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Principles of Marketing Case Study

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PRINCIPLES OF MARKETING AES Quizlet

MINI CASE STUDY – Principles of Marketing Case Study

Background – Principles of Marketing Case Study

Point & Know app is a live music Point & Know app for the New York tourist market. The motive of this music app is to target Tourists visiting New York. The use of this app will be beneficial for them to find nearby gigs in a variety of genres.  You have to solve this Principles of Marketing case study.

There are around 60m people who visit New York every year; they are a mix of US nationals and foreign visitors. So, it is a large market for Point & Know music app to reach them by providing them the service of notifying and sharing about musical connections as well as finding out about music gigs that they might want to attend.

As Point & Know app is subscription based music app service on the basis of daily, weekly, and monthly subscription. The target customers are the USA tourists. The alliances for product placement is with google play store and istore to place the apps availability as users can install this music apps.

People from ages of (18-60) tends to visit USA as a tourist every year, and mobile phones and electronic devices are used by all of that ages groups. So, while they have a phone on hand, then it must penetrate them to listen to music and attend some music gigs around New York. In that case, Point & Know app is giving the service of best worldwide music collection to its tourist customer.

The marketing strategy will be addressed as follows:

  1. The market for music apps in USA
  2. Segmentation & Targeting; Positioning
  3. The Marketing Mix

MINI CASE STUDY Solved – Principles of Marketing Case Study

The Market

Currently in the New York there is no national music app for satisfying the tourists music needs on the basis of their geographic segmentation, demographic segmentation as well. There are some music app in google play store and istore but those are not so far remarkable to reach the large volumes of customer.  Those apps have so many limitations to serve the users.

So, now this is the right time to present the segmentation, targeting and positioning plan of Point & Know app.

Segmentation 

Segmentation is done for the purpose of selecting appropriate target markets.

Point & Know app would segment the market as follows;

Demographic Segmentation

  1. Age (18-60)
  2. Gender (male and Female)
  3. Income (Middle to High Income Level)
  4. Location (From any country like CANADA, UK, INDIA, AUSTRALIA, etc)

Psychographic Segmentation

Behavioral Segmentation

Geographic Segmentation

Targeting

Targeting refer to focus on the activities towards segmented consumers.

Here, Point & Know app would target the 60m people who visit New York every year where the demographic, psychographic and geographic factors will play a great role to targeting those tourist to attract them towards the music app.

Positioning 

Positioning is the demonstration of key benefits and features, and offerings of the specific product.

Here, Point & Know app would position the target people by featuring different kinds of offerings as follows:

Marketing Mix 

Product 

Here, for developing the product of Point & Know music app, it is recommended to design the music lists and services as per the target customer who are basically tourists.

Price

It’s important for Point & Know music app to consider what tourist of USA would like to listen the music and checking for music gigs from this music app.

Place 

Placement planning is required for developing a suitable marketing channel.

Promotion 

Promotion implies the best use of MARCOMM tools to deal with product advertising, personal Selling, sales Promotion and direct marketing.

So, when the target market is USA tourist people, so, it could be easily determined that the most of them are engaged in digital platform.

Conclusion

So, the music app could reach the huge number of tourist if all the above marketing strategies are followed properly.

Gantt chart

MARCOMM Tools

There are many different types of MARCOMM tools, including advertising, sales promotion, public relations, direct mail and even sponsorship. Most companies use a combination of these various tools.

Advertising

Advertising is a highly prevalent marketing communication tool. Advertising can be used to efficiently get a company;s message to large audiences. Companies can use a number of different types of advertising, including magazine, newspaper, radio, television and even Internet advertising. The most effective usually follows the general formula of AIDA (attention, interest, desire, action).

Sales Promotions

Sales promotions are another effective communication marketing tool. Sales promotions can include product demonstrations, contests, displays, free samples, premiums like buy one/get one free; coupons and other types of incentives. The goal of a sales promotion is to spur short-term sales by increasing awareness of a brand. Ultimately, a company strives to build repeat business with a sales promotion.

Public Relations

Public relations is a communication marketing tool that helps a company ensure a positive public image, according to managementhelp.org, one of the world’s largest online business resources. The goal of public relations is to help consumers better understand a company and its products. Public relations can include public appearances like interviews, press releases and even the sponsorship of major sporting events.

Direct Marketing

Direct marketing is another highly effective communication marketing tool. Direct marketing can include mail and email promotions, catalogs, and even direct response promotions on television and radio. For example, most cable shopping programs are using direct marketing to sell their products.

Personal Selling

Personal selling is another highly pervasive communication marketing tool. Companies have both inside and outside sales reps to market their products to consumers and businesses. One advantage of personal selling is that it offers two-way communication. The customer can ask questions about a company’s products or service, then make his decision to buy. However, sometimes it can take multiple contacts to make a sale, especially for higher-priced items. Many people engaged personal selling of their own home made product by sewing of different patterns.

Principles of Marketing Case Study prepared by:

Written by

Md. Shadequr Rahaman

Email: circlebiz96@gmail.com

Principles of Marketing Case Study
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