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Task Four Unit Nine Coherent Marketing Mix Design Promotional Campaign for a given product/service to meet the needs of a given Campaign/Creative brief In this first section of my report, I have been asked to create my own promotional campaign for a selected product or service of my choice. For this task, I will be creating a promotional campaign for a new, unique aftershave that uses single fragrances (or a combination of two of more) that have not yet been used before in the market; also intending to patent this idea which will allow me to keep my USP (unique selling point). I will also be analysing how my promotional campaign will meet the needs of my given brief as well as suggesting any improvements that I feel could help to increase the effectiveness of my promotional campaign. After that, I will finally be looking at how I could change my promotional camping in order to meet a contrasting target market. The first step in creating my promotional campaign is to decide on what the objectives will be for my promotional campaign; I will have three main objectivise that I wish to achieve through my promotional campaign. My first objective would be to create a competitive product with a USP that no other rival business will have; this being the fragrances that no other business has used yet in the market. My second objective is to create customer loyalty; having customer loyalty will enable me to keep my customers and so that they will continue on to buy the products that my business designs and produces. My third and final objective is to make money from this promotional campaign; although this sounds very simple, by being able to make enough to pay back for all of the costs involved in this promotional campaign as well as the expenses to ship, design develop the product (etc) – also allowing me to continue on developing products with the money that has been made from this promotional campaign that can help lead to steady growth within my business. In addition to this, my marketing objectives are the following: achieve brand awareness so that within the first year 15% of my target audience will be able to recognise my brand name and my product. Since my product is a new product entering the market, I want it so that a certain percentage of my potential customers will be able to recognise my brand as well as my products as this will make it easier for me to sell my products to my target audience. My second marketing objective is to be able to build a relationship with my customers that will help to lead to customer loyalty. The reason for this is because customer loyalty helps for me to retain my customers and makes it more likely for them to buy my products rather than others. Lastly, my third and final marketing objective is to achieve a 10% market share within the Aftershave market. This is upon after looking at other aftershave products on the market; achieving a 10% market share is both a realistic target and will help me to compete more effectively against my competition. After deciding on what my objectives are, we move on to step two. Step two is where we look at who my promotional campaign will be aimed at. This is very important as products such as aftershave will only be aimed at a very specific target audience; this being teenage boys. Therefore, it is important to make sure that I have chosen the right target audience to advertise my product too as otherwise my product will not sell well with my target audience. So, my chosen target audience for this promotional campaign to be aimed at is teenage boys. The reason why I have aimed my promotional campaign at teenage boys is because they are the most likely to buy and use aftershave throughout their teenager years and therefore makes it a logical choice if I wish to sell my 1|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix aftershave. The reasons behind my choice are further explained in stage 5 in the ‘promotion’ section. Next, we come to stage 3. At this stage I have to decide on what I want the message to be that will be displayed and conversed through my promotional campaign to my chosen target audience. The message that I want to be able to converse to my target audience that states that you will smell better and it will help to better preserve your personal hygiene by using my aftershave. This should hopefully encourage my target audience to buy my product since teenage boys will care about their own personal hygiene and will want to maintain it as best as they can; by seeing that my product uses better, more preferable fragrances compared to other brands my target audience may feel compelled to buy my product rather than purchasing one of my rival products. After deciding upon my desired message, we move on to stage 4 whereby I will be deciding on my budget for my promotional campaign. At stage 4 I will be deciding upon on how much I am willing to spend on my costs during my promotional campaign; a budget allow me to work with pre-determined figures and will help to reduce the risk of over spending. First of all, the main bulk of my budget will be the advertising costs. My choices of media that I have decided to use for my promotional campaign are television, internet, radio and direct marketing. These four choices of media are what I feel will be able to best promote my target audience and also offer the most flexibility when trying to promote my product to my target audience. The total costs of