Crafting the Perfect Pitch: The Art of Promotional Planning

Nicole should target her book to individuals that can relate to the topic. They’re able to continue to make purchases of non-essential books in a special interest category due to their comfortable incomes. They are socially aware and have witnessed the changes that can affect us in both work and family life as they are parents themselves. They have turned 50 or are of an age leading up to 50 and they will be interested in this book and are enthusiastic about using the opinions and experiences of others to guide them in their own choices. The target market is referred to as ‘Balanced’.

Balanced consumers are socially aware of the effects of changes in society. They want what is best for their children and want to provide for their families. They want to be able to offer the advice and knowledge to their children that their younger self may have benefit from. They are enthusiastic about setting themselves up to live a happy, content life without discrimination and judgement. They like to further their knowledge, are regular confident internet users and also take part in recreational reading as a hobby. The opinions and knowledge they obtain from this book will be relevant to their own lives for many years to come.

Positioning Statement:

For those people reaching the age of 50, 50@50 offers a 21st century glance at a lifetime of experiences and shared wisdom of an ageless generation.

2.2 Marketing Strategy Recommendations

Having analyzed the target market for the book, ’50@50’ by Nicole, the marketing strategies to be employed include price strategy, promotional strategy, and placement strategy

2.2.1 Price Strategy

The pricing strategies of the book should be aimed at increasing its sales, pricing is informed by risk-taking ability and understanding of the market and customer. Nicole targets the consumer who has reached 50 years or around 50 years. She also targets the young generation so that they can gain knowledge and experience from the elder members of the society. The action of the competitors, as well as the ability of the consumer to purchase the book, should be put into consideration when pricing the book (Teigeler and Hahne 2014). The importance of reasonable pricing is that it makes the number of the readers or customers to increase. Nicole is aware of her customer features and lifestyle, therefore setting the price would not be problematic. Her consumers consider the factors, for instance the commodity that improves their lifestyle. The products that save money, or make the consumers feel strong. Brand positioning would make Nicole grow the brand of the book on the market.

In value pricing, the price of the product is reduced due to external factors that can affect the sale of the commodity (Tanner 2013). It is evident that the book 50@50 is facing competition from two other competitors. However, a serious threat is one author who has penetrated online thereby forcing Nicole to consider value pricing. Nicole makes sure the topic is interesting to the readers and worthy of the customers. She also makes sure the book cover itself makes the buyers admire to buy because it’s designed according to its title. Penetration pricing or pricing to gain market involves keeping low prices for the product.  Nicole on publishing the third book and selling it directly to consumers is enhanced by the fact that she has the right people who are buying the book especially the people who are 50years and also to those who are within 50 years. The market environment makes Nicole understand the people buying the book. Nicole is making sure that the customers are satisfied with her marketing style and that the book satisfies the needs of customers. Therefore, in pricing the book, it is worth considering the purchasing power of the target customer and what the competitors are charging (Chen and Zhu 2018).

2.2.2 Promotional Strategy

To reach the desired customers, the seller must inform the customers about the availability of a product. According to Fan, Lau, and Zhao, (2015) no one would buy a product if he has not heard of it or how much it cost. Strong promotional strategies are essential in that it helps the company position itself (Lim and Choi 2017). Promotion can be done through the use of social media whereby the name of the book is put in the eyes of the public.  When Nicole give the customer good service it encourages them to buy her book this is because they will be encouraged emotionally to read change the lifestyle. The customers would make referrals to people who are discouraged to read the book to obtain advice. The technical skills Nicole have on this book gives the customer focus of buying it.  For Nicole to win in marketing and achieve the goals she has to target the new customers, enhance customer relationships. The business must also determine its market mix as the objective of marketing strategy (Riley 2015). When Nicole deals with the issue of promotion it helps her business to clarify the issues, for example on how customers get the book and how much her business can tentatively expect to make. Nicole set the goal of convincing her consumers that once they read the book will solve their problems about their age and family issues. The image of the Nicole business of selling this book makes her reliable, affordable, healthy and upscale, and this attracts consumers to get the benefit and create customer affinity and loyalty. To people within the age of50@50 are also the beneficiaries, this is because when they read the book educate them more give them more skills on their lives. When Nicole delivers the book to the customers has the market efforts on generating leads and attracting prospects. When Nicole makes sure she has finished introducing the book to keep them in an affordable manner. This makes her business profitable. Nicole ensures she has customer-friendly so she can serve any kind of a person regardless the age. Nicole is knowledgeable about the specification of her book, and at the same time she is personable and when Nicole delivers the book to the customers has the market efforts on generating leads and attracting prospects. When Nicole has introduced the book she has to keep them at affordable prices, thus making her business profitable. Nicole ensures she has customer-friendly so she can serve any kind of a person regardless the age. Nicole is knowledgeable about the specification of her book and at the same time she is personable and she has genuine desire to serve. This makes her so competitive and this makes her achieve the goals and get more customers.

