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Ad Plan: Geoplex Watches
  Term Paper ID:27206
Essay Subject:
Details the approach that hypothetical company, Geoplex, has taken in selling its $15,000 upscale chronometer with a Global Positioning Satellite transponder embedded in it.... More...
10 Pages / 2250 Words
6 sources, 6 Citations, APA Format
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Paper Abstract:
Details the approach that hypothetical company, Geoplex, has taken in selling its $15,000 upscale chronometer with a Global Positioning Satellite transponder embedded in it.

Paper Introduction:
Executive Summary The advertising plan below is based on the marketing plan for Geoplex watches, which detailed the approach the manufacturers of the product, a $15,000 upscale, GPS locating chronograph (wrist watch) have taken to sell this watch to the upscale target market described below. There are two major advertising objectives. The first is to position the Geoplex as a "must-have" product on the upper scale of the Kim-Lord purchase decision grid. The second is to create sales messages that motivate the target consumer to the desired action (purchase). The advertising strategy detailed below consists of several parts: identification of target market and customer; selection of media to reach that customer; media messages that will reach that

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Therelationship between the targeted consumer and the target market ranksbetween the 85th and 92nd correlation percentiles of most measurementindexes.Benefits Sought By this Target Comprehensive research on this target reveals important data about thegroup. A frameworkfor conceptualizing and measuring the involvement construct in advertisingresearch. Creative StrategyAdvertising Concepts All advertising efforts have been planned and strategized toward theend goal of positioning, which is of key importance in any campaign. Arora, R. That is to say, if a personwere to be asked to name seven laundry soaps, only one out of fifty wouldbe able to complete the task. (1988). Because ofthat fact, there is no sales history, no established consumer selectionprocess, no distribution method established, no pricing strategies, noimplications of marketing research, and no communications history.Target Market Description The market segment targeted for the Geoplex is executives ofmultinational corporations. Psychographically, the Geoplex customer will be motivated by thedesire to be exclusive, to own items of rare excellence, and are willing topay the price. This person is highly educated (one ormore graduate degrees) travels at least 22 times a year, uses on a regularbasis six or more credit cards. The testing cost, including the necessary research to develop newtesting matrixes for effective analysis of the upscale market is estimatedat $25 , and has been planned as an ongoing process. The Advertising Budget The budget is predicated on potential sales. The first is to positionthe Geoplex as a "must-have" product on the upper scale of the Kim-Lordpurchase decision grid. Higie, R.A. Behaviorally, the Geoplex customer is active, travels 2 times or more a year on business, is willing to take risks, and feels theneed to be in instant communication with his perceived empire.Marketing Objectives There are several need-satisfying objectives inherent in thiscampaign; many of them based on a study of past purchase behavior of ourtargeted market. This person has anaggregate income (before benefits or options) in excess of $2 , and anet worth of minimum $1 million. 28: 38 (23). 84 percent awareness of Tertiary (Non-buying) Market in 24 days. * Selected television and radio stations that appeal to upmarketfinancial viewers and listeners will be utilized for a series of shockimpact video and audio announcements of the "teaser" variety (see samplesin Appendix). Purchase behavioris a quadratic expression of this pyramidal structure. (199 , October). Thisbudget covers activities related to message creation, media purchase andplacement, and costs for testing. Initial studies done of the Geoplex concept shows that test marketedexecutives exhibit a strong purchase decision utilizing the traditional andmodified versions of the Kim-Lord, ranking in the upper sextiles of boththink and feel purchase decisions (Putrevu & Lord, 1994, 77-79).Target Market Analysis Since the success of Geoplex depends part and parcel on the accuracyof its market research it is important to state its overall philosophy.First, abstractions are avoided. Craig, S.D., & Syed, H.A. & Feick, L.F. The analysis includes consideration of the advertising budget. Other quantifiable measuring systems to determine the success of thisplan in meeting stated objectives. A categorization survey has been doneon a select Nth sample from the Platinum card database, and there has beentabulated a 61 percent consumer response from the targeted audience.Media Considerations Exhaustive analysis has gone into the determination of the mediaselected for this campaign, opting for the quality of reach instead of thequantity. These conceptsare amplified in the next section. The targeted age will be 34 to 54 in each country. Usewill be made of the "seven-step" retention theory developed by DavidOgilvy, who pointed out that the human mind is typically capable of onlyremembering seven classes of any category. Predictive media mix, therefore, for the Geoplex consists of thefollowing: * Print media: 23 magazines out of the some 3 , available