Waters Bottling Company - Essay Example

Waters Bottling Company (WBC) Market Plan al affiliation Waters Bottling Company (WBC) Market Plan Section 5: Promotion Mix/ Personal Selling and Global Markets Promotion Mix Promotion mix is a specific combination of the promotional method that the company could use for its crystal clear, granite filtered mountain water. Some elements that Waters Bottling Company (WBC) could use in its promotion mix include advertising, personal selling, direct marketing, public relations, and sales promotion. Advertising Advertising is a component of the promotion mix (Lamb, 2012). It deals with creating awareness among customers regarding the crystal clear, granite filtered mountain water. It is a crucial step in marketing because the process involves strategy selection, analyzing the expenditure and advertising media selection. Advertising is the most expensive strategy in the promotional mix. The strategy would help WBC to spread information widely through paid media. It aims at attracting people to purchase the water. While making this decision, WBC needs to choose the best media of advertising that will send the company’s message to the target market. The media also needs to be economical for the company to reduce its expenses. Some of the advertising Medias that WBC could consider are radio advertising, outdoor advertising, television, ambient advertising, the internet, magazines, newspapers, and door drops. Personal Selling Personal selling is a process that involves helping and persuading potential consumers to buy the crystal clear, granite filtered mountain water. This is a personal to personal interaction during the sales process. Interaction can be in the form of personal correspondence and face to face discussions. This strategy demands WBC to target specific potential customers with the aim of altering their desired product. The process would help the company demonstrate the benefits of the water. Sales Promotion Sales promotions are media and non-media marketing communication that are used for a specific period to stimulate market demand, improve the product availability, and increase the consumer demand for the water. Sales promotion is a direct and immediate inducement. It adds value to the crystal clear, granite filtered mountain water and hence prompts consumers to buy the product. Direct Marketing Direct marketing is a form of marketing that will allow WBC to communicate directly with potential customers. The method aims at eliminating middlemen and implies that WBC markets to its consumer group without secondary media such as radio and television commercials. The company can use this strategy by applying tools such as distributing fliers. The method would help WBC get immediate response and encourages lasting customer relationships. Direct marketing would help the company save costs that it would have incurred if it uses expensive commercial. Three forms of direct marketing that can be used by WBC include sending direct emails, telemarketing, and catalog marketing. Public Relations In today’s competitive market, the public relation has become crucial. WBC has to have and edge and stand out from competitors. The focus of public relations is giving true information about the water and value to the public. The aim of public relation at WBC would be to improve the company’s reputation and also protect it from any harm to its reputation. A variety of communication tools and channels can be used to create the image of the water and the company. The main tools that can be used for public relations include special events, sponsorships, community relations, and media relations. Brand Management Brand management is the process that involves every part and employee to capture the true essence of the brand. It is crucial for WBC to engage in the brand management process because it will make sure that the brand is maintained, upheld, and improved so that it is associated with positive results. While managing the brand, WBC needs to consider some aspects such as competition, cost, and customer satisfaction. Proper brand management will help WBC get higher sales (Riezebos, 2004). Branding Strategies Brand strategies are crucial for WBC in establishing its product within the target market. It also helps to build a brand that will grow and mature in the saturated market that the company is operating in currently. It is crucial for WBC to make smart branding decision because the company will have to live with the decision for very long. The commonly used strategies include; attitude branding, individual branding for each product, and crowdsourcing branding. Emotional Branding Customers usually identify themselves with the kind of brands that they use. When they have a close emotional link with the water, they are more likely to purchase the water. With high emotions involved in decision-making, it is crucial for WBC to identify how its product can create an emotional bond with customers that would make a direct contribution to increasing the company’s profits. The strategy will help WBC differentiate itself with its competitors. Brand Extension Brand extension is a method that can be used by WBC to launch its new product by applying an existing brand name on the new product that can be in a different category (OGuinn, 2009). If the company wants to use this strategy, it is assumed that it currently has loyal customers that it hopes to leverage with the aim of increasing profits for its new product. For a brand extension to be successful, there must be an association between the original product and the crystal clear, granite filtered mountain water. Global Markets Global marketing will be crucial for WBC when it wants its products to have a universal demand. Currently, the company has never done marketing for its water, however, because the company aims at making a profit, it is expected that it will want the product to get global demand. Opportunities and Challenges Marketing can present opportunities and challenges to WBC. The biggest opportunity for the company is being able to create awareness of the crystal clear, granite filtered mountain water to potential consumers. The biggest challenge in marketing is the complexity in the market. Understanding the market and consumer needs is crucial in marketing because different consumer groups have different needs. Another challenge is generating awareness because of lack of knowledge on the right channels to focus in so as to make sure that WBC gets the highest return. Targeting effectively can also be a challenge when the company is not able to identify the buyer personas to determine the right group to market to. The final challenge that WBC can experience is keeping up with marketing strategies and trends because of changed in technology. Bibliography Lamb, C. W. (2012). Marketing. Toronto: Nelson Education. OGuinn, T. C., Allen, C. T., & Semenik, R. J. (2009). Advertising and integrated brand promotion. Mason, Ohio: South-Western/Cengage Learning. Riezebos, R., & Kist, B. (2004). Brand Management: A theoretical and practical approach. Harlow [u.a.: Financial Times/Prentice-Hall. Read More