The message to be conveyed in line with the positioning is that this product is a very high quality product that is reliable and trustworthy and it is available to the consumers at a very affordable price and is excellent value for money.
Promotional Mix
Sales Promotion: This will be used to increase the sales of the product. I will be using competitions to interest consumers about the product and special offers in which the consumer can save money such as Typical 0% APR.
Advertising: This will be used to make consumers aware of the product and to present and describe the key features of the product to potential consumers. Advertising cal also be used to create associations between lifestyles e.g. fashionability. I will use different types of media to advertise the product. I will be using television and radio as one of my advertising methods, I will be using these methods because television is the most powerful medium, reaching 98% of households and radio is another of the biggest mediums reaching millions of potential consumers all over the world. Another advertising method I will be using is printed media such as billboard advertisements and newspaper adverts this allows the product to reach millions of potential consumers through the press. The benefit of printed media is that the message can be long and complex, the message is durable and can be read repeatedly. If an advertisement appears in a high prestige publication the product can take on the prestige of the publication.
Sponsorship: This will be used to increase brand awareness and brand loyalty. Sponsorship can be used to raise the image of the organization as a whole. I will be sponsoring sporting events as it is a useful opportunity to associate the organization with a popular sporting event.
Public Relations: This will be used to establish, develop and build relationships with the public, this will enable the organization to provide an external environment in which it is popular and can prosper. Public relations have to deal with their customers, shareholders, employees and special interest groups. Public relations is a long term process as it takes a long time for the organization to improve the way people think positively about its products and services.
Timing: The timing of my promotional strategy is very important to the sales of the product. My promotional strategy will be timed to launch at a time that will maximise sales, I will time my promotional strategy to launch in June so it is ready for the summer as this is a summer sports car and it will be more likely to sell.
Budget: The budget of this promotional campaign will be £3million.
Responsibilities:
Marketing: Their role is to collect information relating to a market or potential market. Then the marketing department will analyze the information collected, make predictions and create appropriate advertising. Also their role is to persuade new customers to purchase their products. They can do this by using marketing campaigns such as television advertisements and newspaper advertisements. They need to find out their customers opinion they can do this by using questionnaire and surveys. By analyzing their results they can find out exactly what their customers want from. This will help them meet customer needs and by meeting their customer needs it increases customer loyalty, which increases customer spending.
The marketing department helps Ford meet its aims and objectives by maximizing sales. Marketing helps to publicize Ford’s company image to the public, advertise new products and services for their potential customers.
Finance: The finance department is responsible for the flow of money in and out of the business and keeping financial records of all of these flows. They also have to plan their financing to make sure they can meet all of their targets. They have to meet their financial control, which means they have to control their cash flows and budgets. They have to evaluate costing which means estimating the cost of new products and equipment. They have to keep records for tax purposes etc.
The finance department at Ford look after money coming in and going out of the company. They are responsible for paying bills, wages and keeping up to date records of the company’s balances. This department will help Ford by making sure that every thing is up to date and providing Ford with information about the company and its profits and losses. This department will help Ford meet their profit objectives by setting targets and budgets and also will help control spending making the operations cost effective.
Research and Development: Ford’s research and development department are reliable for keeping up to date with trends, anticipating their customers needs and keeping up to date with their customers needs. They also have to be aware of what their competitors are doing in the market as well as thinking of new ideas to bring into the market to try and keep an edge over their competition.
They have to research into opening new business opportunities in existing markets and new markets. They are also responsible on advising Ford about investments while helping them achieve targets in the UK and overseas.
The research and development department helps Ford to meet its objectives by making sure the company has what the customers want. They help Ford by researching data to find out what their customers want and how to improve customer service. This functional area will also help Ford achieve its objectives of increasing sales and market share through expansion, developing, quality products and services.