worldwidehave been chosen for their matching qualities of our requirements. An estimated 1.7 million potential customers of the Geoplexwatch exist in the 23 countries targeted by the research analysis. Thefirst of these is to create an aura of mystery, of power, of exclusivity,and of scarcity. New scales for enduring involvement with aservice and situational involvement with a service or product, as well asnew or refined scales for involvement with advertisements, are needed.More empirical testing of relationships between antecedents of involvementand forms of enduring involvement and between forms of enduring andsituational involvement would add to the knowledge of how the personalrelevance and effectiveness of advertising can be increased (Day, Stafford& Camacho, 1995, 72; Arora, 1982, 5 7-9; Davis, 1994, 391-4 2). Provo, UT: Association for Consumer Research, 69 (6). Empire, because its unique reach, will be utilized as the backboneof the print media. 19:4 27(13). Journal of Advertising. Ethics in advertising decisionmaking: Implications for reducing the incidence of deceptive advertising.Journal of Consumer Affairs. 19: 5 5(11). The second positioning challenge is to wage the battlefor space in the consumer's mind by using a sophisticated series ofcommunication tactics that are part of a longer-range advertising strategy. Aston-Martin, for instance, ran an ad for a vehicle with a price tag of $234, and sold 62 from one ad.Advertising Message All messages created for this campaign will be of two kinds: short,emotive, power messages where the connection betweenleadership/position/wealth is directly visually, and emotively connected tothe target audience; and long-copy informative ads dedicated to explainingthe rationale why a $15, watch is not a luxury but a necessity. As stated in themarketing and distribution plans, the cost of manufacture, distribution,service and general overhead totals 28 percent ($15, retail price X 28%= $1 ,8 net per unit), generating net revenues before advertisingexpenses of $5,5 8, . Long and short-termsales target objectives are these: the introduction of the Geoplex watchwill achieve targeted sales projections as discussed in the marketing plan. Most of the proposed frameworks willfocus on the effects of some form of situational involvement on advertisingeffectiveness measures, such as processing of ad content or attitude towardthe ad. Nortel Inc. There are two major advertising objectives. Its primary point of uniqueness is that italso includes a miniaturized transponder that stays in touch with GPSsatellites giving the wearer an instant geographic location anywhere onearth at any time. Empire, for instance, only publishes 55,413 copies per month,since that is the exact number of persons listed in Burke's Peerage, acompendium and directory of the various levels of living nobility and/orroyalty in the British empire, Europe and other areas. If utilized correctly, and if all variables function aspredicted it is assumed that this plan, which will operate in a three-phaseawareness cycle , will achieve the following results: Phase 1. Thosemagazines include: Leaders, Departures, Town & Country, and The RobbReport. In otherwords, once the dominant influences on decision making are identified it isthen possible to develop programs that: 1) establish or reinforce thoseinfluences which lead to decisions in the consumer interest; and 2) reduceor eliminate those influences which lead to decisions counter to theconsumer interest (Andrews, Craig, & Syed, 199 , 31-27). Secondary markets will be found amongpeople who want to give the impression that they are members of the primarytarget market. 23 77(2). Davis, J.J. Anappendix shows three methods of putting this research into action with asample print ad, a sample radio spot and a storyboard. Of the 1.7 millionpotential customers mentioned above, it is predicted that within the firstyear of marketing, 3 percent, or 51 , leaders will make a purchasedecision, resulting in gross sales revenue of $7,655, . Validation of an S-O-R model forsituational, enduring, and response components of involvement. Enduring involvement: Conceptual andmethodological issues. One never launches an advertisingcampaign without having a pretest and afterwards a post test to determineif the needs and wants of the target market have been met (Higie & Feick,1988, 693-4). Putrevu, S. The advertising strategy detailed below consists of several parts:identification of target market and customer; selection of media to reachthat customer; media messages that will reach that consumer; and pretestingand posttesting of those messages based on a variety of scales. (1995, September 1).Opportunities for involvement research: A scale-development approach.Journal of Advertising. &Lord, K. The efficiency of these media to reach the desired target isincredible. (1994, December 22). First of all, the price of a consumer object is less of aconsideration than uniqueness, quality of manufacture and innovation.Furthermore, the target market exhibits little brand loyalty, and isconstantly evaluating product purchases based on intrinsic internal needs,many of which are impulse-oriented. All inquiries will be qualified byrequesting customer to state the exact need he has to see if he isqualified to buy watch. From that study, we know that the potential Geoplexcustomer is possession-oriented and needs the feeling of exclusivity thatthey do not find in a rapidly democratizing world. The watch is a multi-function chronograph that recordssimultaneous