Integrated Marketing Communication Plan
Integrated Marketing Communication Plan
Integrated Marketing Plan
Objective:
The product should perform at a very fast speed. As an emergency power source, users do not have to wait long hours before enjoying the service support that ConsoGo can offer (Blakeman, 2014). For instance;
It powers a computer for 30 minutes.
It powers a mobile phone for 45 minutes.
It powers a PDA for 90 minutes.
It uses the sun and other electric lights to power up.
It only takes a few minutes to charge.
It can provide power to other devices while charging.
It has a six sided universal adapter hence increasing the number of gadgets it can service.
Issue:
The main issue about the speed of service delivery stems from the fact that users always demand immediate response or reactions from the products they use. For instance, if ConsoGo were to take several minutes, like ten minutes to power up before being able to charge another gadget, then this would be a negative mark on its part. In this regard, being unreasonably faster in application makes the product more viable as well as acceptable within the market circles.
Strategic Message 2: Unreasonably Light
Objective:
The product should be very light to enable portability from one point to the other by users. In fact, users should not feel any burden of carrying around ConsoGo everywhere they go as an emergency power source for their devices (computers, mobile phones, and PDAs). The following product features cater for its market performance (Percy, 2014). These include;
A very, very lightweight product made from plastics
The complete unit weighed just four ounces
Different colors of plastic selected to attract different kinds of consumers (such as edgy teens, women, sophisticates, working professionals, and rugged outdoor types)
Issue:
The main issue arising in this case about the weight of the gadget. It goes without saying that creating a very heavy gadget would definitely scare away potential buyers in the sense that it would hamper the portability of the product. Users will not be able to carry their gadget around for use in emergency situations of power outages as desired in the main objective of the gadget, which is the provision of emergency power source for user’s devices when away from their homes or offices.
Strategic Message 3: Reasonably Cheap
Objective:
Despite all the good features incorporated into ConsoGo, buyers are only going to purchase it in large numbers if the price is equally attractive (Duncan & Ouwersloot, 2008). This therefore means that the market price set for the product should be both affordable as well as attractive to the potential customers, hence reasonably cheap.
Issue:
The concept of price stems from the perspective that price plays an instrumental role in the sale of a product, especially a new product launched into the market. Therefore, the manufacturing department should focus on reducing the cost of production of the gadget in order to present a cheaper version of the product within the market. The price set for the product should be able to offset all the expenses incurred in its production, as well as provide the company with a good leverage to make profits from its new venture.
Strategic Message 4: Perfect Timing
Objective:
The timing of a product launch should be perfect in the sense that it caters for the surprise element of product introduction into the market (Waller, 2012). In this regard, the company needs to select the perfect time for launching ConsoGo into the market, as this will improve both sales volumes as well as give it a competitive advantage over other players in the industry.
Issue:
Timing is one of the most critical market entry strategies that companies can employ in order to capture a significant market control. In this regard, the time of product launch should be strategic in the sense that it enters the market at the most opportune time of its Product Life Cycle. This will in turn ensure effectiveness in product sales as well as strength in product reputation.
Strategic Message 5: Investor Communication
Objective:
How will the investors perceive the launch of the new product? A company cannot survive without the support of its investors and customers. As such, it is imperative to consider the impact of the new product launch concerning the reactions of investors. Normally, the reaction should be positive, as the investors perceive the new product launch as a channel to increase their returns on investment (Moore & Thorson, 2013). Therefore, if the investors view this as otherwise, it is advisable for the company to drop the entire program in totally or risk losing investor confidence and consumer support.
Issue:
For instance, if the company is listed on the stock market exchange, the response to its launch of a new product should be a rise in its stock price as investors rush to cash in on the new investment opportunity.
Implementation Plan
Research and development to create a new product that is perfect for the market.
Stakeholders: The R&D team of the company
Objective: To brainstorm and develop a new line of product that the company can introduce into the market.
Message: The developed product should be unique and appealing to the market.
Tactic: Take the R&D team for outdoor retreats, training seminars and excursions enable them to think outside the box on the best products that the company can introduce into the market in order to increase its scope of earnings as well as improve on its brand image and reputation.
April
Organization of strategy workshops within the company
Stakeholders: Company executives, Board of Directors, Production and manufacturing departments, as well as the marketing teams.
Objective: To bring all the concerned stakeholders on board with regards to the development and design of the new product, and how they will participate in the creation of ConsoGo. Each department has to present its views and perceptions of the new product as well as come up with effective guidelines on how best the company can produce, launch, and market the new line product into the market.
Message: The strategic direction of the company is in the hands of the stakeholders involved, as each party will have an opportunity to make known his or her suggestions on the product, and how it can be improved or given a perfect entry into the market.
May to July
Manufacturing and design of the product
Stakeholders: The manufacturing department and the R&D department
Objective: To manufacture a product that meets the desired design set by the R&D team
Message: Manufacturing department has to come up with the right product as envisioned by the R&D team as this is the best way for it to tackle any market hurdles that may arise afterwards
Tactics: The R&D has to work closely with the production and manufacturing department to ensure that it comes up with the best product designed for the market. The manufacturing team has to consult the R&D team on how to make these designs, and as such, the R&D team also has to feed to manufacturing department with all the right information it needs to develop the product.
August to December
Product launch, marketing, and promotion
Stakeholders: The marketing department
Objective: To introduce the product into the market with a bang, in such a way that it would take all other substitutes or competing products by storm.
Message: Marketing the product to create awareness and a competitive edge over other market products competing with ConsoGo for customers.
Tactics: Creating an Integrated Marketing Communications (IMC) team that oversees the promotion and marketing of the product across the market targeting its potential consumers. The marketing team has to consider all the possible barriers or challenges that CosnoGo can face once introduced into the market, which will in turn promote its sales across the divide. For the company to reap good benefits of its new product, the marketing team has to be very thorough in the promotion and marketing of the product.
References
Blakeman, R. (2014). Integrated marketing communication: Creative strategy from idea to implementation. Lanharm, MA:Rowman & Littlefield Publishers.
Duncan, T. & Ouwersloot, H. (2008). Integrated marketing communications. New York, NY: McGraw-Hill International.
Moore, J. & Thorson, E. (2013).Integrated communication: Synergy of persuasive voices. New York, NY: Psychology Press.
Percy, L. (2014). Strategic integrated marketing communications. London, UK: Routledge Publishers.
Waller, D. (2012). Developing your integrated marketing communication plan. Sydney, AU: McGraw-Hill Australia.
