how does a marketing communication plan for a hi fi products be like ?

Question

am doing a marketing communication plan for a new range of hi-fi products anything you may advice me on the way forward i would be very happy

Answer 1

You must write the MarComm plan in report format

Introduction

*Background -of the company and the products
*Situation Analysis- Market situation including competitive forces and technological advances
*Purpose of the Plan- Is it to position or reposition hi fi products?

Goals and Objectives

Goals- To increase awareness of hi fi products irrespective of gender and income class
Objectives- Use SMART objectives
* Specific - Be precise about what you are going to achieve.
* Measurable - Quantify you objectives.
* Achievable - Are you attempting too much?
* Realistic - Do you have the resource to make the objective happen (men, money, machines, materials, minutes)?
* Timed - State when you will achieve the objective (the duration of a MarComm plan is usually 1 year/12 months)

Example of a SMART objective derived from the goal stated above-To increase awareness of hi fi products by 20% over the next 12 months

Target Audience

*Description of Target Audience- -Briefly describe the target audience eg people living in Texas who use electronic systems for reproducing sound from radio or recordings

*Primary Target Audience - (What age, group of people constitute your biggest market) eg. the primary target audience consists of adults between the ages of 25-35 years who are involved in reproducing sound. They are working class professionals who have a monthly income of $50,000
*Secondary Target Audience
*Tertiary Target Audience

Strategy

*Positioning Statement-eg Hi fi systems are the most effective electronic system for reproducing high-fidelity sound from radio or recordings.
*Differentiation- how are the hifi products differentiated from similar products
*Selection of Promotional Tools-select only those tools that will reach your target markets

*Advertising- eg Advertising will be utilized because it is the most effective and appealing means of promoting electronic products. Advertising will build awareness and help to achieve "top of mind" for hi fi products. Through this medium, a 20% increase in sales is projected.

*Promotions

Tactics

*AdvertisingVisual and sound advertising is most appealing when promoting electronic products As a result, print (newspaper and flyers) and electronic media for advertising will be selected as a part of the promotional mix.
Remember to choose based on the media consumption habits of the target audience

*Print- The print media of choice will be ABC daily paper and flyers.ABC daily Paper was chosen because it has the widest reach and has the most credible printed information.

Say how many ads, size of ads, color or black and white, what section of the paper the ads will be printed and on which days. Do the same for the other media listed below or you can choose your own media based on the target market's consumption habits.
*Flyers
*Television Say what air time you will be buying eg a 30 second ad before Prime Time news at 7:00 pm etc. Make sure you purchase air time during programs that your target audience watches/listens and on various media.
*Radio
*Website


Promotions
*Contests And Prizes

*Publicity

Implementation- say how the plan will be implemented, naming the people responsible for each stage of the implementation

*Schedule- Do a Gantt chart to show the schedules activities

Evaluation And Control- You want to know how effective your marcomm plan is. Prior to the implementation of the Marketing Communications Plan, and immediately after, you can do a surveys using short questionnaires as a method to measure changes in interests, attitudes, levels of awareness, and education regarding hi fi products.


*EvaluationYou can measure sales before and after the implementation of the plan

*Control -hold meetings to ensure that the plan is going well
and make people accountable by submiting reports of their activities

Budget- There are different budgeting methods. Say which one you are going to use and why. Briefly describe how the method is used. State how much money will be required to implement the Mar Comm plan.


Budget -submit a detailed budget
Conclusion
Hope this helped in addition to the other answers received.

Answer 2

You sure have your hands full! This is no easy assignment and it is usually done by a professional. I will try and guide you, but this will not be good enough by any means.

- Identify & define your target consumer - Example: males 16-25, residing in N.Y with a disposable income of $400 per month

- Once this first stage is complete, u need to determine the best possible way of reaching the above target. Radio? print perhaps online ads? by best, I mean the medium that has the best and most effecient reach. Cost per thousand methodology, if radio reaches 10,000 people and u pay $100, then your CPM is 0.01. do the same with the other mediums.

- Decide on the media, come up with a budget based on the sales forecast.

- Media plan time - titles, expenditure, discounts, frequency and timing


Well, the above sums the components of the MC plan, of course there is a lot that u need to do. Best of luck

Answer 3

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