Marketing Management Promotional Plan

Question: Explain Marketing Management? Answer: Introduction The study of the assignment is based on the promotional plan of a new tablet, which will be launched in the near future. The launch of any product certainly means that the product is being introduced in the market. The introduction part plays a huge role of significance for the future progress of the product as the consumers get to know the product for the very first time. The study has gone through the various sections of the launching program that will introduce the product within the market (Dibb and Simkin, 2009, p. 78). The firm needs to target a certain market, which has the demand as well as the potential to buy the product. Moreover, the competitors of the firm within the industry will be highlighted and the various tackling process of these rivals has been elaborate within the study. The study of the promotional plan will enable the reader to understand the launch of the campaign along with the reflection of ethical and social dimensions of the plan. Choosing and justifying a target market for the Tablet The firm of the new tablet needs to select the target market with intense care as the popularity of the product within the consumers totally depends upon the selection of the market area. As the product is an electronic based and update technological product, the firm will have to select the market carefully. The demand of identical products within the market should be well analyzed by the management of the firm in order to make the new tablet popular within the industry. Therefore, the tablet should be launched in a certain area, which is updated, and the society of that particular area has the majority of young people (Pinson and Jinnett, 2013, p. 89). The management needs to fulfil this criterion of target market, which will definitely make the new tablet a successful product of the firm. Meanwhile, this should also be highlighted that selecting the target market is not enough, as the product needs to be of high quality. Moreover, as the product is a new comer in the market, the firm needs to sell the product at a relatively low price. This will attract the tablet users and the product will get massive popularity (Weinstein, 2014, p .69). This will also provide a huge scope for the firm to increase the price in the recent future, due to the huge popularity and quality feedback of the new tablet. Sketching of a positioning map of competitors The sketching of position map of competitors within the industry that will provide the Tablet immense competition has been highlighted below: (Source: Created by author) The above graph represents that the new Tablet will come under the section of high quality but low price. The various companies that will provide the Tablet with completion are Apple, Blackberry, Google Nexus, Microsoft and various Local mobile brands. Digital promotional tools The DIGITAL promotional tools refers t o the various updated and modern technologies that are used for promoting any new product in the market (Blocher, 2013, p. 202). These tools massively include the various elements such as e- mail marketing, online marketing, digital advertisements etc. These section of marketing influences the consumers to a massive level, and they get attracted to the products. The newly launched tablet should use this digital promotion as one of the major tools during promoting the product (Ortelbach, 2014, p. 163). The first step that should be taken is releasing digital banner in the markets with the name, picture, and price highlighted on it. This will definitely make the consumers aware of the Tablets entry within the market. Moreover, the banner should be attractive enough to catch the eyes of the consumers in the marketplace. Using of the DRIP model The use of the DRIP model will help the Tablet in various ways, which will start from making the product a bit different from the other identical products in the market. The study of the DRIP model given below will clear the exact concept and use of the model (Charatan, 2012, p. 698). Figure 2: DRIP model (Source: Marconi, 2011, p. 107) Planning of a promotional launch campaign The next step after the successful launch of the banner will be to promote the Tablet through the various mediums of the internet marketing. Firstly, this will include the e mail marketing, which will make the consumers aware that the Tablet can be considered as a buying option. Moreover, sending emails will make the consumers go through the detailed features of the Tablet that will attract them in a massive manner (Caswell, 2010, p. 83). The management can also use the low pricing strategy to attract a huge section of consumers towards the product. Traditional tools within the promotional launch campaign The launch of the Tablet will also use various traditional tools, which will enable the product to gain customer attention and satisfaction within a small span of time (Petunkina, 2012, p. 232). However, all these will only be successful when the Tablet will have high quality within it and will be able to meet the customer needs. Reflection of ethical and social dimensions The ethical and social dimension should be taken well care off during the launch of the product in the market. Meanwhile, the firm needs to be aware that the Tablet should be satisfying the consumer to the maximum possible extent, which will enable them to build customer satisfaction (Pinson and Jinnett, 2010, p. 29). However, all these sections should be done after the evaluation of all the ethical and social responsibilities of the firm. Justifying the choice of source The choice using the DRIP model will turn out to be a successful one as the model will differentiate the Tablet, reinforce a brands message, make the consumers aware of the brand and will attract the consumers towards the new Tablet. Moreover, the choice of selecting the low price strategy will help the firm in a massive manner as most of the consumers of any industry have a huge tendency to get attracted to low price products. Conclusion The study of the report quiet clearly concludes that selecting the target market is one of the major criteria that need to be done in a satisfying manner in order to make the product successful in the market. The promotion strategy of the Tablet has been developed in a constructive manner, which will help the product gain excessive popularity within a small span of time. Moreover, the study also highlighted the fact that the promotional activity of the new Tablet has also maintained all the ethical responsibility by implementing the digital and traditional promotional tools. Recommendation The first and foremost recommendation is that the quality of the Tablet should be high class, which will make the users experience a payback for their money. This can only be achieved when the Tablet will satisfy the consumer needs with ease. Moving to the second recommendation, which the pricing strategy of the Tablet should be constructed in such a manner so that it easily attracts the consumers. Therefore, the firm at the primary stage should implement the low pricing strategy for the product. However, the management should well scrutinize the sales progress of the Tablet and should increase the price accordingly. This will create a huge demand for the product within the market and consumers will be ready to pay more for the Tablet than before, thus making the Tablet a successful product. Reference List Books Dibb, S. and Simkin, L. (2009). The market segmentation workbook. London: Routledge. Marconi, J. (2011). Creating the marketing experience. Mason, Ohio: Thomson Pinson, L. and Jinnett, J. (2010). Marketing. Fullerton, CA: Out of Your Mind ... and into the Marketplace. Pinson, L. and Jinnett, J. (2013). Target marketing for the small business. Dover, N.H.: Upstart Pub. Co Journals Blocher, M. (2013). Market Testing und Target Costing. VM, pp.199-204 Caswell, B. (2010). The promotional campaign. World Patent Information, 12(2), pp.83-84 Charatan, F. (2012). The launch campaign on new products. BMJ, 324(7339), pp.698e-698 Ortelbach, B. (2014). Multi Market Target. CON, 17(3), pp.163-172 Petunkina, N. (2012). Selecting the target market. Metallurgist, 16(4), pp.232-233 Weinstein, A. (2014). 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