How Brand Awareness Relates to Market Outcome - Case Study Example

Vanline Marketing Plan ThuriaHajazi 151098 Instructor: Dr. Saad Al Hoquail Ola Almasri 151532 MKT 201 Project Hala Abualhassan 151296 Alfaisal College of Business Executive Summary Vanline refers to a unique, new and exclusive service with transportation application. This is a service targeting people who have long hours of studying or working. The service targets particularly students who want somewhere to refresh and relax before resuming classes. The product information explains in details what Vanline will offer to its customers. Vanline is a unique service that will be one of a kind in Riyadh. Students in Riyadh have opportunity to increase their concentration and performance due to relaxation services provided by Vanline. The service has strengths and opportunities that will define its growth in the long term. The weaknesses can be overcome as the threats are dealt with through long term strategy. The strategic objectives define where the company wants to be in the long term. The 4P’s explains how the marketing mix ensures the service reach the intended customer. The success measures will be evaluated through the feedback obtained from customers. Product/service information Vanline is a unique, new and exclusive feature within the transportation application like Uber and Careem. This is a service that will target to serve people who have long hours of studying or working. These are people who spend most of their time working in places far away from home. This service will particularly be tailored towards students as the major clientele. Students get long breaks between lectures or lessons but it becomes a waste there are no enough places where they can relax, think, sleep and study. Vanline will come in handy in the management of students’ time in isolated place where they can get rest as well as work on their assignments. Vanline is a convenient van that comprises of high service avenues that students need. Quality furniture is offered comprising of comfortable beds, chairs, desks as well as lighting tools. Vanline will be located within a serene environment that provides students with an ample time to relax and work on their assignments before resuming classes. Vanline comprise of a sophisticated security system to enhance the safety of clients and keep at bay burglars and other criminals who may want break in. No stranger can access the place since the van doors a pass-code that is unique to every client. The company will operate with esteemed transportation business to ensure quality as well as brand recognition. Cultural/economic/competitive/SWOT Analysis The company’s mission is to provide new, useful services to residents of Riyadh. The vision of the company is to make students more comfortable in the course of their working hours and expand service to the entire of Riyadh. The company targets to improve the performance of clients through providing services such as sleeping, having fun and relaxing. Students will focus and concentrate more after getting services from Vanline. The conservative nature of Saudi culture is expected to cause some challenge in the promotion of the product but with the right attitude and focusing on creating awareness, success will be achieved (Kotler, 2012). The company expects to face competition from the traditional hospitality service providers like hotels who provide accommodation to students. However, price will be an edge for Vanline for students who cannot afford hotel services. Vanline is unique since it does not target to provide accommodation but an environment where students can relax, catch up and refresh before resuming their learning. Consequently, they are at liberty to travel to their homes in the evening but be assured of stress-relieving services during the day. Strengths Weaknesses • First Saudi firm that offering this service • Provide services that enhance the standard of living • Safe and reliable • Good Prices • Creative idea • New, risky industry •Unclear expectation • Targeting a limited segment of the market-students Opportunities Threats • Chances for Growth and expansion • Limited number of competitors • A chance to Improve the quality of student life • Practicality and efficiency • Take part in Helping workers managing their time • Pricing of services • Improvement of the application • Unclear revenue model • New competitors • High start up costs Strategic Marketing objectives The company envisions becoming the best service provider for comfortable and serene environments for students looking for a place to relax and study. Quality will be the key driving force besides market growth (Luan & Sudhir, 2010). There are marketing objectives that the new firm intends to achieve which include: Establishing a formidable brand name Improving the quality of time for workers Attaining profits that satisfy the aims of the shareholders Expanding the business in Riyadh and even beyond Bring a new service into the market Buy more vans and equip them effectively for service provision as the market grows To grow a brand that is easily recognizable. Segmentation/Target market/positioning The company targets a specific market that comprise of students who study a long distance away from home. The target market is the students who are need for a serene environment to relax and refresh