Below is a list of the topics/slides your PowerPoint
should address:
Start the PowerPoint presentation with a title page.
Need at least one slide describing your promotion, which IMC Mix component you have
decided to use. In the next module, you can use the text portion for a more detailed
explanation.
Need a few slides highlighting factors from past assignments that are the rationale for
your new promotion.
Where on the execution spectrum is your ad/promotion? (see Professor’s Notes in the
Learn section). Make this at least one slide and you must explicate your rationale either
on the slide or in the text portion (due in the next module).
Present your Big Idea for your new promotion.
In the remaining slides present your advertisement/promotion as outlined in the
Promotions Project: Creative Development Questionnaire Assignment.
BUSI 612
Promotions Project: Big Idea and Media PowerPoint Assignment Instructions
Overview
The past five module’s assignments have systematically gone through the steps/processes for developing a new promotion. This Promotions Project: Big Idea and Media PowerPoint Assignment is about creating the new promotion using PowerPoint Presentation. While you don’t all have a creative team at your disposal, Promotions Project: Big Idea and Media PowerPoint Assignment is all about putting the last few modules’ assignments together creatively into one coherent new promotion. The new promotion should visually reflect your big idea and an advertisement/promotion you designed from last module’s Promotions Project: Creative Development Questionnaire Assignment. Envision this Promotions Project: Big Idea and Media PowerPoint Assignment as the medium you would use to “pitch” your ad/promotion to the marketing executives of the firm that makes your product. NOTE: Don’t worry about the script you will use when presenting this slide show; that is the next module’s assignment.
Instructions
Below is a list of the topics/slides your Promotions Project: Big Idea and Media PowerPoint Assignment should address:
· Start the PowerPoint presentation with a title page.
· Need at least one slide describing your promotion, which IMC Mix component you have decided to use. In the next module, you can use the text portion for a more detailed explanation.
· Need a few slides highlighting factors from past assignments that are the rationale for your new promotion.
· Where on the execution spectrum is your ad/promotion? (see Professor’s Notes in the Learn section). Make this at least one slide and you must explicate your rationale either on the slide or in the text portion (due in the next module).
· Present your Big Idea for your new promotion.
· In the remaining slides present your advertisement/promotion as outlined in the Promotions Project: Creative Development Questionnaire Assignment.
NOTE: The artifacts (your photos, artwork, words etc.) that you put into your Power Points must be directly related to the past Promotions Project: Creative Development Questionnaire Assignment. This technique will further ensure your efforts are successful. If your promotion is a 30/60 second commercial, use each slide as a scene in your advertisement. If you are perplexed on developing a new promotion, a 30/60 second commercial is an excellent way to get started and complete a successful promotion for your product/service.
· There is no minimum number of slides; this is another creative assignment in the graduate level Promotions course
· No need to provide citations or references while completing this Promotions Project: Big Idea and Media PowerPoint Assignment.
Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.
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BUSI 612
Lecture Notes: Advertising Formats
developed by Hank Seiden
Execution Spectrum
image1.jpeg
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Running head: IMC Mix 1
IMC Mix 2
IMC Mix Essay Assignment
Modesto Rodriguez
Liberty University
Introduction:
Integrated marketing communications help ensure the development of business through the formulation of communication strategies designed to help in the promotion of the business's products and also to help create reputation and loyalty to the brand among the consumers (Muhammedrisaevna et al., 2020). Moreover, marketing strategies are company-specific and use current macroeconomic data, market trends, and the particular product category or niche targeted by a business organization (Percy, 2023). Increasing sales of a company's products or services is at the core of marketing principles. Hence, formulating a market-inclusive and effective promotional mix is quintessential to the company's top-line growth, i.e., efficient and smooth running of core business functions, allowing the increase in revenue (Muhammedrisaevna et al., 2020).
Meta Quest VR2 Headset is a virtual reality device and an appropriate promotional mix for the product will consist of online and social media advertising; establishing of public relations through experiential marketing; content and informational marketing through blogs and web articles. Sales promotion strategy includes discounts and special incentives for potential customers.
