Keller Advertising Agency is one of the dominant agencies that have dominated the advertising market, due to its diverse client portfolio and the solid purchasing power in all the chief mass media formats. Our company has been handling various advertising campaigns of blue-chips companies. Chief international clients have chosen us as their advertising partners in the global market. These connections and emphasizes our well balanced client portfolio and the level of credibility they have on us. Our company has consistently maintained a big share in the mass media formats in most countries especially the television which bears the biggest volume in the advertising sector. Our shares far outrun that of the competitors. Furthermore, our company is always to the lead in domestic marketing due to our planned preparations in top media categories especially the internet.
Our company aspires to serve its clients by providing answers to challenges they face presented by the consumer lifestyles, the environment, and the changes in the society’s perception on the various products. Our company offers a wide range of services, it provides a solution-building associate that has the ability to attend to the various client problems that involve business activities and marketing procedures, at both the commercial and managerial levels. Our company has strategized itself in such a way that it can serve societal desires and advocate innovation within the business fields.
Considering that eReader is a result of digital technology, our company will respond with high level integrated digital solutions to advertise the product in a manner that the entire target market will be reached in the end. Our company combines both campaign preparation and creativity; things that are very essential in comprehensive advertisement.
Product Naming Strategy
I recommend that LibraTech Company names the product as eTechReader. This name clearly ascribes the characteristics of the product. I choose this name because of many reasons that include but not limited to easy memorization and recognition. It is also evident that the name is a made-up spelling and very appropriate. This name is meaningful and credible; it describes its quality of being a product of technological innovation since it has technical features like flip-page and fabulous full color. This name works within and across all cultures, geographic boundaries, and product categories. eTechReader is timeless in a way that it will be relevant as the company progresses, since it will be possible for the company to date its product irrespective of its age.
On the legal side, this name is safe and competitively well guarded. Additionally, having a descriptive name like eTechReader will give customers an idea of what your product is before even using it, considering that eReaders are used online; a descriptive name will give internet users an idea in the search engines. This name shows the extent of creativity; it does not modify the existing popular brand names. It’s an easy name to spell and commemorate.
If your company adapts the name eTechReader, it will be able to achieve separation from its opponent companies and demonstrate to its consumers that they are unique and technologically oriented. Additionally, the company will be able to create long lasting and positive rendezvous with their consumers. The name due to its ease of spelling will be hard to be forgotten. Every unique and relevant company name like this is shows creativity, uniqueness in its brand name, thefore it’s recommendable for LibraTech to adopt it.
Research
With effective marketing research, our company should be able to establish the product’s likelihood to sell, target market demographics and also the appropriate areas to conduct advertisements (Zikmund & Babin, 2007, pg, 184-306). In order to obtain the information needed, my company will formulate and develop a way of gathering the required information. This crucial information will be obtained by my team from three sources; the primary sources, secondary sources and the electronic databases. Using the secondary sources from the competitor companies such as publications and inventories my team will be able to establish the definite methodology to capture the target market attention, it will also conduct research though surveys and internet to gain the crucial information. The results obtained from the sources outlined will be analyzed by our special team in order to establish the best advertising plan.
With the various eBook readers in the market, I had to choose the ones that have dominated marketplace the most. I identified three dominant devices, the Amazon kindle, Kobo and the Nook. I choose these devices based on their explicit designs, memory space, battery life and additional unique features, I was able to identify these devices that are more likely to bring competition in the market.
Amazon kindle
Kobo E-Reader
Barnes & Noble Nook
Many customers have been psyched by this eReader, this product is faster and efficient than its earlier versions. It is slimmer, lighter and has a big inbuilt memory space and a long life battery. Its Wi-Fi is one of the cheapest in the market, this has been used as an advertising strategy by the company. The product has well executed the keyboard and the D-pad, its screen is also well contrasted in a way that it virtually glows in the dark.
Despite the fact that this device has gained favor in some way, the consumers in one way or the other still not satisfied. They do not like the fact that the device has no memory slot and also that even for it to load the common types of documents one has to email them to the device, rather than just drag them. It also does not play good with ePub books from different sources.
