Marketing Communications Planning for the New Projector Laptop - Case Study Example

Introduction The project outlines the promotional and communicational for the launch of a fictional product called a projector laptop. In this scenario the new projector laptop is the newest product in Apple’s line of computer technologies. The new laptop is all set to be launched in the US market. The business problem in this case is “How to successfully launch the projector laptop in the market”. The task involves the study of the marketing plan for launching the product by using different marketing communication tools. The project will discuss the marketing communication approach that would be used to develop the marketing strategy and tactics for the new projector laptop. Context Analysis With the world of technology becoming smaller and smaller and with the increasing demand of new technologies for companies, the projector laptop will definitely serve purpose for all companies in holding small and medium presentations and meetings. Even though the U.S welcomes every new technology, but the markets in Asian countries like India and China post new opportunities for the company as the brand name also exists in these companies. The company needs to tap these new markets after tapping its home market for gaining more market share. Apple will create many new opportunities to create business contracts with the projector laptop. With the ease and precision of the new projector laptop companies will want to purchase more than one to accommodate to the size of their company. Creating a contract with large corporations will ensure profits for the life of the contract and beyond. As the context of this is to prepare the marketing communication plan, Advertising and Sales promotions will be the two key communication ingredients that are likely to affect the industry in which the project will be launched. The laptop projector will be useful in any company regardless of their size. If a meeting needs to take place the projector laptop will be useful to coordinate a well researched media show on a wall or screen. The projector laptop will offer easy access to giving presentations on the go to groups of 50 or more. So the customers of projector laptop will be big and small companies and management colleges. It is more likely a commercial product rather than a home use product. The technological advances of the company intrigue potential consumers and their marketing team has developed a strong strategy to determine the desired features of the target market and make product information readily available. So after identifying its potential customers, the company needs to identify its Competitors for successful implementation of the communication plan. Communication Objectives The key success factor in the current technology industry is acquiring the customers and providing them high end service with a chance of generating more income from the savings of the customer. As discussed earlier, the main objective of the marketing plan for Projector Laptop is the acquisition of new customers for this innovative product and generating more revenues from the existing customers. The acquisition of new customers can be done mainly by Advertising and sales promotion strategies whereas generating more revenues from existing customers is possible through generating more returns on investments for its retail customers, implementing proper strategies, reaching out the customers in a way that all the latest news about the new product should reach them at the earliest so that they can gain maximum by buying the product. The key objective of developing the communication plan for the laptop projector is to successfully communicate to its target customers about the product, its features, its launch and then to promote the sales by creating more awareness that keeps the product ahead of that of competitors and pushes the sales through techniques like sales promotion. Coordinated Promotional Mix The company will position its product as a high end product of a superior brand which would cater to the needs of industrial customers. This positioning will help Apple take the early mover advantage and can also help the company in targeting the right customers along with achieving operational efficiency. In the institutional format, the company will position itself as a brand that provides customized solutions to different Technological needs. The promotional mix of the company will include two communication tools i.e. advertising and sales promotion Advertising Advertising is the most successful way of reaching the customers. With the increasing demand of technology products, the number of options for the consumers is increasing day by day. In the current scenario the supply of these products is increasing day by day thereby creating competition among the companies. So in this scenario, the best way to promote a product is through Advertising. Moreover, for an innovative product like projector laptop aggressive advertising should be done before the launch of the product. Hoardings and T.V ads explaining certain features of the fictional product while not disclosing the name and keeping viewers in guess for some time will create some curiosity regarding the product. This type of ads should be done before launching while after the launch advertisements explaining the advantages of the product and the market that it would be targeting would be done. Sales Promotion This is the second most important tool to be used to promote projector laptop in this increasingly competitive market. The primary focus of sales promotion in this market would be consumer oriented. The Sales Promotion would be done soon after the launch of the product seeing the initial demand for the product. This would be dome through offering coupons and samples, introducing rebates, bonus packs and loyalty programs into the sales of laptops. By the integration of both the above mentioned market communication tools, companies can successfully promote their products in the markets. Resources Economic and Financial Resources The economic resources will depend upon the country in which the product is to be launched. As the company is planning to launch projector laptop initially in U.S, it forms the base of our economic analysis. U.S has always been a technology driven economy with demand of innovative, effective, and smaller technologies increasing day by day. Our product will be in line of the product that will meet technology demand of people of this economy. As the product is an innovation by Apple, speculations could be made that the product would be liked by the customers and it will meet the technology needs of