Advertising & Promotion (MKT621) Spring, 2020
Assignment No.1
Due Date: July
28, 2020.
Total Marks: 10
Weightage: 06
Topic:
“ Marketing Tools”
Learning Objective:
The core objective of this
assignment is to acquaint students with the components of Marketing Mix;
specifically with the different promotional tools that are used to generate
awareness and fame for any specific product.
Learning
Outcomes:
After
attempting this assignment, students will be able to comprehend that how the
firms can seek the attention of target customers and can attract them towards
any particular product thus by
The Case:
Olpers Milk,
categorized as tetra pack milk produced by Engro foods, is a leading milk brand
and is massively consumed across Pakistan. Because of the low quality concerns
and hygiene factors of open milk, the trend of consuming tetra pack milk is
continuously increasing in urban areas. Due to its vital ingredients and
premium quality taste, Olpers milk is likely consumed by people of all ages.
Pakistani mothers confidently serve Olpers milk to their kids because of the
nutritive factors that Olpers have in order to physically strengthen their
kids. Some of the renowned Montessori’s also serve Olpers milk to the young
students, this indeed depicts the quality and trust factor that people have on
Olpers milk.
Considering the fame and
increasing utility of Olpers milk and Olpers full cream powder milk,
Engro has recently introduced its
flavored milk. These mouthwatering flavored milk are
currently available in
strawberry and chocolate flavors. Indeed, Olpers is the pioneer of on airing
brilliant TV Commercials. Specifically, the idea and creative element used by
Olpers in its TV commercials is always remarkable and fascinating. With the
launch of these flavored milk, it is observed that they are lacking in creativity.
Rather, it illustrates that they are just informing their target customers
about their extension in brand portfolio. To make people aware regarding these
new refreshing milk
flavors, there is a need of generating proper awareness among target customers
so that they can prioritize Olpers flavored milk over other brands that are
operating in the similar business capacities.
R
equirement:
Being the student of Advertising & Promotion, you are
required to suggest different promotional
tools that can be helpful for Engro to generate instant
awareness regarding these newly introduced Olpers flavored milk.
Marking
Scheme:
The total marks of this
Assignment are 10.Avoid irrelevant text/material while answering the question.
Solution :
Advertising:
Advertising is defined as
any form of paid communication or promotion for product, service and idea.
Sales
Promotion:
Promotion is an incentive tool used to drive up short
term sales.
Sales promotion activity can have many objectives, for example, to grab
attention of new customer, reward the existing customer, increase consumption
of occasional users.
Public
Relations:
Companies cannot survive in isolation they need to have a constant
interaction with customers, employees and different stakeholders. The major
function of the public relation office is to handle press releases, support
product publicity, create and maintain the corporate image, handle matters with
lawmakers, guide management with respect to public issues.
The direct responsibility of marketing public relation (MPR) is to
support corporate and product branding activities
MPR is an efficient tool in building awareness by generating stories in media.
MPR is an efficient tool in building awareness by generating stories in media.
Direct
Marketing:
The
communication establishes through a direct channel without using any
intermediaries is referred to as direct marketing.
Direct marketing can be used to deliver message or service. Direct
marketing has shown tremendous growth in recent years. The internet has played
major part in this growth story. Direct marketing saves time, makes an
experience personal and pleasant. Direct marketing reduces cost for companies
Update the appearance:
Many
companies present good products to the world in poorly designed exteriors that
don’t dress those products for success. Look at the product itself. Do the
colors, aesthetics, and shapes appeal to top consumers.. .
Is your brand name visible in an appropriate manner?
In a
world where minimalism is big, can you streamline your product to be smaller,
to take up less space, and to be more efficient
Rethink the packaging:
Most often, refreshing the look of
your packaging is easier than updating the look of your product. If you want to
increase your prices, change your packaging to make it look like it’s worth the
new price tag. Adding “Improved Formula” seems to work for many consumer goods.
Product is attractive and easy to use:
Your
product should also feel nice smooth, polished, soft, or whatever texture is
appropriate to the product’s use. Tactile experiences add value to the product
even in today’s digital world.
Even
minor changes in your product’s look, feel, and function can improve its appeal
and customer satisfaction.
Eliminate confusion about which product does
what for whom:
If
you have more than one product, or variations for different segments you serve,
clarify the differences and uses of your products by pricing and naming them
distinctly (to make them obviously different). You’d be amazed how confusing
most product lines look to the average buyer.
Simply
put, you’re only as good as your products. Always be looking to update,
upgrade, or perhaps even replace your current line of products. It’s a long-term but vital marketing strategy. Consumers’ wants, needs, styles,
likes, and trends change quickly, and when you don’t provide what
they’re looking for, they can quickly find someone else who does.
Making assumptions:
Assuming that you know your customers, their
preferences, their loyalty to you, and the competitive environment in which you
operate is one of the most costly mistakes you can make. In most cases, you’re
likely wrong.
With
all the research and feedback tools available today to help you monitor the
voice of your customers and their real needs and attitudes, there’s no reason
to ever assume anything.
Regularly
survey your customers to see what they like and don’t like about your brand,
your products, and your service. Do surveys to update your Net Promoter Score
(as well. During transactions, ask for individual feedback and engage in social
listening. Analyze results to identify trends and things you can do to maintain
and increase satisfaction.
Ignoring customer complaints:
With all the social media channels available, unhappy customers can
share a bad brand experience with literally thousands of people in a matter of
minutes. In addition to their Facebook, Twitter, and other social accounts,
they can quickly post negative reviews about you and your products , Google,
deaz and other sites that masses of consumers browse daily.
Whenever this happens,
and it will, respond immediately on the site the customer
used for the complaint, and let the unhappy
customer and others know that you care about each customer and ask what you can
do to make it right.
Offering what you can’t deliver:
When you make promises you’re not sure you can deliver on, you put
yourself in the category of bad salespeople who can’t be trusted. In addition,
if you try to roll out a product that doesn’t work yet or before you’ve worked
out all the details for execution, service, and troubleshooting, you set
customers up to have a bad experience with you. Either way, you lose trust and
potential sales. In most, if not all cases, those disappointed customers can
find another supplier from whom to purchase and to whom to assign their
loyalty.
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