MARKETING PLANNING PROGRAM DEVELOPMENT
The development of the marketing strategy and selection of a target market(s) tell marketers which customers to focus on and what needs to attempt to satisfy.
The next stage of the marketing process involves combining the various elements of the marketing mix into a cohesive, effective marketing program.
A product is not just a physical object, but it is a bundle of benefit or values that satisfies the needs of consumers. The needs may be purely functional, or they may include social and psychological benefits. For many products, strong symbolic features and social and psychological meaning may be more important than functional utility.
1. BRANDING
Choosing a brand name for a product is important from a promotional perspective because brand names communicate attributes and meaning. Marketers search for brand names that can communicate product concepts and help position the product in customers’ mind.
One important role of advertising in respect to branding strategies is creating and maintaining brand equity.
Brand equity can be thought of as an intangible asset of added value or goodwill that results from the favorable image, impression of differentiation, and/or the strength of consumer attachment to a company name, brand name, or trademark. Brand equity allows a brand to earn greater sales volume and/or higher margins than it could without the name, providing the company with a competitive advantage.
The strong equity position a company and/or its brand enjoys is often reinforced through advertising.
2. PACKAGING
The package is often the consumer’s first exposure to the product, so it must make a favorable first impression since as many as two-thirds of all purchases made in the supermarket are unplanned.
A package must not only attract and hold the consumer’s attention, but it must also communicate information on how to use the product, divulge its composition and content, and satisfy any legal requirements regarding disclosure.
Design factors such as size, shape, color, and lettering all contribute to the appeal of a package.
Package can be as important as a commercial in determining what goes from the store shelf to the consumer’s shopping cart.
Products use packaging to create a distinctive brand image and identity.
3. PRICE
The price must be consistent with the perceptions of the product, as well as the communications strategy. Higher prices will communicate a higher product quality, while lower prices reflect bargain or “value” perception.
Factors such as product quality, competition, and advertising all interact in determining what price a firm can and should change.
MATERI KULIAH 4
