Social Media Marketing Creative Strategies -Myassignmenthelp.Com

Question: Discuss About The Social Media Marketing Creative Strategies? Answer: Introduction The report helps in analyzing the segmentation and targeting of the respective product Mixed Fruit Nectar that is prepared by Max Beverage Company situated in Sri Lanka. The different ascertainments are to be done in order to understand the different marketing objectives of the company to sell the respective product. The different strategic marketing objectives along with media strategies has to be developed as this will help in understanding the marketing of Mixed Fruit Nectar product in the entire market. The main aim and purpose of the report is to understand the different creative strategies that can be applied by the respective company to expand their marketing of the product in the market. The different accounting strategies will be discussed in the report, as this will provide a clear view on the marketing of the respective product. The structure of the report includes vision, mission along with marketing objectives of the company. The different public relation strategies along with creative strategies will be discussed in an effective manner, as this will help in understanding the marketing of the respective product in the competitive market. Background Max Beverage Organization is one of the most prestigious beverages companies in Sri Lanka. The target customers of the respective company are the entire rural market, as they do not receive sufficient carbonated drinks. There is huge demand for the carbonated drinks in the market of the rural areas and the supply is not sufficient in such areas as well (Max Beverages (Pvt) Ltd, 2018). The Max beverage company is trying to reach to different rural areas and satisfy the demands of the customers in entire Sri Lanka. The different products sold by Max Beverage Company are Max Ginger, Cola, and Fruit Nectar. There are different training programs that are conducted by the respective company to train the different employees for making the carbonated soft drinks healthy in nature. The company applies the different marketing techniques as this helps in increasing the market share. Vision The vision of the company is to be the preferred supplier and trademark of the quality fruit juice and carbonated drinks in Sri Lanka. Mission The mission of the Max Beverage Company is as follows: Ensuring the utilization of the high quality along with cost effective kind of raw materials In order to provide the high quality products with help of advancement n technology, systems and processes Establishing the trademark through the marketing that is innovative in nature Create proper satisfaction among customers through delivering the services along with products that will help in exceeding the satisfaction among customers Ensuring most advantageous benefits to the different shareholders Providing different opportunities equally in the environment wherein creativity and initiative of employees assist in achieving the vision of company Limitations and Assumptions There can be limitations for the product introduced by Max Beverage Company that includes the competition faced by the respective company with the existing competitors in the market. Max Beverage needs to analyze the entire situation of the market in an effectual manner, as this will provide them the overview of the market in an effective manner. Target Market Market segmentation is defined as the process of dividing business market that includes both potential and existing customers into different sub groups that will be based on the different types of shared characteristics. Furthermore, targeting is defined as the area wherein the market wants to sell the different products and services and identification of the target market is essential in nature as well (Blakeman 2018). Segmentation Segmentation Profile 1 Profile 2 Profile 3 Geographic Rural and regions that is predominately hot and humid Urban areas Populated regions Demographic Students and individuals across all income groups from and above 3 years age group Restaurants and hotels Working and non working individuals Psychographic Health conscious customers Consumers who are conscious about quality Consumers who are inclined towards the natural products Behavioral Income Status Brand Loyalty Usage rate of Product Target Market The target market for the respective product of Max Beverage Company is although all the individuals; however, youth is the main target (Baker and Saren 2016). The main reason due to such selection of the target market is the population of the youth in Sri Lanka and this will help them in establishing the market in the competitive market in an effectual manner (Blakeman 2018). The other reason for choosing the youth as the target market is that in the present scenario, there are individuals who are becoming health conscious and their ability to spend on the natural products that will be effective for their health as well. Primary Market Kids who are fond of fruit juice Elderly individuals Working individuals Teens Youth Secondary Market Airlines and railways Travel industry Schools and Colleges Movie and theatres After the segmentation and targeting has been done of the respective product of Max Beverage Company, the new perspectives for selected product are as follows: It has been seen that in the target market, the trend of soft drinks is huge in nature and the customers prefer soft drinks to be fit and the juice introduced by Max Beverage Company is nutritional in nature and it will serve the demands of customers as well. The changes in the lifestyle of the individuals has to be changed such as they can be growing millennials In this juice, there is 0% fat and the cholesterol level is less and this will help in benefitting the customers to have a fit life. The better understanding of the requirements of the customers is essential in nature by the company. The changes in the lifestyle can help the company in providing desired products in an effectual manner The cost