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Table of Contents
IMC Strategy Effectiveness………………………………………………………………………………………………..……………….1
Communicating Customer Value…………………………………………………………………………………………..……………3
Building Customer Relationship………………………………………………………………………………………………………….4
According to the previous report we had presented in part one of our Integrated Marketing Communication plan of V ‘pure’- Energy drink, we explained who exactly will be our target consumers in Mumbai and how we are going to enlighten them about this healthy and budget energy drink, how it will profit the consumers with all the healthy ingredients on it to boost some extra energy in their daily life in a reasonable budget. It explained how will we reach out to the consumers and how will we communicate with them about all the good verities it carries. What strategy we will apply to compete with the other alternative energy drink products. How we will promote and keep expanding the target area and how will we maintain the relationship with the consumers and public. And how Mumbai and V ’pure’- Energy drink will be in mutual benefit with the help of this profit.
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In the second part of our IMC project I will be explaining how it will come to effect. How can we give life to the plan we have made for the V ‘pure’- Energy Drink to make its base in Mumbai, India. This part of the IMC plan is to understand the performance of the plans and strategy we made for it. The right way to acknowledge the progress of the plan can be done by using the methods given down below:-
- IMC strategy effectiveness
- Communicating Customer Value
- Building Customer Relationship
IMC strategy effectiveness
Good and intelligent IMC plans have a capacity to determine and secure a good future of a company on a long run.. To be able to make progress of IMC plan producers should be able to evaluate the progress of an IMC program, marketing communication tool and its influence on the target consumers should be calculated by the companies. The use of IMC plan has been proved to be one of the successful strategies and has been called the best changes in history of promotion and advertising. Any product can rule a market place if the IMC plan and its strategies can outplay the strategies of the competing product (Turjo). IMC plan can be effective with the help of different strategies such as follows. :-
- Branding strategy
- Pricing Strategy
- Promotion Strategy
- Distribution Strategy
- Branding strategy:-
Creation of an image of its product by the seller to attract and to convince the potential and target consumers as a plan set by the companies is branding strategy. A successful brand strategy is this genius plan that has a potential to tell all about the brand to its consumers without even actually explaining about it. A strong branding strategy holds the capacity to attract its consumer and help them to decide that this is the product they can really trust. But the key factor of running a product is to be loyal with its buyers. The product must be as good as it is said to be. There are different factors that energy drink can be tested by its customers. Some consumers can be based on how its tastes and some may examine it on the basis of its actual function (Energy boosting factor). As we explained in our previous part India is a country where a taste of a product they are consuming really matters and V ‘pure’ being an energy drink both factors must be combined together in order to have its reign in Mumbai for long term.
- Pricing Strategy: –
Pricing is one of the most important factors for a brand to be successful. Over pricing of a product can be a huge mistake to even establish in a market like India. Price of a product can be low down but this policy can only be used if there is strong competition on a market. Newly launching product can be priced average price but may use different strategies like buy 2 get 1 free, and discounts on whole pack. These strategies will not just sell the product but will also carry a self advertising tactic with it. Since we are targeting the average age range of 18-60 years old, most of these ranges of people are working professionals, athletes and students who need some extra boost of their energy level. As long as the product comes in different varieties of taste and is energetic, average price as of competing energy drink product like Red Bull, Monster Drink etc pricing range might not harm.
(Fab News, 2017)
One of the key factors of promotion is finding a good brand ambassador that may help take the product to the public, and the brand ambassador should be one that the public really like or adore or even respect. India is a country where technology is really growing faster than many of other countries in the world. The internet and social media like YouTube, Facebook and twitter and through TV advertisement are the faster way to get the message to its people. When it comes to advertisement India is smart and extraordinary there a lot of phenomenal ads creator in Mumbai, India itself, a good advertisement with a great personality with a V ‘pure’- Energy drink on his/her hands might even go viral all over the country. And the billboards around different places like different colleges and universities, sports center, Gym clubs and city areas will be a good choice to place. We can offer free drinks to the athletes and public figures in different functions. Retail stores can be placed near by the sports center, sponsoring different sports tournaments, short advertisement before a show in movie theaters or in a YouTube videos can earn customers. Since the customers themselves can be a biggest and trustworthy promotional tool it is important to maintain healthy relationship with them.
- Distribution strategy:-
Distribution strategy is a plan about how the manufacturer intends to supply their products to its target consumers. Different kind of manufacturer applies their own policy on how they are going to take their goods to intend markets. They can decide whether they are going to supply through their own supply department or they are going to partner with the trusted agents who will take their products from them to the customers. There are some companies who sell all their goods themselves opening their own exclusive stores in different places and some take their goods through the supply chains to distribute their products to their end customers. V ‘pure’- Energy drink should expand its hands not to an individual channel but to the entire group of customers that includes Wholesaler, retailer and the end users. Since the wholesaler and retailers already have a relationship with the customers and already set up stratagem to outrun the opponent’s theory of winning their trust, we can use their support to quickly expand our product to the market. To master our distribution strategy we can communicate to the customers through different channels asking thing like how and where they would like to deliver our product, what taste they would like to drink and whether or not they would like to get our product customized( Marketing Guides).
