The marketing communications plan for ultime HP TV - Essay Example

MARKETING COMMUNICATION PLAN FOR ULTIME HP TV Table of Contents Executive summary 2 0 Introduction 2 Hewlett-Packard Company is a perfect example of a successful company in the global technological industry. The company specializes in the providing technologies, products, software services and solutions for consumers, small and medium term enterprises, and large enterprises. The major products lines that the company deals in include a wide range of printers and their associated by-products, personal computers, networking products, industry and enterprise servers, storage devices, and software products. In the past year, the company was ranked as the world’s largest PC vendor in terms of units that were sold; this is according to Fetterman (2012). 2 2.0 The ULTiME HP TV 3 3.0 Objectives of the marketing communication plan 3 3.1 Communication objectives 4 3.2 Marketing objectives 5 4.0 Strategies for achieving the objectives 6 4.1 Segmentation 6 4.2 Targeting 7 4.3 Positioning 7 5.0 Budget for one year 8 6.0 Conclusion 8 References 8 Fetterman, D. (2012). Empowerment Evaluation in the Digital Villages: Hewlett-Packards $15 Million Race Toward Social Justice. Stanford Business Books 9 Kitchen, P. (2005). Marketing Communications. UK: Taylor & Francis Ltd 9 Neumeier, M. (2006). Zag: The Number One Strategy of High-Performance Brands. Peachpit Press 9 Parente, D. (2005). Advertising Campaign Strategy: A Guide to Marketing Communication Plans. South-Western College Publications. Boston, U.S 9 Pickton, D. and Broderick, A. (2005). Integrated Marketing Communications. (2nd Edition). London: FT Pearson 9 Executive summary This present paper is a marketing communication plan, which denotes on the plan that will be used in conducting the marketing communication. The paper is written from the standpoint of a manufacturer who in this case is Hewlett-Packard. The plan focuses on the launch year for a new in-home entrainment system released by the company, which is known as the Hewlett-Packard TV pad. The marketing communication plan will be divided into two critical sections or stages, of which the first stage spells out the objectives of the plan in terms of the marketing and communication objectives. The second stage of the plan spells out the strategies that will be used in the segmentation, targeting, and positioning processes. Additionally, this report will provide an estimate budget for the marketing communication plan, which will only run for a period of one year and it will only cover the United Kingdom market. 1.0 Introduction According to Malone (2007), the technology industry is busting with innovations in an un-choreographed time schedule, which means that failure to innovate timely product is likely a recipe for failure by the technological companies. The competition is high such that manufacturers in the industry have to continually research and create new products that are more suited to customers’ needs and expectations. Hewlett-Packard Company is a perfect example of a successful company in the global technological industry. The company specializes in the providing technologies, products, software services and solutions for consumers, small and medium term enterprises, and large enterprises. The major products lines that the company deals in include a wide range of printers and their associated by-products, personal computers, networking products, industry and enterprise servers, storage devices, and software products. In the past year, the company was ranked as the world’s largest PC vendor in terms of units that were sold; this is according to Fetterman (2012). Therefore, this present paper spells out the plan that Hewlett-Packard will use to generate high sales within the UK market for the ULTiME HP TV. 2.0 The ULTiME HP TV ULTIME HP TV is a digital media receiver that has network appliances, which are designed to play digital content from varying sources such as Movie-TV programs, video calling , social networking apps. Twitter, Skype, face book, Video , YouTube , bbc I player movie streaming , 3D , free view , Hd , Memory Hard- 7506b, Multimedia , audio playback. Input devices Wireless WIFI , Bluetooth 40Hs , Ports 3 HDMI 2Usb , SCART Input, HP Wireless audio system ,   It is of essence to note that under this plan, it is assumed that the ULTiME HP TV is a new line of product under Hewlett-Packard Company’s new range of in-home entertainment systems. 3.0 Objectives of the marketing communication plan From a wider perspective, it can be stated that the marketing communication plan is mainly intended to competitively position Hewlett-Packard Company within the in-home entertainment systems sector. The plan aims to ensure that the new ULTiME HP TV generates high sales revenues and is a favorite among the consumers. By successfully marketing the new ULTiME HP TV the company will be able to increase its market share as well as the overall profitability of the company. According to the writings by Kitchen (2005), he summarily stated that the marketing communication plan mainly sets the tone for any new product that is released into the market. The effectiveness of the marketing communication plan will determine the pace at which the ULTiME HP TV sells in the market both in the long and short term. However, De Pelsmacker et al. (2004) noted that the marketing communication plan would only be successful if it reaches or targets the right audiences. The objectives of this marketing communication plan are divided into two distinct categories that include the marketing objectives and the communication objectives. 