Theory
Integrated marketing communication strategies draw heavily from the concepts of marketing relationship theory, which specifically emphasizes the importance of effective communication in the marketing process (Percy, 2023). For instance, AIDA is a classical promotional model that advocates various stages a consumer goes through before deciding to acquire a particular product, including Attention, Interest, Desire, and Action. Lee and Hoffman (2015) highlighted that infomercials' usage contributed positively towards forming bonds between peers, enhanced participation, and overall enthusiasm of individuals to engage in prescribed activities. Furthermore, advertisements help raise awareness and generate interest through the communication of the relevant benefits of the product to the targeted consumer base (Laurie & Mortimer, 2019). The stimulus-response theory explains sales promotion strategies as a stimulus and a trigger for potential customers to buy a company’s products. For instance, a customer may respond positively toward promotional offers such as discounts, bonuses, and unique benefits such as exclusive memberships (Darsono & Susana, 2014)
Research
Realization of the influence of social media influencers on their audiences and their ability to reach diverse audiences across multiple countries and regions is a crucial advantage of adopting social media marketing strategies (Appel et al., 2020). The commercial value of social media influencers is utilized through sponsored messaging and content deals to reach the target audience of a particular product or a service (Hudder et al., 2021). Developing a favorable perception of products or services through advertisement requires the use of rhetoric and strategic messaging, highlighting the value for money a consumer receives while purchasing the company's products or services. Employing personification in advertising through the usage of rhetorical tools ensures the development of emotional connection and relatability of consumers with the company's products and services (Kpedor, 2021). Sales promotion strategies involving temporary price cuts and incentivizing of product sales with added benefits such as discounts on accessories or unique gifts such as free subscriptions to exclusive services contribute positively towards increasing sales for a company (Gedenk, 2010)
Increased access to the internet and networking devices has made it possible for people to engage and consume information from multiple media platforms, and adherence to media neutrality policies across the rapidly evolving paid and unpaid media platforms poses a severe challenge in the implementation of integrated marketing communication strategies (Kliatchko & Shulz, 2015). Business organizations must focus on developing effective and coherent strategic messaging that is communicated uniformly across all available media platforms (Robinson, 2017). Enhanced collaboration and cooperation between different marketing sections dealing with social media, personal marketing, and public relations section is required to achieve uniformity of strategic messaging of the product (Laurie & Mortimer, 2019)
Discussion/Analysis
Social Media:
Firstly, digital and social media marketing strategy will focus on targeting potential consumer sections that are actively searching for Meta Quest VR2 Headsets and related technologies through the internet. Creating targeted online ad banners, and video campaigns, and taking advantage of optimized search engine advertising will be done to promote our product. Secondly, social media platforms such as Facebook, Twitter, Instagram, and YouTube will be used for company-sponsored content such as product demo videos, customer testimonials, and interactive sessions; online contests and giveaways will be organized to promote Meta Quest VR2 Headsets will be organized (Li, 2021). Lastly, social media influencers especially leading gaming and technology-oriented influencers, will be selected for sponsorships and communication of company-sponsored messaging for the Meta Quest VR2 Headsets.
Public Relations:
Experiential marketing allows consumers to connect with the company brand by experiencing its products (Rather, 2021). This strategy will focus on three areas, i.e., organizing popup events and physical demonstrations of the products, partnership with VR content developers, and employing gamification aspects of marketing to gain publicity for the company and the product. Firstly, high-traffic areas such as shopping malls, technology conventions, and gaming expos will be shortlisted for setting up temporary VR booths providing consumers experience of virtual reality through the company's VR headset. Secondly, partnerships with influencers in VR and gaming industries, allowing them usage of Meta Quest VR2 Headsets, will provide consumers to experience the demonstration of the product's performance in professional and advanced settings. Lastly, the gamification strategy, which includes the development of VR experiences and games that are made accessible through a mobile application or website, can contribute positively towards the creation of demand for the Meta Quest VR2 Headsets through alteration of consumer behaviors in favor of purchasing the product (Singh et al., 2021).
