Metabical for Advertizing Techniques and Media- MyAssignmenthelp

Question: Discuss about theMetabical for Advertizing Techniques and Media. Answer: Overview Introduction of a new product into the market needs well-structured market positioning plan and communications strategy. The report was about the introduction of Metabical, a new drug for weight loss. The drug had undergone through extensive testing and was found to be more effective than the existing drug in the market. Due to the need to promote the drug using extensive marketing approaches, the marketing director Printup in conjunction with the sales director identified an urge to develop a good market positioning and communications for the new brand. This involved looking at the consumer behavior and a number of marketing communications factors. A number of promotion techniques, advertizing techniques and media, market research techniques, and other essential marketing communication approaches had been evaluated. The Decision Making Process and Sales Team The decision making process had involved identifying the problem which may exist in the promotion of Metabical to the target consumer, defining of the main issues, determining options or alternatives, evaluating the various options, selecting from the available options the best and optimal solution then putting that into action. The top managementas the main decision maker devised a plan that could be executed by the sales representatives which had the main objective to create product awareness, to guarantee high quality and customer satisfaction, to help achieve product positioning. The decision making was centralized so as to achieve better communication and ensure effective coordination and control. It also engaged promotion management decision making decision making technique which relied on the experience of the marketing director and on evidence drawn from the marketing research. Information was made available at all cost so as to ensure everything was done as per the set obje ctives. The sole target consumer was the overweight individuals but the target audience was the general public which was found to be concerned with weight loss. Market Segmentation and Consumer Behavior There are at least six demographic attributes that are considered for market segmentation of not only Metabical, but any new product. They included; age, sex, marital status, education level, occupation profession, and household income. By grouping the target customers in this manner, it becomes easier to know how to strategize the marketing communication plan. A number of the targeted customers are the young people (a higher percentage are young women and those that are single) since they were found to be more concerned with their weight. The company however developed a promotional mix which involved covering the entire target audience while grouping the audience into the target customers using those attributes mentioned above. Segmentation is further achieved by not only looking at the demographic attributes but also the geo-demographic attributes and the psychographics. For instance, one can argue that its important to look at the purchasing behavior as a way of segmenting people by the way they live, geo-demographic; Or, by the interests of the people such as their lifestyle and opinions, psychographics. The procedure on market segmentation involved analyzing the consumer product relationships; the bases of segmentation; developing a positioning plan; selecting a segmentation strategy; and designing a marketing mix. Differential Advantage In order to ensure that CSP had positioned its Metabical brand more effectively, it was required to evaluate the market structure by evaluating the competitive advantage. The second thing was to evaluate the most effective consumer segmentation strategy. It was also considered essential to carry out surveys, interviews and in general research so as to come up with the consumer perception of the product in relation with the competitors products. CSP also embarked on evaluating and communicating the benefits associated with the product. Positioning Strategy In order to position an effective product positioning for Metabical, its very essential to position the brand using the positioning by attributes approach. This is important because the target consumer tends to look at the benefits and product features. The customers are more concerned with the contents of the product and whether it can achieve what we say it does. Different attributes can be combined such as having the ability to reduce calories and also increase the metabolism rate for enhancing longer life. With this kind of strategy, its necessary to have a consumer-driven communication strategy. However, it needs marketing communications tools to attract and engage with the consumers of the clients. Based on the selected strategy and the sales costs associated with marketing of the product, the estimated budget can help in meeting the performance goals. Marketing Mix and Timeline Its very important to have a marketing communication strategy which is a mix strategy comprising of advertising, sales promotion, publicity and personal selling. The timeline would be 12 month timeline. In order to build this timeline, the first step that was taken into consideration was the setting of the strategy. It also followed that a typical message that the product promotion could carry is determined. The various activities are scheduled in monthly basis and a timeline is set for each element mentioned in the strategy. Within this 12 month timeline, various communications both internal and external should be well programmed. The success of the strategy is measured using some metrics and benchmarks.