An importer of electronic equipment, Advanced Electronics Pty. Ltd. has developed, in conjunction with a Korean manufacturer, a new electronic reading device (e-reader) which has significant advantages over products already on the market. Its features are:
- it allows reading under all light conditions, including bright sunshine
- it is ultra-thin (2.5mm)
- it weighs150 grams
- it can be collapsed to (80mm x 80mm) but can read documents in either 150mm or 300mm diagonal displays
- one battery charge will allow around 35 hours of reading. Fully charging the battery takes two hours
- it can store up to 2,400 books (4GB internal memory – 3.5GB available for user content)
- the unit has two USB ports
- they will be able to match competitors’ prices.
In the past Advanced Electronics has mostly imported and distributed electronic items such as tablets and notebooks to retailers. The company has had little involvement in marketing to the final purchaser.
Advanced Electronics is now seriously looking at marketing their new electronic reading device to consumers. Their policies and procedures are based on striving for fulfilling customer’s needs. Advanced Electronics’ management seeks your advice on the following:
You have advised Advanced Electronics that an important part of the planning process is the formulation of SMART objectives. They propose the following objective:
“We want to significantly increase sales and profits.”
- What is your advice about this objective?
- Rewrite this statement as a SMART objective.
The next step for Advanced Electronics is formulating strategies for each element of the marketing mix for the electronic reading device.
- Briefly explain the following terms:
- marketing mix
- promotional mix
- What are the possible pricing strategies for the e-reader? Describe the main factors you would consider before arriving at a price?
- Suggest three brand names for the e-reader and justify your suggestions.
- Explain each of the following forms of distribution in relation to the electronic reader:
Which one would you recommend for the e-reader? Why?
- Consider the segmentation strategy and the benefits you identified for your target market in Assessment 1. What promotional mix recommendations would you make for the e-reader? Justify your recommendations.
- Advanced Electronics management have formulated a promotional objective to increase brand awareness of the electronic reader by 7% within a three month period. Their preferred strategy is to engage new potential customers through a range of social media platforms that are integrated with the Advanced Electronics website.
Based on the organisation’s marketing practices and your recommendations throughout these Assessment tasks, your task now is to develop an implementation plan for this objective.
Your implementation plan should be in a table format and include the following information:
- Planned promotional activities
- Actions required against each activity
- Responsibility (job assignments) – this may include internal staff and external agencies
- Time lines
- Other resources required
- Communication requirements
- Monitoring methods
Now that you have developed the implementation plan, you need to seek approval from key stakeholders to implement your plan.
Draft an email to the Advanced Electricals senior management team communicating your implementation plan for the Electronic Reader. Make sure your email includes the following elements:
- An brief explanation of how your plan will achieve the promotional objective (e.g. to increase brand awareness by 7% within 3 months)
- The specific marketing activities you plan to implement
- Personnel required and their specific functions in relation to the implementation plan
- Budget required
- Any other additional resources requirements.
Explain how you would review the success of Advanced Electronics’overall marketing plan.
Describe four (4) suitable measures (metrics) that you would use in your review. Why have you chosen each measure?
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