advertising will come to £15,000 since this promotional methods are still expensive this was an expected figure; the costs breaking down into £2,000 for each promotional method. Other expenses such as the staff involved with creating this promotional campaign and designing the adverts for the promotional campaign will come too £5,000 This budget helps to give me an idea of how much I am willing to spend for my promotional campaign and to ensure that I don’t over spend. After this, we come to stage 5. Stage 5 is the promotional mix containing the 4 p’s. These are product, place, price and promotion. Below will be the marketing the mix that I have created. • Product – My product for this task will be an aftershave since this product has been proven already that it can be a fast (and strong) selling product that also has a very large target market. The name that I have chosen for my aftershave is “Bob’s Aftershave” and the colour of this product will be black. This aftershave will be aimed at teenage boys and will contain a fragrance similar to those found in deodorants such as Lynx and Right guard. The reason for this is because these types of fragrances are more commonly associated with boys and are also considered more masculine; by using these “masculine” fragrances, it will help to increase the popularity of my product which may also help me to sell my product due to the demand increase because of the popularity. Therefore, using these fragrances means that my aftershave will have a better chance of selling to my target audience which will help to increase both the businesses sales and profits; also increasing the likely hood of the product being successful over its life cycle. In addition to this, because my aftershave is being aimed at teenage boys I will not be making this an exclusive product as teenage boys are unlikely to travel to certain shops just to buy a particular aftershave. Therefore, I will be using stores such as Super Drug, Harrods, Boots and John Lewis as these and general stores that are easily 2|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix accessible to my chosen target audience which also makes it more liable to sell since these stores will often be local or near too my target audience. The reason why this product is relevant to my chosen target audience (teenage boys) is because aftershave is widely used by teenage boys from all over the world and has already been proven to be a strong selling product that many teenage boys would want to buy. Therefore, by choosing a product that is already widely used by my target audience (as well as already having a high popularity rating) this will increase the chances that I have of selling my aftershave to my target audience. Moreover, this product is also seen as a necessity as well as a luxury as teenage boys will care about their appearance and how they smell and will therefore by products such as aftershave since they help to maintain personal hygiene. In addition to this, the reason why I have aimed this product at teenage boys is they start growing facial hair after hitting puberty (puberty occurring from the ages of 9 between 14) and so they will use this product after they are done shaving. Therefore, the logical option is to target teenage boys. • Place – Due to deciding that my aftershave will be a non-exclusive product my aftershave can be found in an array of different cosmetic stores. For example, my product will be found at stores such as Boots, Super-Drug, John Lewis and Harrods. The reason behind my chosen locations is because these all already well-known and major cosmetic stores which are easily findable and accessible for my chosen target audience. Therefore, this will help to increase the availability of my aftershave since it will help to broaden the areas in which my product will be sold at. The reason why my chosen locations whereby my product will be sold are relevant to my chosen target audience is because aftershave can already be purchased from these stores. Therefore, although I would be competing against my rivals, it is still the logical choice since my target audience already know they can purchase aftershave from these stores which makes it easier for me when I’m trying to sell my product to my target audience. Furthermore, these stores are widely known for the selling of luxury items such as deodorant, toothbrushes, toothpaste, aftershave, etc. Therefore, these stores make ideal and prime locations for me to sell my aftershave to my chosen, target audience. • Price – When it comes down to the price of my product, I will need to consider a few factors. The first factor I will need to consider is how much it will cost as if it is too expensive then my target audience will be put-off from buying and may end up buying my rivals product and if it is too cheap, it might be seen as an aftershave with an inferior quality compared to some of the other, well known brands. Furthermore, I will also need to make sure that my price is also competitive against other big label brands too as my product will need to compete against the competition if I want it to sel. Therefore, by putting the price a few pounds (£) lower than the big label brands, this will ensure I have a competitive price and will help to increase the chances of my product selling as we well as selling better than my competition. The next factor I will also consider is the psychological side. This is because if a customer sees too prices (both prices are on the same