Kobo eReader is designed in a way that its weight is comparable with that of a typical paperback book. In order to attract its customers; the company offers 100 free e-books. Additionally, the kobo interface is designed in a way that is more like the first generation iPod, making it easier for the consumers to understand how to use it.
As much as the Kobo’s simplicity attracts many customers, it is the slowest eReader of all. This product does not have Wi-Fi or 3G for uploading content. It supports a few numbers of formats excluding audio formats. Considering that the price of this product is relatively higher compared to other eRreaders, makes it difficult for the product to compete with other similar products.
The Nook is a well designed calm device with a very comfortable size and weight for a long term reading. The device has an explicit main display screen that that refreshes relatively faster; it also features a distinctive color touch screen below for easy navigation. What makes the customers more excited about this product is its ability to ‘loan’ an eBook to a friend for up to a fortnight for free. The Nook users are in a position to read eBooks for free every time they shop in Barnes and Noble store, where they can easily get special content.
Despite the good customer friendly features, this device lacks the standard hardware power, flipping through the library in this device involves jabbing at a slower –responding color touch-screen. It is also unfortunate that the device cannot display txt, rtf and other general file types.
Following the differences in advertising and marketing strategy, it is clearly evident that most of the products have failed to meet the customer’s needs basically because it may be having either: a low loading speed, big meaningless size, complicated, short battery life. My company will incorporate the weakness in these companies in order to formulate out an effective advertising strategy.
It’s a point of making the Libretech product different and meaningful from the other products in the eyes of the consumers that matter a lot (Diller & Rhea, 2006). My company will formulate an internal advertising strategy that will enable the LibreTech eTechReader gain favor from the target market. Considering that the LibtreTech Company as unique features like flip-page technology and fabulous full color, my company will use this to eliminate the worry of operating poor system device, our company will insist on the unique features of the device, attracting customers hence boosting the profits with minimum advertising cost. Generally, we will create awareness of the new brand by delighting and offering promotions that will foster the adoption of the new system.
Advertising Strategy
Target Market
The LibreTech eTechReader targets a wide market that includes students, professionals, businessmen, corporate individuals, and all technologically-savvy individuals. Majority of individuals from these market segments have specific needs. Students love to access their e-libraries and online books using sophisticated gadgets, and the LibreTech eTechReader provides the features needed to fulfil their needs and preferences. This can be attributed to the increased supply of e-book readers from many a publisher. Professionals and corporates love to access important files while on the go and process important company information using the LibreTech eTechReader. Equally, businesspersons demand the latest technology and are willing to pay premium prices to use the features of this gadget to access business magazines and newspapers.
Consumer behavior Issues
Development in the e-book market is steady coupled with the rapid change in consumer behavior and attitudes. There is no doubt that there is an increasing trend of e-book purchase from the consumers in both e-book and print formats. The development of apps for purchasing e-books has also been on the rise over the past few years coupled with the increase in the number of individuals purchasing these books from e-book retail companies such as Amazon. While majority of consumers in the e-book market prefer dedicated e-readers for their e-book reading functions, a considerable number of them are showing increased interests in multi-function devices such as Smartphones and tablet devices.
Speaking of purchasing decisions, statistics from PriceGrabber.com (2012) reports that given the increase market share gain in the e-Reader market, 1 out of every 20 consumers owns an e-reader while more than 30% of the consumers in the US plans to purchase an e-Reader within the next 12 months. Other attractive features of e-book readers are portability, multi-functionality, touchscreens, and price. Consumers prefer portable e-readers that can perform other additional functions other than reading e-books. Though not a major deciding factor, e-book readers must be built with a touchscreen. However, pricing is a major deterring factor for many a consumer in the e-book reader market. In the US, consumers are willing to pay anything less than $250 for an e-book reader (PriceGrabber 2012).
