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Advertising and promotion assignment 3

Advertising and promotion assignment 3

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21723317

NGEMA N

INTRODUCTION

Marketing is the very important department in business, for the company to succeed as its

promotes it business, selling product or service include research the market which the

organization entered. The marketers must learn how to communicate with their targeted

audience to learn more about their demands in order for an organization to produce what

consumer desires.

PRODUCT LINE EXTENSION

Is the use of an established product brand name for a new product item in the same product

category Line extension occur when a company introduces additional item in the same product

category under same brand name such as new flavor, forms color, added ingredients, packaging

size etc. Product line extension help company to identify and tend to needs of refined target

markets, if applied appropriately their advantage with the intended market ender’s.

Manufacturing car company can invest in a new version of V6 DSG model that is more advance

in terms of high technology level, new added features and a new upgraded look, more like an

upgraded version of a previous V6 DSG model. The junior marketer must first do a research and

be well informed in which what the target audience needs to be featured to an upgraded

model. Questionnaire and surveys can be used to collect the data.

INTERGRATED MARKETING COMMUNICATION

A careful combination use of marketing communication to achieve the desired organizational

communication objectives efficiently. It aims to support single positioning, planning and

consistency are great deal.

PRODUCT LIFE CYLE

Is the amount of time a product goes from being an idea to being introduced into market until

its taken off the shelves. The product life cycle consist of product, introduction stage, growth

stage, maturity stage and decline stage. This concept is used by marketers as a factor in

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deciding when it is appropriate to increase advertising, reduce prices, expand to new market or

packaging redesign. Product like people have life cycle, a product begins with an idea and

within the confines of modern business, it isn’t likely to go further until it undergoes research

and development and is found to be feasible and potentially profitable.

PRODUCT LIFE CYLE STAGES

PRODUCT DEVELOPMENT

For many new product concepts a product may exist only as word description, a drawing or

perhaps a crude mock-up, if the product concept passes the business test its moves into

product development, this where they turn an idea to an actual workable product. In this stage

the organization is attaining knowledge and finding prospects. During the product

development, sales are zero and the company’s investment cost amount is high.

APPLYING IMC TO PRODUCT DEVELOPMENT STAGE

The car manufacturing company marketer must develop new ideas as to how they going to

extend their products line in terms of creating a new version of V6 DSG model with the latest

high level of technology. The idea must be detailed so that it going to be able to arouse interest

to the consumers.

INTRODUCTION STAGE

Start when a new product is first launched. Introduction takes time and sales growth is apt to

be slow, profit are negative or slow because of the low sales and high distribution and

promotion expenses. Much money is needed to attract distributors and build their inventories,

promotion spending is relatively high to inform consumers of the new product and get them to

try it. Because market is not generally ready for product refinement at this stage the company

and its few competitors produce basic version of the product and these firms focuses their

selling on those buyers who are most ready to buy

APPLYING IMC TO INTRODUCTION STAGE

Manufacturing car dealer must update their technology in terms of the features of new model

that is introduced and the company must inform its consumers about brand equity in terms of

brand strategy. To inform about their new brand to their targeted audience they must use IMC

objectives and primary public relation must be use in applying IMC elements.

GROWTH STAGE

If the new product satisfies the market it enter the growth stage in which the sales start

climbing quickly. The early adopters will continue to buy, and later buyers will start following

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21723317 NGEMA N INTRODUCTION Marketing is the very important department in business, for the company to succeed as its promotes it business, selling product or service include research the market which the organization entered. The marketers must learn how to communicate with their targeted audience to learn more about their demands in order for an organization to produce what consumer desires. PRODUCT LINE EXTENSION Is the use of an established product brand name for a new product item in the same product category Line extension occur when a company introduces additional item in the same product category under same brand name such as new flavor, forms color, added ingredients, packaging size etc. Product line extension help company to identify and tend to needs of refined target markets, if applied appropriately their advantage with the intended market ender’s. Manufacturing car company can invest in a new version of V6 DSG model that is more advance in terms of high technology level, new added features and a new upgraded look, more like an upgraded version of a previous V6 DSG model. The junior marketer must first do a research and be well informed in which what the target au ...
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