is less than the other juice products that is sold by the competitors in the market. This is another advantage for the company and this will help the company in growing fast in the future as well. The different new habits of the customers relating to the social media has to be ascertained in an effective manner From the findings, it can be analyzed that these factors will help the company in growing in the future at a huge rate. However, there are threats in the business as there is large amount of competition in the existing market and the processing cost is high in nature. The other issues that can be threat in the future are the high cost in order to meet the international quality standards. The objectives of the market strategies that can be adopted by the Max Beverage Company are as follows: The first year objective is that the company is aiming at 3% share of Sri Lanka in the juice market with sales volume of 200,000 The second year objective is to achieve the break even on the new product that is launched However, as there are different kinds of strengths in the business of Max Beverage, the company can grow to a huge extent in the future. This will help the business to succeed against the other juice companies in the competitive market in an effectual manner. The growth will be potential in nature, as this will help in understanding the position of the other competitors in the market. Positioning Positioning is defined as the place wherein the respective brand occupies the minds of the customers. This is defined as the effort that will help in influencing the perceptions of the consumers in an effectual manner. The correct kind of positioning helps in occupying clear, unique along with advantageous position in the minds of the consumers. Significance of the findings From the above perceptual map, it can be analyzed that there is huge competition in the market for the new product named Mixed Fruit Nectar. It has been seen that there are fruit brands such as Minute Maids and Frooti that are providing their target customers the best quality of fruit juices and that are healthy in nature as well. However, there are different benefits to the introduction of Mixed Fruit Nectar that are as follows: The respective fruit brand is providing the best quality of fruit juice to the target customers who are health conscious. The decision making criteria has to be kept in mind as this will help the company in providing such products in an effectual manner The Mixed Fruit Nectar juice is of high quality and the price is cheap as all the individuals in the market can afford this. The different alternatives has to be selected by company as this will help in understanding perception of customers There are different marketing objectives that can be used by different companies in order to innovate their product in an effectual manner. The marketing techniques that can be used by companies are related to the four or seven Ps of marketing, as this will help in making the product more successful in the market. The respective company needs to: Increase the sales of the company by introduction of new product or innovating new product Building proper awareness of the respective brand as this will help in increasing and growing the market share Improving the relationship between the stakeholders as this will help in targeting new customers in the market (Blakeman 2018) It helps in enhancing the relationships with the customers who are targeted by the company and this will help the company in growing their sales and revenues in the market From the above perceptual map, it can be seen that there are different existing competitors in the market. The Frooti brand along with Minute Maid is the ones who are better in marketing their products and they have collected huge amount of revenues in the competitive market as well. However, the Mixed Fruit Nectar brand will attract more customers in a potential manner as they are providing the same kind of fruit juices with low fat and cholesterol in a much lower prices and this will help them in gaining competitive advantage. Concept of Objectives The marketing objectives are defined as the set of different goals that has been set up by different businesses. When the company needs to promote their products and services to their different customers who are potential in nature, marketing strategy is essential in nature in order to convince them in an effective manner. The different marketing objectives/strategies are helpful for the company in order to achieve the different organizational objectives (Blakeman 2018). Strategic Options Particulars Key Findings Segmentation and Targeting The juice that has been targeted in the Max Beverage Company has different unique characteristics and this will help the company to gain maximum competitive advantage. The company needs to segment the product in such a manner in the market, as this will help in attracting the customers. The Max Beverage Company has to analyze the pricing strategies of the other competitors, as this will provide them the idea about pricing their product in an effectual manner. Positioning The perceptual map has helped in understanding that there are different potential competitors in the market. The respective company can use the price quality approach, as this will help the company in gaining competitive advantage in the entire competitive market. The positioning will help the company in marketing the new or existing product in an effective manner in the entire market. Strategic Marketing Objectives There are different SMART and strategic objectives that can be adopted by Max Beverage Company in order to improve their marketing strategies in an effective manner. The different strategic and SMART objectives are as follows: Max Beverage Company needs to re-launch the existing product with implementation of innovative strategies, as this will increase the sales and revenues in the market. The point of parity and taste is required to be provided to the individuals in an effective manner as this will attract customers