product), one being £1.99 and the other being £2.00, 99% of people will buy the product that has the price of label of £1.99. This is because when we go and shop, we often want the best deal and what is convenient for us. So, if you are quickly choosing a product and see that the same product has a label of £1.99 instead of £2.00 we will automatically think we are getting a good deal and saving money and therefore, we will pick the price that is only 3|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix one penny less than the other. Therefore, by using this information this will help my price to become more competitive since my target audience may be more likely to buy my product if it is seen as a slightly cheaper price than my rivals. Other factors such as introductory pricing and price skimming will also have to be considered. Introductory pricing is where for the first few weeks the product is reduced by 10, 20 or 50% and the price will then go back up to it’s original, base price. This is a tactic used throughout the business world as if the product is successful enough then your target audience will already like the product and will continue to buy it. So, if the product is favoured enough by your target audience, when the price goes back up to the base price your customers will still continue to buy the product. I intend to use this tactic as for the first few weeks I can use my reduced price scheme to help generate interest in my product throughout my target audience. So, one the price is returned to its base price, my audience should already have interest in my product and will continue to buy it even when the price returns to its original value. Lastly, I will also have to consider price skimming. Price skimming is where if the product is new on the market (and also exclusive) you can charge as much as you like for it. However, after a wile other firms will start to bring out products similar to the one you originally brought out to begin with, therefore pushing the price down and making the price non-exclusive. Although my product will not be an exclusive product, if I was to use fragrances (or a combination of fragrances) that no other company has used, this will help to give my product a USP (unique selling point) which may become more preferable with my chosen target audience. This would mean that my product will have a competitive edge since no other companies will use the same fragrances that are used within my product. If this unique fragrance is shown to be a more preferred fragrance within boys compared to my competitors, this would suggest that I would be able to sell more (which would also increase stock turn) as well as helping to increase my net profit. So, after considering all of these factors I have decided to set the base price of my aftershave as £49.99. However, I will also reduce It by 50% for the first two weeks to help my product sell faster and to become a bigger success with my target audience. After those first two weeks are up, the price of the product will go up to its base price. Furthermore, I will create a patent on my USP so other companies will not be able to use the same fragrances that I use within my product; however, the patent will only last a certain a period of time and once the patent has expired other business are free to use the same fragrances that I have used. The reason why this is relevant to my chosen target audience is because I have looked at the different stores such as Boots and Superdrug whom sell Aftershave. Therefore, by looking at my competitors prices I can set my own, competitive price for my aftershave which can help to give me an edge over my rivals that could potentially lead to more of my target audience buying my product. As we can see, I have a list of different aftershaves that are sold by different stores along with their different prices. Upon looking at these prices I think my price of £49.00 is fairly reasonable since it is 4|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix still a price that my target audience would be able to afford; this price also being able to keep my price competitive against my competition.1 • Promotion – Lastly we come to promotion. In order to promote my product to teenage boys I will use television to promote my aftershave. The reason why I will use this as my promotional method for my product is because first of all, by advertising on the television (and although it can be very expensive to do so) I will be able to reach my target audience with my advertisements quicker and better as I will be able to select certain channels, programmes and times in which my advertisement will be shown. This gives me some flexibility when promoting and the chances of effectively reaching and promoting to my target audience will be increased. For advertising on the television, I will choose to promote my products through a channel called Dave. Dave will show programmes such as Top Gear, Mock of the Week and Have I got news for you will be just some of the programmes I will chose to place my advertisements. As for times, I will chose a time in which the majority of teenage boys are likely to be home watching television. This would between 4:00pm and 9:00pm since this will be after school/college has finished for them and are more likely to see my advertisement. The reason why I have chosen the channel and programmes to advertise on is because these programmes are watched my mostly teenagers and men, therefore, giving me a better