Marketing Strategy and Plan for Social Media - myassignmenthelp

Question: Discuss about theMarketing Strategy and Plan for Social Media. Answer: Introduction Marketing of products is essential especially towards the adoption of new ones. The firm is better placed to introduce the new product based on the fact that it has been existent and offered similar products. The report records of the individual interests explored in launching the product in as far as marketing is concerned. Marketing Strategy LP has several means that it can explore its marketing activities to ensure it reaches a considerable amount of people. In its marketing strategy, the firm shall explore several strategies within the market to ensure it reaches a significant population as it seeks to introduce the new product in the market. As a firm already in production of similar products, marketing the new brand would be easier given the methods and avenues that it is going to explore. Online Marketing The online market consists of several aspects where people can be reached through the official website, search engines, and the social media. The social media offers a large platform for developing marketing policies that arrive at a wide range of individuals. The social media remains open to a large group of people ranging from the youth, elderly, and across the social classes. The firm, through its Facebook, Twitter, and Instagram pages shall advertise the new products and run several ad campaigns therein challenging individuals to try the new product and register their replies to the same avenue (Cavusgil, Knight, Riesenberger, Rammal Rose, 2014). The links to the official website shall be created, where individuals shall contain more information and get a detailed analysis of the products. At the same time, short video clips advertising the new product and those of people giving opinion shall be aired to create awareness of the product. Besides, the firm shall explore the use of short advertisement on advert sites such as Youtube where the short clips shall exist. The clips shall be restricted to the regions where the viable market remains open to ensure a clear strategy of winning the market. Furthermore, the immediate company website shall be used to not only advertise the new product but also consider the existing products to create a link for the product thus increasing the consumption (Ritter, 2014). The online marketing provides several avenues that shall be instrumental in the well-being and creation of awareness for the product. Screening Advertising Screen Advertisement consists of a strategy where posters and short advertising are placed in strategic locations to create awareness of a new product in a market. The strategy is useful to the extent that it can be viewed by people on a daily basis and in places that catch the eye of the market (West, Ford Ibrahim, 2015). The firm shall use the public transport for its advertisement with a primary focus on the buses and trains connecting to the city and beyond. The firm shall create posters and small screens and seek permission to have them on the means of transport thus amassing broad awareness of the product. The power of advertising lies in the visibility of a product, and, thus would be a clear strategy towards having people tries the product. Marketing Partnership In todays competitive world, the option of partnership towards marketing remains inevitable, cost-effective, and largely advantageous. Partnership creates a way to grow, keep budgets low while acquiring new clients while reaching business targets. The firm shall use the partnership opportunities with companies such as Saatchi Saatchi as well as Doe Design to have its products marketed as they pursue the same market in growing their brand name. According to Momin, Neri, McCausland, Duke, Hansen, Kahende, Stewart (2014), the type of partnership increases the broad market acquisition while remaining cost-effective. The introduction of the Apple flavor of LP Company shall remain viable with the perfect combination of the above and other companies seeking to grow their names. Proper standards shall be placed to ensure the difficulties and competition from other firms does not affect the operation aspect of the partnership. Promotion Strategy LP plans to explore some activities in promoting its products to the market with a focus on the introduction of the new product. The apple flavor is the center of focus in the promotion where efforts shall be made to have people taste and experience the great taste of the product. In the first case, the firm shall explore the opportunities presented through the sports facility to enhance awareness of the product. In this case, it shall utilize the local sports events such as football, cricket, and rugby tournaments, where it shall partner with other firms in sponsoring the events while promoting its new brand to the market (Huet, Frail, Lake Snyder, 2015). Such populations are essential to the business as it forms the vast majority of the product consumers. For instance, the firm shall contribute a percentage of the total required for the tournament and thus have a direct permission to air their adverts and product within the locations. Since a considerable number of people take part either in game or audience to such events, the product would enjoy a sure marketing in the process. Sample Giveaways Product promotion entails having clients presented with a sample and experience the great taste while offering feedback to the same. In the spirit of marketing, the firm shall organize with selected stores a promotion program where people purchasing the companys product shall have the pleasure of receiving samples of the new product (Wolfe, Silmon, Plesko Miller, 2014). The move would attract people to purchase the product, and in any case, they fail to purchase, awareness would be created of the new product. Sample giveaways can also be done during sports events where people can answer