Dolphy Pops Marketing Strategies - Example

Table of content pg 1.0 Executive Summary 3 1.1 Company Background 3 1.2 Product/Services 3 1.3 Objective/Creative Brief 3 1.4 Designed Advertisement 4 1.5 Target Audience 5 1.6 Central Idea/Message/Theme 5 1.7 Creative Appeal 5 1.8 budgetary requirements 5 2.0 Required Time schedule 6 2.1 Competitors Product 7 2.2 Implementation strategy 8 3.0 Conclusion 9 3.1 Recommendations- 10 References Dear Jack Thank you very much for giving us the opportunity to review your company Dolphy Pops and your new range of Popsicles Dolphy Pops product. We are happy to inform you that we have sincerely done a very good work concerning the marketing and advertising strategic plan concerning your new product. We have actually gives out our recommendation in regards to the advertisement of Dolphy pop product and have provided helpful strategies which can be altered in order for you achieve your utmost best in sales target. We hope that our findings will be very helpful and provide you with an insight on available opportunities for your newly found company and introduction of your new product into a crowded market. We are pleased to say that our analysis depicts a highly successful advertisement; therefore, a high rate of sale should be on its way. Thank you once again for your trust in us, Yours Sincerely, Strategic Business option Centre. 1.0 Executive Summary The Marketing plan starts by giving a brief background of the company and the product it has newly launched in the market. It gives objectives aims and main targets of the company. The plan gives the general guidelines on the advertising strategy of the company and what it can use to get reasonable share of the market. It gives the targeted budget and the sales of projection of the year. It concludes on the plan and gives recommendation and way forward. 1. Company Background Dolphy Pops is newly found company, introducing a new range of food product in the market. The company was established in order to produce children and adult food, although this is a crowded market Dolphy Pop has set out to produce products with unique features and benefits to its consumers. 1.1- Product/Services Not like many companies product, Dolphy pops gives natural, sugar free product and reach in diet, keeping the children healthy from the very first stage is very important for any parent and our product will manage to do that. To attract to kids we have Dolphy the dolphin, who encourages children to be healthy with the message “healthy and nutritious can be delicious” which is shown on the packaging of each Dolphy Pop. (Philip and Gary, 2009) 1.2- Objective/Creative Brief The main objective of Dolphy pop is to provide highly nutritional food good for young children and parents as who are our main customers. In order to attract both middle class and high class, Dolphy Pop has taken wide range product which can meet the needs of each class of people. The marketing strategy of the company is to classify and designate their markets hence concentrating on those market segments. (Philip and Gary, 2009) 1.3- Designed Advertisement The designed advertisement for Dolphy pop s is a colourful and exciting delicious food in order to attract the users of the product Dolphy is also prominently displayed on the advertisement as well as the online ads, brochures and local TV station and radio stations. As mentioned in the creative brief the advertisement is also old people, this is done through advertising during prime times. Bill boards will be erected in strategic places with pictures on how someone is eating. Target Audience In order to market Dolpy pop product, the market segmentation is going to be geographical segmentation, age of the client and income of the potential customers. In geographical segmentation: The market will be divided into regions and the focus will be into four regions classified as America, Asian countries, Africa and Europe countries. In all these regions the company will set up branches which will deal with production and distribution of the product, market research and identification of opportunities for the product. The main aim of geographical segmentation is to expand the market from North America to other parts of the world. Population distribution will be the major determinant in selecting these regions. In segmentation by Age: The target of MiPad will be based on medium aged and youths, the medium aged here will target majorly business community where we will produce a product which will be business children oriented. In income segmentation: Central Idea/Message/Theme The central massage which will be relayed by the Dolphy pop Company is, “eat healthy leave longer”. This will means one meal all the nutrients together. 