to buy their products in the market Max Beverage Company needs to increase the sales along with share in the market with proper positioning of their brand in the market. The orange juice is beneficial for the health of the individuals and it helps in providing refreshment among individuals. The building of awareness of brand is essential in nature, as this will help in gaining competitive advantage in the market. The marketing distribution channels is essential in nature as this will help in distributing their products through the entire business Max Beverage needs to be specific with the idea of selling the product wherein they need to be clear and create positive and long lasting image on the minds of the individuals in an effectual manner. These particular strategy will help in enhancing the relationships among the customers in the market and this will increase their sales Marketing Communication Marketing Communication is complex and fundamental part of the marketing goals of the company. The marketing communication is done with the help of different promotional activities that will help the company in succeeding in the future in an effectual manner. The different usage of media is done, as this will help in deploying to communicate with the market and sell the different goods and services to the customers (Kotler 2015). Proper identification of target audience is essential in nature, as this will help in determining communication objectives. Significance of integrated planning The integrated planning is required in marketing communication by the organizations as this will help in reinforcing each other and this will improve the effectiveness of marketing as well. The marketing mix is essential in nature that can be adopted by Max Beverage Company, as this will help in gaining competitive advantage in the entire market. Integrated planning is required in re-launching the existing product of Max Beverage Company in an effectual manner. The planning is essential in nature as this will help in understanding the position of other competitors in the market and then take steps that are required in order to be more competitive in nature. Secondly, integrated planning is essential for the different officials of the respective company in order to understand the techniques that can be applied by them in order to increase the sales of the company along with revenues of the respective company. The integrated planning is essential in nature in order to understand the process of building awareness among the customers and generate loyalty for the respective brand Lastly, integrated planning is essential in nature, as this will help the respective company in building and enhancing the relationships with the customers. The enhancement in relationship of customers is essential, as this helps in understanding the demands of the individuals in an effectual manner. The marketing mix of Max Beverage Company is done as follows: Mixed Fruit Nectar is 100% fruit juice company that will be marketed and produced by Max Beverage Company (Armstrong et al. 2015) Sri Lanka produces more than 60 million tonnes of fruits and Sri Lanka has strong raw material base as well The product will be in the growth stage of product life cycle wherein the sales will be low, there are few competitors in the market and there will be huge innovation in the product as well (Baran and Galka 2016) The main objective of the company is to create awareness of the product that will offer basic product and it creates awareness among dealers and early adopters as well There are different fruits such as Orange, Apple along with Pineapple that can be purchased from different states in Sri Lanka (Gummesson, Kuusela and Nrvnen 2014) This will help in expanding their reach in the industry of food service by securing their placements in restaurants, hotels and airlines (Belch et al. 2014) As the product Mixed Fruit Nectar exists in the market, the strategy of pricing is introducing the specific product at a lower price. This will help in creating huge demand in market and compete with the other competitors in the market as well. Max Beverage Company has used the strategy of pricing that will lie on strategy of penetration with low price and high quality as this will: For re-launching of the existing product in the market Low price as to capture the shares in the market (Ashley and Tuten 2015) This will expect to generate profit in the volume Promotion As the product innovated by Max Beverage Company is in the growth stage, the objective of the company is to create awareness through advertising that is informative in nature (Andrews and Shimp 2017) Proper usage of print media along with hoardings and advertisements and tie up with different television channels (Blakeman 2018) In film advertising is the effective form as this will help in making the brand of the juice famous in nature (Chaffey and Ellis-Chadwick 2016) Conclusion Therefore, it can be concluded that the report helped in understanding the different implementations that can be made by Max Beverage Company in order to increase their market share. The findings in the entire report were related to the segmentation, positioning and targeting of Mixed Fruit Nectar in the competitive market. The profile of the customers had been shortlisted as their target customers as this helped the company in understanding the preferences of the customers of the respective age group. The new habits among the customers related to media had been understood to the company as this helped the clients to understand the changes in lifestyle of the customers. The new customer groups had been identified as this helped the company in analyzing the competitive positioning of their product in the market. The perceptual map has been prepared as this helped the company in understanding the other competitors in the market. The integrated planning approach has been made aware to the respective company as this helped them in targeting the customers in an effective manner. 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