Volkswagen new print advertisement of Jetta is another masterpiece added to its kitty of innovation based advertisements. The german auto maker has proved that a celeb endorser is not necessary, but the products quality, engineered features and its unique presentation can do the needful. The German brand has tried to create active engagement by starting anything4jetta contest, where one has to tweet #anything4jetta with the answer to what you would do for an All new Jetta??. The campaign is not restricted to Print, it is also running parallel campaigns on Facebook as well. This will help in building a loyal customer base who are looking for high quality, exclusivity and luxury.INNOVATION BASED ADVERTISING
Volkswagen new print advertisement of Jetta is another masterpiece added to its kitty of innovation based advertisements. The german auto maker has proved that a celeb endorser is not necessary, but the products quality, engineered features and its unique presentation can do the needful. The German brand has tried to create active engagement by starting anything4jetta contest, where one has to tweet #anything4jetta with the answer to what you would do for an All new Jetta??. The campaign is not restricted to Print, it is also running parallel campaigns on Facebook as well. This will help in building a loyal customer base who are looking for high quality, exclusivity and luxury.
I ( can afford this) phone……….
Seems like the pot-shot advertisements are back with a bang and this time it is Micromax. It is an advertisement that talks about high prices of phones like Apple in the market. The cheeky advertisement is targeting the young customers with its sense of humour. The advertisement portrays the features of the mobile phone, which comes at an affordable price. This a nice way to get customers attention without doing much. In my opinion, it is clear example of smartness and efficiency.
HARRY POTTER IS HERE TO STAY
They were just kids in 1997 and now these kids have grown up and starting to fading out the limelight and the magical world. The brand Harry Potter has had intrinsic mental associations with its target audience, be it the magical world of Hogwarts, the wand, the breaking walls, good always wins over evil or just a touching story about a boy making big because he was “the chosen one”. This brand like any other is here to stay with its Potter more website to be launched recently. J.K Rowling venture for bringing about profound social engagement and commercial value to the brand will help the fanatics relive Harry Potter. This is a great idea that the writer has come up to maintain Brand Resonance. A new platform demands a lot of work, but if it proves to be successful, a brand community is here to stay like HOG( Harley Owners Group) of Harley DavidsonCREATIVE BRIEF
It is the discussion with the client side and the agency end. It gives the guideline to what they are looking for in an advertisement. It has the following components. Which are as follows:-· Objectives: - The objective the organization has in mind behind the whole advertising campaign E.g- To reposition the brand, to convey a certain message for their new product line etc.
· Competition: - Profiling of the competitors in the market having same product portfolio, studying their appeal, message tone, media vehicles used.
· Brand Personality : - It explains the characteristics which the company wants it to be. E.g.- If we talk about Harley Davidson its personality can be defined as rebel, freedom etc.
· Target Audience:- It explains the psychographics and demographics for the target audeince
· Geographic Segment- Catering to the (Tier- 1, 2, 3)
· Media Vehicles: - ( Print , Media, Radio , Outdoor etc)
· Budget: - It is only for creative execution
· Delivery time and line: - It includes the specifications as to how much time will an advertisement be aired.
· Time period: - It is the time period during which the advertisements has to be aired, printed etc
· Message tone: - The appeal of the message can be informational, emotional, humorous or elegance
Based on these components, the account executives brief the creative department and develop a message strategy on that accordingly.
CO BRANDING AND INGREDIENT BRANDING
Co Branding: - Brand Bundling is when two or more brands are sold together in some fashion. E.g. Gillette India jointly Promote Mach 3 Turbo systems. The main advantage of this is it may be convincingly positioned apart from virtue of multiple brands involved. It may generate great sales and may bring additional opportunities. The disadvantage in this lack of control if alignment of brand in the minds of the customer. A necessary condition both brands should have separate brand equity so that every brand should have their identity.
Ingredient Branding: - It creates brand equities for materials, products which are necessarily contained with the branded products.
PRICING
Product Line Pricing
The organizations generally develop more than one product under one product line in order to deo step pricing or separate pricing points which helps in having the range covering most of the market segment i.e. A shirt priced at 50, 200 and at500. Etc.
Optional Feature Pricing
Many companies offer optional product with the main product and thus charge for them for e.g. a car being offered with the power window. Steering etc will be charged as additional optional feature of pricing.
Captive Product Pricing: -
It is that some product requires use of captive products and thus a high price is charged for the captive product. E.g. Razors are sold but razor blades are generally expensive that is setting high markups and thus leads to captive product Pricing
SERVICE DIFFERENTIATION
- Ordering Ease:- online delievery
- Delivery:- This include speed, Accuracy and care attention. E.g. pizzas, film development, lexis quick response system with the information system of it’s suppliers and it’s clients.
- Installation: refers to making the work operational post sale of the equipment to the client.
- Customer Training: Training to customers like companies employees training to use new machinery.
- Customer Consulting:- Advice services that sellers offer to the buyers.
