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Travel Supreme Company’s Marketing Plan Research Paper


Company Description

Abiomed Inc. is a supplier of temporary mechanical circulatory support devices. The company manufactures products that stimulate the heart to rest and recover by stabilizing the arterial blood flow and improving the work of those organs that assist heart in its pumping function. The products are known to be recognized by the cardiac catheterization lab, international cardiologists, and the majority of heart surgeons as the most reliable technological means to refer to in one’s daily practice. Naturally, all the mentioned facts make the company’s products stand out from all the competitors’ produce and, thus, remain a more preferred option for customers.

Main Content

As to the main content, the promo clip is expected to touch the category of customers, which is more than others likely to buy the named products (Parente & Strausbaugh-Hutchinson, 2014). People of senior age are usually regarded as a higher-risk group of heart failure patients and, therefore, are viewed as a target audience of the video campaign. It is highly recommended that the promo series accentuate attention on four to six people of both senior and middle age, who would represent the most prominent company’s innovations to the audience. A small number of characters in the video would allow for significant reduction of the footage costs and acquiring an economic edge over competitors in the long run.

Social Media Communities

As was mentioned earlier, the target audience of the promo campaign is a senior-age category of consumers: people with an impressive life experience, who have large families and wish to enjoy every minute of their quiet existence. For such a group of customers investment in their own health is, probably, the key factor to determine how happily they will live the rest of the decades. Eventually, engaging people of a venerable age in a campaign would evoke sympathy and honorable attitude to the clip content from the major part of viewers and would hold those from skipping the video or switching to the other webpage (Ryan, 2016). Such a beneficial impact on the outcomes can contribute to an increased rate of online community involvement.

Campaign Metrics

As to the company’s performance over the past three years, the current ratio has risen from 388% in 2014 to 471% in 2015 and 620% in 2016. The quick ratio indexes in 2014, 2015, and 2016 were 342%, 428%, and 562% respectively. The cash ratio was 252% in 2014, then 336% in 2015, and 456% in 2016. Regarding the gross margin and pre-tax margin, those were 80%, 83%, 85% and 5%, 12%, 20% in the years from 2014 to 2016.

As to the metrics used to monitor the results, it is recommended to refer to the ‘Buzz compare’ and sentiment evolution methods, considering the established tendency in the figures’ growth (Luo, Wang & Han, 2013). The first one would compare the week/month in which the marketing campaign generated the highest ‘buzz’ with the preceding week/month and would evaluate factors leading to such progress. The second would assess the consumers’ feedbacks and the overall sentiment of the messages about the brand products.

Video Pros and Cons

Viral-ability of the approach is one of the main advantages of the video marketing campaign, since millions of users surf for the new content daily, regardless of a clip duration or topic. Also, a well-designed video can contribute to the higher rates and site’s recognition (Scott, 2015). Normally, a promo clip unveils information more suitably and conveniently than an article and takes less time to receive the key message.

As to the occurring shortcomings, videos do not give much room for customizing the content and, thus, require addition spends on changing the initial videos. Also, generating them requires a lot of hard work.

Conclusion

All in all, Abiomed Inc. has shown a tendency to raise revenues from year to year. A successful promo video would only benefit the results and would raise the profit significantly. Using the right monitoring metrics can assist in the matters of campaign arrangement.

References

Luo, L., Wang, Y., & Han, L. (2013). Marketing via social media: A case study. Library Hi Tech, 31(3), 455-466.

Parente, D., & Strausbaugh-Hutchinson, K. (2014). Advertising campaign strategy: A guide to marketing communication plans. Boston, MA: Cengage Learning.

Ryan, D. (2016). Understanding digital marketing: Marketing strategies for engaging the digital generation. New York, NY: Kogan Page Publishers.

Scott, D. M. (2015). The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. Hoboken, NJ: John Wiley & Sons.

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IvyPanda. (2020, July 24). Travel Supreme Company's Marketing Plan. Retrieved from https://ivypanda.com/essays/travel-supreme-companys-marketing-plan/

Work Cited

"Travel Supreme Company's Marketing Plan." IvyPanda, 24 July 2020, ivypanda.com/essays/travel-supreme-companys-marketing-plan/.

1. IvyPanda. "Travel Supreme Company's Marketing Plan." July 24, 2020. https://ivypanda.com/essays/travel-supreme-companys-marketing-plan/.


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IvyPanda. "Travel Supreme Company's Marketing Plan." July 24, 2020. https://ivypanda.com/essays/travel-supreme-companys-marketing-plan/.

References

IvyPanda. 2020. "Travel Supreme Company's Marketing Plan." July 24, 2020. https://ivypanda.com/essays/travel-supreme-companys-marketing-plan/.

References

IvyPanda. (2020) 'Travel Supreme Company's Marketing Plan'. 24 July.

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