2.2.3 Placement Strategy

The customers want authenticity and honesty when the product is being advertised (Guesalaga2016). According to Cohen et al, (2015) customers expect marketing strategies that rely on the placement of product in a display prominently.  In target marketing, Nicole makes sure she reaches to the right people or buyer. In this section, the target audience is the people of age 50 and also to those ranges within the age of 50. So Nicole focus on these people who will buy the book, this limit the population funnels research and budget to the customers with the highest profit potential. Nicole is also doing design strategies to meet the needs of the target market and also uses media channels and other channels to reach the purchaser. Nicole considers the product positioning because helps her determine how to best communicate her book attribute to her target customers based on the customer needs. When Nicole is selling the book usually communicate the language understandable to the buyers this is will convince them to buy the book and will see the benefit of the book how the book will benefit them in this age of 50@50 and also to those around the area of this age. Nicole has the listening skills to the customers in order to understand how the buyers want from her, and this will make the buyer feel really valued and respected. This will build the relationship stronger and will make the buyer to have interest in buying the book. In processes electronic is used whereby Nicole used the codes that one can scan using the phone. It is so pretty because a lot of people feel that it’s cool and it gives them a sense of virtual reality. Direct activities happen also in processes whereby Nicole gets the reactions of the customers about the book how they say about it if it is benefiting them. An intelligent and well craft positioning statement is a powerful tool which brings focus and clarifies to the market strategies and promotional tactic. When Nicole is using this well she attracts the customers and wins market share from the competition. This is the only type of placement strategy that people used to. So Nicole pays attention to this in the future to give her more knowledge when introducing another book. The people who are getting a hard copy are able to peruse quickly and see what the book contains and help them to understand which category the book follows too. The buyers get the contents very fast and they have a chance to ask questions to the sellers and make decisions without any problem (Srivastava 2015).

Conclusion

The response Nicole gets from the customers helps her to know which way she can improve and if any failure happens to her customers she is aware of how to solve the problems arising to the customers. The price of the book is reasonable to her customer of the age 50@50 and to those within this range of years of 50. The price of the Nicole book is not very high such that customers are unable to pay, and also the price is not that too low although the customer likes to pay less this may make them to doubt the book. The book fits the consumers because it is encouraging them on their year’s of50 and also it is giving youth people knowledge and educates them more about their lifestyle. She is aware of which side is her customers get the book quickly either through hard copy or the softcopy. If the hardcopy customers are many she is forced to print many copies. This business she is benefiting more from the direct customers because she can hear the comments from customers if negative or positive and this will make her improve where necessary.

Reference

Chen, F. and Zhu, D., 2018. Price Strategy and Network-Size Allocation Strategy in a Two-Sided Monopoly Market.

Cohen, D.A., Collins, R., Hunter, G., Ghosh-Dastidar, B. and Dubowitz, T., 2015. Store impulse marketing strategies and body mass index. American journal of public health, 105(7), pp.1446-1452.

Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research, 2(1), pp.28-32.

Guesalaga, R 2016, ‘The use of social media in sale: Individual and organizational antecendents, and the role of customer engagement in social media’ Industrial Marketing Management, 54, pp. 71-79, ScienceDirect, EBSCOhost, viewed 8 May 2018.

Lim, S. and Choi, Y., 2017. Promotion Strategy and Economic Effect of an Inter-Korean CEPA.

Riley, J 2015, ‘Extended Marketing Mix (7P’s)’, tutor2u, retrieved 9 May 2018, https://www.tutor2u.net/business/reference/the-extended-marketing-mix-7ps

Srivastava, R.K., 2015. Product placement by global brands as an alternative strategy: is it worth in emerging market?. Journal of Strategic Marketing, 23(2), pp.141-156.

Tanner, R 2013, ‘The DIY author tour: how to sell a book in America’, Poets and Writers Magazine, 1, p.77, Literature Resource Center, EBSCOhost, viewed 8 May 2018.

Teigeler, J. and Hahne, A.K., 2014. Product and Price Analysis of Red Bull in Central Europe: Marketing Mix. GRIN Verlag.