Overall strategy
Our overall advertising strategy is aimed at positioning the LibreTech eTechReader as a unique e-book reader that synthesizes the opportunities and needs of e-book consumers. Other than satisfying the needs and requirements of consumers, the LibreTech eTechReader will be advertised in such a manner that it elicits emotional connections, communicate the value of the LibreTech eTechReader in visual, auditory, and exploration of individual and social roles of the consumers.
Advertising message
The advertising message for the LibreTech eTechReader will be designed to contain three major components within the message. These components of the advertising message include the value proposition, the appeal, and the slogan (Kotler, & Keller, 2009). The appeal will be designed to capture the attention of the audience while value proposition will speak the reasons why consumers should be attracted to the LibreTech eTechReader. To ensure that the LibreTech eTechReader stands out from the competition and remains edged in the minds of the consumers, an appropriate slogan will be designed.
Based on the concepts above, LibreTech will market the LibreTech eTechReader as the best thing to have happened to the e-book readers market with the capability to draw emotions and enable readers to be submerged in the e-book content. The LibreTech eTechReader is built with the latest and most innovative technology. The screen displays clear textual graphics with 3D capabilities. The LibreTech eTechReader will be marketed as having the fastest processor for easier reading and faster browsing needs. The LibreTech eTechReader is “Simply the best e-book reader in the market and definitely has no-equal.”
Advertising campaign-Advertising strategies and communication tools
TV advertising is not only an audience builder but it also improves the overall credibility of the company and the product. Viewers can also have the opportunity to see the product being offered in 3-dimensions thereby optimizing the response from the consumers. This strategy is also very costly to run (Kotler, & Keller, 2009).
Press advertising is ideal for the marketing the LibreTech eTechReader because it is capable of reaching a substantial number of consumers in different target audiences. This will be important in terms of cost reduction for the advertising campaign. A minimum number of consumers can be reached using this strategy and it fails to offer practical explanations.
Radio Advertising is capable of reaching media audiences that cannot be satisfied by other media advertising channels. In advertising the LibreTech eTechReader, radio advertising will help in generating the frequency impact for the company. Radio advertising is also capable of reinforcing the key aspects of the campaign message and as well, informing consumers who might have never heard about the product. This lacks the practical aspect to demonstrate the product to the consumers
Sponsorships will entail offering opportunities to recognized community events by offering support. This includes offering support to educational institutions and supporting initiatives that utilize technology in learning. However, identification of the right community to sponsor can be quite a challenge.
Leaflet Distribution will work best when an identified target market has been identified. Since students, businesspersons, and other professionals read newspapers on a frequent basis, LibreTech can distribute leaflets with newspapers. This strategy will be effective because particular individuals will be targeted. This can be costly of the newspaper reaches many regions
Ambient advertising is ideal for reinforcing the impact of the advertising message to the right audiences at the right times. For this reason, LibreTech eTechReader can utilize tactically tailored executions particularly in stadia advertising to enhance its opportunities for reaching the targeted audience. By ensuring that the selected market identifies with our value propositions, LibreTech eTechReader can remain firmly edged in the minds of potential consumers. The limitation for this strategy is the identification of the right sports and costs.
Internet marketing is no doubt one of the most efficient and effective marketing strategy in the current information age. By using the company’s website and pay per click adverts, LibreTech can achieve great milestones in advertising the LibreTech eTechReader. The only limitation is the need to identify the appropriate market and target audience.
Summary of the plan
LibreTech eTechReader will be marketed using a combination of different advertising strategies and communication tools. This includes TV and radio advertising, Press adverts, leaflet distributions, sponsorships, internet marketing, and ambient adverts (Kotler, & Keller, 2009). A combination of these strategies will help in increasing coverage and minimizing on the weakness of each strategy while capitalizing on the strengths.
Diller, S., Shedroff, N., & Rhea, D. (2006). Making meaning: How successful businesses
deliver meaningful customer experiences. Berkeley, Calif: New Riders.
Kotler, P., & Keller, K., (2009). A Framework for Marketing Management (4th ed.). Pearson Prentice Hall.
PriceGrabber (2012). Consumer Behavior Report: eReader and eBook Trends.
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or_Report.pdf
