Category: Marketing

http://www.youtube.com/watch?v=u5SwenzKEno

Watch the “Tata-Pricing Strategies” video clip, then answer the following questions.

1.    What type of pricing is Tata using for the Nano?
2.    What should be the company’s pricing policy for Europe?
3.    Should the car meet the European safety standards?
4.    What are the drawbacks of charging such a low price?

Context for my presentation: This is the problem statement.
—The Consumer Packaged Goods (CPG) industry is a $2 trillion dollar industry that is one of the largest sectors in North America. CPG items are used daily by average consumers and require routine replacement, such as food, beverage, clothes, tobacco, makeup, and household products. Because the industry is large and full of competitors, TV advertising is heavily relied on to grow companies audiences. By analyzing the data from CPG network level spending, we can optimize the spending for advertising on broadcast and cable. We will base our findings on GRPs, which is a combined calculation of reach and frequency. The descriptive and predictive analyses of purchase behaviors in relation to advertising placements will help us formulate several insights and action plans to maximize the CPGs advertising dollars.
—The descriptive, predictive, and prescriptive analyses will allow us to identify spending efficiencies and deficiencies, changing trends, spending patterns of subcategories, and the networks relationships to subcategories spending. We will look at five psychographic markets – snack consumers, alcoholic beverage consumers, cola consumers, confectionary consumers, and  cooking segments – and analyze how demographic, network, ownership, and cost vary per market. These analyses will also justify the need to adjust advertising messages and production.
—We expect that our analyses will indicate that snack and beverage products have the greatest reach with their ads. Through analysis, we will be able to identify which category or subcategory spends the most on ad dollars and which reaches their audience more efficiently. We also want to determine which networks see greater spend, and if network ownership plays a role in CPG advertising participation.

DIRECTIONS!!!!
Write the BACKGROUND: What do you know about this problem? Describe the context. Do some background research on the topic (CPGS) and write what you have found. – go into detail about TV spend (what it is, how it is measured, what are GRPs – how are they calculated, why did we choose this metric), common trends in CPG spend, etc.

Address the following questions in your response:

What is the final element (final phase) of a marketing plan?
What is an independent, comprehensive, systematic, and periodic review of a companys marketing environment, strategies, and objectives to improve performance?
What are the primary trade channels for bringing products to customers?
How is decreasing the number of levels of management in an organization to get closer to the customer described?
How is using analytical methods, such as data mining, to develop deeper insights into customer behavior described?
What are the four stages of the profitability control process?
What reveals the companys earnings in products, territories, or markets?
What is the number 1 deadly sin of marketing for companies?
What addresses the what and why of marketing activities?
What software allows marketers to make better spending and investment decisions, get new products to market quicker, and reduce decision time and costs?
Who examines adherence to profit plans, assists brand managers in preparing budgets, measures promotional efficiency, evaluates costs related to media production, and conducts profitability analyses?
What is crucial to ensuring that marketing plans have their expected results annually?
Who sets annual sales and profit goals?
How frequently does the average U.S. corporation lose half of its customers?
What is critical for marketing to have future success?
Submitting your assignment in APA format means, at a minimum, you will need the following:

Title page: Remember the running head. The title should be in all capitals.
Length: 3 pages minimum
Abstract: This is a summary of your paper, not an introduction. Begin writing in third person.
Body: This begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your paper for this assignment is 5 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
Reference page: References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.

The responsiveness of social media allows brands to more easily tailor their messages to suit the needs of the immediate moment, even while staying true to their images and product lines. As more people are staying home due to the recent pandemic, home improvement brands could emphasize the stress release of home improvement and the need to make homes seem like a refuge and an entertainment playground simultaneously. Engagement, combined with enhancing entertainment on social media, can likewise be fostered by humor.

For example, Wendys is a fast food brand that has always been second to McDonalds in terms of its brand recognition and sales. However, it has cultivated a funny social media profile that has earned the restaurant chain many Twitter followers, as well as increased sales. In one exchange, someone asked Wendys on Twitter how much a Big Mac cost, to which the account (personified by a smiling red-haired little girl) responded, Your dignity (Bikker, 2019). This also enhances the pleasure of the experience with interacting with Wendys on social media and in real life, fostering a close relationship for the consumer with the brand. The brand allows the consumer to learn about new products. The brand is enhanced with more traditional television advertising depicting juicy, delicious burgers and tasty chicken sandwiches but has generated a new demographic of critical younger consumers who like the sassy, funny Wendys online voice.

It should be cautioned, however, that not all brands could use Wendys social media strategy with the same ease. Wendys does not sell a serious product, so cultivating honesty, empathy, and trust is not as necessary, versus, say, health insurance or cars (Bikker, 2019). Its demographic is also very young, and savvy to the ways in which Twitter and online technology often make use of sarcasm and abrasiveness to make a point (Bikker, 2019). A products verbal and visual tone must be consistent, even if it adopts a slightly more informal tone on Twitter, where it may interact with followers on a one-on-one basis.

Still, many companies could learn from Wendys approach in the digital age. Rather than simply promote deals or deliciousness, Wendys has created a persona and ethos for its product far edgier than its primary competitor, McDonalds. Given that consumers online and coveted younger consumers in particular are mistrustful of brands that make use of strategies that obviously appear to be advertising, Wendys approach has proved useful.

In this assignment, select 2 advertisements within the same industry (e.g., YouTube, newspaper, TV, or radio). Write a 5-page analysis of each advertisement for your marketing report based upon the following criteria:

Describe the message conveyed about its brand.
Is it consistent with the brands message throughout all of the media? How?
Did you learn anything new about the brand by looking at the different channels?
How does this view influence your perception of the brand?
How can you improve the brand’s messaging?
What would you change to promote the brand further?
Submitting your assignment in APA format means, at a minimum, you will need the following:

Title page: Remember the running head. The title should be in all capitals.
Length: 5 pages minimum
Abstract: This is a summary of your paper, not an introduction. Begin writing in third person.
Body: This begins on the page following the title page and abstract page and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your paper for this assignment is 5 pages. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
Reference page: References that align with your in-body academic sources are listed on the final page of your paper. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference page is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.