the corporate. Also, as been launched by the reputed brand as Apple the product is expected to again additional market attention which will help in self advertising of the product. The projected financial resources available with the company are as follows: 2011 2010 Advertisement Cost 350,000 150,000 Sales Promotion Costs 150,000 200,000 Campaign Costs 100,000 100,000 Distribution Costs 20,000 20,000 Other Miscellaneous S&D expense 84,600 39,400 The Financial objectives for launching the product include generating a healthy return on investment. Before deciding on whether to go for a project the company decided upon it costs and advantages over the years. Companies typically calculate Net Present Value of the project or the product for a moderate period and then decide on the launch. The financial objective includes generating more revenues along with covering the initial investment cost over the years. Implementation Advertising is the most successful way of reaching the customers. With the increasing demand of technology products, the number of options for the consumers is increasing day by day. In the current scenario the supply of these products is increasing day by day thereby creating competition among the companies. So in this scenario, the best way to promote a product is through Advertising. Moreover, for an innovative product like projector laptop aggressive advertising should be done before the launch of the product. Though the budget for advertisement is only $150,000, the following steps will be taken to get maximum bang for the buck. Ads in local newspapers Advertisement in T.V Hoardings 5 1/2" x 8 1/2" fliers to target specific customers Business Cards to be given to everyone whom management team meets Advertising through the truck, which will be used during work The objectives of advertising for the organization must flow through prior decision relating to the target markets, brand positioning as well as the marketing program. The advertising goal and objective of the organization, relating to projector laptop is specific communication task related to achievement level that needs to be accomplished in regard to a specific audience for a specific period of time. The lorry is a perfect vehicle for an innovative sales promotion and massive technological innovations, plus low print costs, mean that high quality, short term promotions on the sides and backs of lorries are now a real option. The company will paste its posters produced on vinyl and use a unique system to attach them to Lorries which means that creative executions can be changed often and cheaply. These would be the same lorries used for business purposes. Promotional campaigns could involve people in collecting letters or words featured on different trucks, or even use trucks specially converted for sampling sessions. Moving or stationary; trucks can promote openings, sales or special events. . The primary focus of sales promotion in this market would be consumer oriented. The Sales Promotion would be done soon after the launch of the product seeing the initial demand for the product. This would be dome through offering coupons and samples, introducing rebates, bonus packs and loyalty programs into the sales of laptops. By the integration of both the above mentioned market communication tools, companies can successfully promote their products in the markets. Evaluation and Control A step-by-stem evaluation strategy for communicating the product will be followed whiles the launch. As discussed above that advertising would be the first communication tool used, which will start much before the actual launch of the product. So the company will introduce checkpoints on a time line where it would evaluate the successfulness of the strategy implemented till now. Firstly the evaluation of advertising as a strategy will be evaluated just after the launch of the product of how curious the targeted customers were regarding the launch of the product by seeing its advertisement few days before the launch. Accordingly, the company could change the mix of strategies employed by it. If the current promotional strategy implemented by the company is working then the company should further push the medium as it will form the primary means for reaching its customers. Same would be done with sales promotions after the launch of projector laptop. The control mechanisms the mechanisms employed for controlling the results desired and the mediums used to get a better response from the customers. As discussed above that a proper evaluation of the plan will be done by introducing the checkpoints, a proper control mechanisms will be implement such that the evaluation parameters could be used for the benefit of the organization. Feedback As discussed earlier, the target markets for the company would be all the organizations that currently use laptop or some other technology for holding meetings and presentations. As per the demographics, the product will be launched firstly all over the US as a test market to see it response. Based on the response the company can also adjust the price and features of the product suiting to the needs of various demographics. If the product launch becomes a success on US, its next target market would be Asia, specifically countries like India and China as these have high growth potential. Another industry that would be targeted for the promotion of the product apart from the companies is small and big educational organizations. Over the years, the tools and methodologies in the educational industry have transformed and no more manual system of education is followed. Every class has a projector for teaching the students through presentations and live seminar. This would also act as another target market for the launch of the product as popularity in the education sector could act as a further gateway to service industry. For all the targeted markets of the product, proper and timely feedback mechanisms will be used so that the communication plan could be effectively implemented. References  Fill, C. (2009) Marketing Communications: Interactivity, Communities and Content, 5th Edition, Harlow: FT Prentice Hall. Alvarado, U. &. (2001). Industrial Marketing Management. In U. &. Alvarado, Supply Chain Management: The integration of logistics in Marketing (pp. 183-198). Bill Birnbaum, C. (n.d.). Strategic Planning, Mission-Vision-Values. Retrieved Oct 2, 2010, from www.birnbaumassociates.com: http://www.birnbaumassociates.com/mission-vision-values.htm Brannen, W. H. (1993). Advertising and sales promotion: cost-effective techniques for your small business. Prantice Hall. Bruce Wrenn, S. S. (2008). 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