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Product Life Cycle – Promotions Essay

Final Project OutlineQuestions: I. Page 99 question # 2 # 2.

How would you advertise a toothpaste at the four different stages in its lifecycle?1. Introduction StageRisk seems to go hand in hand with the introduction stage because thechance of product failure is quite high. Profits will be below zero due tolow initial revenues while the toothpaste company covers large expensesfor promotion and distribution. We will need to let potential buyersaware of the new toothpaste availability.

These buyers must know thetoothpaste’s features, uses, and advantages over other brands. I’llassume this particular toothpaste company has the resources,technological knowledge, and marketing know-how to launch thetoothpaste successfully. Having these assets will be a great advantagefor the success of the new toothpaste brand. 2. Growth StageThe growth stage will be critical to the toothpaste’s survival because thecompetitive reactions to the products success during this stage willaffect the toothpaste’s life expectancy.

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I would expect the toothpaste’ssales to rise rapidly and profits to reach a peak and then start to slowlydecline. To counter act the sales decline we must try to strengthen itsmarket share and create a competitive niche by emphasizing thetoothpaste’s benefits. To accomplish these tasks we may need to cut prices to stay competitive and gain stronger market position. 3. Maturity StageOur toothpaste’s sales curve will peak and begin to decline as willprofits.

This is the result of intense competition, as similar brands arenow in the market. As a result many weaker competitors will besqueezed out or lose consumer interest. We must now turn ourattention to develop improvements in our product and find positivedifferences in our version of toothpaste. We will continue to makefresh new promotional and distribution efforts. We will concentrate onadvertising and dealer based promotions.

We must also look at anotheropportunity that exists. Marketers of mature products sometimesexpand distribution into global markets. We will need to research anddetermine if our toothpaste will be accepted and fit the needs of globalconsumers. 4.

Decline StageThe stage where our sales will fall rapidly. New technology or socialtrends are at times the culprits of this downward spiral. Due to lowprofits we may cut promotion efforts, eliminate marginal distributors,and eventually plan to phase out our toothpaste. I will assume ourtoothpaste company has more than one product, a company’s future is rarely tied to one product. As one product is declining, our toothpaste,other products of ours are at different stages of the life cycle.

Thereforewe will need to deal with prolonging the life of existing products andintroducing new ones. Our main objective as a company is to meetorganizational sales goals. As one product is declining, other productsare in the introduction, growth, or maturity stages for our company. II.

Page 140 question # 3# 3. “How do we sell this thing?” Rank each of theses approaches, in descendingorder of expected effectiveness. 10. Buy a Cheap Labor-saving Device. 9. Buy a Goat Instead of a Sheep.

8. Buy a Goat. 7. Goat. Guaranteed.

6. Don’t Let Someone Else Get Your Goat. 5. Give a Goat a Home. 4. Goat for Sale.

3. Save on a Goat. 2. Buy a Great Goat.

1. Buy an Affectionate Labor-Saving Device. III. Page 238 Question # 1#1.

What do advertisers mean by strategy? What are the key considerations in anadvertising strategy?Averting messages aren’t created on a whim or by a quick flash ofinspiration. Advertising is a disciplined art and involves a lot ofstrategic thinking. Advertisers create messages to accomplish specificobjectives, a process called strategic planning. Advertisers determinewhat you want accomplished, decide on strategies to go aboutaccomplishing, and implementing tactics which make the plan come tolife.

Advertising involves many different strategies. First there must bea strategic business plan that deals with the broadest decisions made bythe organization. Next advertisers have marketing strategies that willidentify key advantages for the product or firm in the marketplace. Lastly there are advertising strategy decisions that are made which arecrucial to all advertising situations.

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Advertisers must set objectives andidentify the target audience. The advertising product must be comparedto competing products features. The product must be position so it iswelcomed in the marketplace by consumers. Finally the advertisersmust create a brand image and personality for the product. These are all key considerations for the advertising strategy. Targeting an audiencefor the product I feel is the most important.

These audiences areequivalent to a target market, but often includes people other thanprospects, such as those who influence the purchase. Once the targetaudience is defined this lets the advertising planner zero in on the mostresponsive audience. IV. Page 265 Question #5# 5. Identify how the creative use of emotion can enhance each operation. Perception: In the text there is a great example of how the L.

A. CityFire Department got their message across that fireworks are dangerous. Their billboard shows the image of a child’s hand missing one finger dueto a fireworks related injury. The message here is personal andconveyed by the consumers that this could happen to someone in theirfamily or to them personally.

Awareness: Most people want to read information or news that isrelevant to themselves and things they care about. Advertisers createads to bring out this emotion in consumers. I remember the billboard ada few years back concerning N. A. F. T.

A. These billboards didn’tconcern every person or every worker. The NAFTA situation onlyinvolved a percentage of workers. But these ads brought the attentionto everyone who wanted to know more or thought they could help. TheNAFTA ads brought awareness to the subject and educated people onhow they can take action.

