Brand Manager Spend the Bulk of Promotional Research Proposal

Pages: 7 (2142 words)  ·  Style: APA  ·  Bibliography Sources: 10  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Advertising

¶ … brand manager spend the bulk of promotional dollars either on traditional, direct benefit-based advertising claims or on "experience-based promotions to develop the market for a new offering?

Promotional Strategies - Traditional vs. Non-Traditional Approaches

Contemporaneous managers are faced with severe challenges on daily basis. One of the most difficult decisions they have to make refers to the marketing approach to take when developing the market for a new product or service offering. This paper aims to look at traditional and non-traditional marketing approaches and conclude on the most adequate stand to be taken. To achieve this desiderate, it is necessary to review the literature and assess the benefits and limitations of each approach.

Literature Review

The members of the academia reveal conflicting opinions relative to traditional and experience-based marketing. To better understand these views however, one has to comprehend the meaning of each term. Offering a definition of traditional management is extremely difficult mostly since the concept has been only recently introduced, after the development of more modern approaches. Ultimately then, traditional marketing encompasses the historical strategies of the marketing mix (product, price, place, promotion) and those of market segmentation and uses traditional channels to communicate with the audience (Blackwell).Download full Download Microsoft Word File
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TOPIC: Research Proposal on Brand Manager Spend the Bulk of Promotional Assignment

The marketing of experiences takes a more modern approach to the filed of interacting with the customers. Also known as marketing of experience, event marketing or experiential marketing, the discipline takes a novel approach to the consumer and strives to integrate him in the corporate endeavors. The most eloquent example in this instance is given by the development of interactive advertisements or the creation of websites which allow clients to directly contact organizational representatives. Omar Khalil and Talha Harcar (1999) assimilate the experience-based marketing with modern marketing and argue that the techniques "seek ways to build long-term relationships with customers by treating them as specific market segments." deeper look at traditional and experience-based marketing techniques will reveal several differences. The list of distinctions is rather wide, but a most eloquent analysis has been conducted by Amy and Jeanine Levinson (2007). In this order of ideas, traditional marketing requires significant financial investments, whereas experience-based marketing requires efficient financial investments. This leads to the conclusion that traditional marketing is mostly available to large size companies, which generate high levels of income. Event marketing on the other hand is also available for "companies with big dreams but tiny budgets" (Levinson and Levinson). Then, traditional marketing will assess its success based on the growth registered in terms of sales, whereas experience-based marketing will focus on overall performance in terms of profitability. Relative to their basis, traditional marketing is based on numbers and statistics, whereas interactive marketing is based on the laws of human behavior. Traditional marketing supports the growth model based on the addition of more individual customers; experience-based marketing will support companies' growth strategies through four simultaneous actions: "enlarging the size of each transaction, engaging in more transactions per sales cycle with each customer, tapping the enormous referral power of each customer, and growing the old-fashioned way at the same time" (Levinson and Levinson).

Another notable difference between the two approaches revolves around the object of the strategies - while traditional marketing is focused on closing the sale, experience-based marketing goes beyond this and strives to increase customer satisfaction after the purchase (this generates favorable reputation and loyal customers). Finally, while traditional marketing tends to exclude technological innovations from their approach, interactive marketing will enhance its chances of success through the integration of the latest technological advancements (Levinson and Levinson).

The scholar opinion as to the usage of marketing stands is highly complex. Some academicians argue that traditional operations remain the core of the marketing discipline. Paschalina Ziamou and S. Ratneshwar for instance (2003) recognize the growing role of experience-based marketing in the introduction of new products and the penetration of new markets, but they do state that the core operations should be based on traditional approaches. The authors also conclude that, to this point, efficient comparisons between the two marketing styles cannot be conducted. Other academicians however seem to believe that the modern approach is the best way to go as the results are quick, efficient and require reduced resource consumption (Joachimsthaler and Aaker, 1997). There are however those who believe that a combined implementation of both types of strategies is the most adequate solution. Vicki Morwitz and David Schmittlein (1998) for instance militate for a joint implementation of traditional statistical models and modern marketing tools to achieving the highest levels of profitability. Similar conclusions are also found in Scott Davis and Cathy Halligan's (2002) Extending Your Brand by Optimizing Your Customer Relationship and in C.K. Prahalad and Venkatram Ramaswamy's (2003) the New Frontier of Experience Innovation.

