Product marketing is an essential part of a company since it assists the company in generating profits from distinguished customers. Methods of product marketing vary from company to company with all these methods coming down to the fundamental growth of a company (Gök & Hacioglu, 2010). Marketing revolves around the pricing of products to the distribution of these items. It is efficient for companies to come up with strategies that can help in spearheading the sales of products in the company. SILO Automotive company requires primary and extensive marketing techniques for the company to grow and compete fairly with other large companies like Toyota, Subaru, Mitsubishi, and Mercedes.
The feedback obtained from the previous marketing plan is fair and adds more substance to the ideology I was trying to put across. The best brand approach for any product is to produce and make sure the customers attain the best quality services compared to what they initially received. The target market is well versatile and can be easily manipulated from time to time to make sure every individual requirement is well looked into. The feedback on the target market is a matter that can be handled by merely providing the best of the best to get more competitive in the automobile market and to get the attention of many.
Quality products need to be priced higher than those of lesser quality. But the pricing strategy for the company is to ensure that people can get the best quality and luxurious vehicles without having to dig deeper into their pockets. The approach is also a way of increasing the number of people who own personal automotive. Feedback on the behavior of consumers was obtained through statistics on the changes in how people relate to different vehicle approach from time to time.
Pricing and Distribution Strategy
Silo Automotive company is more concerned with reaching out to many people. For this case, it will have to generate a price that is economical friendly to individuals sensitive to the automotive's specifications and offerings. For years, cars have been considered for only the people who are well of and can afford the prices of maintenance and servicing of the particular vehicle. Never the less, SILO Automotive company is set to change this trend and make cars affordable for more consumer consumptions. This strategy not only assists in raising the use of fuel in a country, but also makes most automotive companies to think out the pieces of their product to compete fairly in the market. Designed in different varieties, the automotive industry is set to suit different customers at an affordable price that is relatively lower than the current market price of the existing products available.
After pricing, the essential part is product distribution to the customers to get access to the new product. When a new product is underway, it is always tricky for it to gain recognition or secure purchase since most people are not aware of the locations in the market. Just like other regular cars, SILO will be put on display with other companies that are well known for selling cars. The company is set to use the services of general motors company since it is the most recognized company in terms of selling quality cars for the public. The distributary channels are set to reach the local car dealers that are not internationally known, but are well versed with the selling of quality products. This is a way of the company entering the targeted customers at all angles. The company as well can come up with its distributary shops where they get to showcase their cars to get the attention of buyers. Buyers can chose to purchase from the original makers as a way of reducing the purchase of counterfeit products.
Marketing Communication Plan
Communication is the passage of information from one location to another, and as company information about a product needs to reach the target customers to get sales. Companies require a communication plan to figure out how they can efficiently acquire and retain their customers to increase their awareness of the product and improve their sales revenue. Proper automotive marketing makes the company brand name stick and increase its recognition in the automobile market. Hence, making advertisements is not necessarily due to awareness by a large number of individuals. Currently, the leading mode of publication is social media marketing since it is the most used mode of communication. Company pages can be created on websites and applications like Facebook, Twitter, and Instagram to create awareness to people of the new product in town.
These platforms of communication have billions of users, and a simple advertisement through these channels can reach up to millions on people with a minute. The platforms also have a hashtag that is used to see how well a product is trending. The company as well can use online car dealers’ platforms to reach a more significant number of people. Tv stations can also be used as a mode of advertising where the company issues out its products for showcasing on TV shows such as Top-Gear on the BBC network. Top Gear is a leading car show that helps consumers in understanding the abilities and quality of services of a vehicle to the customers. Using the newer ways of marketing is the most efficient since it reaches a large number of individuals reducing the cost of an advertisement in an organization. Advertising being the core of marketing requires more attention since it is through it that a company can understand the kind of quality consumers need based on the feedback given out.
Public Relations, Sales Promotion, and Personal Selling Plan
Organizations with a perfect relationship with its consumers always tend to succeed in their sales. This is because they have extensively captivated the interests of their customers with excellent servicing and reliable feedback of products. Public relations relates to how the firm communicates with the consumers to know what their demands are or to understand how they view a particular product that is available in the market. These days companies can best relate to their consumers through online means like the use of social media or bots that are automated to give genuine and necessary feedback to customers. The best customer relation plan is setting up a customer care forum where the firm listens to the customers' needs and demands and relevantly providing feedback. When a company uses bots, it can never be too accurate since it needs a constant upgrade of intel from time to time.
