To create an effective media plan, you need to know who your customers are and what connects them to your organization or product. You bring this issue up at your marketer's networking meeting.
Select one of the following businesses types:
Review the marketing strategies of 2 different companies from the business type that you selected. Compare and contrast them by answering the following questions about each company:
Who is the businesses' target audience?
What are 3 elements that separate each business from its competitors? (Think about pricing, place or distribution method, and promotion.)
What integrated marketing communications techniques does each business use to attract and maintain clients?
Then, select one of the 2 companies.
Discuss what works effectively and what you would do differently.
Describe the techniques you would use to benchmark and monitor the media plan.
Search for business reports (e.g., news items in mass media publications) or university case studies that discuss the business's marketing initiatives for support or additional information about the business.
Use specific examples to support your analysis.
The selected business type is retail furniture and the companies that are going to be evaluated include IKEA and Ashley Furniture Home Store. IKEA aims to provide customers with a wide range of furnishing products that are well designed and functional at low prices so as to increase the number of people who can afford the furniture (IKEA, 2010). IKEA target audience is the global middle class. The target market is characterized by similar customer spending pattern and this combined with low prices are aimed at increasing sales.
Ashley Furniture targets the mass population since it provides a wide range of products to satisfy different customer requirements. The company's products are easily available making thus ensuring sustained sales levels.
An element that separates IKEA from its competitors is its low prices whereby the company uses a number of strategies to cut down on cost which is passed down to the customer. The company emphasizes on maintaining a good relationship with its suppliers thus the company is able to buy good quality material economically in bulk. It also flat packages it products thus reducing on assembly and transportation costs. IKEA products also differ on function since they are practical, attractive and easy to use.
IKEA promotes its products mainly through advertisements in the television and also through print media. IKEA (2010) provides that the company mainly focuses on printed media since this has provided the company with value and success over the years. The company also uses radio and the internet to carry out its advertisements. The main marketing tool used by IKEA is its catalogue whereby the company spends 70% of its marketing budget (IKEA, 2010).
The distribution channel used in IKEA comprises of regional distribution centers which link ...
Integrated marketing communications techniques are examined.