- Maintenance and Repair
INDUSTRIAL GOODS CLASSIFICATION
Industrial Goods Classification
Materials and parts it can be further classified into Raw materials and Manufactured Material and parts
Raw material are classified into
- Farm products:- Marketing intermediaries, transportation, assembly, grading , storage. It should have little advertising and and promotional activity with exceptions. There may be a case wherein the commodity groups might do campaigning
- Natural Products:- are limited in supply and is kind of hard on the end of producer to move a greatbulk and low unit resource to the user. Here in the user depends upon the long term supply, materials . Also, price and delievery reliability are the major factors influencing the selection of the supplier.
Manufactured Materials Parts are classified into
- Component materials: - the can be further fabricated into quick form . Price and Supplier reliability are the 2 important purchase factors.
- Component parts: - they enter into finished products and go through no further ```changes.
Capital Items: - They are the long lasting goods which facilitate developing and managing the finished product. They include 2 items that is Installations and Equipment
- Installations:- building , heavy equipment. Advertising is Little, Design for post sale and are usually bought directly from the Producer. Services
- Equipement: - Factory Equipment and tools They sell Direct more often there are rarely any intermediaries, market is geographically dispersed, buyers are numerous and orders are small. Quality, Feature and service are the main consideration.
CONSUMER GOODS CLASSIFICATION
Convenience goods
- Staples: Goods bought on Regular Basis
- Impulse: Goods bought without planning any search effort e.g. candy bars, potato chips
- Emergency goods:- These are the goods bought only when there is emergency.
Shopping goods: - Compared on the basis of suitability, quality, price, style. Homogenous shopping where the feature of the good is the same but the price is different and heterogeneous where services and features both are different and price is not really that important.
Speciality Goods: - Goods which have a unique brand identification where buyers make special effort to buy it.
Unsought Goods: - Goods which people do not generally think of buying. E.g. Smoke Detectors
LEVELS OF THE PRODUCT
The core or the basic benefit which u get from the actual product .
Basic product:- Core benefit derived from the product
Expected product:- A set of attributes bundled together for a product thinking that customers would be interested in buying the product.
The augmented benefit what all facilities in terms of installations, warranty and after sale services which are provided by the company to be a part of customer triad. But there is a case, that augmented benefit becomes a expected benefit on the part of the customer.
The potential product is the one which organizations keep on trying to satisfy its customers by distinguishing their offerings.
VASELINE USES A STATEMENT TO COMPREHEND
The latest advertising campaign of HUL via Facebook and print ad has made a mark in being unique and giving a standard reply to the Ex England captain Michael Vaughan. It an opportunity that HUL has capitalized on, they have picked on a controversial statement and used it as a awareness and comprehension quotient for their advertising campaign. The ad gives us a clear indication that advertisement can also be done by relating it to the topics that are of generic importance. This helps us in gathering attention of the target audience and spread awareness too.NICHE AND MASS MARKETING
Niche Marketing delas a particular set of Customer groups which means fewer customer and easier application of marketing mix because there are less people to target, and followed by advertisement and less of distribution Channels.
Mass marketing deals with selling products on a large scale before segmenting it into mass or niche you should have a proper knowledge of the market of what customer wants and would seeliing of your product in the market would possibly create demand so thus it includes three major steps knowledge , application and further analysis in terms of competitors because as a new company u need to see whether your competitors are not already following a marketing strategy which relates to proving the products at a discounted rate so the new company should think of some innovative marketing strategy because being a new company they cannot lower down their price.
MARKETING INFORMATION......CONTINUED
Internal Company records and Marketing Intelligence
Marketing managers basically rely on internal records of orders, sales, cost, inventory levels which thereby helps us is in spotting opportunities and problems.
The Order to payment Cycle
The heart of internal records is order to payment cycle. Sales representatives send orders to customers of the firm. The sales department presents invoices and generates other billing and shipping documents. So, today’s companies in order to improve the accuracy, efficiency and speed use of internet and extranet has increased so that timely delivery is done and customer only favors those who are fast and punctual in this work. E.g. Cisco connection online allowed the computer networking leader to connect with all its suppliers, manufacturers, distributors, retailers which helps in reduction of cycles and thus there is saving of money and faster dissemination of information.
Sales Information System
Sales information system is very important because it not only helps marketers know the current trend of sales. E.g. Wall mart kept an hourly update of every customer, store. It once saw that the east coast store sales were dropping, the marketing dept immediately contacted the store people and they found that the computers and monitors were not displayed so the customer was unaware about the posted price of the good. As, soon as the marketing department got to know about the problem they solved it by restarting the monitors and thus sales soon start to pick up. It means utilizing the information in order to understand the needs of the customer through required market information. The marketers also get the market related information from reliance world and Sify Way.
Databases, Data warehouse, Data Mining
In today scenario companies organize their information into databases like consumer database containing what he has bought, name address, demographics thus helps the company in determining what customer has the highest purchasing power to mail him the new offer and thus marketers are able to generate information and thus market their product.
