The growth observed in Graves Enterprise is as a result of efforts in all areas. Growth in the enterprise is to a tune of 150%, which is considerably good. The floor care products business unit is has also showed a considerable growth. Despite of the growth observes, there is a need to put more effort to gain bigger share in the market and have a considerable growth. The area that is recognized as needing more effort is that of developing the consumer product area. Concerted effort in marketing is recognized as the area that can bring greatest advantage to this effort. A communication marketing plan is needed to foresee marketing of consumer products.
Marketing director in consumer product has proposal on a marketing communication strategy. A comprehensive television and print advertisement is proposed. In print advertisement, it is proposed that the company should buy space in Good Housekeeping magazine and also secure a seal of approval with the magazine. The estimated cost in this method is $25 M. The other strategy is to use co-cooperative advertising with an estimated cost of $1 M. To increase immediate purchase by comparison shoppers, an on-package instant coupon is proposed. A trial size that would be used with new installation is also proposed so as to promote new products from the company. An integrated public relation is also needed to create a good image for the company and its products.
Television and print advertisement could lead to sale of one million additional units at $2 profit per unit. Co-operative advertisement is also estimated to increase sales by two million units, on-package coupon may raise one million additional units while trial size 200,000 unit. In totals, more that three million additional units will be sold. This will also increase products uses and cement the position of the enterprise in the market.
The good growth progress observed in the company is a fruit of concerted efforts from all stakeholders in the company. To cement the growth, there is need for increased effort in marketing communication. The image of the company and consistency of marketing is very important in marketing communication in this company. To achieve greatest advantage from marketing communication at a reduced cost, an integrated marketing communication strategy is proposed. This approach will integrate the available marketing communication to get an optimal result (Yeshin, T., 1998, p77). Marketing strategies to be integrated in the marketing communication includes, print and television advertisement, co-cooperative advertising, on-package instate coupon, trial size and public relation.
This method will be advantageous to the organization. The integrated method will have higher reach than any independent method (Yeshin, T., 1998, p76). A consistent communication message with be developed leading to growth in the brands of our products and the company. The integrated communication across the varied media will be able to create a higher number of attentions.
The method will incorporate both commercial and consumer products of the company to attain an overall growth of the company. Various resources and an initial cost are needed for this communication but in the overall, the advantages will out-do the cost. As advised by the financial advisor, the break even of an integrated plan would be two year, which is not a long period for such an important step.
For success in marketing communication, planning is very essential. Planning marketing communication should entail understanding the nature of a business, the objective of communication, cost, time and the expected result (Yeshin, T., 1998, p124). An integrated marketing communication approach evaluates all factors and come up with a communication strategy that incorporates various marketing communication strategies to ensure consistent message.
Reference List
Yeshin, T. (1998). Integrated marketing communications: the holistic approach. New York: Butterworth-Heinemann.
Winer, R., (2006). Marketing management. New York: Pearson Prentice Hall.