1. A. The target market for breakfast cereals ‘Yum Oats’ does not limited to any age group or gender but it is favorite of health conscious people. We can define the adults of 18 to 35 years old and people who are having sugar and cholesterol related health problems, as main target market. Children and other age group members are secondary target market. In other age group the main focus would be on older people as they are the one who faces maximum problems related with sugar and cholesterol.
1. B. The main objectives of marketing communication and how they will be used are as follow:
Inform- Communication activities will be focused on developing interest among target market about the product and to make them aware about the advantages of the product. This objective will help target market in understanding the product and will develop a stimulus to purchase the product.
Persuade – The main aim of this objective is to convince target market that Yum Oats is best product in its category and offer best nutrition. This objective will also focus on differentiating product from existing competitors.
Remind - After making target market aware about the product and its advantages, the final objective is to develop brand recall so that customer make purchase of the product.
1. C. For an effective communication, it is very important to develop strategy to gain the attention and attract all different target markets. For each segment Yum Oats is targeting, the communication tool will be different. The reason for selecting different tools for different segments is that one tool will not be able to grab attention of all target markets. A uniform message will be sent across through different communications tools.
For young population, catchy advertisement will be telecast on business and entertainment channels during prime time hours. To capture old people advertisement on health channels during morning hours will be telecast. The advertisement will be informative and provide details about all the benefits of product. Advertisement in top selling news paper will also be given at certain intervals. During initial product launch sales promotional activities will be carried out like sample pack distribution, discount offers, buy one get one free and offering the sample pack along with any other top selling item. Public relation media will also be used by the company to gain positive publicity. Advantages of electronic and print media are that they capture huge base of audience in less time. Public relation media is less costly and help in developing positive image of company.
The disadvantages associated with print and electronic media is they are costly affair for organization as they involve huge cost especially electronic media. Sometimes a very catchy advertisement dominates over the message of advertisement. It attracts consumers in such an impressive way that customer miss the information given in the advertisement. On the other hand Public relation media capture a low base of audience.
2. After analyzing various activities, we have finalized soccer match as sponsorship activity. The game is very popular in city and will be able to gather a huge audience. Honda Company finalized the venue of game which is situated in central of city and accessible to all. For successful event and to ensure huge audience, we have advertise the information about event on company website, local news papers, hoarding at popular commercial places and pamphlet distribution in college and other crowded places. After seeing the overwhelming response of audience and ticket booking status, various companies considered their sponsorship for the event and given huge fund for their branding during event. To ensure proper branding of Honda Accord in the event following things will be done; Display of Honda Accord at the game venue, all players will be bearing the t-shirt having logo of Honda. Banners and posters will also be displayed during the event. Any promotional offer company wants to announce during the match will also be done.
3. during past few have years we have seen good growth in the field of Radio Advertisement. Due to introduction of various radio channels and advance technology, people enjoy listening radio at any place and any time. Technological advancement made it more comfortable to carry radio in the pockets and huge audience listen to the radio. The large base of audience attracts many companies to advertise their products on the radio. The advantages of Radio advertisements are- universal medium, easily accessible at any time, low cost involvement, and can create impact by only using voices. This medium is less time consuming.
The disadvantages of Radio advertisements are- impact of advertisement is less than other mediums as it does not involve any creative design, themes and pictures. People tend to forget such advertisement easily. This medium is mainly works for informative advertisements.
4. While making advertisements for their own brands and broadcasting them, companies breach the rules and forget ethics which is not a good practice. The companies use dual meaning slogans, punch lines and openly make mock of their peers very often. In present era advertisements are crossing any limits to attract the audience so that they miss communicate the product to the audience. If we look the advertisements of men’s deodorants we will see, it attract many women’s but in reality it is not true. Just to make advertisement very catchy companies shows this concept to audience. legislation, codes of conduct and ethical perspectives are directly linked with each other, all companies need to follow the codes of conducts and implement ethical practices. If any company does not abide with codes of conduct and implement unethical practices, then company is liable to be booked under the relevant provision of law.
5. I would like to describe a very interesting advertisement here which I found very creative also. In this piece of advertisement a kid goes to a monastery and expresses his wish to learn the martial art, the monk teaches him and gradually he learns all the art and becomes adroit in his adult age. Finally the monks accept that young boy as a member of the monastery only when he makes a mark on his forehead by striking his head over a Pepsi can.
6. Marketing Communication budget is an important part of overall marketing communication strategy. On average companies allocate 9 percent to 12 percent of overall budget to marketing communication activities. While developing marketing communication budget it important to consider the type of target market company want to capture, variety of products need to be communicated to the audience, what all mediums of communications will be used, what will be the frequency etc. based on the last year budget and achievements of marketing communication activities, one can identify the changes need to be made in coming year. After calculating the cost of changes need to be made and rate acceleration of various media one can finalize the cost need to be added on in previous year budget.
References
BizInfoNetwork.Org . (n.d.). Retrieved December 3, 2011, from www.bizinfonetwork.org: http://bizinfonetwork.org/content.php?id=213&siteName=Growing+a+Business
OrganizedLeader. (n.d.). Retrieved December 3, 2011, from www.organizedleader.com: http://organizedleader.com/3-key-objectives-to-marketing-communications.html