Sales Promotion Strategy:
This strategy focuses on increasing product sales, nurturing customer loyalty, and raising awareness for the company brand among people. Generally, sales promotion strategies incorporate discounts and various incentives to encourage customers to buy company products. In the context of Meta Quest VR2 Headsets, the sales promotion strategy will include seasonal discounts and incentives such as free trial subscriptions to games utilizing virtual reality technologies. Another critical aspect of the sales promotion strategy will be discounts on accessories such as VR covers, VR body trackers, etc., on purchasing a Meta Quest VR2 Headsets. Upon purchasing Meta Quest VR2 Headsets, customers will be provided with a 30 days free subscription of popular virtual reality games and entertainment platforms to encourage them to buy the product. Occasional temporary price discounts and incentivizing customers to purchase the company’s products positively contribute to increasing the sales volume for the company (Gedenk, 2010).
Personal Selling:
By providing informative and educational content highlighting the favorable aspects of the Meta Quest VR2 Headsets, the product's target audience can be made aware of the possible benefits of acquiring the Meta Quest VR2 Headsets. Firstly, setting up a product-specific blog site and publishing articles related to the current developments in VR technology and practical usage of Meta Quest VR2 Headsets will ensure raising awareness among potential consumers. Secondly, publishing video tutorials and user guidelines can help consumers understand the usability and performance of Meta Quest VR2 Headsets in gaming and scenario-based virtual reality experiences. Personalized content and persuasive rhetoric in both written and visual content contribute positively to creating an emotional connection between consumers and the company's products (Kpedor, 2021). Lastly, by publishing recent research studies and information regarding the latest technological developments in virtual reality technologies, the company can position itself as a leader and pioneer in the market of VR products hence creating brand value for its products (Moorman et al., 2019).
Implementing integrated marketing communication strategies requires collaboration and cooperation among all marketing teams or firms working in a company. It involves assessing and identifying the best possible marketing technologies and systems for promoting a business product (Percy, 2023). Formation of positive perception for the company's products and establishment of a positive brand image depends on the company's ability to understand consumer preferences and tailoring company-sponsored content to persuade consumers to buy company products (Moorman et al., 2019).
Appel, G., Grewal, L., Hadi, R., & Stephen, A. T. (2020). The future of social media in marketing. Journal of the Academy of Marketing Science, 48(1), 79-95.
Darsono, J. T., & Susana, E. (2014). Structural Model of Intention to Buy on Purchase Decision Saloon Car In Surabaya: Theory of Planned Behavior Approach and Stimulus Response Theory. Journal of Business and Management, 16(10), 09-12.
Gedenk, K., Neslin, S. A., & Ailawadi, K. L. (2010). Sales promotion. Retailing in the 21st century: Current and future trends, 393-407.
Hudders, L., De Jans, S., & De Veirman, M. (2021). The commercialization of social media stars: a literature review and conceptual framework on the strategic use of social media influencers. Social Media Influencers in Strategic Communication, 24-67.
Kliatchko, J. G., & Schultz, D. E. (2014). Twenty years of IMC: A study of CEO and CMO perspectives in the Asia-Pacific region. International Journal of Advertising, 33(2), 373-390.
Kpedor, D. E. (2021). Personification in Advertising: A Rhetorical Analysis of Digital Video Ads in the Insurance Industry (Doctoral dissertation, East Tennessee State University).
Laurie, S., & Mortimer, K. (2019). How to achieve true integration: the impact of integrated marketing communication on the client/agency relationship. Journal of Marketing Management, 35(3-4), 231-252.
Lee, S. H., & Hoffman, K. D. (2015). Learning the ShamWow: Creating infomercials to teach the AIDA model. Marketing Education Review, 25(1), 9-14.
Li, F., Larimo, J., & Leonidou, L. C. (2021). Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda. Journal of the Academy of Marketing Science, 49, 51-70.
