Promotional Strategy Presentation
Rmadrid2015
promotional_strategy_presentation_exaple.pptxPromotional Strategy Presentation
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Apple Inc. Subphone
As we all know Apple Inc is the leading technology product brand in the world. With their ability to use innovation and cutting edge technology they have managed to become a household name all over the world. So when my team and I were asked to come up with the next big Apple Inc. product we jumped at the chance. In this presentation we will be discussing the marketing strategy we will take to introduce our product the Subphone to the Apple Inc market.
The Sub Phone is a small credit card size cellphone that can be used for receiving and making phone calls, but its main function is to located lost or misplaced cell phones . Small enough to carry in your pockets or a wallet the Sub Phone would give you the ability to turn off the lost phone by using a four digit code that makes the phone useless. Great idea for school age children in case of emergencies at school when parents are not available.
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| Strengths (Internal) | Weaknesses (Internal) |
| Prestigious, well-known brand with U.S./International users Innovative in staying ahead of the technology curve Rock-solid finances can fund multiple projects | Internet connection is needed to access most Apple apps Priced much higher than their competition Users have to buy up to take advantage of the latest in technology Apple products may offer |
| Opportunities (External) | Threats (External) |
| Distribution network expansion Rising demand for tablets and smart phones Creation of new product lines | Increased growth in Samsung android products that rival Apple Cheaper prices from their competitors Cloud has been hacked more than once exposing some users important and private information |
SWOT ANALYSIS
The SWOT analysis shows how and where the product can be utilized within the Apple company. The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats). SWOT analysis determines what may assist the firm in accomplishing its objectives, and what obstacles must be overcome or minimized to achieve desired results. To introduce the new Subphone to the market there are several goals that need to be addressed :
Identify trends in the company’s industries
Analyze the company’s competitors
Assess the company itself
Research the company’s present and prospective customers
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| Apple Inc. strengths and weaknesses | Samsung strengths and weaknesses | Competitive Rival’s strengths and weaknesses | |
| Target Market | Businesses, tech savvy individuals | Businesses, tech savvy individuals | Businesses, tech savvy individuals |
| Product | Iphone, Ipad, Macbook, Applewatch | Galaxy S3, Galaxy note, Galaxy Tab, Samsung Gear | More options, include appliances |
| Place | Offers products with most carriers/ cost more than other products | Has more selections to chose from/ not as innovative as Apple phones and products | Depending on carrier may not work every where |
| Promotion | Know all over the world | Second to Apple in sales | Have the potential to be just as great as Apple/ not as innovative |
| Price | $49-$2500 | $39-$2500 | Price point about the same on some products |
| Competitive Barriers | price | innovation | |
| Likely responses | Better quality | Okay quality | Always improving |
Target Marketing Analysis
A target market in business is defined as a specific group of consumers at which a company aims its products and services. A target market analysis is done to determine which group or businesses will best benefit from the marketed product. This allows the marketing managers to zero in on its targeted market and skip the middle man, in turn saving them time and money. The Subphone can be useful to all genders and age groups. It can benefit busy parents by allowing them to stay in contact with their children when they are not around. Its beneficial to the overworked professional who doesn’t have time to text and email, so if its important you can just call them, that’s it, nothing more nothing less. The Subphone allows users to find their phones in the event they lose it or it becomes stolen. Businesses could benefit from the subphone as a communication device for staff members, for examples Doctors could use them instead of they own personal cell phones to be reached by their respective hospitals.
