Explain various elements of promotion mix that you will use for newly launched product “Lite Air Fryer.” The price of a product is Rupees 8000/-. The USP of the product is that it consumes 80% less oil when compared with a traditional method of frying. The company is offering five years warranty on the same. Some additional features are:
The promotional mix is the essence of the making of the product and the ever-increasing boundaries of a sphere of influence of a particular product. Marketers use the promotional mix which is a blend of five promotional variables which in turn has a huge impact on the sales and brand awareness of a particular product. A better promotion mix allows the product to gain leverage against its market competition. So, let us assess the ‘Promotion Mix’ for the given product called Lite Air Fryer.
Target market:
Before directly focusing on a promotional mix, we need to define our target market first. The target market is the segment of the society or masses who need your product or services. So, we need to carry out an extensive marketing research to understand the demographics, behavior patterns, their attitudes, and needs of individuals. Using all the data we have collected, we need to paint a picture of our ideal customer, their locations, their ability to buy the product and most importantly their expectation from the product.
Advertising:
It is the most basic and the most important stage in the promotion mix. It is an any paid form of media communication. We can go for Offline as well as an Online method of advertisement. We can post our ads in newspaper and magazines. Most of the people, especially our prime target customers, the women can be found shopping in the supermarket. We can advertise our product by distributing flyers in a supermarket.
Let us consider the option of using Google PPC for Online advertisements. We can also make a proper use of social media channels. Using Facebook and Twitter can be a crucial step to communicate with an enormous chunk of potential customers. We can advertise our product based on our USP which says, ‘80% less oil consumption.’ We can post the photos, videos and an interactive blog posts on social media channels to attract the attention of the readers. Furthermore, we can use Facebook to create various contents such as quiz contests or ‘Caption This’ content where we can gift our products to the contest winners.
Public Relations:
Public relation techniques will help us to build goodwill towards our product by increasing the value and image in public’s eye. Public relation is not just dealing with the negative publicity, but it is majorly gaining the positive attention from the community.
Sales Promotion:
Who doesn’t love extra incentives or discounts? A customer’s purchasing decision gets changes if a company is adding something extra or giving a high discount on their product. We can motivate our clients to buy our products.
Direct Marketing:
It is the method of advertising where we can communicate with our potential customers in a more personalized way than our usual advertising methods. We can imply the following methods for direct marketing,
Personal Selling:
Let us also incorporate the human touch into advertising and selling our product. Our salespeople can work on informing, persuading and remind our customers about our product. We can use our research data and create a list of potential buyers in a particular area.
So, if this promotional mix is executed smartly and with a passion towards growth, the ‘Lite Air Fryer’ can easily get a huge competitive advantage over other competitors in the market. Our primary motive for creating a promotional mix is to convince the clients the excellent customer experience which they are expecting before buying the product. We can achieve this by wisely using our promotional tools and creative client-oriented promotional campaigns.
- Timer with ready signal and auto shutoff
- Cord storage keeps kitchen surface neat and tidy
- Dishwasher-safe parts for easy cleaning
- Adjustable temperature control for the perfect result
- Rapid Air technology fries the tastiest food without the oil
- Recipe booklet full of inspiring recipes and tips and tricks
The promotional mix is the essence of the making of the product and the ever-increasing boundaries of a sphere of influence of a particular product. Marketers use the promotional mix which is a blend of five promotional variables which in turn has a huge impact on the sales and brand awareness of a particular product. A better promotion mix allows the product to gain leverage against its market competition. So, let us assess the ‘Promotion Mix’ for the given product called Lite Air Fryer.
Target market:
Before directly focusing on a promotional mix, we need to define our target market first. The target market is the segment of the society or masses who need your product or services. So, we need to carry out an extensive marketing research to understand the demographics, behavior patterns, their attitudes, and needs of individuals. Using all the data we have collected, we need to paint a picture of our ideal customer, their locations, their ability to buy the product and most importantly their expectation from the product.
- Now the customers for the Lite Air Fryer will be mostly the middle-class and upper-middle-class people who can afford to pay 8,000/- for a Lite Air Fryer. We can target this class, as they are to the stage of worrying the usage of extra oil and their deteriorating health which might make them the victims of cardiovascular diseases.
- Also, the people who go for jobs on weekdays and go for an outing on weekends can use this fryer as a barbecue for picnics.
Advertising:
It is the most basic and the most important stage in the promotion mix. It is an any paid form of media communication. We can go for Offline as well as an Online method of advertisement. We can post our ads in newspaper and magazines. Most of the people, especially our prime target customers, the women can be found shopping in the supermarket. We can advertise our product by distributing flyers in a supermarket.
Let us consider the option of using Google PPC for Online advertisements. We can also make a proper use of social media channels. Using Facebook and Twitter can be a crucial step to communicate with an enormous chunk of potential customers. We can advertise our product based on our USP which says, ‘80% less oil consumption.’ We can post the photos, videos and an interactive blog posts on social media channels to attract the attention of the readers. Furthermore, we can use Facebook to create various contents such as quiz contests or ‘Caption This’ content where we can gift our products to the contest winners.
Public Relations:
Public relation techniques will help us to build goodwill towards our product by increasing the value and image in public’s eye. Public relation is not just dealing with the negative publicity, but it is majorly gaining the positive attention from the community.
- We can PR campaigns for our product using the massive media coverage for our grand opening and product launching ceremony. Let the people know that we are building something innovative to let people eat whatever they want and maintain their health at the same time.
- We can take part in various events, community activities and place our products in exhibitions, where we can present and advocate our product to the highly targeted customers.
- We can promote our product with press releases and newsletters to make people understand how we have found the solution on unhealthy eating habits and turned it around with our robust technology packed in a multi-usable automatic fryer.
- Use our social media channels to engage with a huge customer pool to retain our loyal customers and to gain new ones.
- Tie up with bloggers and professional chefs to endorse our product on their blogs and cooking shows.
Sales Promotion:
Who doesn’t love extra incentives or discounts? A customer’s purchasing decision gets changes if a company is adding something extra or giving a high discount on their product. We can motivate our clients to buy our products.
- We can offer a massive discount for first 500 buyers within a given timeframe.
- Provide a mutually beneficial EMI system to purchase products.
- Professionally network with other relevant businesses and offer exclusively free products such as cleaning brush, fryer basket, fryer filters, etc.
- We can provide guaranteed free delivery within one day for our last 50 fryers.
Direct Marketing:
It is the method of advertising where we can communicate with our potential customers in a more personalized way than our usual advertising methods. We can imply the following methods for direct marketing,
- We can choose the slots and channels based on our target market and advertise our product on radio and television.
- You can send them letters or just calling them can be profitable. We can employ the telemarketing, email marketing, mailing coupons & catalogs methods.
Personal Selling:
Let us also incorporate the human touch into advertising and selling our product. Our salespeople can work on informing, persuading and remind our customers about our product. We can use our research data and create a list of potential buyers in a particular area.
- An order getter salesperson can engage with clients and promote our product. Their persuasion methods can help us to win over customers.
- An order taker salesperson works passively and waits for the customers to find them from the advertisements and get the product from them.
- Our sales person can go to the interested buyer's houses and give them a free demo of our products.
So, if this promotional mix is executed smartly and with a passion towards growth, the ‘Lite Air Fryer’ can easily get a huge competitive advantage over other competitors in the market. Our primary motive for creating a promotional mix is to convince the clients the excellent customer experience which they are expecting before buying the product. We can achieve this by wisely using our promotional tools and creative client-oriented promotional campaigns.
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