Moorman, C., van Heerde, H. J., Moreau, C. P., & Palmatier, R. W. (2019). Challenging the boundaries of marketing. Journal of Marketing, 83(5), 1-4.
Muhammedrisaevna, T. M. S., Bayazovna, G. N., & Kakhramonovna, D. A. (2020). Goal and objectives of integrated marketing communications. Economics, (2 (45)), 5-7.
Percy, L. (2023). Strategic integrated marketing communications. Taylor & Francis.
Rather, R. A. (2020). Customer experience and engagement in tourism destinations: The experiential marketing perspective. Journal of Travel & Tourism Marketing, 37(1), 15-32.
Robinson, H. R. (2017). Towards an enhanced understanding of the behavioral phenomenon of multiple media use. Journal of Marketing Management, 33(9-10), 699-718.
Singh, G., Kumar, B., & Jain, K. (2021). Gamification in marketing.
Vogler, D., & Eisenegger, M. (2021). CSR communication, corporate reputation, and the role of the news media as an agenda-setter in the digital age. Business & Society, 60(8), 1957-1986.
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Running head: Situational Analysis Assignment 1
Situational Analysis Assignment 3
Situational Analysis Assignment
Modesto Rodriguez
Liberty University
Introduction:
This situation analysis thoroughly summarises the firm behind Meta Quest VR 2, a virtual reality product. It examines the idea of the Product Life Cycle (PLC) and identifies the Meta Quest VR 2's present growth stage. It also looks at several outside demand elements that may affect the outcome of new product promotion.
An immersive and engaging experience is provided to users of the Meta Quest VR 2 virtual reality (VR) headset. It is intended to deliver a top-notch, untethered VR experience without requiring an additional computer or other sensors. Meta Quest VR 2 users may explore simulations, play games, enter virtual worlds, and participate in various VR activities (Hollensen et al., 2022). Users may interact with the virtual world and operate things with realistic hand motions thanks to the headset's high-resolution screens, sophisticated tracking technology, built-in speakers, and touch controllers. The Meta Quest VR 2 has a powerful CPU and plenty of storage space, allowing for slick performance and the ability to download and use a variety of VR experiences and applications.
Company Description:
The revolutionary virtual reality (VR) headgear, the Meta Quest VR 2, was created by Meta, formerly Facebook Reality Labs (Alpala et al., 2022). The renowned technological firm Meta is currently on a quest to revolutionize how individuals connect, share information, and engage with the online world. The corporation Meta, which invented the Meta Quest VR 2, has invested enormous cash in development and research to produce an innovative VR device with unparalleled realism and interaction. With its smooth and comfortable layout, the Meta Quest VR 2 provides a portable, comprehensive virtual reality (VR) experience eliminating the need for a PC or other gadgets. Impressive features of the Meta Quest VR 2 include superior tracking technology, high-resolution screens, and simple touch controls. Beyond its hardware, Meta is devoted to the user experience. They have established an extensive network of designers, content producers, and groups to deliver various VR experiences and uses.
Product Life Cycle:
The stages a product goes through, from its launch to its final decline in the market, are described by the Product Life Cycle (PLC), a key idea in marketing.
The Meta Quest VR 2 debuts in the introduction phase of the market. Sales are initially slow during this stage since consumers are unfamiliar with the product. Meta makes significant research and development investments to ensure a top-notch VR experience and foster interest in the product. Marketing activities aim to raise awareness, highlight the distinctive qualities of the product, and develop a clientele (Wagner, 2021).
The Meta Quest VR 2 enters the growth stage as it becomes more well-known and accepted. As more users accept the product, sales rise quickly. Meta increases its distribution options and tries to increase its market share. Meta keeps improving the product's features, functionality, and content collection to maintain a competitive edge in the face of growing competition (Baloch & Rashid, 2022).
The Meta Quest VR 2 enters the mature stage with solid sales and a saturated market. As the market acceptability of the product hits its pinnacle, the competition heats (Nichols, 2021). Meta uses price techniques, advertising campaigns, and product differentiation to maintain market share. They could launch additional variations or packages to appeal to various client categories.
