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Marketing strategy is essential before actualizing projections of a marketing plan blue print. As a matter of fact, this plan functions on the margins of informed decision making after comprehensive research on viability and sustainability of a new product or a modified product (Stokes 25).
In the overcrowded industry where Tech-Shield operates in, product positioning is directly linked to the success in the short and long term especially for a new product. In order to achieve the desired goals, positioning ensures clear difference of the new product from the existing products. This paper explores different marketing and branding strategies that the Tech-Shield Company needs to adapt to remain competitive.
Adopting a First-Mover Strategy, Tech-Shield will position its products as the first of its kind in the Wal-Mart market. Through a defined delivery channel and strong media marketing, the company will revolve on quality maintenance to support the leading marketer status (Weiss 34).
In the process, focus will be directed to the most competitive price and what the customers are able and willing to pay. In order to cut a unique niche, the right audience will be captivated by the affordable prices for the company’s products.
Despite the crowded market, the product will be marketed as first of its kind in the UK market. In order to achieve this aim, demographic differentiation will be based on income supported by strategic packaging and series of relevant marketing campaigns as the best approach towards commanding a price premium.
As a result, the fair pricing mechanism among other factors will skew competitive advantage positively. In addition, the company intends to recruit distribution agencies across the market regions and well trained marketers for these products.
Tech-Shield’s proposed branding strategy
In order to diversify market operations, Tech-Shield should create multiple products from the same product with different coloration, sizes, and packaging (Stokes 31). This will create an environment of own competition and block other competitors from encroaching into the company’s market (Weiss 29).
These sub-products will be differentiated by features, prices, and difference in quality. As forecasted in the market research, this strategy will be successful towards dominance as it offers variety of options to consumers, while at the same time, maximizing benefits of economies of scale (Stokes 27).
Since technology based market has low entry barriers, Tech-Shield is likely to reap from the experimenting consumers as the product may appeal to the young male generation who are often willing to try new products. The high and the low end varieties will target the high and low income earning consumers.
With the high end and low end varieties in the market, little room will be available for competitors to create a third product based on quality (Weiss 25). Thus, when properly implemented, the company will reap major returns on the upper and lower ends of the UK market.
Proposed marketing channels
The internet offers a wide range of communication tools that ride on the social dimension of the online experience. The communicative power of the internet has essentially replaced much of the traditional tools particularly in the world of traditional advertising in print and broadcast media (Cheverton 21).
Marketing a product via a website requires different strategies that will ensure that clients get the products within reasonable satisfaction level. Properly designed online marketing and product distribution management facilitated the success and sustainability in online marketing for Tech-Shield since it operates within stipulated business laws.
Social media, especially Facebook and Twitter, have gained popularity among the users of Tech-Shield’s products. In e marketing industry, social media has penetrated the communication environment and currently commands a large following among the users. Reflectively, Facebook and Tweeter are ideal tools foe branding and community following building for the company’s products.
Digital technology will help the company to reach their customers by skipping or by-passing the traditional gatekeepers, such as written magazines publishers, and placing them online so that customers can get them directly (Stokes 51).
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Objectives of social media in Tech-Shield
The objectives of social media is building a strong a brand and following. Through likes and tweets, the customer base for the company will expand substantially over a short period of time. Social media focuses on e-marketing which involves building friendly partnership and working relationship with a market segment without necessarily having physical contact with it.
Properly designed online marketing and product distribution management facilitate the success and sustainability in online marketing. To increase credibility and maintain professionalism, the current bomb internet channels of reaching the consumers should be tailored to encompass processes and features that flawlessly facilitate a healthy and lifetime relationship between the business and its clients.
Among the new development elements that the Tech-Shield should incorporate include passing accurate information to target audience. Creation of content is extremely essential when dealing with internet marketing communication within the online marketing industry (Stokes 41).
It is necessary to determine the online behavior of the target market before selecting the best channel for internet marketing for the company to minimize the issue of changed consumer preference. Essentially, success of brand and product management depends on a proper alignment of a functional idea into the creation of flexible, involuntary, and quantifiable measurement of perception among the target audience.
Thus, through advertising campaigns and promotional strategy that is defined by the nature of the market, the size of the market, and the preferences of its customers, the company should carry out a link reference promotion where the website user with the highest number of referral links is rewarded with free products. This will create a long term loyalty among clients (Weiss 42).
Customer relationship management is the first step towards customer relationship and to expand the distribution channels that attract near markets.
Reflectively, the concept will revolve around a comprehensive review of ‘push and pull’ factors which determine functionality of the company to offer an alternative strong marketing tool in the quest for quality, reliability, and trust among clients. A properly designed mud mapping plan will be crucial in presenting brand knowledge, awareness, penetration strategy and passing information to target audience (Cheverton 34).
Mass media services are mainly concern with generation of modern cultures. Cultural values normally influence whatever values that are generated by mass media. Cultural values normally dictate what consumers would purchase; in fact, people buy certain signs when they are driven by the implication conveyed.
Moreover, semiotics plays a significant role in the ads because it inspects signs and implication that are conveyed and thus alerts the users about the relevance of the product. Semiotic is the process in which things are identified as signs. Therefore, marketing strategy as part of consumer behavior analysis for this company will be aligned to the ideal as perceived by consumers.
Cheverton,Philip. Key marketing skills: strategies, tools, and techniques for marketing success, London, UK: Kogan Page, 2004. Print.
Stokes, Raymond. eMarketing: The essential guide to digital marketing, London, UK: Quirk eMarketing (Pty) Ltd, 2011. Print.
Weiss, Joseph. Business Ethics: A Stakeholder and Issues Management Approach, Mason, OH: Cengage, 2008. Print.