Principles of Marketing Research Regarding IMC

Assignment Case Study
You are the Chief Marketing Officer (CMO) for a consumer products company. Your company just launched a new brand of hair care products targeted at young girls between the ages of 14 – 19. You spent millions of dollars researching the habits of girls in this age bracket, what is important to them about making their hair care product decisions and the views of competing products and are confident that, with the right IMC plan, the new line will be very successful. 
While you believe that your product offers features that its competitors do not, you also realize that this range of products is saturated with various options, including those targeted in the same way. You need to ensure that your IMC expenses are used in the wisest way possible.
Here is a summary of the marketing research finding regarding IMC for hair care products. Girls in this age bracket report the following:
•    80% rely on advice or information from a trusted friend in order to try a new product;
o    When asked about the trusted friend respondents generally said that the person was in the similar age group;
•    50% say that they get information about new personal care products from reading magazines;
•    72% report that coupons or other discounts help ‘push them over the edge’ to try a new product;
•    64% say that they do not do repeat purchases of the new products that they buy.  Reasons cited were disappointment in performance, too expensive, and could not tell a difference in the results using the new product and the other products that they had been using;
•    78% report that packaging is important and they have to ‘like the look’ of how the product appears on the bathroom or shower shelves;
o    You are confident in the packaging decisions that were made as much of the marketing research budget was exploring this area as it is so important in the decisions making process;
•    56% of respondents say that they have a ‘better impression’ of products sold though salons as opposed to large retailers like grocery stores, Wal-Mart and Target;
•    43% of respondents say that they make their decisions after the first couple of uses as to whether the like the product and it was ‘worth it’’
Armed with this information you and your team need to decide how to allocate your $30 million marketing budget for this range of products. You know that you will have to present your findings to the Board of Directors as well as the Management Team so you will have clearly explain and justify your decisions.
 
Explain the importance of each phase in the development of an IMC plan.

Target Audience

The target audience for hair care product is women and young girls between the ages of 14 to 19. These young girls are college and school going and depend on their pocket money. This target group do not prefer expensive products as they solely rely on their pocket money. These young girls want cheap and effective hair care products helping them groom their looks. These girls are like reading fashion magazine and spend time on social media and aspire hair like leading fashion models at affordable price. 

Communication & Marketing Objectives

The scope of the project is to create an IMC plan for positioning the company with as leading hair product brand in the area (Yeshin, T., 2012). The underlined objectives will be beneficial in narrowing the scope. 
Communication objectives:
For position the brand as leading hair care products, the following must be set as communication goals:
•    Communicating with the target audiences regarding the inexpensive services
•    Informing clients about various healthy hair care practices using social media
•    Developing community relations for building positive reputation.
Marketing objectives
The organization aims to gain high awareness resulting in high sales. The marketing objectives for this range of hair products will be (Holm, O., 2006):
•    15% increased annual revenue by the end of the six months.
•    Increasing the weekly customers by 30% within 3 months
•    Establishing online presence for engaging 30 % of the salon clients. 

Place Order For A Top Grade Assignment Now

We have some amazing discount offers running for the students

Place Your Order

Marketing Mix

•    Products
The hair care products include mild shampoos, conditioner, styling products. A tonic shampoo will also be introduced for the girls who have damaged hair due to excessive heat. Organic styling serum and gel have also been introduced for the girls who like to try new styles every day.
•    Place
The brand is international but as the range is new, it will first be released locally and then internationally in other countries.
•    Price
As the product target young girls therefore the product is minimal as compared to the current competitors.
•    Promotions 
Adoption of dynamic and aggressive strategy. For the current target audience, social media and TV are the best channels for advertising.  

Budget

Billboards/ Framed Posters $180,000.00
Direct Mail Promotions/Events $5,000.00
Television $100,000.00
Social Media $1,000.00
Website $70.00
Print Ads $4,800.00
Total $290,870
    

Evaluating the outcome

•    Communication assessment
?    Using the advertising methods, the goals of increasing awareness will be achieved.
?    Discount offers will help in establishing good rapport with community member.
?    Low and affordable prices along with hair care practices will be mentioned using online tactics. 
•    Marketing assessment
?    For increasing weekly customers, around 20 hair care products are sold weekly.
?    For increasing annual revenue, the revenue for last year will be compared to evaluate the IMC tactics.
?    The organization will compare clients coming in salon with other people and friends.
?    Website traffic will be recorded for evaluating the online presence.

Conclusion and Recommendation

The company will understand the feelings and needs of audience and will try to connect to the young girls. The advertising campaign will try to sell and promote the range with their own values.  

References

Yeshin, T., 2012. Integrated marketing communications. Routledge.
Holm, O., 2006. Integrated marketing communication: from tactics to strategy. Corporate Communications: An International Journal, 11(1), pp.23-33.

Get Quality Assignment Without Paying Upfront

Hire World's #1 Assignment Help Company

Place Your Order