3.1 Communication objectives a) To create consumer awareness In the writings by Pickton and Broderick (2005) it is stated that an appropriate and effective marketing communication plan should be able to inform the target audience about the product been advertised. Moreover, the awareness should inform the target audience about the availability of the new product, which could be one of its kinds or a better alternative when compared to the existing products. Homburg et al. (2009) in their studies summarily noted that in order for any product to sell within the market the consumers have to be aware of the existences of the products as well as its distinctive characteristics. b) To inform the target audience about the competitive advantage of the new ULTiME HP TV In reference to the studies conducted by Laermer and Simmons (2007), it can be noted that competitive factors of a product equally refers to the factors that differentiate the product from other related products that are available in the market. In this regard, Neumeier (2006) stated that product differentiation is among the key marketing strategic options and therefore, the marketing communication plan should be able to completely emphasize and inform the target audience about the unique features or capabilities of the new ULTiME HP TV. c) To inform the target audience of the usability of the new ULTiME HP TV Parente (2005) in his writings noted that consumers would normally shy away from products that they do not know how to use and hence, one of the communication objectives of the marketing plan will be to inform prospective customers on how the ULTiME HP TV operates and how to utilize the applications or features installed in the product. 3.2 Marketing objectives a) To generate sales for the new ULTiME HP TV upon its release The main marketing objective of the communication plan is to create curiosity and excitement amongst the target audience in order to generate sales of more than a hundred thousand within the first week of release for the new ULTiME HP TV. b) To increase Hewlett-Packard Company market share and overall profitability Secondly, the objective of the marketing communication plan is to ensure that the new ULTiME HP TV generates high sales, which means that more customers will be using the new product and therefore, the company’s market share would increase. Additionally, by generating high sales the company would be able to increase its overall profitability. 4.0 Strategies for achieving the objectives Kitchen (2005) stated that achieving the objectives of the marketing communication plan mainly depends on the segmentation, targeting, and positioning strategies that the company would adopt. 4.1 Segmentation According to Laermer and Simmons (2007), segmentation is usually done based on three broad categories that include behavioral characteristic, personal characteristic, and benefits sought after by customers. The table below shows the criteria that will be used to divide the market and even the preferred message for each characteristic. Major segmentation approaches Characteristic Attributes Preferred message Personal: Demographic Psychographic Geo-demographic Age, gender, social class, ethnicity, family profile, income and employment Lifestyle, personality Geographical area, neighborhood type Cost of the product and who will use it How will it enhance personal living Where can the product be used Behavioral Usage, loyalty, response, attitudes How will the product will be used Benefits Benefit sought Benefits that customers will get from using the product From the table it is noted that the market will be segmented based on the behaviour, personality, and benefits sought after by different consumers. Additionally, the market will be divided based on the particular message preferred by each segment. 4.2 Targeting Based on the three characteristics it can be conclusively stated that the new ULTiME HP TV will target consumers who are below the age of forty-five years old, who are tech savvy, and prefer the use of technology. These three market segments will respond positively to the marketing message because the consumers can relate with the product, they appreciate its capabilities, and they will definitely enjoy benefits offered by the new HP product. Furthermore, by focusing on this particular segment the company will not use many resources in trying to educate consumers what the ULTiME HP TV is and its capabilities. 4.3 Positioning De Pelsmacker and Geuens (1999) stated that positioning the product entails placing the product at the right place in the mind of audiences. For the audiences under the age of forty-five years, the marketing communication will inform them that the product is part of technological advancement that they should adopt it to stay relevant. For the tech-savvy audiences, the marketing communication will emphasize on them the technical capabilities of the product. While for those audiences who focus on the benefits of a product, the marketing communication will emphasize to them the benefits, they will get by using the new ULTiME HP TV. 5.0 Budget for one year Item Cost (GBP) Online advertisements 800,000 Television advertisements 5,000,000 Radio advertisements 2,000,000 Billboards and posters 3,500,000 Lottery games 200,000 Total estimate 11,500,000 6.0 Conclusion This plan has indicated that an appropriate marketing communication plan is likely to achieve the set marketing and communication objectives. Equally, these objectives will be achieved if the company conducts the segmentation, targeting, and positioning process in a manner that can positively affect the different market segments that have been chosen. References De Pelsmacker P. Geuens M. and Van Den Bergh J. (2004). Marketing communications. (2nd edition). Pearson Education Limited. New Jersey, U.S. De Pelsmacker P. and Geuens M. (1999). "The advertising effectiveness of different levels of intensity of humour and warmth and the moderating role of top of mind awareness and degree of product use." Journal of Marketing Communications. Forthcoming. Fetterman, D. (2012). Empowerment Evaluation in the Digital Villages: Hewlett-Packards $15 Million Race Toward Social Justice. Stanford Business Books Homburg, C. Sabine, K. and Harley, K. (2009): Marketing Management - A Contemporary Perspective (1st edition). John Wiley & Sons. New Jersey, U.S Kitchen, P. (2005). Marketing Communications. UK: Taylor & Francis Ltd Laermer, R. and Simmons, M. (2007). Punk Marketing. Harper Collins, New York, U.S  Malone, M. (2007). Bill & Dave: How Hewlett and Packard Built the Worlds Greatest Company. U.S: Portfolio Hardcover Neumeier, M. (2006). Zag: The Number One Strategy of High-Performance Brands. Peachpit Press Parente, D. (2005). Advertising Campaign Strategy: A Guide to Marketing Communication Plans. South-Western College Publications. Boston, U.S Pickton, D. and Broderick, A. (2005). Integrated Marketing Communications. (2nd Edition). London: FT Pearson Read More