time in six zones. This will be a campaign of elitism, and structural behavior responsemodification. Sincethis puts the customer in a tiny percentage of the normal consumer ranges,print, television and other media have been selected to reach only thisaudience. Testing and Evaluation A variety of involvement frameworks will be used to pre-test and post-test Geoplex's advertising results. This implies two positioning challenges:first, to make sure that when the category "upscale luxury watch," isasked, that Geoplex take its place alongside Piaget and Rolex, the main twoprice competitors. (1994, June). In quantifiable terms, the advertising objectives are stratifiedwithin the advertising pyramid: Geoplex will utilize cross-quantifiedbehavior/motivation/response structures to enter the pyramid at the higherlevels of awareness (Andrews, Craig, & Syed, 199 , 29). References Andrews, J. He must be qualified, both in terms of character, attitude, andconsumer behavior. Comparative and noncomparativeadvertising: Attitudinal effects under cognitive and affective involvementconditions. The second is to create sales messages thatmotivate the target consumer to the desired action (purchase). To achieve this, all advertising messages will hint atthe benefits of the Geoplex watch. 24:69(7). A unifying theme running throughout the copy, its positioningstatement will be "Geoplex...the Privilege of Power." The radio spots willamplify this concept, again positioning the elite nature of the watch. Journal ofMarketing Research. The primary market for the Geoplex ispredicted to be the executive in upper echelon management who hassufficient discretionary income to afford the $15, price tag thatGeoplex will enter the market with. In other words,this is not a purchase, it is an investment, an investment that sets thewearer apart from the run-of-the-mill, assures that he is a world leader. Media purchases, production costs andmiscellaneous sales costs are estimated to be $2,334,619 (which also allowsfor a 1 percent cost overrun). Day, E., Stafford, M.R., & Camacho, A. Chapter in Advances in Consumer Research, 16,Srull,T. The target market will be found in major cities of NorthAmerica, South America, Europe, Asia, Australia, and the Middle East.Demographically, the targeted individuals will earn 2 , or more peryear, have a net worth of more than $1 million, have graduated from a topschool, and will have been involved in the business world for more than 1 years. TheTV commercials will break away from this concept and go more for a visualmontage effect, again reflecting, however, the position of power, and allwill feature subliminal power acceptance and recognition symbols. In a nutshell, this customer matcheswithin 74 percent variation, the profile established by American Expressfor its potential customers of its "sky's the limit" Platinum card. Situation Analysis In this condensed review of product information presented in themarketing plan, it will be remembered that: A. (1982, November). However, to increase the effectiveness of the direct and indirecteffects of involvement on variables of interest to Geoplex executives,further scale development is deemed necessary, and will be developed aspart of the testing program. Ad response will be measured using various matrixresponse systems, including the Krieger Analysis, Customer Analog Analysis,and Dipping Sincerity Analysis (Created by Doyle, Dane, & Bernbach). This will provideessential information for the Geoplex management to identify, examine, andmodify plans based on knowledge of causal antecedents such as perceivedrisk and behavioral outcomes based on the target market's cognitiveprocessing. Ads are sold byfull page only, at a non-negotiated cost of 1 , British pounds. ed. That said, the targeted potential customers for Geoplex is male, 29 to55, and serving either as a top manager (regional or above) in a companythat does business in at least three countries. Print will be the main vehicle of advertising message dissemination.All of the print ads will reflect instantaneous realizations of perceivedideals. Journal of Advertising. Consumer Awareness Indexing: 42% target market awareness in12 days; Phase 2. has obtained the exclusive American marketing rightsto a digital quartz wristwatch manufactured in Hong Kong that uses solarenergy to run. Not just any customer can walk into any store and buy theGeoplex. The watch, tentatively named Geoplex is in the introductory phase ofthe product life cycle since it has not been manufactured yet. The ideal means for altering an individual's behavior is to firstidentify the factors which exert the greatest influence on decision makingand then develop programs, communications, or activities that specificallytarget, or at minimum recognize the existence of, these factors. 57 percent awareness of Secondary Target Market in 18 days; Phase 3. Executive Summary The advertising plan below is based on the marketing plan for Geoplexwatches, which detailed the approach the manufacturers of the product, a$15, upscale, GPS locating chronograph (wrist watch) have taken to sellthis watch to the upscale target market described below. After those are met short term, the long-term strategy involves using theexisting Geoplex customer base as a launch pad for other Geoplex products.The marketing mix for the target market will be discussed in detail in themarketing plan. Advertising Objectives The objectives of Nortel's advertising of Geoplex are several.

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