Marketing Processes and Planning - Assignment Example

Marketing Processes and Planning PART 2 Task Marketing analysis and strategy 1a PEST analysis Political factors: Since computer games are likely to influence the emotions of people, and the situation in turn may threaten the law and order of the nation, governments strictly monitor and censor the contents of the computer game frames. Economic factors: In countries like United States and Japan, the computer game industry already significantly contributes to the overall GDP. Therefore, the governments will be interested to welcome this new computer and robotic racing game called ‘Anki Drive’. Social factors: A range of social factors including income distribution, lifestyle changes, attributes of work, and the level of education can influence the computer game industry. In western countries, people are greatly interested in computer video games, and this situation is favourable for the planned business venture. Technological factors: The technological landscape has unimaginably advanced over the last two decades and some of the recent terrific developments in technology, particularly in robotics, add value to the Anki Drive proposal. The growing popularity of internet also contributes to the feasibility of this business concept. 1.1b SWOT analysis Strengths: The Anki has competitive advantages over its rivals in terms of technological advancement, and the Anki Drive is backed by a set of strong technological features. Excellence in innovation is another major strength of this new business concept. Weaknesses Referring to the video presentation by the Anki CEO, it is clear that Anki Drive is fairly a new concept unfamiliar to the computer game industry. Therefore the uncertainty associated with the market acceptability of the Anki Drive is very high. Threats Fast growth of the online games sector turns out to be a potential threat to this business plan. In addition, increasing government regulations and adverse financial market fluctuations raise a set of serious challenges to the Anki Drive. Opportunities The recovering global economy offers great opportunities for this business because today countries are liberalising their market policies to capitalize on the current economic context. 1.2 Marketing objectives and strategies Referring to the Segmentation, Targeting, and Positioning (STP) strategy, it is better for the company to target a particular market segment, say people aged between 14 and 25, in the initial stages to position its new product successfully. Anki has to invest a fair amount of money in promoting the innovative features of the Anki Drive and thereby making it well recognizable. 1.3 Segmentation criteria The segmentation criteria must address age, occupation, social class, and education status of people. Clearly youngsters are likely to purchase this product as racing games like Anki Drive can greatly influence the mindset of young people. Studies indicate that highly occupied professionals find time to play newer computer games to minimise their high level worksite stress. 1.4 Targeting strategy The Anki Drive must specifically target school and college students, IT professionals, management executives, and online workers, because common people who are technologically uneducated are less likely to show any interest in this product. The firm can make use of social networking websites like Facebook and Twitter to identify other target markets which best fit this product’s features. 1.5 Influence of buyer behaviour Consumer behaviour can have a great influence on the marketing activities of the Anki Drive in the context of fast changing socio-economic conditions. Today consumers give increased focus to online shopping considering the advantages of time, money, and convenience, and hence the Anki Drive’s marketing operations must be centred on internet (Bidgoli, 2004, p.273). 1.6 Positioning strategy In order to better position the Anki Drive in the market, the firm should focus increasingly on internet promotion channels like social websites and online product discussion forums. This positioning strategy may assist the organisation to gain wider market coverage and to take advantages of cheap promotion costs. Task 2 – The marketing programme and implementation 2.1 Importance of a balanced marketing mix A balanced marketing mix is particularly important for the Anki Drive to achieve marketing success. The company pays particular attention to innovation and quality while developing its products and services so as to gain competitive advantages. However, the product features alone would not assist the company to achieve marketing success unless it gives equal focus to other elements such as price, place, and promotion. 2.2 Features of the distribution strategy An effective distribution strategy must be capable of serving the needs of targeted segments effectively, reducing distribution costs, and increasing the volume of products moved from the delivery point to the end consumers (Longenecker, et al, 2008, p.648). The Anki must offer online shopping facilities to it consumers to purchase the Anki Drive online as this strategy can add value to customer convenience. 2.3 Pricing strategy Considering the product type and the chosen target market, it is recommendable for the organisation to follow a high-price strategy for marketing Anki Drive. Evidently, computer games will be replaced by newer ones, and therefore this pricing strategy is better for the Anki to realise maximum profits before a more innovative robotic game is launched. 