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Marketing Campaign for a Successful Product Launch - Book Report/Review Example

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Institution Instructor Date Executive Summary Samsung is a big company in the electronic industry. Their entry into the mobile phones industry has seen them grow their image as a globally recognized brand by producing high-end mobile phone devices…
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Marketing Campaign for a Successful Product Launch
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Executive Summary Samsung is a big company in the electronic industry. Their entry into the mobile phones industry has seen them grow their image as a globally recognized brand by producing high-end mobile phone devices. Since the mobile phone market is a very competitive industry with the likes of Apple, their closest rivals, Nokia, Sony, Blackberry, and LG among others, the company needs to put extra attention to launch and campaign of their products to ensure they have a significant competitive advantage over their rivals. This report seeks to explain two important promotional tools, advertising and sales promotion that will be utilized in the successful launch the Samsung Galaxy III mini smartphone. Marketing Campaign for a Successful Product Launch A product launch whether for a new or existing product is a very important stage in the product’s life cycle. It is important that the launch of a product to be spectacular as it is a determinant whether the product will be successful in the market or not (Richardson, 2010). This is a key process especially when the market is saturated. The tasks sometimes overwhelm considering the number of factors that need to be put into consideration such as schedules, deadlines, stakeholders, and several endless tasks. However, the important aspect is that if the campaign is successful then the rewards are worth the trouble. Marketing Campaign Marketing campaign is what separates market leaders from slow growing companies (Shimp, 2010). Three very crucial roles that businesses have to perfect for it to become successful in the market include advertising, marketing, and promotion (Lamb, et al., 2008). Another, important thing marketers need to understand is that, marketing campaigns are not instant but, are composed of well thought ideas, detailed planning, research, and finally coming up with a grand idea (The Entrepreneur, 2013). Samsung Company has had its share of successful product launches especially in the smartphone market (Samsung Mobile, 2013). With this in mind, their knowledge and experience in successful marketing campaign over the years play a major role for each product they bring to the market. The marketing campaign for Samsung galaxy III mini smartphone will have to adopt a successful promotional mix that will incorporate the 7Ps of the marketing mix in order to have a successful product launch. Promotional tools to implement with the launch of Samsung galaxy III mini Promotion is a comprehensive means for the success of a product since it covers the whole process of creating awareness, attracting, offering information, and stimulating demand (Sudhakar, 2013). In his study, Sudhakar (2013), after investigating the promotion impact on Samsung’s galaxy tab, indicates that low sales mostly are as a result of poor or lack of promotional strategies. There are five strategies in the promotional mix (Ryan & Jones, 2011) that Samsung could adopt to launch the new smartphone. However, instead of using all the strategies, only two that appear to be most suitable are chosen and these are Sales promotion and advertising. One of the main causes of product fails is because of a poor promotion strategy during the launch of the product (Dietrich & Livingston, 2012). In using this two promotional strategies, it is important that they address in part of the whole of the seven marketing mix. The main reasons why these two methods tend to be the most suitable is as below. Sales promotion Starting with sales promotion, we need to understand that this is a very powerful tool in creating customer demand and stimulating sales (Beamish & Ashford, 2007). In launching Samsung galaxy III mini, the main sales promotion tools to be used will include discounts, and warranties. Discounts are very important part of sales promotion; this is because they tend to spark the sales of the product by creating a friendly environment for the price cautious customers (Ryan & Jones, 2011). Discounts touch on a very important part of the marketing mix, which is the price of the product. As