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Westfield is the UK largest shopping complex and it is operating in competitive environment. Currently, it is facing lots of problems in increasing revenue of its product. In this report, adverting and promotion techniques are discussed in detail. Along with this, integrated promotion strategy is also discussed. In order to prepare an effective integrated advertisement budget steps that can be follow in this regard are also explained in the report. Special stress is given on use of social media and mobile marketing in this report. Further, benefits that an organization can get by using these techniques is also discussed in detail. At the end of the report, techniques that can be used for measuring performance of advertising campaign are also presented and discussed in detail.
Following is the communication model which most of the organizations follow for marketing communication. Steps in this regard are given below...
In order to initiate communication, lot of information is collected either by advertisement agency or by the company. Advertisement is not merely an attempt to communicate about the product it is an attempt to create a demand for the product by addressing demand forces which acts as heart of customer final decision making company can trigger demand for its product. Hence, from various sources adverting agency or company collects information about consumer behavior of the people regarding product. Consumer behavior refers to the purchasing pattern of the people and factors which affects their buying decisions. Factors may be reference group and opinion leadership etc. After collecting relevant data and comprehending same advertisement message is draft by the company.
At this stage, advertising agency frame a message regarding advertisement. Ad agency experts will consider the data collected by research will draft an advertising message. This message will be addressed to the target audience in a specific way.
At this stage advertisement agency and client company will mutually decides the source from which product will be advertised. Channel of communication may be social media, T.V, radio or mobile etc. Advertisement agency by considering target audience and the channel of communication they often use will decide a channel through which it will communicate its advertised message .
Receiver refers to the person to whom message is addressed. In other words, it can be said that these are those people to whom an organization wants to approach by way of advertising its product. After communication of message this process comes to end.
Westfield is operating in competitive industry and its main focus is on preparing environment friendly atmosphere. On other hand, its product sales is going down due to non advertisement of the product and entire focus is on creating environment friendly image of an organization. Due to this reason, its sales are continuously declining. On other hand, its operations are very complex and its advertising process is also very complex. Hence, Westfield is required to simplify its advertising procedure. Moreover, it also needs to focus on advertising its product at place of doing institutional advertising on theme of environment protection. By company doing so it can elevate its sales. In order to create this environment protectionist image company is spending huge amount of money in developing its technology that leads to less waste and saves energy. On one hand Westfield sales is declining and on the other hand it is making heavy expenditures on up-gradation of existing technology base. As a result, it has less cash to run its operations in smooth and effective manner. Moreover, complexity of its operations also creates a lot of problems for the company. Hence, as an advertising promotion manager it is highly recommended that a company must advertise its product and must spend less on green technology.
In order to regulate promotions in UK there are several rules and regulation. In current time, most of the advertisements are bad in taste and present many unacceptable things in their advertisement which is socially unacceptable by the people. In order to prevent companies from committing these mistakes there are some rules and regulation which they requires to follow while preparing advertisement for their product. These regulations compel advertising companies to make their advertisement which are acceptable by the audience. These regulations also made it mandatory that truth information must be provided in the advertisement. There is a CAP non-broadcast code which regulates marketing of product through print, online, sales promotion and e-mail marketing. There is another code which is known as CAP broadcast code which encompass all issues related to taste, product and decency. This code state that an advertisement must be decent and must be prepared in a simple manner. An advertisement must be according to children. In other words, advertisement must not be prepared in such a manner that puts negative impact on small age children. All these rules are implemented by ASA which is also known as adverting standard authority. This is a governing body that makes sure that companies and adverting agencies are following all rules and regulations regarding making of advertisement for their product. In case of violation of law strict action can be taken against advertisement agency and company whose product has been advertised.
