Today in this post, you will get idea how we can make Promotional Plan for any product.
In this we select the car as a product and make the Promotional Plan for Cars
In this you get the answer of what is the Promotional Plan for any product and how we can develop Promotional Plan. If you are not able to understand then do contact us. I will do your assignment or homework. I assure you that you will get 100% original assignment and homework help from our best tutors.
For developing a promotional plan, understand the need of a market is very important for an organization. The car market is divided in two segments, price and quality. People are fascinated by classic cars. But in the vantage or classic car market needs the attraction of customers. In recent year the vantage car market is growing. A classic car gives driving enjoyment and uncomplicated technology. But the experts refer to automobile as classic cars if they are at least 20 years old (Auto On Page, 2009).
An organization has a good market research about the needs of a classic market, car models and technologies used in classical cars. It has good team of workers and employees, who understand the market needs and technologies. An organization can fulfill basic needs of classic cars like availability of parts easily in the market, repair and maintenance of a classic car. An organization can make the classic cars according to the customer life style, buying behavior, attitude etc (Auto On Page, 2009).
Macro Trends are concluded external factors of an organization. The Macro Trends of an organization are as follows:
In classic car market the geographic or demographic trends are concern about the income, age and location of a customer. The older age persons are interested in purchasing a classic car rather than a new comer age. Classic car market is influence from the income of a person because the classic or vantage cars are very costly compare to a normal car (Green &Williams, 1996).
Economic trends affect the classic car market, if the economic is healthy the classic car demand is more and if the economic is weak the demand of cars is less. So it becomes important to forecast the demand in general and within the market (Green & Williams, 1996).
In Ballina, classic car market faces the competition with the other car manufacture organizations. The competition is increase in the market in classic car market segment, because of the use of new technologies, vantage modals and the low cost of the cars. By the competitive trends an organization know that what are the technologies, offers used by other organization (Green & Williams, 1996).
Marketing trends are depends upon social and cultural factors. The classic car shows the look of Ballina’s life style. The culture and trends of Ballina’s affected the Ballina classic car business. The car culture is very strong in Ballina and the classic car is a status symbol of Ballina’s culture. The rich people use the classic car for transportation (Green & Williams, 1996).
Political and Legal Trends:
Political and legal trends include the Acts, policies, legislation, taxation policies and political factor, are affected the classic car segment in Ballina. An organization produces a classic car under the policies and acts. The classic car affected by fuel economy standards and by taxes based on emission (Green & Williams, 1996).
Technology is one of the trends of marketing. In technology an organization use the latest technology about the engine, modals and safety of a customer (Green & Williams, 1996).
Micro Trends are concludes internal factors of an organization. The Micro Trends of an organization are as follows:
Capabilities trends include the internal trends of an organization. It includes the capabilities of an organization to produce a product. It has the resources to produce a product, its workers and employees etc. if an organization can organized these resources, it will be make a good product for the customers (Lamb, Hair & McDaniel, 2008).
In Staffing Trends an organization manage the internal staff. The manager controls the internal and external staff of an organization. A manager can manage the policies and staff related work like control on the employees, manage all the work in right manner. A manager makes the policies for manage all the staff and work in the right manner (Lamb, Hair & McDaniel, 2008).
Equipment and Processes Trends:
In Equipment and Processes Trends an organization can use the internal Equipment and processes for developing a product. If the equipment and processes is good, the quality of a product is also good. A manager can manage the internal equipment and control the process for developing a product (Lamb, Hair & McDaniel, 2008).
In marketing information an organization can use the data from two resources. The resources are as follow:
In primary data collection, you collect the information data yourself by using methods such as questionnaires and interviews. The key point here is that the data you collect is unique to you and your research and until you publish, no one else has access this data. An organization collects the primary data from direct from customer in the form of questionnaires and interviews. An organization can select the group of people and conduct an interview session. It can be conducted at shopping center, at work, at home or in the street on the group of people. An organization can observe the market situation of a product and collect the data about the product (Ferrell, 2008).
Secondary data is a data that has already been collected by someone else for a different purpose. It included the published data and the data collected in the past or other parties. An organization can collect this data from the hotels on its customers through its guest history system, data supplied by the marketing organization, annual company reports and government statistics etc. an organization can collect the data from paper based source and electronic sources like book, journals, directories, research reports, annual reports, internal records of organization, internet, online database, videos and broadcast etc. (Ferrell, 2008).
In business segment an organization evaluate its business nature. In this segment an organization can divide its product in price, brands, technologies etc. for the customers. An organization can fix its product price in this segment (McKinlay & O’Connor, 2007).
In consumer segment an organization find the consumers incomes, locations, consumer’s behavior etc. By this finding an organization can fix its product price according to its consumers.
Geographic segment refers to the location of customer, their culture and religions. An organization can segmented their product according to region, size of metropolitan area, population density, and the climate (McKinlay & O’Connor, 2007).
In demographic segment an organization can include the age, gender, family size, family life style, income, occupation, education of a customer etc. By this research an organization can fix its product price. In car industry the income is more important (McKinlay & O’Connor, 2007).
Psychographic segment refers to the people’s life style, their attitudes, personality and values. A car manufacture develops their product according to the psychographic trends. This will help to increase the market share in specific area or in the other country.
Behavioral segment includes the consumer according to their buying behavior. It divides buyer into groups based on their knowledge, attitude, use of and response to a products.
