International marketing
Adana kebab is the new product (snack) that will be offered to the Turkish urban market. In most instances, the workers would prefer snacks during lunch hours since they save on time. Therefore, this forms the basis of product selection. With the increasing working population in Turkish towns, snacks have become one of the most looked after foods in Turkey. The product will in offered in sticks and packaged in light polythene packing papers. Adana Kebab, therefore, offers a new experience to the working Turkish population given its outstanding characteristics
Target Market
Marketing the new product in the market emphasis on creating a unique product in terms of the pricing, quality, and product packaging. It aims at filling the existing market gaps through its unique features. The overall marketing segmentation will be based on three factors; the demographic segmentation, behavioral segmentation and geographic segmentation. The three types of segmentation form the basis of developing the target market segmentation variables. Based on these, our product is aiming to target three varying market segmentation variables which include; population age, income and the geography. Since the product is developed specifically for the active individuals who are employed in the major urban centers in Turkey. There has been a consistent increase in the working population in the country over the past few years due to the increasing population, both male and female population in the country. Compared to the previous year, Turkish population in 2016 increased by 1.23%. Similarly, the rate of migration to the towns increased between 2015 and 2016 as the working population increased; thus, creating a large market for the product. Adana Kebab targets the high working population since it is easy to handle and can therefore faster at a lower cost than other snacks in the market (CountryMeters 1).
The first variable for our product is the working population of age between 25 to 50 years. The main reason why this age group is ideal is primarily because they form almost the entire workforce of the country; thus, have free disposable income that they can spend on the product. The other minor reason is because this specific the age bracket constitutes the largest population in the country. It constitutes about 49% of the total urban population in Turkey, which translates to approximately 32,289,936 people in the Turkish towns. It is vital to note that this is a fundamental reason, as there is a high likelihood of recording high profits by focusing on a large market segment than focusing on a small segment of the population. It has a greater potential for demanding large quantities of the product due to the need to save on working time. Out of the total urban population, it is estimated that the entire population will form the basic market for our new product in the market.
The second variable which is the high and middle-class workers who earns relatively high income and are able to afford the product (Euromonitor International 1). Although our product will be fairly priced to accommodate the entire population, a specific focus will be on the middle and high-income class, so as to realize high sales value of the product. The high and medium income class would have a high demand for our products due to their high incomes that gives them a higher propensity to consume. Finally, our product will be focusing on the urban market as the third variable. The variable is selected as the target market since majority of the working populations are based in the urban centers. A higher working population is located in the towns; thus, the selection of the urban population for the product.
Target market calculation
Using the chain-ratio method, the target market based on the three variables is determined as follows;
Age variable (25-50 years) = 49% = 0.49
Middle and upper class working population = 65% = 0.65
Urban population = 0.74, total urban population = 32,289,936 people
Target market = (32,289,936 × 0.49 × 0.65 × 0.74) = 7,610,415 people
Promotion: Traditional Advertising
Figure 1: Traditional Advertising poster
This is the ad that our product will be using on the major traditional advertising media such as the print, televisions and billboard. The advertisement presented in the above reemphasizes on the aim of meeting the target market needs. Since majority of the target market is the working class in Turkish major towns, the product will aim at meeting their needs for a delicacy that pocket-friendly and easy to handle in terms of the presentation. Therefore, it reflects our message through the presentation of the major benefits that the market is expected to have from the product in terms of the cost, presentation and time. The ad presented above has four major elements which we feel are important in marketing our product to the target market. They include the product name, slogan, key benefits and our website where the customers can obtain more information about us and the product. The name is important in marketing the product since it informs the target market of, what product are they buying or consuming?
The other important element is the product slogan. Our product slogan reads, ‘a delicacy that meets your needs.’ We have an understanding of the market needs of our target market. Therefore, from the ad, we reemphasize on the market needs as a way of proving assurance to the target market that the product is developed to meet their needs and goals. Examples of the needs of the target market include a cheaper product which can easily be afforded by the middle and high-income class of the working population. Given the limited time that is offered for the working population in Turkey for lunch, our product comes in to serve the clients within the shortest time possible. It can also be bought as a “take-away” due to its unique packaging and presentation. This way it meets the customers’ needs through time savings.
The other elements that are presented in the ad are the key benefits that are associated with the product. There are four major benefits that the target market are likely to obtain from the use of the product and this is line with the customer needs. The product is prepared by highly qualified chefs making it one of the most delicious kebabs in the major towns. It incorporates unique ingredients which improves the delicacy. The product is also cost-friendly due to the lower prices compared to what the competitors are offering in the market. Finally, it can be easily carried away to the unique package and presentation as shown in the ad. The ad also presents our website from which the clients and target market can acquire more information, not only about the product but also us as the producers.
The ads will be placed in the daily newspapers and majorly during the working days to attract more attention of the working population in the towns who are the main target market. Additionally, the commercial magazines will also form an appropriate place to have the ad due to the huge readability by the urban population. In the digital media advertising, our product will come during the lunch hour just after and before news highlights at the lunch hour. Although this is likely to be costly to the business, it will attract a large audience hence the wide marketability.