1.4- Creative Appeal- Will use some of the most attractive ads in the internet, brochures, user guide to appeal to target market, celebrities will also be used to attract their followers in buying the product. (Kapferer, 2001) 1.5- Media We will use both international news papers and local news papers in advertising, social media will be used also and ads too. 1.6- Budgetary requirements- Marketing budget Items cost in US dollars personnel and administration 100,000 Television Adverts 15,000 Newspaper Adverts 8,000 Bill board 30,000 Bronchus and Catalogue 9,000 Online Marketing 7,500 Sales promotion Gifts 40,000 CSR 150,000 Total 359,500 2. Required Time schedule- The time period taken to create the advertisement was approximately one month beginning on the 15th of October 2013 and finishing on the 30th of March 2014. The short time taken in the production of the advertisement is cost efficient as the company saved on labour costs. 2.1- Competitors Product- The competitors are other food producing companies like, Tofi, Claid and others which are involve in producing the young children food of different types. Dolphy is unique among them since our product can be used by both parents and children at the same time. 2.2 Implementation strategy Dolphy pop product will be introduced in market on December 3rd where sales promotion will be launched by the chief executive officer. The total cost of the sales promotion will be $350,000. The main objective of this promotion first is to create awareness of the product to our potential customers, second is to educate the channel distributors and other agents on the product; samples will be given out to some celebrities who will accompany the promotion caravans to attract other potential buyers, the advantages and disadvantages of the product will be explained during the promotion period. In January the Dolphy pop will embark on Television and radio promotions in which the product will be advertised during the prime time that is during news hours and other popular show times. This promotion will go up to mid march 2014 In April we will embark on the advertisement using the bill boards and news paper, the bill board will be erected in major road junction. This will run for two months While in June to August the company will use social networks in advertisement campaign to reach young population. The company will use blogs, face books, twitters and others like emails. This will boost awareness increase market penetration. September the company will roll out social corporate responsibilities to where we will give sponsorship to less fortune student to colleges. This will be the first public relationship strategies to be rolled out to help in marketing the product. By the end of the first trading period, Dolphy pop projected sales revenue to be $90 million, the whole sale price is given at $ 120a unit while cost per unit of MiPad will be $90, the total units sold or sales volume is estimated to be 750,000 units. The fixed cost is not included in the cost per unit. The total loss for the first year is estimated to be $ 5million. From the calculation of the breakeven analysis it is clear that the breakeven point will be reached after selling 1,167,500 units. This target will be attainable early in the second trading year of the product ceteris paribus Projected sales revenue graphically presented Projected sales revenue graphically presented 3.0 Conclusion Overall, the Dolpy product introduced by Dolpy pop Company has had a successful campaign. The attained target market has been successfully established and attracted. Also the advertisement and design of the product is efficient and eye catching. The colours and character Dolphy pop product make a great addition to appealing to the target market. Budgetary requirements and time frame have also been suitable and cost efficient. In terms of the report all aspects have been addressed accordingly. No additional factors have been introduced to the campaign or product so far. 3.1 Recommendations- The chief marketing officer of the company should be given the sole responsibility of implementing this marketing plan. Measures should be taken on the customer satisfaction by controlling the quality of the product getting into the market, this will ensure only product of high quality and recommended standard are sold to customers hence keeping the nation healthy. The marketing department should work closely with the production team; where by over production and under production will be properly managed since excess supply or undersupply will affect the market equilibrium. The marketing department should be charged with the market research where they will assist in gathering market information concerning customer taste and preferences. The department should also assist in giving information on the market trends, new technologies entering the market and the new opportunities available to be exploited. Quick respond measures should be implemented to counteract competitors move in the market so that the company can maintain its market share. The level of implementation should be reviewed after each and every three months, the variation in the planned budget and actual budget should be noted and appropriate measures be taken to address the variation. References Kapferer, J. (2001) Reinventing the brand. NY:Kogan Philip Kotler. Gary Armstrong.(2009) Principles of Marketing Pearson Education Inc Prentice Hall, Read More