2.4 Planning promotional campaign The promotional campaign for the Anki Drive must be designed to make use of the growing influence of the mass media, specifically internet. The promotional campaign may also include techniques like sponsoring television shows or major sporting events. 2.5 Advertising campaign In order to spread awareness of the Anki Drive among the identified target audience, the firm must rely greatly on television Ads, teleshopping programmes, social media Ads, and internet-based advertising. It is advisable for the organisation to conduct daily contests to position the brand in the minds of customers targeted. 2.6 Implementation of the advertising campaign To implement this advertising campaign effectively, the Anki may support the initiatives launched by major environmental/health organisations or other public welfare groups. Since modern people are increasingly conscious of health and environmental safety, the Ads featuring the corporate responsibility efforts taken by the organisation would be better to influence the target market. 2.7 Extended marketing mix Referring to the concepts put forwarded by Curtis (2007, p. 191), the elements of extended marketing mix that might be considered for the marketing success of Anki Drive include people, process, and physical evidence. Evidently the potential of the workforce and flexibility of the processes can significantly impact the way the market plan is launched. 2.8 Executive summary of the marketing plan A balanced marketing mix is specifically inevitable for the Anki Drive to achieve marketing success because it determines the way the product is marketed. An effective distribution strategy based on internet shopping can play a notable role in increasing customer convenience. Since the Anki Drive is not a product which is likely to dominate the market for a long period, a high-price strategy is recommendable for the organisation. The organisation’s advertising campaign may include tools like television or social media Ads and sponsoring major sporting events or television shows. Corporate Social Responsibility (CSR) must be a major aspect highlighted in the advertising campaign because it is the best way to influence environmental/health conscious modern people. Task 3 – Different contexts and opportunities 3.1 New product concept Considering the strengths of the Anki business, it is advisable for the organisation to design a robotic car that can move around without the help of a driver. Although many robotic companies have been attempting to develop a robotic vehicle for years, none of those efforts could be considered successful. Therefore, if the Anki can develop such a robotic car, it would be mind-blowing innovation of the 21st century, and the firm will be able to attract and acquire customers from a different market segment. 3.2 B2B marketing When the Anki Drive is marketed to businesses (B2B marketing) rather than individual consumers (B2C marketing), the Anki can trim down its promotional costs to a great extent. When the organisation engages in business to business marketing, it does not need broad distribution networks and huge warehouse facilities (Miller, 2012, n.p.). 3.3 Difference between international and domestic marketing International marketing to clients across the globe may differ from domestic marketing in the UK mainly in terms of promotion and prices. Since cultural attributes of countries may differ significantly, it is not practical to use same promotional techniques while dealing with international marketing (Aswathappa, 2010, pp.501-502). In addition, the price pattern used in UK may not be affordable to clients from developing or Third World countries. 3.4 Expansion using social media Today internet market leaders like Google, Facebook, and Twitter can have great influence on people’s daily lives and therefore an effective strategic plan for the new product can involve expansion with these market players (Barker et al, 2012, n.p.). Task 4 – Critical analysis The marketing plan proposed can greatly benefit the Anki to meet its marketing objectives with regard to the promotion of the Anki Drive. This marketing plan gives particular focus to the implementation of an advertising campaign that emphasises the firm’s commitment to CSR initiatives. Evidently such a marketing campaign would be more effective to influence people than using traditional promotional techniques. It is strongly ecommendable for the Anki to focus more on social networking websites like Facebook, Twitter, and You Tube to create an awareness of the Anki Drive among the target audience. The internet based promotion would assist the company to improve its accessibility to more number of customers without spending huge costs. The organisation may also sponsor sporting events like soccer, cricket, or athletics to spread its brand image. It would be a better idea for the organisation to hire sports/movie celebrities to appear in the Anki Drive Ads. However, this marketing plan cannot assure 100% success because this computer and robotic racing game is something new to the audience and hence its market acceptability is still uncertain. References Aswathappa, K. 2010. International Business. New Delhi: Tata McGraw-Hill Education. Barker, et al. 2012. Social Media Marketing: A Strategic Approach. US: Cengage Learning. Bidgoli, H. (Ed.). 2004. In The Internet Encyclopedia, Volume 2. John Wiley & Sons. Curtis, T. 2007. Marketing in Practice 2007-2008.US:Routledge. Longenecker, J. G. et al. 2008. Small business management. US: Cengage Learning. Miller, M. 2012. B2B Digital Marketing: Using the Web to Market Directly to Businesses. UK: Que Publishing. Read More