questions concerning the firm and receive giveaways. The strategy is effective as it encourages a return purchase and product awareness to the target population. Price Discounting The strategy of discounting remains fundamental in marketing principles, as in attracts several sets of clients. The firm plans to provide a discount price on the new product either in a package or when sold as a single product. The discounting shall go on for a specified period sufficient enough to create awareness and a strong command for the product in the market. On the other hand, the firm shall offer such discount in selected stores and sporting events where considerable populations can feel the effect of the product thus encouraging repeat purchases and referral products (Hollensen, 2015). The discounting structure shall not only encourage people towards trying the product but also attract a new segment of consumers to the business. Product Bundling Bundling of goods is a superior strategy towards promoting the consumption and subsequent marketing of a product. Bundling can be done with other firms products while in other cases done with own company-related commodities. The apple flavor shall be bundled with other flavors offered by the firm and sold at a discount price to attract more clients while gaining the experience to the great taste. A 10 percent discount shall be introduced to the bundled products, where a special message introducing the new product shall be well labeled strategically to target the market. The strategy shall attract and encourage repeat purchases thus satisfying the core purpose of the marketing venture. Distribution Strategy Distribution refers to the process of ensuring products or services are available to the market in the desired proportion. Apportionment of a product determines the rate at which the market shall gain knowledge and develop an interest in a product. According to Eusebio (2017), the visibility of a product in several locations creates the notion and appetite to try a product and register the experience therein. The firm shall embrace a direct sales scenario to the immediate areas while employing indirect sales through marketing intermediaries. As a result, the firm shall decide to partner with the souvenir shops where a direct sale shall be done in locations within while expanding the distribution across the region (Gleghorn Harper, 2015). At the same time, the firm shall partner with large distribution firms to have their products reach a multitude of people. The firm shall have direct contacts with other wholesalers in the region to have the product replenished and advertised adequately in their respective locations. On the other hand, the company shall explore the option of value-added resellers who can buy products directly from them and bundle them up with their services or with other products before selling to the end user. In pushing the new product further, optimization of existing products shall occur where special bonuses and discounts shall be given to ensure the distributors promote the new product and increase its sales (McKinnon McKinnon, 2017). An assessment of the distribution channels shall be done where the most profitable ones will receive the largest batch of products (Gleghorn Harper, 2015). By using the largest firms and those with a high sales margin, the new product shall remain known to the market. Snack joints and school canteens shall receive distribution which is essential towards creating awareness and increasing the purchase of the present and new product. Selective distribution shall occur where the apple flavor shall be sold in combination with the rest in areas where consumption remains high. Selective distribution shall remain essential in ensuring products thrive in the market as opposed to placing them in locations with little sales (Rushton, Croucher Baker, 2014). The study shall allow for the election of exclusive stores to enjoy the product. Large distributors do not charge expensively as they offer reverse logistics essential in product flow (Grabara, Man, Kolcun, 2014). For the marketing period, a close management of the distribution channel shall exist to ensure it goes according to the plan. In the end, the firm shall provide a wide spread of the product in the market, thus accomplishing the marketing aspect of the apple flavor. Recommendation Marketing can be essential in promoting a product and introducing a new brand to the market. LP makes sure to have its marketing objectives, measurable, specific, and accurate towards delivering success. The primary focus should be on the new product with a specified target population. The marketing venture ensures the product reach the clients in the right market according to the forces of demand and supply. The firm needs to explore all the strategies but place a particular focus on the promotional strategies. The act of conducting road shows and advertising remains important and core steps towards introducing a new product. Thus, the focus is needed as well as the allocation of sufficient funds towards the venture. Sample and product giveaway is a sure way of having individuals get the experience of a product and thus drive interest and referral purchase to the apple flavor. References Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., Rose, E. L. (2014). International business. Pearson Australia. Eusebio, R. (2017). Marketing II. Marketing, 2018. Gleghorn, G. D., Harper, A. (2015). Logistics and Supply Chain Management and the Impact of Information Systems and Information Technology. In Technology, Innovation, and Enterprise Transformation (pp. 295-301). IGI Global. Grabara, J., Man, M., Kolcun, M. (2014). The benefits of reverse logistics. International Letters of Social and Humanistic Sciences, 15(2), 138-147. Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education. Huet, A. L., Frail, C. K., Lake, L. M., Snyder, M. E. (2015). 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