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Advertising Critique MM 575: Advertising Management Summer 1 2012: Monday Diver University, Keller Graduate School of Management l. Introduction: Welcome as a customer of The Keller Advertising Agency! We are very great full and we feel very honored that you have chosen our agency. As Vice President, we want to thank you for choosing our agency to help you introduce your new reader into the marketplace. Our agency is pleased to help you create a market that will welcome your new product with open arms and know that your targeted audience is receiving an reader that is different from others in the market right now.
The Keller Advertising Agency is an award winning agency who will be sure to put your needs first so we can capture a spot in the marketplace for your new reader. We will accomplish this by ensuring that we have a clear vision of your mission, message, values, to exhibit creativity of your product and to help the consumer to be able to identity Liberator’s reader from other readers in the market. The Keller Advertising Agency will create an integrated marketing com animation strategy that will speak consistently with one voice, one message and to let Liberator’s reader compete in the market place tit other readers.
We must segment your market and attract the right audience who is looking for a different reader than what is in the current market place now. With the rising cost of text books and rental costs for text books dropping; we simply want to help you give your readers a chance to make a choice of reading products that fit their lifestyle. We will accomplish this goal by first, helping you with your naming strategy, help you analyze the marketplace to determine the perfect ad campaign, establish your target market, then we will introduce to Liberated to an advertising strategy that is second to none.
II. Product Naming Strategy Liberated will become number one in electronic text books industry because just imagine being one of the top reader providers in the market place. We will accomplish this by ensuring that it is a name that sounds good, it is benefit-oriented that will make the consumers think about really wanting to do it, make sure it is web 2. 0 friendly, we will not use a name that is to generic, by making sure it IS simple, your name will be specific in meaning, it will define who your product want to attract and it will be trademarked to elf build your brand.
This strategy is effective when you are releasing your product in the electronic technology category. There are over 10 other brands your reader is competing with so it is important to make it easy for your targeted audience to know what they are getting. The next goal would be to create your niche that will remind your target market who Liberated is. This will have them thinking about your product above the competition because it will give them more to think about. During this process we want to start building brand awareness for Liberated.
We want to hook the nonuser with a name that will help them think of what they want in an reader. Here are some recommended examples of how to accomplish this. Some same names would be Easy Reader, this is an simple name to remember and consumer want an electronic device that is easy to use. Crusader, Icy means cyber, so this will remind the consumer that they will be able to use the internet while reading their eBook but they will also be able to download their eBook right now. Another recommended name would be Link reader, this reminds the consumer that they are a link away from the book or magazine they want to read at this moment.
The task is to keep it easy and simple for your target audience to remember who you are and why you are here. Ill. Research The following research analysis captures information from various data sources such as: online databases, journals, Government Agencies, magazines, news paper articles and Trade Associations. It explains the online presence, comparison, niche, and difference within the different readers, and describes the opportunities for Liberated to gain their presence. All research today is conducted through online reviews and comparisons when consumers are determining what they want to purchase.
Since readers are the latest reading electronic technology, consumers want to have good choices, prices and specs to review. This research can be used to find your own niche in the market place. Sales of the reader is expected to growth to 50 million units by the end of 2014, the industry itself is expected to be over $6 Billion by the end of 2014, competition of the reader is not only in the United States but your reader will compete globally with China, Japan, Europe, MEN etc.
One drawback is the Apple Tablet PC which brings fierce competition but it won’t stop Liberator’s reader from capturing one percent f the market. To continue with background information regarding the competition, Amazon is the leading seller in readers and is back by a large library of electronic content. Other competition has hit the marketplace such as: Amazon. Com Inc. , Sony Corporation, Barnes and Noble Inc. , Booked, Kobo, News Corporation, Plastic Logic Limited and others. This is a positive outlook because it allows Liberated to come into the marketplace where pricing the unit will be crucial.
Pricing the unit will make Libra Tech’s reader more competitive against the competition and be able to compete against the top leers of well known brands. Liberator’s online as well as store front presence will attract the right targeted audience who want a different reader at the right price. Research was also performed by using various keywords to help leverage all of the competition for comparison purposes. Below is a review of three of the current competitors in the market: Cookbook Odyssey ; It is a basic brand by a company name Booked ; Prices at $129. 6; current advertising strategy is social media networking and their websites. ; Touch screen controls ; 800 Much Cortex AH Texas Instruments OMAR Has black casings that is made from both plastics and aluminum metal plate ; A little heavier than it’s competitor however, it’s curved edges makes it easier to handle ; Black and white page views ; Pages flip easily with a stroke of your finger ; Easily converts to an MPH for easy listening ; Contains 2 Gig of storage ; It has a 3. Mm headphone jack ; Easy to order online at their website Nook ; Barnes and Noble is the brand ; Prices at $99 black and white; $169 for color ; It competes with the Kindle Fire ; The Nook is the first item on their website by using an image advertising tragedy ; WI Fl ; Can view comics, movies and TV shows from Nettling games, email and web w/video ; Expandable memory up to 32 KGB ; Comes in a tablet ; Comes in touch screen ; Borrow books from your local library Kobo ; Kobo is the brand ; Can play ; Their advertising strategy is lowest price advertising strategy from $69 to $1 79 ; Has a simple design ; Supports PEPCO books ; Takes APS for the Phone and Pad ; No MPH or Image support ; Has touch capabilities ; Prices ; Allows cross device download with a KOBO FREE app for androids, Mac and PC’s, blackberry, tablets and smartness It’s available in English, French, German, Spanish, Italian and Dutch languages IV. Advertising Strategy To introduce Liberator’s reader to the marketplace the context and environment in this strategy is crucial. This will get potential target audiences interested in Liberator’s reader and will position your brand among the competitors. The most effective advertising strategy is focusing on your target audience; product concept; communications media; and advertising message. Choosing your target audience will make a difference in how Liberator’s reader is positioned in the marketplace. It’s crucial because understanding your intended targeted audience will be in mediums that targets urban lifestyle living audiences. Readers attract different types of audiences from casual readers, professionals, students who are looking for easy access to their books. Another group to target will be technical savvy consumers. The focus TA regret audience will be students and technical saw consumers because of the flip-page technology and fabulous full color that allows those readers to read any type of book . This will allow Liberated to create a market segment that is looking for the latest graphics capability and technology features. Students can be a wide rage group because colleges are steering books to readers on desktop computers, laptop and hand held readers alike.
