Marketing Decision - Essay Example

Part 2 will give a brief detail on the product that was created and the approach that will be made using MIMIC approach. Therefore; once the readers have completed reading the research paper they will be able to understand the message that is being communicated based on the core strategy that has been implemented. The readers will be aware of 1. Targeted market 2. The use of internet 3. The method for measuring advertising effectiveness.

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Marketing Decision Making 1 The elements of Marketing Communication Mix (MIMIC) consist of advertising, direct marketing, sales promotion, publicity/public relations and personal selling; a new business owner should use these elements to pursue their advertising and racketing objectives to have a successful business in today’s society. “MIMIC is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent and compelling message about the organization and its products” (Kettle, peg. ,1992). Advertising is mandatory for to solicit the business in a nonparallel manner and to promote ideas, goods or services by an identified sponsor. Direct marketing includes communication to targeted consumer audience that obtains an immediate response and an enlightening lasting consumer relationship. Sales promotion should include short ERM incentives to persuade the sale of the businesses product or service.

The business should focus on good public relations to maintain a strong relationship with the various publics by obtaining flattering publicity, building a good corporate image, and taking control over unfavorable rumors, stories and events. However; personal selling is strong point of building consumer relationships and making the business profitable. Http://www. Developed. Com/premix. HTML Marketing Decision Making 2 Pros and Cons of MIMIC ADVERTISING Provides exposure to the largest, most geographical dispersed audience at the lowest cost per head.

Cost can add up quickly DIRECT MARKETING Enables businesses to communicate to reach out directly to consumers using direct mail, online marketing and catalogs etc. Can be considered a nuisance by the general public. SALES PROMOTION Offering free goods and services such as coupons, vouchers, gifts and prizes, discounts, and samples. Promotions are short lived and implemented to push consumers to buy. PUBLIC RELATIONS Developing socially conscious business practices and able to build relationships with your general public, consumers, shareholders, employees, partners, and competitors.

Can be characterized as shady political lobbying, such as diverting the truth as opposed direct promotion. PERSONAL SELLING Able to persuade through a variety of tools. Can increase the sales once a rapport is built with the consumer. Can become very expensive throughout the marketing process. Http://www. Sales-and-marketing-for-you. Com/marketing-communication-mix. HTML Marketing Decision Making 3 Part II: Application to Product/Service Glamorous Designs is a product that was introduce to the retail world in 2011 in Phoenix, AZ. Glamorous Designs consist of trendy, classy, unique accessories for all age groups.

Glamorous Designs has been marketed through internet sales, direct mail, infomercials, catalogs as well as radio advertisements. The product was created for all consumers wanting a high class trendy fashionable look of value. Nevertheless; the business is focused on convenience, making sure the consumer pays a small amount for good quality merchandise and stylish unique designs. Glamorous Designs has become successful due to implementing the MIMIC approach into their innovative business strategy due to delegating various assignments to the Marketing, Finance, Operations, HRS and R department. While marketing

Glamorous Designs it was mandatory that the four Up’s of marketing were used (product, price, promotion and place). Glamorous Designs focus is on the best promotional skills to make their consumers familiar with the good quality product and eager to purchase at retail price or an advertising sale. The message that is intended to communicate throughout the business based on the core strategy developed by Glamorous Designs is to have everyone and everything lined up to support the purpose of the business. The chart below describes the structure that Glamorous Designs followed to continuously be profitable.

Marketing Decision Making 4 High Performance Team Attack Leaders attack obstacles at all levels. Position Leading firms are forming entrepreneurial teams to promote innovation and locating them on the “edges” of their organizations, closet to the customer. Delegate Management controls through vision, culture, and regular updates. Inspire Leaders close their gap through training and culture. Plan It welcomes iteration and eliminates distraction. Identify Observe the customer. Experts use a technique known as Customer Immersion. Expand Ask partners throughout the supply chain to bring ideas.

Differentiate Make the Strategic Positioning statement stand out. Compel Humans communicate through stories. The more compelling the more likely they’ll get passed to others. Track A process that is systematic for putting an organization to work. It provides measurable feedback. Glamorous Designs will implement the MIMIC approach through the internet to advertise the product with direct marketing, promotion, public relations and personal sales such as social networking. “MIMIC as a major strategic concept is not much different from other marketing or management concepts, methodologies or strategies hat have arisen (e. . The marketing concept, the product lifestyle, brand equity, or total quality management)” (Kerr, peg. 1, 2011). Glamorous Designs method for measuring effectiveness are the five headings; profit, sales, persuasion, communication an attention. “One cost effective way of evaluating the effectiveness of the advertisement in terms of sales and movement towards purchasing is what Kettle and Armstrong call Integrated Direct Marketing. Direct Marketing has a response section that can lead to a more appropriate communication between the company and the prospect”.