chance for my advertisement to be seen by my chosen target audience. Furthermore, using radio advertising will allow me to advertise on either a local or regional basis. For my business, I will chose to advertise on a regional basis since I am more likely to reach my target audience; giving me flexibility as I will be able to choose different radio stations to advertise on as well as at what time my advert will be show. Again, this gives me flexibility when promoting to my target audience since I can freely choose what radio station I want to advertise on and at what time, allowing me the best chances of getting my advertisement to relay its message to my target audience since I am able to target a radio station that my target audience would be listening too. I will be advertising on BBC Radio 2, Heart and Kiss and for the times, I will advertise during the mornings (from 7:45am to 10:00am) and later during the day between 3:00pm and 5:00pm. The reason why I have chosen these radio stations is because these are well known and popular radio 1 http://www.thefragranceshop.co.uk/Top10ForHim.aspx 5|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix stations within the UK that are likely to be heard during the morning when teenagers are traveling to school and when they are traveling home from school. Moreover, I will also be using direct marketing. The reason I will be using direct marketing is because this enables me to directly advertise to my customers. This could be getting them to sign up to a weekly newsgroup whereby they would receive the latest offers and deals on my newest products. By doing so, this enables to create a relationship between my business and the customer which helps to increase customer and brand loyalty. In addition to this, I can also tailor my advertisements to fit each individual customer as by tracking their browser history I am able to advertise different products directly to them that they are more likely to buy. After stage 5 we come to stage 6. Stage 6 is where we look at the time frame allocated to my promotional campaign. One of the main things I will have to consider is that the longer I run my promotional campaign then the more money I will be spending on it; this could lead to massively over-spending on the promotional campaign and marking it as a failure as the end result may not be worth what it cost to create and run the promotional campaign itself. Therefore, I have decided that my promotional campaign will last for four weeks. Four weeks is a period of time that I believe will be an adequate length to run my promotional campaign at. Since I don’t want to overspend on my promotional campaign and to avoid my running costs increasing further, I believe 4 weeks will be a suitable length of time that will enable me to successfully get my message across to my target audience as well as ensuring I get enough money back to pay for my expenses and so that I can continue on developing other new products for the future. Lastly, we come to the final stage. In this stage (stage 7) I will be evaluating how my promotional campaign went. To evaluate my campaign, I will be referring back to my three, main objectives that I set for this promotional campaign at the start of this report. For my first objective, I stated that I wanted to create and sell a product that has a unique selling point (USP). Like I have previously mentioned during the product stage within my marketing mix, I created an aftershave that used fragrances (or a combination of fragrances) that no other competing business in the market used. I felt that my USP worked well since it uses unique fragrances that no other business on the market uses. Therefore, I was able to successful meet this objective. In addition to this, having my USP patented on my product enabled me to have a competitive edge against my rival businesses that helped to increase the chances of my product selling. Therefore, by being able to sell more (and even to sell more than my competitors) this will enable me to continue on making money and developing other products in the future; also enabling me to dominate the market. After that, we come to my second objective which is to generate enough interest in my product to help achieve customer loyalty. I felt as though I had successful met this objective since after using my two main, male celebrities within my advertisements, this was able to generate a significant amount of interest in my product which lead to my target audience buying my product. Since these male celebrities have been seen my target audience as to using my aftershave, this helps to increase customer loyalty as my target audience will continue on using my aftershave since they have associated my product being used by these male celebrities (this can be referred back to the promotion section within my marketing mix). With customer loyalty established, this helps to ensure that when I produce further products in the future, they are more likely to buy and stick to my products rather than purchasing products from my competitors. 