Currently, advertisement is done through T.V, social media and e-mails etc. It has been seen that modern methods of advertisement are replacing traditional sources. The main reason behind this is that most of the people spent their leisure time on mobiles and social media. As a result, most of the companies are using social media and e-mail marketing to reach their target consumers. However, this does not undermine importance of television. But now a day’s proportion of social media or internet is increasing in companies adverting budget relative to television. By using social media companies are able to provide customer relationship management services (CRM) to their product users. By using these, companies remain in touch with their customers and provide services as soon as possible if their product is not working properly. In this way firm is able to retain its existing customer base. This is not possible by using traditional channel of communication. ICT means information and communication technology and it covers all sort of channel of communications like radio, T.V, phones and mobile etc. As mentioned above companies are widely using social media, websites and T.V for advertising their product. Westfield is largest shopping center in UK and it can use both social media and T.V for advertising its products. In T.V, their advertisement reflects its core competencies and plus points. In this way it will be able to enhance its customer base and which will lead to increase in customer traffic. On other hand, it can also use social media to communicate its offers and lucrative factor that compels people to visit its shopping center for purchasing products. In this way, it will be able to elevate its profitability level.
Advertising agency plays a prominent role in formation of integrated promotion strategy of an organization. For a company it is always very difficult to identify best channel of communication. Even they identify it it is tedious task for the Westfield management to allocate entire budget among several channel of communication. Advertisement of product through channel is not sufficient, message delivered through these channels decides the success of entire marketing efforts that are made through these sources of communication. Advertising agency will help Westfield in crafting its advertising message that are directly addressed to the target customers. In preparing adverting message advertising agency will give consultation service to the Westfield regarding understanding consumer behavior of the people. On the basis of deep comprehension of consumer behavior advertising appeal statement will be prepared that will help in creating needs among customers. This will attract footfall of the customers towards Westfield shopping center. After preparation of message advertising agency will help Westfield in selecting an appropriate channel of communication. In respect to this, series of meetings will be conducted in which detail discussion will be done between management of Westfield and advertising agency.
On the basis of meeting, finally an appropriate channels of communication will be selected for the Westfield. After this advertising agency will suggest the services that Westfield can take in order to do marketing of its product in better way by using social media. Through social media recent change in consumer behavior of the people can be identified. With change in consumer behavior of the people company also requires to change its advertising message and appeal. On the basis of discussion, Westfield will choose social media services that it wants to take. Accordingly, advertising agency will communicate the amount that Westfield requires to incur for consuming services that it intends to take. In this way advertising agency will help Westfield in making adjustments in its advertising budget and utilizing channel of communication for advertising a product.
Branding is a process of popularizing a name of the product among the customers. This is also used to create a special image of the product in the eyes of the customers. In order words it can be said that branding of a product refers to the positioning of product. Branding of the product can be done by using competencies or USP of the product. Every product has some strong plus points and by using these points special image of the product can be created among the customers. Westfield is the shopping center of the UK and it can use its core competencies in order to do branding if itself. Its unique selling proposition may be availability of all sort of products at its shopping center. Availability of the products at affordable price may be another factor that can be used for branding of Westfield. In this way, company will be able to rech erach and every customer and it can give reason to the people due to which they must make a purchase from its shopping center. In this way, company will be able to increase footfall of the customers at its shopping center. Along with this, branding will also help company in elevating its revenue on year on year basis.
There are many peer companies of Westfield and it is not necessary that target customers or audience gives due attention to the message advertised by the company. Hence, Westfield requires to make its advertisement creative in order to attract attention of each and every target customer. Company is operating a shopping center in UK and due to this reason it requires to make its advertisement creative in such a way that also reflects its USP and plus points of purchasing product from its shopping center. In order to make its message attractive a company requires to make a smart adverting message. This message will attract people attention and company will be able to communicate its message effectively to the target audience. In this regard some special tag line can also be used that is heart touching in nature. Westfield will not advertise its product through single channel of communication it will use T.V and social media for advertising its product. By doing this its presence over geographical areas will get increased and it will be able to communicate to those also that spent their leisure time mostly on social media. In this case it requires to change its message to some extent every week so that people fins something new every time when they visit FB page of Westfield. Advertisement must be prepared in such a manner that it gets viral online. If same happen then large number of people will make visit to the company FB page and company will be able to communicate its message to mass audience in short time period. In this way, company will get popularity fortnightly.
There are many ways of working with advertising agency and some of these ways are as follows...
