This project is based on deodorant product which is having chocolate fragrance currently having operations in USA but making plans to expand across the globe.
- Determine different element of marketing mix
- Provide application of CBBE model for building strong brand image at market area
- Develop concept of integrated marketing communication
- Provide tool to measure success at market area and suggestion for future improvement
Strategic marketing can be defined as one of the most effective technique which is mainly used by the companies so as to differentiate the products of their company with that of their competitors. This is also considered as very effective in improving the strength of the company as well. This can be used by the companies to take advantage of opportunities which will be arise in future in the new as well as existing markets (Baker, 2014). It is basically utilised to examine the needs of customers which are playing an effective role while creating the marketing plan of the company. There are various kinds of benefits attached to it like customer satisfaction, Improves company performance and higher profits. John lewis is the company which will be referred in this report. It is basically a chain of high end departmental stores which is being operated through out UK. They are having 50 stores throughout England, Scotland and Wales.
In the present report, different elements of marketing mix will be discussed along with the application of CBBE model so as make a good brand image in the market. Also, the application of integrated marketing communication and the tools to measure the market success will also be determined.
1. Different elements of marketing mix
Marketing mix is very effective method and technique that can be used for developing and making effectual schemes and policies regarding various factors such as product, price, place, promotion, process and physical evidence (Bhattacharya, 2010). Along with this, it will assist in providing opportunities for earning competitive benefits within the market area with the help of effectiveness in business operation and its functions. Marketing mix is formulated and developed by administration of John lewis which are offering deodorant with the chocolate fragrance for young generation. There are various elements which are described as under:
- Product – John lewis introducing deodorant product with chocolate fragrance in the market of US. They are target young generation of John lewis organisation which help in increasing success and growth in the large market place. They are expanding their business operation in the other countries by providing creative and innovative products and services in proper manner. This can bringing profitable outcome to the firm if they are making effective decisions regarding launching new product in the market of US.
- Price – This is essential factor which required to be identified by administration after evaluating and analysing the buying behaviour of customers and also spending with the level. It can be analysed that John lewis company can set their deodorant product price very reasonable for the each class of people.
- Place – This will includes that product where they are introducing their deodorant product with chocolate fragrance. It will assist in providing the opportunities for developing and building effective dispersion method. For this motive, the franchising option can be adopted by an organisation.
- Promotion – This is that stage of process that assist in carrying their awareness among customers regarding their various offers and discounts in the large market place (Berthon and et. al., 2012). In this context, Deodorants are main product which are attracting large number of buyers towards their fragrance and features.
2. Application of CBBE model to build strong brand image in new market
CBBE model: It can be defined as an effective model which is helping the company by providing them opportunities to build a strong brand image in the marketplace. It is also being called as customer based brand equity model which is given by Kevin Lane Keller. It is very essential for the company to think about the customers and the type of products they like because then only they will be able to apply this model in a proper manner and achieve positive results as well. Along with this, the company is also required to render their business functions in most effective manner through which customers can get positive response towards the brand as well.
In the current assignment, this model is being implemented by John lewis company to develop their strong brand in U.S. which is basically a deodorant which will be launched in chocolate flavour in market. This will be a very innovative move by the company because through this they will influence the buying behaviour of customers (Pagani and Otto, 2013). They have customers all over the world so they can also help the company to promote their new product in the new country by recommending it to others or using various kinds of tools to promote it. All these steps will have a direct impact on the image of the company which contributes to improve the sales and profits f the company. The various steps which are implemented to build strong brand image in U.S are defined below:
Step 1 Brand Identity- Who are you?
This is the first step which is being undertaken by the management of John Lewis to generate awareness about the kind of product they are launching in the market of U.S. It is very essential for them// that the targeted people of U.S must know about their Chocolate flavoured deodorant because then only they will be able to increase their sales and profits in that market (BarÃ¢â‚¬ÂIsaac, Caruana and Cuñat, 2010).
John Lewis started promoting their deodorants by making use of various social media tools and also giving free samples to the customers who are purchasing any kind of product their supermarket chain. It is also very much necessary for the company to make use of a specific logo so that it can be recognised in between other products as well.
Step 2 Brand meaning- What are you?
In this step, description is being rendered about what the brand means and what it stands for. There are two factors which help the company in exploring it more effectively include performance and imagery. John Lewis company will make use of this information regarding the satisfaction the product will give to the customers of U.S.
Performance: This is also a very effective factor as it help the company in understanding that whether the company in able to satisfy the needs and demands of the customers. John Lewis is doing their operations in the market from a very long period of time and in an effective manner as well. The deodorant is having a very good fra grance and that is why the company is confident that they will grab the market of U.S as well in a very quick manner.
Imagery: This will tell about the ability of the products that whether it will be liked by the customers or not and provide them appropriate level of satisfaction to them or not. But since John Lewis is already an established brand so they are satisfying the needs and demands of the customers.
Step 3 Brand responses- What d I think or Feel, About You?
In this, those kinds of activities will include through which the response of the customers towards the brand can be noticed (Berthon and et. al., 2012). There are two parts through which the views of the customers can be ascertained like in the form of judgements and feelings etc. The management of John Lewis is required to analyse all those aspects through which they can identify the judgement of customers towards brands:
Quality: This is the first factor which a customer’s checks while buying a particular product. If the product is good quality then it will be liked by customers and vice versa.
Credibility: Trough this factor, customers check that whether the product can be relied upon or is worth purchasing again or not. If yes then it means that it will be used for longer time by customers.
Consideration: It contains the relevance of the product that is being provided in the market as per the choices of the customers.
Superiority: here, the company compares their brand with that of competitors and then analyse the competition (Bhattacharya, 2010).
Step 4 Brand Resonance- How much of a connection would like to have with you?
This is the most effective part of the company where all the other company also wants reach. Now after this they will be able to keep a good connection with the customers in the market. It has further have four different categories which are need to achieve:
- Behavioural loyalty
- Attitudinal attachment
- Sense of community
- Active engagement
3. Concept of integrated marketing communication
Integrated marketing communication
Integrated marketing communication can be defined as to interacting with effective motto or phrase to their staff members that can be used as core message. This is applied and implementing an effective strategy where communication and marketing are totally connected with each other for achieving their desired results in proper manner. Generally, brand is recognised by their personal signs or symbol that reflect on creative message for customers is to motivating them for purchasing their potential goods and services (BarÃ¢â‚¬ÂIsaac, Caruana and Cuñat, 2010). There are various marketing activities or events that can be carried out effectively and efficiently along with assistance for developing proper interaction and conversation in improving number of buyers for an enterprise. There are certain process that can be conducted that includes personal selling, sales promotion, advertisement and direct marketing.
Along with this, there are different types of importance which can attaining integrating marketing with communicating so this will help in providing help to encourage their people towards particular brand. This is that technique that can be used for making strong relation among their customers as well as company which assist in retaining their customers for long time period.
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