3. Strengths and Limitations of Each Perspective primary difference between the traditional and experience-based marketing techniques is that the first is exclusively focused on including the customer in the relationship. Otherwise put, the target market is being imposed to participate in the relations. Experience-based marketing on the other hand is more interactive and solicits and encourages the customer to willingly participate by engaging him in various actions, such as visits to the internet pages of their organizations (Mcquade, Waitman, Zeisser and Kierzkowski, 1996). Such an effect was generated by Nike, when their advertisement revealed a famous athlete running into a glass; the commercial ends in tension and invites the viewer to long on to to find out the end. Similar advertisements were also aired by Schweppes. As a result then, the advantage of experience-based marketing is that it attracts the interest of the consumers and draws him towards the organizations. The limitation of traditional marketing is that it tries to feed information into the customer, without raising his interest, and the agenda is of a more persuasive nature.

Another difference between the two types of marketing techniques is given by the control each approach has over the outcome. The limitation of traditional marketing is that this control is limited. Traditional managers will simply launch their campaign and hope it works. Modern managers however manifest increased levels of control over the environment and the setting of the marketing schemes (McIntyre, 1982). As a result, they can intervene more efficiently and change the course of a seemingly failing strategy. This situation also offers information on the flexibility of each marketing style. The benefit of modern marketing is that it ensures higher levels of flexibility, whereas the traditional approach is rather rigid.

Aside object, timing is yet another element which reveals differentiated costs and benefits of the two techniques. In this line of thoughts, traditional marketing has the benefit and cost of being developed for a particular moment in time. This is a benefit as the strategy is exclusively focused on a particular task, which stands increased chances of success due to undivided attention. The disadvantage is that the marketing team might overlook other important aspects of the project at hand, and might risk getting lost in details and missing the larger picture. The situation is reversible for experience-based marketing, which might fail to properly address the small issue by focusing on the larger picture, or which stands increased chances of overall success due to this wider approach.

Another tremendous benefit of experience-based marketing is that it stimulates fruitful relations with the audience. These relations are the basis of sustained collaboration between organization and customers and represent the link to corporate success. Otherwise put, interactive market generates rich communications with the audience, loyal and satisfied customers and sustainable corporate revenues (Vandenbosch and Dawar, 2002). As it has been mentioned before, traditional marketing is centered on closing the sale, with the adjacent operations being overlooked. Additionally, modern approaches to marketing familiarize the audience with the product or service to be launched before hand (Yeung and Wyer, 2004). This increases the public trust in the respective item and generates demand for it. Traditional marketing on the other hand simply places the product onto the market and tries to persuade the audience to purchase it, instead of properly and attractively promoting and introducing the respective item.

Despite the large array of strengths and weaknesses of each type of approach, the limited space of this paper only allows for a succinct presentation of some of the most relevant features. The last element to be discussed refers to coverage. In this instance, the benefit of modern marketing is that it reaches significantly larger numbers of potential customers, regardless of time zone or geographic location. Traditional strategies have the limitation of only reaching a reduced market (Balasubramanian, 1998).

4. Making a Decision

The conclusions of the previous section primarily indicate the superiority of experience-based marketing over traditional marketing approaches. Some of the benefits of modern marketing revolve around an extended coverage, a wider look at the grater picture or the prior familiarization of the customer base with the product or service to be launched. The top benefit of traditional marketing is that it is based on actual statistics and is focused… [END OF PREVIEW] . . . READ MORE

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