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Consistency
Simplicity
Anticipation
Hype created through cult followers
Social media, reviews, digital marketing
Product placement- movies, celebrities
Advertising
Apples branding and advertising has remained consistent, allowing consumers to be able to recognize and trust the company. Apple focuses on providing consumers with a premium product and does not have to add any extra advertising fluff to convince consumers to purchase the products. Previous products advertising has been simple, offering the product details, showing real people using Apple products and the Subphones advertising will remain the same way (DeMers, 2014). The Subphone is a product that is simplistic in itself, so any advertising will match its simplicity, and aim to educate not overwhelm consumers. Anticipation acts as advertising because consumers are always waiting for Apple to release a new product. The Apple brand has created cult followers with their prior success and along with the anticipation comes the urgency from faithful followers to be the first to obtain new products. These consumers then rave about the products on social media, Youtube videos and reviews which costs Apple nothing in advertising dollars. What Apple will spend advertising dollars on though is promotion through television ads, events, digital marketing sometimes product placement. "One of Apple's employees works closely with Hollywood on so-called product placement so its gadgets are used in movies and television shows," according to Bloomberg's account of Schiller's testimony. Bloomberg Businessweek also reported earlier this year that Apple has "spent decades strengthening its subtle but powerful grip over Hollywood, and unlike many companies, says it never pays for its products to appear on television or in movies (Grandoni,2012).“
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Consistency
Absolute secrecy until public release
Create Buzz
Use of Press Releases to confirm
“Integrating Apple’s products into popular culture”
Public Relations
Apples products have been so successful because of their outstanding public relation departments and techniques. The public relation department will follow the same process with the Subphone, as Apple is known for their consistency when releasing a new product. Unlike other companies, Apple does not release any sneak peeks or betas and maintains absolute secrecy until public release. Steve Jobs himself, was often the one to inform the world of any new Apple products. Apple has used press releases, and will do so with the Subphone. The importance of the press release straight from Apple is so that consumers know the information they are getting is coming directly from the source. Given the secrecy surrounding new products, consumers learn that reliable information comes from Apple first, and that allows Apple to prevent leaks and control their own image. Another important technique used by Apple is to intregrate the products into popular culture. Apple has earned the reputation of producing innovative products that are the epitome of cool, and part of the public relations responsibility will be making sure that they seek out any opportunity to align the subphone with celebrities, events and other popular avenues. ( Marcus, 2014)
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Packaging
Small in size
Eye catching colors
Simple Apple Inc logo
The purpose of product packaging is to capture the potential buyers attention. Packaging products in boring bland colors like white, black and brown are not attention grabbing enough and in most cases cause potential buyers to bypass them. The packaging for the Subphone will be eye catching on the outside and well protected on the inside. Sub Phone would be featured on the box and a window provided on both sides of the box to show the width. The power cord and plug would be the Apple signature white. Apple Inc would offer the Subphone in a rainbow of colors that appeal to each persons personal preference.
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Digital Marketing
Social media
Internet
Gmail
Yahoo
Mobile
Text
Offline
Television
Radio
Digital Marketing is defined as the promotion of products or brands via one or more forms of electronic media. Digital marketing can include but are not limited to the Internet, Social Media, mobile phones and electronic billboards. Digital marketing also includes television and radio. Digital Marketing is important because not only is it a sure fire way to reach the masses quickly, It is also considered the new marketing wave of the future. Digital methods of communication and marketing are faster, more versatile, and practical. Using each of these marketing outlets can be really beneficial to the success of the Subphone. Not only would we be able to promote our product to millions of people around the world but we are also able to connect with the generation that is not big on digital or social media but still keep up with what’s going on through radio, TV and newspapers.
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Social Media
YouTube
Using social media is a must in today’s society when it comes to promoting products, services or brands. Social media has the power to reach millions of people daily. The Subphone is a universal device which means it can be used by anyone who knows how to operate a simple cell phone device regardless of demographics or geographic. I think by promoting the Subphone on the top social media sites like FaceBook, Twitter, Pintrest and Instagram we are destined to receive an automatic following or at least peak the interest of millions of people at one.
Social Media Marketing(SMM) is defined as The use of social media websites and social networks to market a company’s products and services. Social media marketing provides companies with a way to reach new customers and engage with existing customers. According to Boxchilli.com, Social Media has become the driving force behind internet marketing. Popular websites such as Facebook, Youtube and Tumblr are becoming widespread mediums to increase internet traffic to websites and raise brand awareness. Websites such as Pinterest use their image ‘pinning’ function to provide information on products and services. It can take the user to a company landing page. According to Digitalsherpa, 15% of customers use social media to search for local businesses. The success of such sites as Facebook and Pinterest show how effective social media marketing can be.
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Online Advertising
YouTube
Yahoo
Online advertising or Online Marketing is defined as the Use of internet as an advertising medium where promotional messages appear on a computer screen. Since the communication software (browser) reveals sufficient information about the site's visitors, online advertising can be custom-tailored to match user preferences.(www.businessdictionary.com). Companies can use online marketing to garner business for future revenue, or just to simply promote their business by using online web pages or banners. The benefit of online advertising is the immediate publishing of information that is not limited by geographic or time constraints. Online marketing gives the company room to customize their ads which makes their targeting efforts more effective. Using online marketing we Apple Inc. could create a web domain solely for the purposes of promoting the Subphone. Giving customers a url link that takes them directly to the products page and answers any questions they may have about the benefits of our product.