before resuming their learning. As the only company offering the services that have been described, a strong position will be demonstrated for customers as well as society in general. Vanline is distinguished in three key areas that comprise of long design, unique services, and brand naming. Moreover, professional drivers as well as strong management would enhance the company services more effectively which will lead to improving overall company performance, quality improvement, and experience. The company will hire Saudi employees in order to observe Saudi employment laws hence benefiting the community in a significant way and accomplishing growth and innovation (Blythe, 2009). The company will position itself as the best service provider and establish its dominance in the market. Students are a ready market since education since tertiary education has become an important part in the modern society’s growth. 4 P’s Strategy The 4P’s makes up an important component of the marketing mix that designed to ensure that the product reaches the intended customer. By the using the marketing mix, the company ensures that the right produce is put in the right place (Zeithaml, Bitner & Gremler, 2013). The marketing mix is implemented through the 4P’s of marketing that comprise of Product, Price, Place and Promotion. Products: Product characteristics and features enhance its marketability. Vanline will be promoted a core service to students who cannot afford hotel accommodation but are need of a place to relax before resuming their learning. Vanline will offer services to students who study far away from home and they are able to find a serene environment to rest, relax or study. The vans will be equipped adequately to provide a variety of services to students who have long breaks and can hardly find a place to refresh, relax and do their assignments or study quietly without disturbance. Some of the services available will include sleeping, relaxing, studying and having fun. Students will find an opportunity to unwind and go back to class energized and alert. Customers will relieve stress and be ready for the next task ahead. Place: The company targets to provide its services within Riyadh as a base market. There is a huge market in Riyadh and colleges and universities providing education to students from all kinds of backgrounds will be part of the huge market that the company will tap into. The quest for quality education has pushed many young people to cities to look for education opportunities. However, in the long term the company will consider extending its service provision to other area in Saudi Arabia. Vanline targets to satisfy the Riyadh market before expanding to other places. Promotion: The company will use several media platforms to reach to clients across Riyadh and beyond. Advertising and promotion will be done vigorously to create customer awareness. Social media will be used as a major platform to reach the target market (Huang & Sarigöllü, 2014). Facebook, Instagram, snapchat, and Whatsapp platforms will be used in reaching out to the young clientele. Facebook page for the service will be opened to encourage current and potential customers to sign up. The company will also use billboards that will be strategically placed within Riyadh to create consumer awareness. The company expects the number of referrals to grow as more students enjoy the services provides. Testimonials from students who use the services will be used to lure more students to sign up for the services. Price: Price covers the amount that the end user is expected to pay for the service. Pricing will affect the service marketability. This relates to what perceived value of the service is to the client as opposed to the objective costing intended by the service provider (Shimizu, 2014). Pricing will be affordable to students but quality will be enhanced to ensure customer satisfaction is attained. Price will be based on duration of service but discount will be provided to students who will sign in as a group to encourage economies of scale in providing the services. The company will use a margin to cover the costs incurred in the provision of the services and add a reasonable profit. Price cuts will be used to penetrate into the market and be adjusted up once the Vanline brand becomes more recognizable. Success Measures The success of the Vanline will be determined through the population of students who would have signed up for the service within a period of one year. Customer satisfaction will also be a good measure for success and the clients’ growth through referrals will indicate positive growth (Blythe, 2009). The company will use feedback from customers to rate its performance and improve service delivery to customers. References Blythe, J. (2009). Key Concepts in Marketing. Los Angeles: SAGE Publications Ltd. Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer New York. Kotler, P. (2012). Marketing Management. Pearson Education. p. 25. Luan, Y. J., & Sudhir, K. (2010). Forecasting marketing-mix responsiveness for new products. Journal of Marketing Research, 47(3), 444-457. Shimizu, K. (2014). Advertising Theory and Strategies, 18th edition, Souseisha Book Company  Zeithaml, V. Bitner, M.J. & Gremler, D.D. (2013). Services Marketing: Integrating Customer Focus Across the Firm, (6th ed), New York: McGraw-Hill,. Read More