Market Intelligence System
It is about how the mangers get to know about the recent Devt through newspaper, publications and internet, interaction with customers. Refer book.
It tells us the various sources through which the organization help in generating marketing information about the market and thus benefiting themselves
1 Motivate distributors, intermediaries, suppliers for passing on the intelligence
2 Networks Externally
3 Take advantages of Government Resources
4 Set up a customer advisory planning
5 Possible information from outside suppliers
6 Use online customer feedback for collecting competitive intelligence.
Creative advertisements : What not to do
Advertisements that will give you a mental workout
What do you think this print ad is trying to convey?
Does it help that the slogan is - The Bite of The Coffee?
This ad by Stella™ suffers from one of the most common mistakes advertisers make:
Decorating without Persuading
Graphic artists generally create a visual style and call it “branding.” This is fine if your product is related to fashion, is a fragrance, an attitude or a lifestyle, but God help you if you sell a service or a product that’s meant to perform.
You might be blown away by the beauty of the design and think that it represents you well. That it is the right mood for your product or service, and will help you generate some sales; But sorry to disappoint you, your bankers disagree.
Check out this advertisement -
Creative genius right?
Still while the viewers greatly commended the ad, they maintained that they would not buy the product unless the technical anomalies were rectified.
So this becomes an example of Involving without Persuading
The best ads cause customers to see themselves taking the action you desire. These ads deliver:
INVOLVEMENT & CLARITY
(A.) delivering a clear message.
(B.) explaining the benefit to the customer.
(C.) substantiating their claims,
All causing the customer to imagine themselves taking the desired action.
Do you believe the public has to like an ad for the ad to be effective?
MARKETING INFORMATION
Marketing information is all about observing the outside environment in order to know and gather as much information as you want which help us analyzing the fact what we gained during interaction with the customer thereby help in knowing the buying behavior, wants and preferences. Marketers help us in extensive consumption patterns over and across countries. E.g. Swiss consume most chocolates. Another problem arise is that organizations which do not have a marketing department for them Market Information system which consists of people, gather, sort , analyze, evaluate , distribute the need of customer through this information system. It relies on the following aspects: -
Internal Company records
Market Intelligence System
Market Research
NEW PRODUCT DEVELOPEMENT
It includes the following stages: -
Idea Generation: - it tells us the idea of a particular person about a particular product which may be relating to line filling or line pruning so that focus is made on specific projects or normally an idea to compete with the rivals in the market.
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| Source:- qsinnovations.com |
Idea Screening: - It is all about giving life to the idea in the form of some document or some Information of what it is all about.
Business Analysis: - It is all about whether the idea is feasible after careful marketing research and see whether the customer needs and wants are fulfilling the several aspects like political, economic and technological – can be the required technology needed for the product to be built which is actually being technologically advanced, social- issues relating to csr. It also does the SWOT of the product so to see that after careful evaluation of external factors we can predict the opportunity and threat for the product whereas the internal factor tells us about the strengths and weaknesses. It also focuses also on building strategic alternatives by matching an internal factor with an external factor which helps us in coming up with relative alternatives to support the main strategic objective. E.g. A company can match the internal factor flexibility with an external factor which is govt law which helps us in planning all the business processes according to the new law which would occur in the future time.
HIERARCHY OF EFFECT MODEL
It helps in defining how advertising works in different stages. There are subsequent objectives attached with each stage and has its own importance. It is said that it is not necessary that an organization has to start from the first stage, it depends on the brand penetration in the minds of the customer.
AWARENESS
“I AM PRESENT IN THE MARKET”
It is the first phase where you make your target audience aware about your brand. It is that step where the company provides the right brand knowledge so that a perception is generated. This helps in generating a requisite brand recall and brand recognition.
E.g.
Ford has been running for 6 years for producing the highest quality American cars, No one can make this statement.
Maruti SX4 (Associating it with men, it states that brand is inducing a relevance and building a strong mental association with the target audience)
COMPREHENSION
In this phase you convey the USP of the brand and define the Point of Parity and Point of Difference for the same.
E.g.
Rolce Royce latest print Ad of the new car “Ghost” is an example for Brand focusing on Comprehension and Awareness
CONVICTION
It is the stage where you reinforce your message to build a conviction for the customer who wants to buy your product.
E.g.
Helpage India, Max New York Life, Vodafone latest advertisement on Sharing Credits ( Banging on the inner desire and building conviction for the final purchase of the product.
ACTION
It is the last stage where advertisers announce a sales promotion campaign to make the target audience reach at the Point of Sale. It is done to increase the footfall and final purchase. Information has to be there to signify that why action is taking place.
E.g.
Wall Mart print Ads for conveying the discounts being put up, Beverly Hills polo Club announcing flat 40% discount on apparels and footwear.
“The major shortcoming is to measure the effectiveness, where the shortage of funds does the damage”
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