New Product Report

Question: Creative strategy development begins with an assessment of the marketing and promotional situation and a determination of what needs to be communicated to the target audience. This portfolio provides students with an opportunity to see the IMC Planning Process in action, where students undertake a situational analysis and prepare a Creative Brief. These tasks are crucial to an IMC Planning process as they establish a framework for developing, implementing and controlling an organizations IMC program. Answer: Establishing a new product in the market requires a lot of research to be done before the introduction of the product in the market. Depending on the research, a specific portfolio is set to market the product. Several factors play role in this respect, such as framing a competitive strategy in terms of its price, creating a promotional plan by means of target market and positioning strategies and other factors as well. This paper is based on creating a business plan for the entry of a new product. It has been assumed that the CEO of the company is unable to determine the market scenario well, and being the brand manager of the company, the writer has to acknowledge the market scenario and present a report on it. The product chosen for the purpose of this paper is a liquid detergent for car wash for the company Wash Tec, Australia. The market chosen for the product is New South Wales. Background of the company: Wash Tec is a manufacturer, distributor and whole seller of car care products. It is Worlds largest vehicle wash manufacturer. The company is growing with a number of subsidiaries. The company has been active in more than 100 countries. The plan is to develop a plan for selling liquid detergent for car wash. The detergent will be used for multi-purpose for cleaning the body of the car; tire of the car and for other cleansing purposes (washtec.com.au, 2016). Target market: The target market focuses on the group of scopes which includes the selling of the market product to a high extent. The initial step to promote an MOA which is Marketing Opportunity Analysis promotes the company to rectify the potential value of the market, and the amount of competition (Thorson and Moore 2013). The target marketing includes geographic, demographic, psychographic and behavioral values. The demographic variation includes marketing departments regarding the specific product, ethnicity, and the overall productivity and marketing plan. The psychographics includes the information to establish a strong background and reason why a buyer should buy the respectable product in Australia. The company would stable the background of the product efficiency so that the buyers feel interested to buy the products (Barrett 2016). The criteria which would highlight the psychographic information are the quality of the product, the use of the product and the effectiveness of the product respectively. It also includes the subjects such as motives, lifestyle and personality characteristics (Solomon 2014). As the company is based on the car products specifically the washing products of the car, the lifestyle is a much more important factor which market of the respectable product. The percentage of car users has increased all over the world also including the New South Wales Australia. Therefore the buyers of the car products are of good percentage. It is noted that about 731 per thousand people in the year of 2015 are car users. Therefore it can be said that the users of the cars products are of good numbers in Australia. There are variable factors which can be used to enhance the market of the product and include the best strategy to capture as many consumers as possible (Shimp and Andrews 2013). These strategies are the major actors responsible for increasing the market value and the target market and maximizing the sale. Positioning strategy: A positioning strategy is important to occupy the minds of the target consumers. A right positioning strategy incorporates a strong value among the consumers. Certain things are to be kept in mind at the time of positioning (Sagala et al. 2014). These are: Quality positioning: The quality of the product must be very good. The detergent must be strong enough to remove grease and stains from the parts of the car. Value positioning: The product must have the right value. The price of the product must be reasonable for the consumers to buy it. Wash Tec has always focused on keeping a value of the customers and it is expected that they will continue with the same effort (Riley 2012). Rivalry based positioning: Although the market is dominated by Wash Tec, yet other competitors are Geo Wash, IMO car wash that can be counted as the rival of Wash Tec. Thus, a clear understanding of the operation of these companies needs to be accessed before introducing a new product. Benefit driven positioning: It is one of the most effective way of positioning a product. It is expected that at the beginning of the sale of the product, the company would provide free samples to the customers visiting their outlets (Rahmani et al. 2015). The company might provide discount in the new product on the purchase of other products from them. This way they can approach the target customers easily. Creativity: A bit of creative and innovative approach are made to sell the product with better appeal. It is the creativity of the product or the promotional techniques that attracts the target consumers of the product. Thus, it is always expected that a creative approach is taken towards the marketing of the product (Percy 2014). Designing a proper marketing mix is the foremost thing in the concept of creativity. A recommended promotional mix can be delivered here: Promotional mix The common 4 Ps of marketing is a necessary tool to frame for creating a promotional mix of a newly launched product. For car wash detergent, the promotional mix can be designed as below: Product The product is a liquid detergent that can be used for several purpose of cleaning cars, such as body of the car or the tire. The name of the product could be considered to be Quick Wash. The product is in a form of a spray and it can be easily carried by the user. The benefit of using this product is that only by spraying the liquid and then rubbing the surface of the car can bring shine and cleaning appearance in the car. This is the main selling proportion of the product. Place The region chosen for the sale of the product for the time being is New South Wales. The success of the product might provide it a global approach. Price The price of the product has to be reasonable and should give value to the consumers. The expected price could be $5 for 500ml of car wash. Promotion The promotional techniques have been mentioned here. On store promotion would be the best promotional technique for this particular product. Direct selling would be a better approach towards the selling of the product. Response process: The response process of the customer includes the cognitive which is the thinking, affective comprises the feelings, and cognitive including the behavior. The number of customers who are willing to move on to the final stage of the purchase, including awareness, and business need. The entire process includes awareness, knowledge, liking, preference, conviction, and purchase (Papasolomou et al. 2014). The company makes aware of the products through normal mediums which are not much expensive of the company to expend. Customers gain knowledge about the respective product. According to the product quality and the efficiency the customers set their response on the products. The marketing and selling of the products depends on the publicity and effectiveness of the respectable product. The car washing product of the company Wash Tec produced different strategies which are responsible for the customer response. The