Communicating Consumer Value
In 2017 Burger king launched its Proud Whopper “New” in San Francisco’s gay pride week. While they claimed it to be produced for a limited time they invited people to try it, all this time they were selling the same product just using a different packaging with a different message on it that said ‘ We are all same inside’. This strategy helped them to storm their product all over the internet with 1.1 Billion impressions, USD 21 Million in earned media, 7 million views of their advertisement and it was a No. 1 trending topic in Facebook and Twitter (The top 10 PR & Communication Campaign Examples, 2017). What we can learn from this is just a small gesture or just a small message that let the users know we care about them can make a huge different in marketing any product. And because we will be targeting a group of customers our strategy will be the promotion mix section of marketing process. The promotion mix is a fusion between advertising, public relations, personal selling and direct marketing tool that the producer uses to communicate customer value and build customer relationship. A product reviewing application on smart phones where customers can suggest the company on what kind of flavor they would like to be added in our product, what modification they want on it. The better we know our customers the better we can appeal to their interest. We need to ensure that all messages we are sending to our customers through social media, billboards and online Medias should be consistent. And all the reviews the customers have made on should be sorted out in order to compete on the target market (Provost, 2014), (Cutting Edge), (Fab News, 2017).
Building Customer Relationship
We are producing goods for the customers and the customers are the end user of the product it is important for a company to maintain good relationship with customers. V ‘pure’- Energy drink will have to face very competitive market in Mumbai. Knowing customer values and meeting their expectation is how the relationship with customer will grow stronger and this is how the company will get consumers loyalty in return. One of the strategies of building customer relationship are doing good to each other, some methods companies can apply to attract consumers are giving gift cards or coupons, giving customers cards or loyalty cards to the loyal customers and face-to-face communication between customers and sales person, taking feedback from them are some strategies to build better customer relationship. Since we are not only targeting our end users as a customers, wholesalers and retailers are the customers that we need to support enough to supply as much as products as they can, V ‘pure’- Energy drink need to contact them frequently and hear things they have to say more often. We should often be motivated for ordering more. Same as for the end users they should be given price breaks for the larger volumes. The wholesalers have more customers to please than us so in order not only to help the sell more we can provide better front end sales support. And we often should provide them feedback forms to know what items they are supplying more and what customization is necessary in order to increase its supply (Tradegecko, 2018).
Looking at this report, it can be concluded that using all the above methods and strategies V ‘Pure’- Energy drink will be able to win trust of the customers and survive in Mumbai, India for long term. It is necessary for a manufacturer to know what their customers really want, how their product can tempt more of its users. In a competitive energy drink market like energy drink it is essential to know what price are the users ready to pay without second thoughts on it for as good energy drink as V ‘Pure’- Energy drink. In a new market where the customers have no idea about the company and how good it is for them to consume it, it is essential that we find some ways that could refer our product and its qualities in behalf of V ‘pure’- Energy drink. And it is our responsibility to make our product available the where ever our consumers wants it. In these modern years it is far to easier to deliver their needs and we need to do the research on how flexible we can do drop ship the goods to our valuable customers. It is important to recognize what the consumers want to be offered rather than what we have got to offer. As the time changes it is important to sense what things are to be improvised to satisfy our valuable consumers. It is important to let the valuable consumers know about how valuable they are to the company, and it is necessary that the company need to let them know that how thankful they are for all the support they are getting from the loyal users. It can be done by giving festival discounts, giving gift cards to the long term discounts, providing bonus product now and often and even awarding them loyal customer certificates which can somehow delight them. And as I said before the customers are the greatest advertisement for any product, it will be on the long run as long as the company is able to please them.
- Marketing Guides. (n.d.). Retrieved from Marketing Mo: http://www.marketingmo.com/strategic-planning/how-to-develop-your-distribution-channels/
- Cutting Edge. (n.d.). Retrieved from https://cuttingedgepr.com/free-articles/marketing-communication/communicate-value-customers/
- Fab News. (2017, October 2). Retrieved from Frucor Suntory promotes newly launched ‘V Pure’ energy drink in latest campaign via TKT Sydney: http://www.fabnews.live/frucor-suntory-promotes-newly-launched-v-pure-energy-drink-in-latest-campaign-via-tkt-sydney/
- Favnews. (n.d.). Retrieved from V-Pure-Amazonians: http://www.fabnews.live/wp-content/uploads/2017/10/V-Pure-Amazonians.jpg
- Provost, P. (2014, May 5). 6P Marketing. Retrieved from 7 Steps to Develop an Effective Marketing Communications Strategy: http://www.6pmarketing.com/articles/branding-science/72-marketing-strategy/359-7-steps-to-develop-an-effective-marketing-communications-strategy
- The top 10 PR & Communication Campaign Examples. (2017, July 12). Retrieved from Augure: https://augure.launchmetrics.com/resources/blog/communication-campaign-examples
- Tradegecko. (2018, July 3). Retrieved from 6 tips for awesome wholesale B2B customer relationships: https://www.tradegecko.com/blog/6-tips-for-awesome-wholesale-b2b-customer-relationships
- Turjo, M. (n.d.). Academia. Retrieved from MARKETING STRATEGY AND ANALYSIS OVER ENERGY DRINK SPEED: http://www.academia.edu/31387258/MARKETING_STRATEGY_AND_ANALYSIS_OVER_ENERGY_DRINK_SPEED
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