Promotion of products is used to capture the attention of customers, SILO Automobile is planning of issuing advertisement upon purchase of any car. The company will be issuing out products from TV-sets to T-shirts depending on the kind of purchase an individual makes. The most executive and luxurious vehicle purchasers will get TV sets. These promotional products will be issued at the same time they indulge in purchases from the companies preferred point of sales. Other car buyers will be issued t-shirts that have the company logo and motto to help in advertising of the company to other individuals. The company is also planning of opening multiple company shops where customers can obtain products and customer care services to help them in sorting issues.
Online and Direct Marketing Plan
Since the internet is the most used platform in today's times, it is efficient if most operations are made online as a way to get the attention of customers. Online marketing is the use of the internet in the marketing of products. Currently, the company is setting up a website where the customers will be able to receive services from time to time. The site is designed to be a forum where individuals get to communicate and know how everyone's experience with SILO's automotive is. The website also comes with an online customer care service where customers needs can be answered with immediate responses by the company's representatives. Blogs can also be used as an online marketing strategy to help in passing information about the quality of service the company maintains.
The direct marketing plan can lead a company into making more profit per sales; the customers also save money from the purchases. Direct marketing can be achieved through multiple channels - mail, e-mail, face to face contact, and phone calls. The company's ideal direct marketing plan is using face to face marketing strategies. Direct marketing engages the customers with representatives who give them services directly as planned by the company. The company is making plans for making calls to individuals to guide them on how they can get services from the company as well as some of the companies products. The calls can also be used by the customers to issue out their comments on a particular product that is available in the market. These communication channels as well can be used by the customers to initiate orders for products they need or services.
Social Responsibility / Cause-Related Marketing Plan
Social responsibility in marketing is the focusing of efforts on attracting consumers who want to make a difference in their purchase of products in the company. Most companies adopt this marketing strategy as a way of giving the community an opportunity making a beneficial means in the outcomes of a company. SILO plans on making its operations open to customer feedback to help the company remain active and reactive to their tastes and preferences. Social responsibility marketing can be promoted in various ways. One of these ways includes implementing and encouraging green practices where the company develops products without destroying the environmental structure of a community. Another marketing plan is celebrating the successes of the company, where the company involves the community in its achievements.
Sustainability and Monitoring of Effective Marketing Plans
Sustainability in marketing involves promotion of elements of a company's brand, products, and other services that the company offers. For a sustainable marketing plan, there are certain activities that an organization need to indulge in (Išoraitė, 2015). Some of these strategies are understanding the sustainability and recognizing what it means to the company, assuming the marketing plans ensure the policies stipulated for a company are well laid out (Luque-Martínez, Faraoni & Doña-Toledo, 2019). Monitoring of the marketing plan is the process of making sure the strategies a company had put across are followed and become valid for use. For better control, the company needs to hire peole that have the experience (Simkin, 2002), SILO Automotive company has employed qualified individuals who are equipped with the skills of marketing. The company will also need to make sure the promotional process of the company are accurate and give customers what they deserve.
References
Gök, O., & Hacioglu, G. (2010). The organizational roles of marketing and marketing managers. Marketing Intelligence & Planning, 28(3), 291-309. doi: 10.1108/02634501011041435
Išoraitė, M. (2015). Coupons as an effective and innovative marketing tool. Entrepreneurship And Sustainability Issues, 3(1), 104-113. doi: 10.9770/jesi.2015.3.1(9)
Luque-Martínez, Faraoni, & Doña-Toledo. (2019). Auditing the Marketing and Social Media Communication of Natural Protected Areas. How Marketing Can Contribute to the Sustainability of Tourism. Sustainability, 11(15), 4014. doi: 10.3390/su11154014
Simkin, L. (2002). Barriers are impeding the effective implementation of marketing plans – a training agenda. Journal Of Business & Industrial Marketing, 17(1), 8-24. doi: 10.1108/08858620210415172
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