[Solved] MKT621 Assignment 1 Spring 2020
MKT621 Advertising & Promotion Assignment 1 Solution & Discussion Spring 2020
Advertising & Promotion (MKT621) Spring, 2020
Due Date: July 28, 2020.
Total Marks: 10
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.
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 using different promotional tools.
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.
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.
The total marks of this Assignment are 10.Avoid irrelevant text/material while answering the question.
MKT621 Advertising & Promotion Assignment 1 Solution & Discussion Spring 2020
MKT621 Assignment 1 Solution idea:
- 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.
- 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.