6|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix Lastly, my third and final objective is to make money. After my promotional campaign, I saw it as a success as I will successfully able to generate enough money that would pay of all of my expenses; my expenses being advertising costs, development costs, etc. Furthermore, after paying back my expenses I still had a large, final net figure after my promotional campaign that helps to further emphasise the effectiveness and successfulness of my promotional campaign. Because of my promotional campaign helping me to generate a lot more cash, I can use this cash to start developing other products that my customers may want to buy which effectively helps to strengthen my portfolio. With a bigger portfolio I am able to continue on selling more which will also help to steadily grow my business while dominating more of the market.2 In the next section below I will be analysing why my promotional campaign meets the need of my given brief as well as suggesting improvements. M3: Analyse how your promotional campaign meets the needs of the given brief and make recommendations for how the campaign can be improved To begin with, the reason why I have decided to create a new aftershave that uses both single fragrances as well as a combination of different fragrances is because aftershave has already been proven to be a successful product within the market that can sell well and also has a large customer base. In addition to this, I have also used fragrances before that are not currently used on the market. By using them, this will give my product a USP (unique selling point) that helps to give me an competitive advantage since my product uses something that my rivals do not use in their own products. My first marketing objective stated that I want to achieve brand awareness within my first year of operating so that 15% of my audience will recognise my brand and the products that I sell. This is an important objective since the more people that recognise my brand, corporate colours and logos (etc) then I am likely to see an increase in sales due to more of my customers recognising my brand and then buying my products. Furthermore, the reason why I decided upon achieving 15% brand awareness within the first year is because I need to look at an realistic time-scale and how long a new business (such as myself) would be able to achieve brand awareness within their first year of operating and by how bigger of a percentage that could also achieve within the first year. Therefore, I decided that 15% is a realistic percentage for me to achieve within my first year since that would mean that 1 quarter of my customers would know about the products I sell and would also be able to recognise my brand. In addition to this, the reason why I also set this as one of my marketing objectives is because brand awareness will also help to increase customer loyalty as well; helping to increase my revenue as well as helping me to survive my first year of operating. To help me achieve my first marketing objective, I have used promotional methods such as internet, radio and direct marketing. Internet advertising is very effective since I am able to create creative advertisements that are able to grab my customers attention which would get them to notice my add and potential click on it. Furthermore, I can also tailor my advertisements to individual customers by tracking their browsing cookies. By doing so, I can offer them products and deals that 2 http://www.bized.co.uk/educators/16-19/business/marketing/lesson/campaign.htm 7|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix they are more likely to buy. Since millions of my target audience will use the internet, this is the perfect opportunity for me to promote by brand and products to my target audience. This will help to increase my brand awareness since millions of my target audience have the potential to view my brand. In addition to this, radio advertising gives me the opportunity to tell my target audience where they can find my business (both on the high street and online) which will help to generate interest in both my brand and the products that I sell. By doing so, I would have people remembering my brand and my brand name since they have actively searched for the products that I sell; also helping to increase my brand awareness since I would have more people remembering and recognizing my brand which also increases the potential for an increase in sales. This then brings us on to my second marketing objective. My second marketing objective stated that I want to be able to build a relationship with my customers that can help to lead to an increase in both customer and brand loyalty. The reason for this is because customer loyalty helps for me to retain my customers and for them to stick to by my brand rather than buying products from other companies. By creating a relationship with my customers, this will mean they are more likely to continue on buying products from by business since they trust and recognise my brand; also helping to increase brand loyalty since they are also more likely to stick to my brand when buying aftershave rather than buying aftershave from a different brand. By having this relationship with my customers as well as customer and brand loyalty, this will help to ensure that I am able to retain the customers that I gain throughout my first year. By doing so, I will be able to steadily grow my customer base and the further it grows then the more money I would be able to generate. In order for me to do this, within my promotional campaign I stated that I was using direct marketing as one of my promotional methods. This will help to create the base of the relationship between my brand and my customer since direct marketing is where I would directly advertise to each individual customer. The most effective way of doing so is by sending regular