Advertisement Strategy. Essay Example

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    High School
  • Page:
    2
  • Words:
    887

ADVERTISEMENT STRATEGY. 6

Advertisement Strategy.

Lecturer

Advertisement Strategy.

Introduction

All businesses have their own market which includes the group of existing and potential buyers or users of their goods and services. These groups range from small groups to millions of consumers. However, to attract and maintain these groups of people, a company has to market its products through various methods such as sales promotions and advertisements. For advertisements, a company has to have an advertisement strategy in place. According to Cole (2004), advertisement can be defined as “the process of communicating persuasive information about a product to target markets by means of the written and spoken word, and by visual material”. In general, any advertisement strategy has the following components:

  • Mission: this includes the advertisement objectives

  • Money: the cost of advertising

  • Message: what message is to be sent

  • Media: the media that will best pass the message across to target groups

  • Measurement: how the results will be evaluated

Hot Wheels Cars advertisement strategy for Flood Waters Hot Wheels

Advertisement objectives

  • inform customers about specific features of flood waters hot wheels

  • indicate distinctive features and benefits of flood waters hot wheels

  • encourage potential customers to buy flood waters hot wheels

  • maintain loyalty of existing customers

Advertising media

The best media for advertising our new product is through commercial television and the press especially magazines and journals. Commercial television is advantageous in that large masses of people are reached within a short time. Additionally, commercial advertisements are frequently repeated hence the target groups are constantly reminded of the new product in the market. Also, the distinctive features of flood waters hot wheels such as the make of the wheels, interior design and range of colors will be clearly demonstrated through television commercials. Consequently, through television commercials, people will be persuaded to change their preferences.

On the other hand, the use of the press to advertise our new product, flood waters hot wheels, will be of great impact since the detailed information on the distinctive features and benefits of the new product will be clearly given. The use of magazines and journals will show the features with each feature being discussed individually. As a result, any doubts and questions that the potential buyers might have about the new product will be adequately addressed. Again, since customers buy the benefits of a product, the press gives a clear description of the benefits of flood waters hot wheels as compared to other models in the market.

Cost of advertising

This will largely depend on the media chosen for advertising. Based on the fact that Hot Wheels Cars is a motor vehicle company, the best media of advertisement is through the use of commercial television and the press. However, the cost of advertising should not affect the company’s profits. For this case, commercial television and the press have been chosen with the anticipation that since large groups of potential buyers will be reached, then high sales of the new product will be realized.

Contents of the advertisement message

The message should contain the following elements for it to communicate the desired information:

  • after-sales services such as warranties and guarantees

  • life-cycle of product

  • Distinctive features such as range of colors, variation in engine sizes, speed, status/class, comfort and interior design.

In addition, the message should be meaningful, believable and distinctive so as to attract the attention of the audience. Animations and musicals can also be used to create uniqueness of the message so that when the audience hears the musical they can link it to the product.

In this case, to advertise flood waters hot wheels in a television commercial, the person used for advertising can be a renowned sports icon like Lewis Hamilton. In the commercial, he will be shown driving across a rugged terrain in high speed with the gas tank indicating less gas but he will make it to his destination. This will show that flood waters hot wheels has high speed, the wheels can endure rough terrain and that it can cover several miles with less gas meaning that its fuel efficient. A musical can play on the background with the theme ‘I am a champion of champions.’ Further, Hamilton will elaborate more benefits of Flood Waters Hot wheels which are a range of colors, type of doors, size of trunk, interior design and fittings like air conditioning, insurance cover and gift pack.

Measuring the effectiveness of the advertisement

This will be determined through the response depicted in sales of the product or by conducting a research in the market. Increased sales indicate that the advertisement had a positive impact of changing consumer preferences. Conversely, a research will be done by considering the number of copies of magazines sold which will reflect the number of potential customers reached.

Conclusion

Due to the competitive nature of businesses, it is important for any business to promote its products in a unique way with the aim of reaching large masses of target groups. Advertisement, being one of the methods of promoting a business’s products, if carefully planned can be very effective in persuading potential buyers to change their preferences. Moreover, any business needs to have an advertisement strategy in place so as to ensure the smooth running of advertisements.

References

Cole G.A. (2004). Management Theory and Practice. 6th edition. London: Thomson learning.