Therefore, we are expecting to have an increased consumer markets from the ads due to the selection of the appropriate ad time and platforms that can easily be accessed. For the radio, advertising, our ad will be played the same time as in the televisions. The ad targets the entire working period of the year and will not be displayed during holidays. During these days, we expect that a greater proportion of the Turkish urban population will out at their working stations, hence increasing the marketability of our product. Finally, the ad complies with the advertising restrictions established in Turkey. These include the content of the ad and timing in which it is made to the target market.
We intend to run at least 1 ad per day for three times in a week. Specifically, we will run ten ads in a week in the digital media, mainly televisions. We also explore the print media such as billboards, newspapers, and posters as alternative advertising strategies for our new product which targets the working urban population in Turkey. Our total budget for the ads is budgeted at 200,000 Turkish Lira, which is an equivalent of USD 70,000 at the current exchange rates (1Turkish Lira = 0.35 US Dollar). The table below presents a summary of the budget for the ads used in marketing the product (Euromonitor International 1).
A total cost of 200,000 Turkish Lira is a considered to be a reasonable cost since our product is a new product in the market that requires wide publicity so as to have a wide market coverage and ensure a high revenue is earned from the sales.
Promotion: Social Media Advertising
The social media advertising for our product will take the form of social networking through the use of social sites such as Facebook and Instagram. Internet advertising, on the other hand, will basically be handled from our official website. Although this is likely to attract a limited audience of target market, its impact on passing the message to the targeted market is expected to be positive. Possibly, we could initiate mobile ads to reach a large market share, though it will be expensive and beyond our budget for the product advertising. As earlier noted, our target market based on the age targets the working population between 25 and 50 years. At the early ages between 25 years to 35 years, internet advertising will be appropriate since this population comprises of frequent internet users. Majority of the population is also active in the social media sites such as Facebook making it the most appropriate media for advertising in regard to the internet users.
However, for the older population in the market, consumers above years, there is a decline in the usage of internet, hence limiting the use of internet marketing for the older population. There are a varied number of digital advertising companies in Turkey that we intend to explore for our internet marketing. The most common example is the Top Interactive Agencies, a top internet marketing company based in Istanbul, which carries various activities in advertising such as the digital and internet marketing. Additionally, as part of our digital marketing, we intend to extensively exploit our website as the basis of internet advertising. The main advantages that are associated with the internet advertising include the high cost efficiency, efficient interaction and feedback, improved target marketing, and an increased audience captive. Therefore, based on these advantages, we expect to reach a wider market and earn high revenue from the sale to the digital market (Saltenyte 1).
Figure 2: Quirk’s Marketing Research Media
The other possible internet marketing media that we will explore for our product include the use of Google AdWords and Quirk’s Marketing Research Media. These two online sites provides efficient internet marketing at a relatively cost. For instance, Quirk’s offers a more concrete pay structure in which the cost of advertising is based on the preferred location of the ad in the website. Using the Quirk’s Marketing Research, we will spend an approximate amount of 12,400 Turkish Lira for each advert presented at the top of the website for half year.
Figure 3: Social Networking Interaction forum
An alternative internet advertising is the use of social media networks such as Facebook Page and Groups that facilitate our interactions with the target customers. Unlike the other forms internet advertising, social media advertising is free to use; thus, lower costs of operations. The social medial advertising include the use of twitter, Instagram, and Facebook page. These forums provides an efficient interactive forum which facilitates the interaction between us and our target customers. Creating the social media platform for advertising is free of charge and therefore affordable to our organization. However, to improve the effectiveness of the media, we have an option of paying regular premiums which are affordable and assist in improving the marketability of our product. With the growing use of Smartphones by the young population in Turkey, the use of social media advertising is considered to be appropriate for interacting with the young population which is part of our product target market. The growth in the use of Smartphones have facilitated the use of internet and social media among the young population which is an advantage to our product marketing. The schedule presents the proposed budget for social media marketing for the product in the target market. We intend to incur a total cost of 50,000 for the social media ads. It is cheaper as compared to the traditional ads since most of the techniques are free to create and maintain.
Works Cited
CountryMeters. "Turkey Population 2016 | Current Population of Turkey." Current World Population by Country. Population Data for Every Country as of 2016. CountryMeters.org, 2015. Web. 10 Apr. 2016.
Euromonitor International. "Millennium Web Catalog." Millennium Web Catalog. Passport. Web. 12 Mar. 2015. <http://www.portal.euromonitor.com.skyline.ucdenver.edu/portal/statistics/tab>.
Euromonitor International. Sweet and Savoury Snacks in Turkey. Turkey: Euromonitor International, 2015. Web. 9 Apr. 2016.
Istanbul Food Bazaar. Istanbul Food Bazaar - Hesapli Alisveris - Turkish Grocery with Free Shipping Turkish Food / Turkish Music / Turkish Delight / Turkish Products / Turkish Cofee / Evil Eye. Istanbul Food Bazaar, 12 Feb. 2016. Web. 10 Apr. 2016. <http://istanbulfoodbazaar.com/>.
Saltenyte, Ugne. "Rising Turkish Cities Offer Growing Urban Consumer Markets."Euromonitor International Blog. Euromonitor International, 10 Feb. 2014. Web. 10 Apr. 2016. <http://blog.euromonitor.com/2014/02/rising-turkish-cities-offer-growing-urban-consumer-markets.html>.