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Mobile Marketing
SMS
Mobile marketing is promotional activity designed for delivery to cell phones, smart phones and other handheld devices, usually as a component of a multi-channel campaign. It has been said the 50% of all mobile searches lead to purchases, so promoting the Subphone in this manner seems like a no brainer because according to studies we have a 50/100% chance of selling our product to a customer. Mobile marketing is also a great idea for promoting our product because at least 91% of smartphone users have their phones within arms reach at all times, which means if we run a mobile ad for the Subphone we have almost a 100% chance that someone will see it and at least 50% may want to buy it. By marketing through mobile we offer the consumer a quicker feedback time because the average email return time is about and hour and a half, while the average return time for feedback with a text message is about a minute and a half. Mobile marketing is also helpful when a coupon or discount is offered through text. By texting thing like reply to this text with the code SUB, you will receive 20% off of you first order, will almost always result in a sale.
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Offline Marketing
Television
Radio
Newspaper
Magazine
Television and radio are both still very important marketing tools, that can still be used in today’s society to promote new and old products. This type of marketing is called “offline marketing”. This is what I call traditional marketing before the social media craze took place. Offline marketing also includes newspaper and magazine advertisements. To use this form of marketing for our Subphone I would run a add in all the major newspapers in each state advertising the benefits of our product. My Television and radio spot would include acted out skits focusing on how useful a subphone could be in case of an emergency. Magazine advertisements would showcase mothers and kids and how having a subphone helped saved a life in the event of a kidnapping or some other unforeseen horrible event that would separate a mother/father from their child. I think these types of marketing outlets allow companies to play on the emotional side of the consumers.
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Direct Marketing
Getting rid of the middleman.
Fliers
Mailers
Magazines
Direct marketing is defined as “A form of advertising in which physical marketing materials are provided to consumers in order to communicate information about a product or service. Direct marketing does not involve advertisements placed on the internet, on the or the radio. Types of direct marketing materials include catalogs, mailers and fliers”. ("Direct Marketing", 2016). Direct marketing that can be applied to the advertisement of the Sub Phone could be ads in magazines, or sales papers. One way to advertise could be mailers inserted in the Sunday’s paper along with all of the other sales papers. The catch with getting it in a mailer, is that most of the time, the mailer can have a coupon attached to it. The coupon could have a free case for your iPhone with the purchase of a Sub Phone. An average iPhone case starts at 25 to 30 dollars for a decent case, so that could end up being a very good bargain for the customer.
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Event Marketing
Strategically selling
Theme to sell Sub Phone
Display, or exhibit
Festival, fair, concert, parades, seminar to promote the Sub Phone
Event marking is set up to promote and sell the product. The name event in itself lets the consumer know that it’s tied into some type of an event. The sub phone can be sold at many different venues just to kick start the sales. The obvious place to sell the Sub Phone would be in the Apple store, simply put because it strategically works with all of the other Apple products. All apple products connect with one another, it’s just the way they work. The theme to sell the Sub Phone would have to be one that catches the customers attention. Something that screams out, ”I have to have that product.” The display and exhibit have to be eye-catching as all other apple products are. To promote the Sub Phone, advertisements such as fliers and posters should be at festivals, fair’s concerts and seminars will be held to promote the Sub Phone. This product can take Apple’s technology to the next level of communication.
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Outdoor Marketing
Billboards (print and digital)
Transit advertising (buses, subways, taxis, etc.)
Commuter displays (airports, bus stops, etc.)
Information kiosks
Outdoor marketing, is marketing conducted outdoors. Billboards—whether print or digital are the most popular of the outdoor marketing methods. Signs on buses and public benches are also popular locations used in outdoor marketing. Taxi advertising is also an effective form of outdoor advertising. Outdoor marketing is also becoming more innovative, which means it gives businesses and companies more lead way to be more expressive .According to marketingschool.org outdoor advertising works particularly well in attracting local customers—or often, in the case of billboards, visitors to a certain city or resort area. While some people find billboards distracting, four out of five people still consider billboards to be useful and informative, according to the Outdoor Advertising Association of America. Outdoor marketing would be very effective for the Apple Subphone.
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Billboard Advertising
Huge and eye-catching
Targets a large and diverse market
Easily registered information
Increased frequency of consumer exposure
Billboard advertising is the number one outdoor marketing tool. Creating a billboard for the Apple Subphone is a great way to garner exposure for our product. Most billboards are located close to or within miles of the business itself making it easy to draw attention to the company as well as the product advertised. Billboards allow businesses to be as creative and as innovative as they would like, so the marketing scheme for our Subphone can be limitless. The objective of a billboard is to be placed in high traffic areas where they can be easily seen and capture viewers attention.