The Meta Quest VR 2 eventually reaches the decline stage. Sales begin to fall due to several circumstances, including technical development, shifting consumer tastes, or the introduction newer VR goods (Sibghatullah, Shamshir, & Siddiqui, 2019). Meta must thoroughly evaluate the state of the market and choose the best course of action.
The Meta Quest VR 2 is presently in the Product Life Cycle (PLC) stage of development. Rapid sales growth and market acceptability define this period (Struckell et al., 2021). Several tactics should be used in this phase to direct a new promotion for the Meta Quest VR 2. First and foremost, it is crucial to capitalize on the product's rising popularity. Customer endorsements, evaluations, and case studies that demonstrate the superb virtual reality experiences offered by the Meta Quest VR 2 should be highlighted by Meta. By highlighting favorable reviews from pleased consumers, Meta can improve brand trust and reputation, increasing sales even more. During the expansion phase, expanding distribution channels is vital.
To maintain the product cutting-edge and consumer-friendly, Meta should give top priority to firmware updates, software upgrades, and regular content releases. Promotions should emphasize these improvements to generate interest and reaffirm the Meta Quest VR 2's status as a cutting-edge virtual reality gadget (Venugopal et al., 2023). The growth stage is crucial for targeted marketing initiatives. The message and creative elements of the offer should be customized for particular client groups by Meta. Long-term success requires fostering brand loyalty. Meta might put incentives or loyalty programs to encourage repeat business and foster client loyalty. Meta and its consumers will strengthen the relationship by providing unique advantages, individualized experiences, and excellent customer service, promoting loyalty and advocacy.
Consumer tastes and preferences:
Consumer tastes and preferences refer to customers' subjective preferences and inclinations toward certain products, features, or experiences. An example of a shift in consumer tastes and preferences for the Meta Quest VR 2 could be an increasing demand for multiplayer virtual reality games (Sami et al., 2023). As more users express interest in socializing and collaborating within the virtual reality environment, Meta could leverage this shift by promoting the multiplayer capabilities of the Meta Quest VR 2 and highlighting its compatibility with popular multiplayer VR games.
Age, gender, economic level, and the location of the target market are examples of demographic considerations. For instance, a change in demographic characteristics might be seen in the senior population's increasing interest in virtual reality. To guide a new promotion, Meta could develop targeted campaigns emphasizing the accessibility, ease of use, and benefits of the Meta Quest VR 2 for older adults, such as virtual travel experiences, virtual fitness classes, or memory enhancement activities.
Economic factors are the overall economic conditions influencing consumer purchasing power and behavior. An example of a shift in economic factors could be a period of economic recession, leading to tighter consumer budgets. In response, Meta could adjust its promotion strategy by highlighting the affordability and value proposition of the Meta Quest VR 2, emphasizing its ability to provide immersive entertainment and experiences at a lower cost than traditional vacation or entertainment expenses.
Natural factors encompass environmental conditions and events impacting consumer behaviors and demand. Since the Meta Quest VR 2 is a virtual reality device, natural factors may have a limited direct impact on its promotion. However, a potential shift could be the growing awareness and concern for eco-friendly products and sustainability. Meta could align its promotion with eco-conscious messaging, emphasizing the energy efficiency and recyclability of the Meta Quest VR 2 components, appealing to environmentally conscious consumers.
Technological factors include advancements and innovations that can influence product demand. An example of a shift in technological factors could be the development of more immersive and realistic virtual reality experiences through advancements in graphics and haptic feedback. Meta could leverage this shift by highlighting the enhanced realism and immersion of the Meta Quest VR 2, showcasing the latest technological features and partnerships with content creators that offer cutting-edge experiences.
Political and legal factors encompass regulations, policies, and government actions that can affect business operations and consumer behaviors. While specific examples may vary, a potential shift could be the introduction of stricter data privacy regulations. To guide a new promotion, Meta could emphasize its commitment to user privacy and data security, highlighting features such as user-contro