The market potentials:
After target the market an organization can find the market potential. An organization can use the data from primary and the secondary data sources for increase in market potential customers. After collect the data, an organization can calculate the rate of consumption and purchase rate by the user of the product and service. After this an organization can calculate the price of a product or service. By this data an organization can revise the price of a product or services. An organization can introduce the new technologies for potential customer. It can be help full to find and increase in the potential customer market (McKinlay & O’Connor, 2007).
Market share include the share in the market of a product or a service provide by the company or an organization. After calculating the potential customer of a product the market share is increase. For increase in market share an organization can introduce the new technology and new brands. An organization has good market research and has a good technology; its share in the market is also increase. In Ballina classic car manufactures introduce the new technology and brands for the customers in the market. If an organization has capable to manage its resources and has good technology and innovation in the product, the market share is also increase because a good technology always attracted the customer and the market (McLoughlin & Aakar, 2010).
As a classic car manufacture here is my product, the product name is HOLDEN HD and the qualities are as follows:
Product range means the price of a product of an organization produce. In classic cars the product range differ from its designs and technology used in the car. As a Ballina’s classic cars manufacture only AU $ 15,000 is my product range.
This car has qualities like 202 blue motor, 30” oversize, solid lifters, solid cam, 350 Holly on Redline manifold, 2 10” Thermo Fans, 3 row triple flow radiator, new starter motor, peacemaker extractors Gear Box, Celina 5 Speeds, standard Bango, loud stereo, Break Booster, fuel efficient engine, power stereo, power window, Carburetor (6Cyl), 3 sp manual, 179 (3934cc). It has two –speed power glide automatic transmission. These parts make this car lovable and more efficient.
It has unique style and design which attract the customer who love the classical cars. This car has some unique color, the external color of this car is Red and the internal color is Red and Cream. This color make this car is unique and the style of this car creates the magic of late 70’s.
HD HOLDEN is a unique brand name in classic car industry and in the customers who loves the classic cars. For branding of classical car HD HOLDEN, organization can create a mass advertisement. In this advertisement company can show the feature, qualities and the best things about this classical car. It will be help full to create the branding of this classic car.
The customer service level is good of this organization. Because its employees and workers are serve the best facility for the product.
An organization gives the best warranties for the classical car HD HOLDEN. An organization gives the 3 year warranties for this classical car and its parts.
In the modification Part, Company will provide the color modification and look modification. By this modification the car looks great.
One of the four major elements of the marketing is price. Pricing is an important strategic issue because it is related to product positioning. In pricing strategy an organization can calculates the fixed and variable cost elements which associated with product. Pricing strategy affected the demand and supply of a product. When the price of a product is high the demand is less and the price is less the demand and supply of a product is high. Competitors market and pricing strategy also affected the pricing strategy of a product. If the competitors product price is less the demand of other product is also less (McLoughlin & Aakar, 2010).
The first step in setting the right price is to establish the pricing goals. The main pricing goal of an organization is to earn the profit as much as possible from the market. The positioning of this classical car in the market is batter then the other classical cars. It has good technology and good quality. This quality stands this car in number one in the market in classical car segment. The company has some good discount strategy for the customer like if a customer or organization purchases a large quantity of cars the company has a discount price for them (McLoughlin & Aakar, 2010).
The company currently uses the distribution of classic car through the dealers. The dealers of this company are committed to serve the best products and the service to the customers. The weakness of this company is that, it has no branch in other countries. It is limited in Ballina. But it has a good opportunity to expend their business in other countries of the world. But the local culture and language in other countries is threats for this company.
In the alternative option for distribution of classical car an organization can consider the franchise option. By this option an organization can trained the employee according to the product and use the employee abilities for the product.
Advertisement is the one of the most promotional strategies for selling a product. So, in the selling a classical car an organization can use the advertisement strategy. An organization can use the other strategies like sales promotion and direct marketing of the product.
In promotional strategies the competitors use the mouth publicity for classical car. This is the best way to selling a classical car.
An organization gives the first priority for selling a car is advertisement then second to sales promotion and then after direct marketing. A table of promotional plan for classical car is as follow:
December 2010 to January 2011
February 2011 to March 2011
April 2011 to June 2011
For the classic car promotional strategy an organization can use the advertisement most. Organizations can advertisement through news papers, magazines and the outdoor activities. In sales promotions an organization can use the vouchers, templates etc. and in the direct marketing an organization can create the direct relationship through phone calls, door to door marketing etc.
For the monitoring on effectiveness promotional activities, organization can create the effective advertisement for the target customer. An organization can monitor the promotional activities like phone calls and direct marketing effectiveness. An organization can collect the data from its managers, sales persons and the dealers about the product and try to remove all the weaknesses of product. So this will be help full to monitor effectively promotion strategy.
Auto OnPage. (2009). The Auto Online Customer Magazine. Retrieved November 03, 2010 from http://www.autoonline.com/cps/en/files/090519_Autoonpage_GB.pdf
Ferrell, M. (2008). Ultimate Breakthrough Planning: The Business Funnel Approach. Constellation. USA
Green, G. & Williams, J. (1996). Marketing: Mastering Your Small Business. Dearborn Trade Publishing. Madison: Wisconsin.
Lamb, C.W., Hair, J.F. & McDaniel, C. (2008). Essential of Marketing. Cengage Learning. Mason: USA.
McLoughlin, D. & Aakar, D.A. (2010). Strategic Market Management: Global Perspective. John Wiley and Sons. Barcelona.
McKinlay, I. & O’Connor, M. (2007). Marketing. Pearson. South Africa.
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