Creating the Marketing Mix 4

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Creating the Marketing Mix 4

Promotion is one of the elements of the marketing mix that aids in ensuring a product is presented to the consumers at the appropriate time as well as the right place. Promotion refers to strategies by a company to make customers aware of a product and its availability and to persuade and encourage them to use it. It is done through direct marketing, personal selling, public relations, advertising and sales promotion. In marketing the new mobile phone that is being developed by MM Company, advertising will be used to make customers aware of its existence and availability. It communicates to prospective customers about the product and its features. This will be done both within the local and international markets as needed. Different advertising methods will be used by the company such as the mass media, internet and social networks among others. Due to the period of time which MM Company has been out of the mobile phone market, it is a brilliant idea to mix up both traditional and digital advertising in order to attract customers from different markets.

The use of the internet and social markets will allow the company to access a broad range of potential buyers without any geographical barriers. The company can put digital banners on websites with high traffic in order for their users to view the details of the new product. Furthermore, the company may use social networks such as Facebook and Twitter to advertise the product. Due to the high number of individuals who use these sites daily, the product will get wide coverage, and MM Company can also engage with the interested individuals regarding the product. An example of advertising through Facebook is starting a page for the product and the company and inviting users to like it and then using the pages to advertise the product and communicate directly to the prospective customers. The use of the internet has both advantages and shortfalls.

One of the advantages is that the internet is a cost effective way of reaching many people across geographical regions. Once the initial cost of setting up the advertisement is met, the company can reach virtually everyone on the internet without any additional costs. In addition, it will also enable the new product to penetrate the international market, which is part of the marketing plan for MM Company. Internet advertising, therefore, enables the company to potentially reach many people at any particular time at a lower cost compared to traditional advertising methods. It is also fast as once the company puts up the information on the internet; it can be viewed and accessed immediately compared to other traditional methods. The disadvantage of the internet is that its audience is highly selective as it covers only the people who use the internet. This means that potential customers, not on the internet will not be aware of the existence of the product. It also exposes the company’s brand elements such as its trademark and logos to imitation by other people within the internet thereby jeopardizing the company’s success (Vurro, 2010). It is also quite difficult to gauge the effectiveness of the advertisement in reaching the prospective customers.

Traditional marketing methods such as use of the television and newspapers are more suitable for the domestic market to create awareness among the prospective customers. It includes the use of mediums such as television, newspapers and banners placed at strategic places. Use of popular television stations and newspapers enables the company to reach a large number of people within the domestic market. These methods have the advantage of reaching a large audience within the domestic market and enable the company to reach its target market. This can be done based on the timings of the advertisement as well as the channels which are chosen to carry the advertisement. For example, to reach the young adults and teen market, the company should advertise in channels that are popular with that age group. The use television and newspapers, therefore, have the advantage of reaching a wide audience within the domestic market as well allowing the company to select its specific target market. The major disadvantages of these advertising medias include the newspaper having a short shelf life as it is produced daily hence the company has to keep advertising to create awareness. The television also faces a challenge as most people generally skip commercials and hence may not get the full message intended by the advertiser. In addition, advertising in television and print media is quite expensive as the company pays per second on the television commercials while in print media, it depends on the page chosen and they cost is incurred regularly if the company wants to create an impact (Biagi, 2010).

MM Company should use a mix of the two advertising options in order to meet the largest possible audience. The print and television advertising medium will be extraordinarily useful within the domestic market which is the initial market of entry for the company. It will enable the company to have an impact in the local market prior to venturing in to the international one. The company can monitor its impact after advertising on sales and inquiries made on the new product. The ability to choose a specific market segment is also crucial in ensuring the company reaches the specific target market for its product making them aware of its existence. The internet will be used to supplement the advertising on these mediums and communicates further on the existence of the product and where it can be accessed. The combination of traditional marketing methods with the internet will allow the company to reap maximum benefits from both mediums and generate more sales.

References

Vurro, M. (2010). Critical Evaluation of Internet Advertising. Santa Cruz, CA: Grin Verlag Publishers.

Biagi, S. (2010). Media Impact: An Introduction to Mass Media. Boston, MA: Cengage Learning.