areas on the drivers’ overalls and team equipment. Also, Infiniti and Red Bull Racing will increase the global and market leverage of their partnership through more marketing and media activities throughout the
This assignment is about marketing, where I will produce a marketing strategy for a new or existing product. This unit introduces the major principle and functions of marketing; I will look on customer needs, and creating a suitable strategy or marketing mix, which will satisfy customer needs. In this unit I will experience the marketing process from carrying out initial research about a market, investigating the principles of functions of marketing and the way in which it contributes generating income/profit in a business. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
Promotion – Promotion means making customers aware about your products and introducing the customers with the benefits which they can get by buying their products. They can do advertisements, direct marketing and sales promotion for the promotion of the product.
However, due to its unique targeting strategy, it has not win compatible brand recognition among the public. Although Audi enter much earlier than BMW and Benz in the luxury car market, its marketing strategy limited increase of public brand recognition even Audi has over 100 years’ history. Besides, although its styles are highly accepted by the targeting customers, there are a growing number of people who can afford luxury cars for family use in China. Lack of vitality is limit of its further market expansion. On the contrary, its major competitor in China, BMW, has launched a series of marketing strategies to promote its high-performance, manoeuvrability, as well as stylish design to attract young people (BMW, 2009) in order to expand its market share. Therefore, although Audi has achieved success in the targeting market, it may consider further development through diversification in product line and advertising campaign.
Promotion is an aspect of the marketing mix that has great importance. In order for our product to be successful, the promotion we use will be very vital. This is because of the fact that the method of promotion we use for the product can help to differentiate our product from other products which makes it unique and outstanding amongst other brands. Moreover, using the right promotion can be used as a way to persuade consumers of our product that they made the right choice.