emails about my business and the latest products and deal that I have to offer. By doing so, I am able to build a strong relationship with my customers since they now trust me to send them the latest information about my business such as any new products I am developing (or have developed) as well as any deals I have on offer. By having this relationship established, this will then help to increase brand and customer loyalty. Lastly, my third and final marketing objective is to achieve a 10% market share within the Aftershave market. This is upon after looking at other aftershave products on the market; achieving a 10% market share is both a realistic target and will help me to compete more effectively against my competition. The reason why I have chosen to achieve a 10% market share within my first year of operating is because a 10% market share will help to become more competitive. This is because other businesses that create and sell aftershave have a similar market share to that of what I want to achieve within the first year. By having a 10% market share, it will mean that I am able to keep on getting generating profit from every product I sell and would also mean that my customers are becoming my loyal to my brand; both of which will help me to survive the first that I started my operations in. A 10% market share would also mean that a decent proportion of my target audience would be able to recognise my brand at the end of the year as well. After achieving a 10% market share after the first year, I can then continue on to increase it further throughout the following years. By doing so, after 7 or 8 years I could have the potential to become the market leader for aftershave. This would then mean I would have a very large customer base and that 95% of my customers would be able to recognise my product and would go to my brand first rather than my 8|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix rivals. Therefore, achieving a 10% market share at the end of my first year is vital if I want to continue on to become the market leader. In addition to this, there are also two improvements that I suggest that could help to improve my promotional campaign. My two improvements would be to use celebrity endorsements and programme sponsorships. I have chosen celebrities to promote these products as celebrities such as Liam Nesson and Brad Pitt are popular role models for teenage boys. So, if they see their role model wearing their aftershave they are likely to follow suit and purchase and wear the aftershave as well. In addition to this, my product will come in its own packaging which will be a black box with the brand name on the top and for the insides to be lined with foam (to protect the contents). The reason why this is relevant is because I will need to choose a television programme that is watched by mainly men and teenage boys. Therefore, this makes Top Gear a prime television programme (shown on Dave) as it is watched by men and teenage boys. In addition to this, by using celebrities such as Professor Green and David Beckham, these teenagers will see them promoting my product and they can be influenced by their role model to go out and by that aftershave (The table above shows the percentage of men and woman that watch Top Gear, etc). The reason why this is relevant to my chosen target audience is because firstly, Top Gear is a programme that has millions of viewers tuning in to watch their show every week – the audience watching being mostly teenage boys or men. Therefore, it is a logical option by choosing this programme to advertise to since my chosen target audience is very likely to be watching this programme. Therefore, my advertisements are more likely to be seen; also helping to generate interest in my product as well. In addition to this, the reason why I have used these two different male celebrities is because they are more likely to be either role models teenage boys look up to or are generally interested in there. Therefore, if they see their favourite celebrities wearing my new aftershave, it is likely that they may copy what they see in my advert and go and by my product; making it a very effective method of promotion. Furthermore, by being able to sponsor Top Gear, this will help to majorly increase my brand awareness since Top Gear has millions of viewers that watch the show each week. Therefore (and seeing as my target audience are very likely to watch the show) it is very likely that millions of my target audience will see my brand; the longer I sponsor Top Gear then the more likely it will be for them to recognise my brand, logo, etc.3 4 3 http://www.immediate.co.uk/advertising/magazines/top_gear.html 4 http://happinessweekly.org/2012/09/23/male-role-models-celebrity-men-you-should-look-up-to/ 9|Page By Robert Bowry Task Four Unit Nine Coherent Marketing Mix However, the one thing I need to consider is the price. The reason for this is because sponsoring Top Gear (as well as using celerity endorsements) will be very costly and being a new business I will need to calculate if I will be able to afford to use these promotional methods; also being careful to make sure I do not over spend on m budget. D1 – Change your promotional campaign to meet the needs of a creative brief for the same product/ service but for a contrasting target market My coherent marketing mix that is displayed above is for a new, competitive aftershave that is aimed at teenage boys. However, for this next part of my task I will