identified in Chiu’s (2006) articles, price is what determines the demand of the product in the market. Discounts also cater for the interest of the customers, which are an important part of the people who influence the marketing mix (Hultink, et al., 1997). The other important tool that will be incorporate in the promotional mix of Samsung galxy III mini’s marketing campaign is provision of warranties. It is important to note that warranting a product is a way of displaying confidence in the product by the manufacture (Edgett & Jones, 1991); (Mullin, 2010). Samsung is perhaps one of the companies that offer the longest warranty period of two years (Samsung Mobile, 2013). The presentation of warranty with the product will have combined a number of the marketing mix components such as physical evidence, product, price, and process (Beever , 2013). Adverting Advertising is another important promotional tool that will be used prior, during, and after the launch of Samsung galaxy III mini. Advertising is the most widely used and effective promotional tool globally (Anon., 1983). The advertising carried out during the launch of the product will carry a significance importance in its success. In this case, WIRED 2013 conference will facilitate with the strategic location for the initial launch of the product. The conference will be of great use because the conference takes two days and will be hosting 28 inspiring talks and presentations by 40 of the world’s most innovative and influential people. As co-sponsor, Samsung is heavily involved in hosting WIRED 2013 and displaying the latest technology. The venue will provide a great opportunity to raise awareness. The other adverting techniques that will be used in the marketing campaign include: Contacting existing customers via email and post Advertisements in newspapers and magazines TV advertisements Conclusion The report has given a comprehensive understanding of how sales promotion and advertising will be successful in providing the necessary tools to attract, create interest, provide information, and stimulate demand. The report also highlights how sales promotion and advertising will cater for the marketing mix, which is very important for a product to survive in the market. Therefore, for a successful launch of Samsung galaxy III mini in the market will be using sales promotion and advertising as the best marketing campaign. Bibliography Anon., 1983. Central and Peripheral Routes to Advertising Effectiveness. Journal of Consumer research, 10(2), pp. 135-146. Beamish, K. & Ashford, R., 2007. Marketing Planning. 4th ed. Boston: Routledge. Beever , J., 2013. 4 Reasons Product Launch Marketing Campaigns Fail. [Online] Available at: http://www.newincite.com/marketing-strategy/4-reasons-product-launch-marketing-campaigns-fail/ [Accessed 17 May 2013]. Chiu, Y.-C., Chen, B., Shyu, J. Z. & Tzeng, G.-h., 2006. An evaluation model of new product launch strategy. Technovation, 26(11), pp. 1244-1252. Dietrich, G. & Livingston, G., 2012. Marketing in the Round: How to Develop an Integrated Marketing Campaign in the Digital Era. New York: Pearson: Que Publishing. Edgett, S. & Jones, S., 1991. New product development in the financial service industry: A case study. Journal of Marketing Management, 7(3), pp. 271-284. Hultink, E. J., Griffin, A., Hart, S. & Robben, H. S., 1997. Industrial new product launch strategies and product development performance. Journal of Product Innovation Managment, 14(4), pp. 243-257. Lamb, C. W., Hair , J. F. & McDaniel, C. D., 2008. Essentials of marketing. 6th ed. Toebben: Cengage Learning. Mullin, R., 2010. Sales Promotion: How to create, implement and integrate campaigns that really work. 5th ed. London: Kogan Page Publishers. Richardson, N., 2010. A Quick Start Guide to Mobile Marketing: Create a Dynamic Campaign and Improve Your Competitive Advantage. London: Kogan Page Publishers. Ryan, D. & Jones, C., 2011. The Best Digital Marketing Campaigns in the World: Mastering The Art of Customer Engagement. London: Kogan Page Publisher. Samsung Mobile, 2013. Samsung. [Online] Available at: http://www.samsung.com/uk/ [Accessed 18 May 2013]. Shimp, T. A., 2010. Advertising, Promotion, and Other Aspects of Integrated Marketing Communications. 8th ed. Toebben: Cengage Learning. Sudhakar, K. K., 2013. PROMOTIONAL STRATEGY OF SAMSUNG TABLETS. International Journal of Management and Service, III(1), pp. 77-92. The Entrepreneur, 2013. Marketing Campaign. [Online] Available at: http://www.entrepreneur.com/encyclopedia/marketing-campaign [Accessed 18 May 2013]. Read More
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