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Monitoring Marketing strategies, tactics and activities of VB beer??
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The following paper includes the selection of the brand VB beer, and identification of its single marketing activity which includes the adjustment for the elements of the marking mix. The marketing activity which VB did in the current period includes the launch of the disposable ice box. Based on the analysis of this marketing activity the following questions have been addressed:
Answer1:
There are different types of objectives specific to each element or kind of the marketing mix. There are several over all objectives behind this marketing activity which includes the increase in the percentage of sales volume, value of sales, increase in the brand share, and creating repeat purchase of the product and so on (VB on ice 2011).
Product objectives: The main objectives related to this marketing strategy or the use of the new ice box is to maintain the quality of product, it has been used in order to provide customers as an essential type of beer drinking equipment so that the beverage can easily be imbibed outdoors in the long summers. The main aim is to provide and keep the beer cold. This is also done with the objective t increase the brand preference. This is related to improve the packaging and labelling of the brand and position it as the no one brand in the world.
Place objective: The main objective related to place for the innovation of the product is to increase the outlets and increase the types of outlets covered. This also includes covering the outlets which does not have proper cooling facility. The objective also includes changing the method of distribution and availability of the chilled and cold beer to the customers (VB’s Product Innovation Drives Brand Cool Differentiation 2011).
Price objective: The price objective associated with the marketing strategy is to increase the profit margin by increasing the volume of sales as compared to the competitors, and create a high value perception in the mind of the customers, and make a high positioning in the mind of the customers.
Promotion objectives: The launch of icebox as a marketing strategy is to have a great advertising like impact on the customers in order to keep the product in the customers mind so that they can easily recall the product. This is also done to increase the brand image and achieve the increased sales target, by the way of the current marketing strategy. This is also used to maintain public relationship and send a message to the customers that the company thinks in the favour of the customers and provide them the facility to keep the product available for use in chilled manner for longer period of time (Gates 1998).
Answer 2:
There are several manners in which the objectives decided for each marketing element can be measured in order to access the progress and success of the marketing activity this mainly includes the internal and external measures. The internal over all measures mainly includes the value and volume of sales, the distribution channel, the increase in the level of profitability and the changes in the cost and the level of margin. The external over all measures includes the changes in the value and volume of sales analyzed from the market research the increase in the market share of the brand and the repeat purchases from the customers, and also the buying weights (Sandhusen 2008).
The objectives can also be measured and monitored individually for each of the marketing mix element:
Product measures:
There are several measures which can be used in order to analyze the attainment of the objectives associated with the use of new marketing activity by VB. This measure mainly includes the increase in the consumer usage and attitude towards the brand. With the increase in the level of preference for the brand will let us know the attainment of the objective. The improvement in the brand image and positioning of the brand will also let us know the attainment of objectives or not (Shankar and Carpenter 2012).
Place Measures:
The measures that can used for analyzing the attainment of the place objective associated with the launch of the ice box as a new marketing strategy includes the analysis of the increase in the level of production, the increase in the depth of the distribution channels like the type of stores, the level of the increase in the stock pressures and so on. These are main factors by which the organization can analyze the attainment of the new marketing objectives (Sandhusen 2008).
Price measures:
This includes the changes in the perception of the customers about the price, and also the price triggering points. The competitive pricing and the comparative pricing will also let itr known about the attainment of the pricing objectives.
Promotion measures:
The promotion objectives can be measured by analyzing the level of recall or repurchases by the customers. This can also be known by analyzing the intention of purchase if this shows that the purchase is done for availing the benefit of the ice box then the objectives seem to be achieved. The impact of the marketing message can also the promotional image of the product can be analyzed in order to analyze the attainment of objectives (Shankar and Carpenter 2012).
Answer 3:
The progress of the marketing activity can be reported within the organization to which the brand belongs in several manner, this reporting mainly includes the factors like how often this needs to be done and who needs to know this and what actions needs to be taken in case of any deviation. This can be done by the establishment of the time line for the reporting of the progress of each activity and in each element of the marketing mix. Te reporting format needs to be developed like the performa for the level of increase in sales, durability of product, changes in the value of sales. This can also be reported in the way in which the market share of the company is recorded on regular basis and any increase or decrease will result into the evaluation of the progress of the marketing strategy. The reporting act will also include the circulation of the reports in different departments in order to analyze their part of actions and their success. The recording also includes determining the format of recording the progress of the marketing action (Sandhusen 2008).
The recording activity also includes the analysis of the progress of the organization in over all terms which include the analysis of sales volume, sales value, changes in distribution channel, increase in the level of demand and stock pressures on the production cycle, and the changes in the demand factors and reasons for the demand of product from the customers. All these factors can be recorded in periodic interval in order to judge the changes and proper actions can be taken for the purpose of successful attainment of the objectives. The recording can be done by proper formation of a format in which each activity name, its past level, present level and expected level will be recorded an d in this way the factors can be analyzed (Shankar and Carpenter 2012).
MB45
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