Marketing Mix
This paper focuses on the different promotional strategies used in selling a product, their benefits in achieving marketing objectives of international growth, and a conceptual overview of how market mixing help in changing the perception of consumers in brand promotion initiatives.
Question One
ATL (Above the Line) and BTL (Below the Line) means of advertisement are commonly used today, but consumers are not conversant with the terms. They came into actuality in 1954 under the Proctor and Gamble Company (Pulizzi, 2014). The terms of payment of publicizing agencies comprise disparate rates and supplementary organizations that took extra persuasive activities. ATL advertising is where mass media is used in advertising of marquesand, reaching out to the target clients. It includes the orthodox media such as the internet, television, print, and radio advertisement, targeting a wide range of consumers at the same time as the consumer audience (Rosenbloom, 2013).
Below the line (BTL) encompasses distribution of stickers, pamphlets, handbills, brochures, banners, placards, and promotions. Samplings and product demos are also used in residential multiplexes or malls. In rural areas, BTL makes the initiative of making direct touch with the consumers. It is because print media is limited in such areas. Additional activities include travelling hoardings with a placard of the product, allotting writings of the merchandise, and vehicles with qualified staff highlighting the product (Pulizzi, 2014). This form of advertising is more preferred because it uses less conservative means.
The companies involved may directly handle PR, direct mail promotional campaigns, and transactions preferment. These activities can also be handled by trades promotion interventions and PR agencies. Potential clients are also reached through telemarketing and email campaigns. If the nature of the introduced product prompts a one on one communication with the potential clients, companies prefer using BTL. Some individuals consider BTL and ATL antediluvian jargons in an epoch that utilizes the internet and precipitous speed vicissitudes in the ways of communication to stretch out to the purchaser.
A new trend has developed, TTL (Through the Line). It assimilates both BTL and ATL methods. Some companies still consider BTL as enormously significant; however, it is briskly becoming a classical form of attainment consumers since most individuals are espousing on Integrated Communication methodology (Blick, 2011).
Question Two
Infiniti partnered with Red Bull Racing and Sebastian Vettel for various reasons. Firstly, the union helped Infiniti to attain a platform with high visibility. It boosted the product promotion initiatives of the company, in that it was able to showcase its brand to new and emerging markets. The marketing platform was important in that, it easened communication between the firm and existing and potential customers. For instance, there was an opportunity to provide additional information about the brand (which was not readily available) (Forsyth, 2009). In turn, the consumers gained a deeper awareness, and it informed their pre-purchasing decisions.
The partnership enabled Infiniti car models to be recognized internationally since Red Bull Racing is an international affair (Rosenbloom, 2013). This increased brand awareness therefore influence individuals to buy the product. Globally, Infiniti obtained the platform of exposing its brand, since the cars have high performance, mileage, the car engine cc (Cubic centimeters), just to name a few. Formula one races attracts a lot of viewers having Sebastian Vettel race in one of the Infiniti cars, it would greatly influence the response of the viewers. This is in the sense that, individuals would want to experience the strength, luxury and speed of the car. The use of a popular person to advertise a product yields positive results. The use of social media will also play a role in the advertisement. The society holds the view that if a celebrity uses a particular product then it means the good is authentic there influences the rate at which the merchandise moves in the market.
There are numerous luxury car companies in the car like the Ferrari, Bugatti, Mercedes SLR, Lamborghini, and Infiniti came up with a thoughtful way of exposing itself and to be considered among these fine cars (Levitt, 2008). This way, it increases its market share in the superfluity car fair. Infinity had clear marketing objectives. The core aims of this car company included: improving its brand awareness and increasing its market share in prevailing and fresh markets. with the help of customers, media and prospective dealers, Infiniti emerged to be the sole sponsor and technical companion of Infiniti Red Bull Racing from 2013 (Levitt, 2008). Both Infiniti and Red Bull Racing have exhibited great results due to their merging. Brand Synergy is where the amalgamation of two trademarks gives rise to an even greater marque. The core values of Infiniti match up to those of Red Bull Racing.
Question Three
Market mixing plays an important role when influencing an offer of a brand. This includes all the four P’s: place, price, product and promotion. However, in 2012, new four P’s established are performance, processes, programs and people. Promotion involves all the undertakings involved in communication with potential clients in relation to the product, its features and benefits. This execution is after the price and product elements are finalized. Awareness creation is through various mediums to raise sales, generate, and nurture brand loyalty. To an already existing brand, promotion aids in increasing favorable bazaar share in the universal markets (Blick, 2011). Every company needs to come up with its own marketing mix that stabilizes the four Ps. Factors influencing the mix depend on the market research, type of product, the target market and competition.
The McDonald’s food chain industry is a good example that can be used to examine how the 4 Ps of marketing have been implemented (Forsyth, 2009). There is a branch of the food chain in Kuwait. McDonald’s emphasizes on development of exceptional menus that will fit in the customers’ preferences. They realize that individuals have a lot of disposable income hence they ensure that most of the consumers spend it in their industries. Though people’s needs changes overtime, McDonalds ensures that they capitalize on each opportunity that presents itself to them (Hutt & Speh, 2013).
When a product is launched in the market, it passes through five stages in relation to sales and time (Pulizzi, 2014). During the introduction phase, various forms of advertisement will be implemented so as to familiarize the company with the meals that will be offered. Different portfolios will be required at each developing stage. McDonald’s is trying to gain popularity in the market.
Conclusion
In consideration of the prices charged, a customer needs to feel the worth of the product he or she is purchasing. They set up their own fantasies of the meals and their value. A creation should have a psychological effect on clients. Competitors’ prices and the integrity of the brand are some of the considerable factors while setting up prices. In the marketing mix, place involves the administration of an assortment of developments convoluted in conveying foodstuffs to the end purchaser.
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