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Transit Advertising
Buses
Subways
Taxi
Highly visible
24 hour advertising
Transit advertising is defines as the placement of print ads on buses and other vehicles and in bus shelters and train stations. Transit advertising is an important medium for reaching an audience of all ages, backgrounds and incomes. I called transit advertising “as you wait” advertising because its on moving items that pass by us as we wait for the subway, bus or train. In large cities like New York hundreds of thousands of people ride the subway or hail taxis everyday, which means that hundreds of thousands of men, women and children could possibly see our advertisement for the Apple Subphone daily and could become potential buyers. The benefits of this type of marketing is the visibility is gives to potential buyers. Transit advertising is also geographical. The slogans and visual ads created for the Apple Subphone can be placed on transit vehicles from New York to Tokyo.
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Bus Bench advertising
Bus stops offer great scalability.
24 hour advertising
Highly visible
Geographical
Bus-bench advertising is an effective marketing tool because it's highly visible, like a billboard. Bus-bench advertisers have a huge audience, held captive at red lights or in slow-moving traffic. Depending on where the advertisement is located it can easily catch the eye of thousands of people annually. This is another example of “while you wait” advertising. This is a great way for the Apple marketing team to come up with a visually distracting ad campaign for the Subphone that will make potential buyers interested in learning more about our product.
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Budget
Budget must be divided in three parts as it shows in the pie. Apple has been on the cutting edge of technology since they figured out how to have 1000 songs in your pocket with the introduction of the iPod October 2001. (Kahney, 2014). Since then, their products have only gotten better with the launch of the iPhone and then the iPad. The next phase of Apple products can be the introduction of the Sub phone. It can be Apple's next big thing. With an affordable price of 75 dollars, it's like giving the consumer the added support for their other Apple products. The Sub Phone will be able to communicate with the MacBook and the iPad as well as the iPhone.
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Sales Advertising Digital marketing Public relations 0.35000000000000026 0.30000000000000027 0.35000000000000026
Budget
Advertising: This an important marketing tool, helping creating awareness of the business to consumers. Advertising will take 35% of the Budget.
Public relationship: This is important since a positive reputation from the community will lead to more sales for the company. Public Relations will take 35% of the Budget.
Advertising: This is one important marketing tool for APPLE as it is the one which will help in making the business Known to consumers. Hence, this tool will take 35%. This can be through channels such as TV, radio and newspaper advertising, with targeting being made to the right customers.
Public relationship: This is important since a positive reputation from the community will lead to more sales fro the company. Hence this section too will take 35% of the finances.
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Evaluation and Control
Annual plan Control
Sales analysis
Market Share analysis
Financial analysis
Profitability Control
Direct cost vs. total cost
Determining correct actions
In marketing evaluation and control work hand in hand. This is the part of the marketing process where companies find out if the marketing scheme was effective and if not, they come up with a plan to make it work. Evaluating the marketing plan means looking at the data and examining whether or not the company achieved its strategy objectives from the implementation phase. Controls are necessary for the evaluation phase. Controls established during the creation of the marketing plan provide benchmarks to assess how well the plan accomplished its goals. Controls are like goals; they give the company something to aim for when enacting the plan. Controls may include measures such as the marketing budgets and market share.
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Define Measures
Determine target values
Perform measure
Compare measures
Make needed changes
Annual Plan Control
What are we trying to achieve
What happened
Why did it happen
What’s our next move
Annual plan control is one of four types of the marketing system. Annual plan control is designed to determine if all the efforts a company has taken thus far are working or not. This plan is the responsibility of middle to top level management in a company. Their job is to keep track of all aspect of the marketing plan after implantation to make sure that the initial marketing plan is working or needs work. The process calls for four steps that need to be addressed to ensure the plan is effective. Those four steps are: Goal setting- what are we trying to do?, Measuring performance- what is happening with this marketing scheme, Diagnosis-why did the marketing scheme used work or didn’t work, and lastly Corrective action- what can we do to fix it, or make it more effective. The type of control helps Apple Inc management decide if the implemented plan of marketing for the Subphone is effective enough or should different courses of action should be taken.
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Set goals
Measure performance
Diagnosis
Take action
Profitability Control
Money made
Money Earned
Money spent
Profitability control is the method of keeping track of sales made, profits earned as well as other infraction that may occur that require money to be spent by the company on the marketing of a product. Profitability controls measures the success of the new product against the success of other products the company sales based on consumer consumption. Profitability Control consists of three profit analysis and those are: Customer profitability analysis(are the customers buying the product), Customer product analysis(is the product in demand) and increasing company profitability(is the product making money for the company). Using these methods of control the middle to upper level managers at Apple Inc can determine is the Subphone is a product that is benefiting their company or hurting the company.
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CPA-Customer Profitability Analysis
Customer product analysis
Increase profit for company
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Images
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(image) www.pinterest.com
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