High schools are bringing the latest technology into the classroom to expand the way children are learning. Next Liberator’s product concept tells the features of the reader as stated above, the pricing strategy will come between the three featured competitors reader ranging from $59 to $99 for the targeted audience so more students can afford the product. Also, technical savvy consumers will be able to afford this product for their children without breaking the budget. The competitors’ brands are more expensive and limits most students and technical savvy audiences to be able to participate in the reader market without having to purchase refurbished readers from Amazon, half. Mom, eBay and other online retail websites. To leverage on consumer behavior issues, Liberated will address the needs and wants of the targeted audience by utilizing focus groups to evaluate their decision-making and relevant internal psychological processes. The small targeted audience will participate in studies by marketing the product on campuses across schools in the United States and Globally. The communications media that will be used are press releases, social media networking via blobs, backbone and twitter, group forums and videos. The advertising message will be a consistent message to the targeted audience through the copy, symbols and/or pictures.
The advertising message that the targeted audience will know is “It’s Easy and Every”here You Want to Be” ; Liberated The advertising strategy that has worked very well is the social media networking advertising strategy because it allows for cost control. Image and website advertising has not worked very ell because it limits a products exposure and allows room for higher advertising costs. The social media networking advertising strategy method is less costly and it appears to work very well for the competitor Booked the maker of Cookbook Odyssey. The press release will be the first method used to get the word out that Liberated has arrived on the market.
The next step will be to create a blob with Search Engine Optimization (SEE) to help leverage Liberator’s strategic positioning on the internet. This will allow the presence on the web to climb to the top on Yahoo, Google, Binging and Liberator’s own website. This type of media has played a major role in the world of readers for Apple, Amazon, Barnes and Noble to name a few because it has allowed the competition to be ranked among each other. Advertising Cam paging The campaign goal will be to reach the targeted audience through a number of marketing avenues. This will be tracked by managing an excel sheet that lists all media campaign run dates.
I Media Channel Allocation I Description Rationale I CPM Bios Target I I Backbone I Direct Marketing I Twitter I Press Releases SEE Click Ads The target audience age 1 1 to 34 I Pay Per The gender is 75% female and 25% male Location is within a 75-mile radius Of any town metropolitan area Income range for targeted audience adults is $18,000 to $1 00,000 The education level high school diploma to post graduate school Campaign Budget This chart will allow Libra Tech to keep track of their campaigning budget and how to allocate costs per targeted CPM. Each media type plays a role in maximizing the reach for the targeted audience and help to cut down on costs.
By using press releases the cost would be up to $350 providing which outlet is used since there are over 140 ere press release sites that is available. Twitter and Backbone has over 600 to 800 million users around the world and by using pay-per-click ads will give a broader audience vs. running ads in the newspapers. PC’s can be drilled down to the targeted audience by age, demographics or income range. Blobs are a sure way to find the targeted audience because forums can be used to allow followers to post comments. Also, links can be posted on other related blob sites to give their users a chance to learn about Liberator’s reader. The targeted audience will be define by asking a number of questions that ill allow Liberated to reach it’s intended audience.
Direct marketing plays apart because it’s cost effective and can be targeted audience by an email list or opt-in interest. SEE can use ad words to help push websites, backbone and ads to the top of the list on all search engines. This will help leverage Liberated among it’s competitors. The pros and cons are a good measurement strategy that helps the Keller Advertising Agency to learn what is working and what is not working in the advertising campaign. The main cost of social media and SEE marketing is that it’s cost effective as far as rice. This makes the return on investment huge in terms of how much money Liberated will save to reinvest into it’s product.
The next pro about this, Liberated will be able to add other conventional advertising methods later once the reader is known among the consumer market place. Finally, this strategy will continue to grow over time and will allow for a broader audience to be reached and touched. Liberated will become the authority among generation X and Year’s as the reader is improved over time. Cons of this campaign relies on anticipated user interaction to help stimulate Roth and brand recognition. The risk that comes with this type of ad campaign is based on a small amount of data; since this type of advertising is only used by a small scale Of companies.
The risk is high due to a small populated data source in the reader market The largest advantage is low cost and high return on Liberator’s investment for future advertisement. In conclusion, the overall market is based on trends and market niches. The Keller Advertising Agency has created a clear vision of your mission, message, values, exhibit creativity of your new product and introduce Liberator’s Reader into the market place as a new product that will scare the competition. This will help the consumer to be able to identity Liberator’s reader in the market place by creating an integrated marketing communication message that will speak consistently with one voice, one message and to let Liberator’s reader’s know “It’s Easy and Everywhere You Want to Be”.