Marketing & Communications in a Digital World
- The presentation will address the elements of marketing mix and its effectiveness when the re-launch of the product takes place. Further it will go about accessing an identification of the projected success of the product re-launch based on the market research performed by the company. Post this, a detailed explanation will be provided on how an effective marketing campaign can bring about commercial success to the company (Išoraitė, 2016).
Elements of marketing mix
- The marketing mix model consists of seven elements that aids the firm in planning their marketing strategy and accordingly target the right type of audience that will bring in sales and revenue for the company. The seven Ps of the model will be addressed below in detail (Londhe, 2014).
- Product: Nokia is known to be producing one of the most successful phones amongst all the other brands in the world. Nokia 3310 was first launched in the year 2000 which was the most successful phone launch of the firm and now the firm is planning on re-launching the same phone with added features in 2021.
- Price: the price of Nokia 3310 with its re-launch is £49.99 which is a classic. The price still stands affordable for the middle class people in the society. With the phone being affordable the sales are going to be high when the phone gets launched.
- Place: with the increase in social media marketing and the world of internet the phones can now be sold on both offline and online channels all over the world. this will give the firm extensive sales because it can cover sales in the entire world via online orders.
- Promotion: with the increase in digitalization, promotion can now be done via online models that is through social media marketing and other social web pages that connected customers to the company.
- Process: the company has established processes to get in touch with the customers for complaints regarding the product and its usage. This helped the firm in building strong customer bonds and increases the potential customers for the brand till date.
- People: the staff of the company are well-skilled and trained to fulfill the demands and complete the demands when the re-launch will take place.
- Physical evidence: Nokia has stores all over the world and processes its products in distinct color packaging with the logo of the company. This makes it easier for the customers of the firm to identify the products of the firm easily amongst the other products in the market
Identification of projected success
- Based on the product research performed by both the primary and secondary methods it was known that customers are very excited about the re-launch of the classic phone in 2021 (Poynter, 2010).
- A search evaluation performed by insights firm Captify depicts that the search in UK for Nokia phones increased by 797% following 3310 re-launch. The most popular searches were for the features like the phone cases ,the Snake game, camera and battery life.
- The come-back of Nokia that comes with a snake and a stand-by battery life of about a month reminds people of the simpler times back in 2000.
Effective marketing campaign leading to commercial success
- Marketing campaigns are essential for commercial success as they help in popularizing the product in the market and create a hype about it in the market.
- A successful marketing drive can fuel varied interest in one’s firm and elevate the sales, donations, and effect of the process (Constantinides, 2006).
- The campaign is essentially an advertisement created to fulfill an objective with a start and an end date.
- Successful marketing drive with good planning leads to commercial success.
- Constantinides, E., 2006. The marketing mix revisited: towards the 21st century marketing. Journal of marketing management, 22(3-4), pp.407-438.
- Dominici, G., 2009. From marketing mix to e-marketing mix: a literature overview and classification. International journal of business and management, 4(9), pp.17-24.
- Išoraitė, M., 2016. Marketing mix theoretical aspects. International Journal of Research-Granthaalayah, 4(6), pp.25-37.
- Luan, Y.J. and Sudhir, K., 2010. Forecasting marketing-mix responsiveness for new products. Journal of Marketing Research, 47(3), pp.444-457.
- Londhe, B.R., 2014. Marketing mix for next generation marketing. Procedia Economics and Finance, 11, pp.335-340.
- Lietz, P., 2010. Research into questionnaire design: A summary of the literature. International journal of market research, 52(2), pp.249-272.
- Patino, A., Pitta, D.A. and Quinones, R., 2012. Social media's emerging importance in market research. Journal of consumer marketing.
- Poynter, R., 2010. The handbook of online and social media research: Tools and techniques for market researchers. John Wiley & Sons.
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