company supplied a plan for creating a customer desire for the purchasing of the product (Naeem et al. 2013). The strategy that was subjected are of simple outbreaks for the understanding and satisfactory of the customers. The liking step of the strategies of the customer response includes the factors that encourage the customers to like the product. Therefore the business should try their utmost effort to get the customers to give a positive response for the product (Eisenbeiss et al. 2015). IMC objectives: Integrated marketing communication plays an important part in communicating the brand image to a larger audience. It is one of the effective tools for creating a marketing communication at a minimal cost. The traditional ways of marketing can easily be overcome by the process of integral communication. Integrated marketing saves time and allow the marketers to connect with the consumers in a more healthy relationship (Muruganantham and Bhakat 2013). In this respect, it can be said that direct marketing, personal selling and advertising could be the most effective means of promotional techniques that the marketers could use. Direct marketing: Direct marketing is used to outreach the consumers in the sales list. It has many pros because by the means of direct marketing, people can be reached out easily and directly and thus, getting a positive result is more (Lee et al. 2015). On the other hand, direct marketing requires great effort from the marketers and customer service too. Personal selling: Selling a product personally reduces the cost of marketing and vending the product. If a good sales person is equipped for the purpose of selling the product, then the marketers can achieve their goal to a great extent (Finley 2013). This could be the perfect promotional technique to be used by the company at this stage of product promotion. At every outlet, the company might appoint a sales person for selling the product to the visitors convincing them their own way. Advertising: This is the most effective and the most credible way of marketing a product. There are various channels that might be used for the sake of promotion. Advertisement helps to build a brand image among the consumers (Fang et al. 2015). By means of various advertising channels, the reach can be made higher for the product. New promotional tool The promotional strategy is one of the major plans for a company to promote the brand as well as the products of the company. The mediums through which it promotes the publications are such as brochure, advertisement, outdoor, etc. The main effectiveness of the publication includes major and proper thinking of the plan and the attractive strategies which will enable the customers to make a inquisitive move for the information about the product (Bickhoff et al. 2014). The company has produced big events in the outdoor parameter as well as publishing the products in the heavily crowded area, such as residential places, markets, office areas and also near the car shops. This is because the car shop may require car washes for managing the cars, provided by the customers to service. Another important strategy for the publication for promoting the car washing products is by POP or point of purchase, by a mall, market or sometimes in an open trade fair. Sometime free samples are to be supplied with respective goods, so that customers could analyze the quality of the product and have the interest to use it in a daily basis for the cleaning purpose of the car. Free sampling is strategies which have shown a major success in the field of marketing and sales (Babin et al. 2015). Major selling ideas: The central theme of selling the product is its multi-purpose use. Generally the wash products come with segregated usage. Different products are available for the purpose of cleaning the metallic body of the car, the inside parts such as the seat or the dash board and for cleaning the tire of the cars (Ewing and Ramaseshan 2015). However, quick wash is such a product that does not require segregating the parts of the car and it can be used for all purposes. The product also does not require any water support and it can be used just as a spray and on rubbing the surface, it can bring back the shine of the car. This is the Unique Selling Proposition of the product and this idea is needed to be focused on at the time of carrying out any kind of promotional activities. The competitive advantage of the product is the unique idea of the product. Moreover, the price of the product and the brand value could also be proved to be one of the competitive advantages for the company (Blakeman 201 4). On store publicity and direct selling could be the best way of approaching the product to the customers. Wash Tec has a loyal base of customers and there is a great possibility of convincing the consumers for using the product when they would approach the outlet. This way, the company can save a certain amount that they would have spent if they had adopted other means of selling. Thus, a greater earning of profit is expected. Creative strategy: It is very important to decide on an advertising media where the product is to be advertised. Again, creating a creative and attractive advertisement will be more appealing and would attract more consumers towards the product. As discussed, for a product like car wash, no such traditional advertising media would prove fruitful for the company (Bickhoff et al. 2014). The approaches made towards selling the product should be inclined more towards direct selling. However, a creative approach could be made towards the packaging of the product. The product could be made in the form of a spray and it could be made really handy that it can be easily carried by the users. Moreover, it is also recommended that the product might be available in all sizes that depending upon the choice of the consumers, they can buy the product (Babin and Zikmund 2015). Recommendations: It can be recommended that in case of a product like a car wash, the quality and the value of the product is what matters the most. The product is quiet unique to get attention of the consumers in the market. However, a proper promotional technique would be of greater importance for the launch of a new product. Other than direct selling and offering small sachet to the regular customers, the company might take on regular approaches towards promoting the product by the means of advertisement. On store promotion and outdoor media would be better choice of media rather than using the traditional media like television advertisement or new media such as social media networks. However, since, promotion through social media networking is cheap and easily accessible; this media can be used by Wash Tec because the reach by the means of social media becomes greater. Focusing on the packaging of the product, might result in greater chances of acceptance among the consumers. Conclusion: The discussion made throughout the paper made it evident that it requires a good research along with proper promotional approach towards the marketing of a product. Various approaches needed for proper marketing of the product has been analyzed here. It has been found that Wash Tec is a globally operated company and has a good market around the globe. The company has come up with various products related to cars maintenance. Launching a new product will not be a challenging task for the company. However, taking a proper approach will always result in better return from the market. Reference list: Babin, B. and Zikmund, W., 2015.Essentials of marketing research. Nelson Education. Barrett, C.B., 2016. Market analysis methods: are our enriched toolkits well suited to enlivened markets?.American Journal of Agricultural Economics,78(3), pp.825-829. Bickhoff, N., Hollensen, S. and Opresnik, M., 2014. 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