be evaluating what changes would be needed in order for my marketing mix to change if I was to change my target audience. So, if I was to change my target audience from teenage boys to teenage girls there will be a few factors of my marketing mix I would need to change. The first two main factors would be the scent of the perfume and the packaging. First of all, I will use scents containing fruit (strawberry’s, lemons, lime, etc) and also other scents such as chemicals (that are not harmful) that replicate that chemicals found within our body. This makes the perfume more feminine as these are the kind of fragrances commonly found in teenage girls perfume; increasing the chances of my perfume being successful with teenage girls. The print screen above5 talks about a study that has been conducted that has shown that women prefer fragrances that “mimic” their immune system. What this means is that the chemicals found within our bodies can be used to create a scent that women like and would buy if the perfume was to use these different chemicals. So, from looking at this study I would be making sure that my perfume where to contain these chemicals in my perfume which would help it to sell and also to help it become more popular. In addition to the product being more feminine, I will also be changing the packaging too. Instead of black and other dark colours I will use lighter colours such as pink, bright red and blue. This will also make the product more appealing as studies have shown the 5 http://phys.org/news/2013-01-women-perfumes-mimic-immune-cells.html 10 | P a g e By Robert Bowry Task Four Unit Nine Coherent Marketing Mix teenage girls are attracted to brighter colours. Therefore, colours such as blue and pink are more obvious colour choices now that I am targeting teenage girls rather than teenage boys. Some of the pictures above will be ideas to as what my perfume should be like as well as some of the colours I may use to help design my own product: Lastly, I will also need to tweak my promotional method. Like I have previously mentioned in my improvements, to improve my promotional campaign I have decided that for this target market I will use female celebrity endorsements; however I will need to change the celebrities used within the television advertisements for males to females since my female audience are more likely to look up to and relate to a female celebrity rather than a male one. This is because teenage girls can associate themselves better with female celebrities. So, changing my celebrities from Liam Nesson and Brad Pitt to female celebrities such as Angelina Jolie and J.K. Rowling will be used as my new target audience could associate themselves with these celebrities. Therefore, this increases the chances of my perfume selling well with teenage girls. From looking at a list of female role models online, I have found the two celebrities that I intend to use to help me promote my perfume to my chosen target audience. These two women are looked up to my many teenage girls and so when I create an advertisement using these to public figures, they can help influence my chosen target audience to the perfume that I am selling. 6 7 Furthermore, the time scale and the budget will stay the same since they do not need to be changed and already fit my new target market. However, for my promotional methods, rather than using the television to advertise my product to my target audience, I shall be using forms of social media (both Facebook and Twitter) as it has been found that there is a higher percentage of females that use social media sites when in comparison with boys; on page 13 I go through this in more detail. Moreover I will also 6 http://news.xinhuanet.com/english2010/photo/2010-07/18/c_13402854_2.htm 7 http://royal.pingdom.com/2009/11/27/study-males-vs-females-in-social-networks/ (8) http://news.xinhuanet.com/english2010/photo/2010-07/18/c_13402854_2.htm 11 | P a g e By Robert Bowry Task Four Unit Nine Coherent Marketing Mix still using the radio and direct marketing as my promotional methods since they are effective promotional methods as well as being able to be tailored to fit my new target audience. For the radio, I will be changing stations. Instead of using BBC Radio 2, Heart and Kiss I will be using BBC Radio 4, BBC Radio 1 and Capital FM. I will however continue to use the same times as before which is 7:45am to 10:00am. The reason why I am using these three new radio stations is because they are some of the most popular radio stations within the UK – BBC radio 4 receiving 11,205,000 listeners each week, BBC Radio 1 receiving 10,969,000 listeners each week and Capital FM receiving 2,156,000 listeners each week.8 In addition to this, the reason why I have chosen these times is because 70% of secondary students drive to school in the UK and the normal starting time is around 8:30am and so having my advertisement between 7:45am and 10:00am will greatly increase my chances of my female listeners listening to my advertisement as they are drive (or are driven) to school. This is also not taking into account podcasts and these radio stations being accessed on portable devices as they walk to school too as there will also be members of my female target audience that will listen to the radio as they walk to school.9 Moreover, for direct marketing I will use a cloned mailing list. A cloned mailing list is where it evaluates your current consumer profile to see what characteristics your current consumers have