Effective Marketing Strategies of Companies All over the World - Essay Example

13th February Marketing Question Introduction Based on the stiff competition in the local and international markets, it is vital for firms to employ effective marketing strategies in order to effectively face off their competitors. One of the major ways through which a firm can maintain strong relationship with its customers is by adopting appropriate advertisements that are focused at enhancing product awareness among its customers. As the technology improves, companies are now employing various avenues to advertise their brands. Some of the notable avenues of advertising include televisions, social sites, you tube, bill boards and banners among others. The section below discusses three major television commercial undertaken by Toyota, Coca-Cola and Samsung Companies. Toyota Company advertisement involved a Toyota Highlander, a brand that is highly demanded in the international market. Based on the high quality brands that Toyota manufactures, the company has benefited from strong customer loyalty in the local and in international markets. The Toyota Highlander advertisement aimed at creating strong customer awareness of the new third generation Highlander that was manufactured in 2013. The advertisement involves a Highlander brand moving at a steady speed in a very smooth road. Based on the attractiveness and neatness of the inside part of the brand as displayed in the advertisement, the brand has been highly demanded in the international markets including Japan, US and Europe. By introducing Highlander in the market, Toyota targets at the high income earners who highly value the make of their vehicles (Goldstein 27). Being a mid-size SUV that is similar to Jeep Grand Cherokee and lexus RX, Highlander is also highly demanded by executives working in big companies. The effectiveness of the Highlander adverts in creating strong customers awareness is indicated by the high demand of the brand both locally and internationally. As a potential customer, I would buy the Highlander brand. This is due to its high technology and modern design that makes it comfortable to drive. For example, the product has a touchscreen display audio system, powertrain trims and front-wheel drive among others. Additionally, Highlander is made to offer high level of safety to the driver as well as other passengers. Coca-Cola Company advertisement involved young basketball players who stop to pray once they see their friend passing by drinking sprite, one of the major brands of the Coca-Cola Company. The company, which is the largest producer of soft drinks in the world, has greatly invested in advertisement and promotion of its brands for example in the FIFA World cup. In the sprite advertisement, the targeted customers are the young people who are involved in sports such as basketball and football. As indicated in the advertisement, once the young players drink the Sprite brand, they are filled up with energy that makes them to play their game for a longer period of time. This is an indication that the brand has been effectively promoted by the advertisement. Despite the stiff competition among the energy giving brands, Coca-Cola Company products has enjoyed high demand especially during the festive season and during the sporting activities globally (Kenneth and Baack 31). This has made the company to embark on undertaking advertisement activities during the period of festivities. As a result, customers have continuously been notified by the company once new brands are introduced in the market. As a customer, I would buy the Sprite brand. This is based on the rich nutrients that make up the brand making it to be of high quality. Similarly, the product offers extra energy that I need to undertake my daily duties. The Samsung Company advertisement of the Samsung Smart TV is also a major marketing strategy that has made the company relationship with its customers strong. The advertisement shows the consumers on how to navigate the TV menus in order to pick their favorite movies (Gupta 18). The Samsung advertisement targets families including parents and children. Based on the high quality image of the Samsung Smart TV, the product has enjoyed high demand in the international market. As a result, Samsung Company has continued to enjoy high sales and revenue generated by the product. Based on the modern and attractive aspects that the company has put in the brand, I would buy the Samsung Smart TV. Similarly, the favorites programs that are offered by the brand make it a major source of information that is vital in making other decisions. Conclusion From the above discussion, it is clear that television advertisements are appropriate avenues of informing the consumers locally and globally. Due to the improved technology and reduction in television prices, majority of households own a TV. Thus, firms should adopt the culture of using television as a way of advertising their products in order to reach large number of consumers. Companies such as Toyota, Samsung and Coca-Cola have for a long time used television to advertise their products an aspect that has made them to attain a competitive edge. Question 2 Introduction In order for any company to succeed in the local and international markets, it is essential for the marketing managers to ensure that appropriate marketing plan that covers wide range of aspects is adopted. As the marketing manager for ABC Company, I will ensure that in our efforts to enter the business to business arena we emulate effective marketing strategies. Such strategies includes proper pricing, effective advertising and retaining strong positive relationship with other firms among others. The section below indicates the marketing plan that ABC will emulate in order to reach the targeted market. Market segmentation Based on the large number of businesses that ABC targets, the company will emulate geographical segmentation as one of its key marketing strategies. Based on the high demand of the company products in the towns, ABC will undertake an extensive advertising in the towns by use of banners and local magazines as a way of informing the customers about the brands. In the rural areas where the company has not effectively penetrated, ABC will open more outlets that will ensure that businesses within those areas are effectively served. Another way through which ABC will segment the targeted market is by demographic. The company aims to supply its brands in the towns where its products will enjoy high demand. Marketing strategies Price ABC pricing techniques will ensure that it retains strong positive relationship with other businesses. For example, the company will introduce a 25% discount for the businesses that will pay promptly (Altstiel and Jean 13). In this way, the company will increase its sales and revenue thus making it possible to expand in other areas. Similarly, businesses that will settle their debts within the stipulated time will enjoy a reduction in prices by putting a discount of 15% on the original price. Promotion ABC Company will emulate various promotional factors as a way of enhancing customer awareness. One of the key channels that the company will adopt is the local magazines that indicate the various office products (Abell 34). Similarly, the company will initiate three major advertisements as a way of informing the other businesses about the various products in its stores. The first advertisement will be by use of television adverts. This will entail a 2 minute advert that will be aired before the prime news in the evening. In this way, the business managers will be aware of the ABC products since majority of them will be resting in their homes watching news. The second advertisement will be done through the social media including face book and twitter. This will make the managers from other businesses who are mostly users of social sites to be aware of the ABC products. Thirdly, the company will design banners that will be erected in highways. This will ensure that majority of the managers who are mostly drivers are familiar with our products. Product ABC will aim at producing quality brands that meet the needs of the businesses (Baker, 16). Through the use of quality raw materials, the company will produce durable brands that will ensure business do not incur high costs associated with low quality products. Place ABC Company will establish various outlets in order to face off the challenges associated with B2B activities. In major towns, the company aim is to establish two outlets making it easier for the businesses to access their brands. In the rural areas will establish one branch per region. Conclusion ABC Company marketing plan aims at creating a strong working relationship between the company and other businesses. For example, through the reduction in the prices by use of discounts, ABC will ensure that businesses do not incur high fixed costs in the form of office products. Similarly, the company will emulate effective promotion and advertising using three key channels including television advertisement, social media and banners. Based on the need to meet the needs of other businesses, ABC objective is to produce products that are of high quality. Additionally, the company will establish various outlets thus making it to effectively distribute its products. Works Cited Abell, K. Defining the Business: The Starting Point of Strategic Planning. New York: Oxford University press, 2009. Print. Altstiel, T and Jean, G. Advertising Strategy: Creative Tactics from the Outside. CA: Sage Publication Inc. 2006. Print. Baker, M. The Strategic Marketing Plan Audit 2008.Cambridge: Cambridge Strategy Publications, 2008.Print. Goldstein, D. What is Customer Segmentation. New York: Wharton School Publishing, 2007. Print. Gupta, S. Managing Customers as Investments: The Strategic Value of Customers in the Long Run. Upper Saddle River: Pearson Education publishers, 2006. Print. Kenneth, E and Baack, D. Integrated Advertising, Promotion, and Marketing Communications. New York: Pearson Education, 2007. Print. Read More