Understanding: Being aware of a ad message sometimes is not enough. The message must also be understood as well. Understanding meansthe viewer or consumer gets an active response from what they haveseen or heard. New car commercials are sometime ones that contain alot of information. Information on the brand, price, size, how it works,when and where to use it and so on.

With this information wesometimes create an emotion inside about the particular car. We maywant to go right out and buy it or take a test drive. Or we may simplyconsider it for a future purchase. All in all the commercial had createdan feeling of want for their product and as we all know “wanting” is anemotion.

Persuasion: A persuasive message will shape attitudes and touchemotions. How someone feels about your product or company may bejust as important as what that person knows about it. One examplecome to mind is last years Budwesier commercial. The one where thecurrent owner or CEO talks about the company’s family tradition andthat the way they make their beer hasn’t changed ever.

This is deffentilya persuasive commercial. They trying to convey that they are numberone in the industry, were there when we needed them and are aAmerican family business. V. Page 409 Question # 2# 2.

Hard-sell approach and soft-sell approach. . Hard-sell approachSoft-sell approach:I felt the original ad was bland and crowded. I really think they needed a realpicture of a Updike tub and if I were to do another ad I would put one in. VI. Page 440 Question # 6# 6.

Compare the differences in design, art, type and other elements in newspaper ads of expensive stores and lower-priced stores. Comparing Lazuras to K-Mart is really night and day. Lazuras has modelswearing their clothes and real pictures and settings. K-Mart has stillpictures of products and uses only a few colors. Lazuras’ ads comesstapled together like a small magazine while K-Marts is full sheets foldedto make a large paper insert. I think these differences are seen only to people who feel that one store issuperior to the other.

Sure Lazuras obviously spends more money on printads then does K-Mart but it really doesn’t mean anything unless your addraws customers in to shop. I personally think both companies to a goodjob with their advertising I’d just rather shop at Lazuras, at least forclothes. Lazuras always is having some kind of sale. When I receive a Lazuras ad Iknow they must be having another 36 hour last chance sale of some sort. A lot of times I don’t even look through the ad because I figure its thesame stuff as last weeks 36 hour blowout sale. K-Mart usually put theirads in the Sunday paper and advertises item that are commonly purchasedby customers and seasonal products.

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Their ads are two and three pagesand always has on the front cover toys for kids. I remember these ads fromway back when I was a kid. Both of these two company’s ad campaignswork and must be working well, because I continue to see them everyweekend. VII.

Page 469 Question # 5One jingle that I dislike is the Sharpe Ford song. Its a great piece of work,“were sharp and were the reason Sharpe is Ford, Sharpe is Ford”, located at 3 o’clock sharp on the 465 dial. That is perfect. Every time Ihear it I get a visual of the 465 dial and where Sharpe Ford is located.

Onedrawback though is that I can’t get the song out of my head the entire day. Another is a fairly new commercial for Giftpoint. com. They do a little riffrom a Christmas song and only say Giftpoint. com.

This is absolutelynerve racking and impossible to not sing the entire day I hope they take itoff the air soon. I did however look at their web page. I believe these adsdo reflect on the advertiser, sometimes good and sometimes bad. I simplyget annoyed but I tend to remember them and I think for the advertiser thatis good. In some cases I think the advertiser uses our memory as theirtool.

Create a annoying jingle and play it on the radio over and over. We’ve all heard jingles and said to our selves after the fact that it was thestupidest jingle we’ve ever heard. Two weeks later were singing it in theshower or as we walk through the Ivy Tech parking lot. The dumb littlejingles stick in our head and most of the times won’t go away. VIII. Page 501 Question #5# 5.

What ideas do you have for setting up some type of direct-response systemto decrease “traffic overload”. I think a good idea for Ivy Tech would be to have its own bookstorewebpage. Student could access the page on campus or at home. Theywould be able to select and purchase books online for all their classes. Thepurchases could either be sent by mail or have a in house system forpick-up. Many student purchase books with a credit card.

If student hadan option to not wait in the enormously large line chance are they wouldn’t. Also for the school they would be able to cut back on inventoryand may open up some room in side the bookstore. Overall I believe aonline system would only be the beginning. Ivy Tech could expand thispage to handle many more tasks that would save time and eventuallymoney. Marketing Essays

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Product Life Cycle - Promotions Essay
Final Project OutlineQuestions: I. Page 99 question # 2 # 2. How would you advertise a toothpaste at the four different stages in its lifecycle?1. Introduction StageRisk seems to go hand in hand with the introduction stage because thechance of product failure is quite high. Profits will be below zero due tolow initial revenues while the toothpaste company covers large expensesfor promotion and distribution. We will need to let potential buyersaware of the new toothpaste availabilit
2021-02-12 07:56:16
Product Life Cycle - Promotions Essay
$ 13.900 2018-12-31
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