For advertising a product some of the information are required by the advertiser. Advertising agency does not know business of its client and due to this reason client requires to provide lots of information about its business and product to the advertisement agency. On the basis of product information and past experience and some knowledge about the people that are consuming specific product, advertisement agency will form an advertising message for the company product. Hence, cooperation form both sides is required to frame and present advertisement in efficient and effective manner.
Sharing of an information is a primary step in advertisement formation. But in order to frame proper advertisement cooperation form both sides is required. In respect to this, series of meetings is organized between advertising agency and its clients. On meeting discussion is carried out on lots of factors like customer preferences and their buying behavior etc. On the basis of these factors finally advertisement of the product is formed and presented through specific channels of communication.
In order to prepare an advertisement on time client requires to assure that advertising agency is working actively on a project. Thus, client requires to remain up to date with progress that is made in formation of advertisement. Hence, liaison relationship between advertisement agency and client is foremost requirement.
Target audience of Westfield are youngsters and people that are in age of 30-50. These are target audience because youngsters always likes to make purchase and they also give guidance to their family members regarding purchase of the product. People between 30-50 age group are taken because they are operating their families and play a key role in family purchasing decisions. Hence, both sort of people are taken as target audience of Westfield. These people never purchase products from same shopping center and due to this reason it is very difficult to build loyal customer base. On basis of review of target audience objectives of Westfield are as follows...
Currently, consumer behavior of the people is changing at a rapid pace. As a result. They are not sticking to specific brand product or specific shopping center. Higher unemployment rate also attract customers towards discount stores. Hence, it become very difficult to build loyal customers in the UK. Above the line techniques
This is traditional and widely used source of communication. Westfield can use this channel of communication for approaching its target audience in mass geographic area.
Social media and e-mail marketing both comers in this category and these are also most popular sources of advertisement. By using analytic techniques lots of information can be gathered about target audience. Hence, Westfield must use this technique in its integrated promotion strategy.
In integrated promotion strategy Westfield will use social media, T.V and above mentioned below the line strategy. On the basis of effectiveness of these techniques and company aggregate budget techniques of advertisement will be selected for the Westfield. After this, allocation of budget will be done among all above and below the line promotional techniques in agreed ratio. In this way entire integrated promotion strategy will be formulated and implemented by an organization.
Objectives determined by the firm must be specific in terms of numbers. In objectives mentioned above target is to increase sales by 5%.
Objective must be measurable and 5% growth rate in sales is measurable in nature.
Whatever, objective determined by the management must be achievable and 5% growth rate in sales is achievable in nature.
Objective determined by the firm must be realistic. If Westfield decides to increase sales by 50%, then it can be said that objective is unrealistic. But elevation of 5% in sales is realistic objective.
Company must decide a time with in which objective must be achievable. This indicate the firm that it is making proper efforts to achieve target or not. Westfield wants to achieve this objective in a year and it is time specific. Hence, Westfield fulfill all criteria s of SMART objectives.
Following is the process of preparing a budget...
In this step overall budget is prepared by considering firm profitability past data and Westfield future plans.
In second step, sources of advertisements are determined and priority ranking is given to the all channel of communication on the basis of their effectiveness.
In this step previous year data is analyzed and company identified return profile of earlier used channels of communication.
In this step budget is assigned to each and every channel of communication based on return profile and priority rank.
Following are techniques to measure effectiveness of an advertisement campaign.
After end of the campaign survey is conducted and in this an attempt is made in order to identify that people are consuming or preferring a product or not. In respect to this, first of all survey is done before campaign and its results are compared with results of the survey that are conducted after end of campaign . Difference between both reflects success or failure of marketing campaign.
If sale of the product increases after marketing campaign ended then this reflects that marketing campaign was successful.
If more and more coupons and vouchers redeemed then it reflects that sale of the company product is increasing.
On the basis of above discussion it is concluded that firms must use social media in promoting their product through integrated promotion strategy. Consumer behavior of the people is changing and this factor must be considered while preparing an advertisement message.= Companies must use both above and below the line promotion strategy in order to form effective integrated promotion strategy. Mobile marketing will get huge popularity in upcoming years and companies must start using this channel of communication for selling their products.
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