such as attitudes, demographics, purchase patters and interests and will then scan Consumer-ViewSM databases and find a similar, alternate consumer base. This will work well for me since the main difference between my consumers will be their gender as well helping my direct marketing to be more effective and accurate. Rather than getting my female target audience to sing up to weekly news groups, it is very likely that a large majority of my female target audience has already signed up to various newsgroups, websites beforehand and therefore, by using an SM database I will be able to gather and collate (for example) emails of my female target audience and then use their email addresses to send them the latest offers and promotions of my perfume. In addition to this, my marketing mix will also change; I have gone through this in more detail at the start of D1. I have decided that for this target market I will use different forms of social media (using both Facebook and Twitter – this being a form of internet marketing) to reach female teenagers; this is because more female teenagers use social media sites such as Facebook than men do. Social media sites are very effective at promoting different products that businesses sell. The reason for this is because you are able to directly advertise to a certain target market on Facebook by narrowing down the type of people you want to reach. For example, when I use Facebook and Twitter to advertise to my new target market, I will choose 14-18 year old girls and pick a location (Essex), country (England). This will then give me a very specific target market that my advertisements would be shown to; thus making it a very effective promotional method since I am able to easily target my female target audience by using Facebook and Twitter as a means to advertise my brand and products on. The cost of advertising on Facebook can vary depending on the size and for how long you intend on advertising on Facebook for. For me though, if I advertise for one month on Facebook it would cost me £50 a day which would work out to be £350 a week and £1400 for the whole month. As for Twitter, it would cost me £2.00 per re-tweet. So, if I decided to re-tweet certain posts 8 http://www.mediauk.com/radio/data 9 http://pedestrianliberation.org/2011/01/10/how-many-people-do-drive-their-kids-to-school/ 12 | P a g e By Robert Bowry Task Four Unit Nine Coherent Marketing Mix up to 10 times a day, that would work out to be £20 a day which would be £140 a week and for a whole month it would work out to be £560 for the month. The print screen below will show statistics between male and female users of different social media sites. From reading the print screen which can be seen on the left of this text, is states that in this study, it includes Facebook, LinkedIn, MySpace, Twitter, Slashdot, Reddit, Digg, Delicious, StumbleUpon, FriendFeed, Last.fm, Friendster, LiveJournal, Hi5, Imeem, Ning, Xanga, Classmates.com and Bebo. As we can see, this is quite an extensive list of social media sites that are included within this study and more importantly, both Facebook and Twitter are both included in this study as well. The study conducted was breaking up the user data of each social media site and finding out the exact percentage of both male and female users. Continuing on through the print screen, it also states that 84% (16 out of 19) of the sites have more female than male users; these 16 sites include both Facebook and Twitter as well. So, from reading the article, I know that both Facebook and Twitter have more female users in comparison with male’s users and thus, making these two very well-known social media sites prime social sites to use in order to reach my female target audience. In addition to this, I will be changing my 3rd marketing objective as my third marketing objective was originally to achieve a 10% marketing share in men’s aftershave. However, this would be easier to achieve when compared to trying to achieve a 10% market share in the perfume market since there are much more competitors and various different products in the perfume market when compared to the men’s aftershave market. In order for my third marketing objective to meet my new target audience, I will be changing the percentage from 10% to 4%. The reason why I have chosen this percentage is because there are 10 main competitors in the perfume market where in the men’s aftershave market there are considerably less main, rival competitors in the market (a print screen with the main competitors will be shown on the page below. Since there are more organizations that I will be competing with, it will make gaining a 10% market share very difficult to do and therefore, I 13 | P a g e By Robert Bowry Task Four Unit Nine Coherent Marketing Mix have to bring the percentage down to something that is more reasonable and achievable. Therefore, I have chosen 4% as my new target to reach.10 The print screen on the left is a table of the top computers within the perfume market. As we can see form the print screen, there are 10 main competitors within the perfume market which is not including the many other different brands that are already out there as well. Thus helping to reinforce my decision on deciding to lower the percentage as 10% will not be able to achieve – 4% being much more manageable and achievable. 10 http://www.kafkaesqueblog.com/2013/08/24/perfume-news-2013-fragrance-sales-figures-revenuefragrance-markets/ 14 | P a g e By Robert Bowry