Answer to Question #271690 in Management for Kaka

Question

Parle Agro makes its entry into the dairy segment with a premium and high-quality

range of flavored milk products, 'SMOODH'. With disruption inborn in the brand's

philosophy, SMOODH becomes the only flavored milk beverage in the global market

to be available in 85 ml Tetra Paks and priced at only ₹10. Suggest a suitable promotion

mix for the new launch.

Answer 1

Discussion

The promotion mix is an element of the marketing mix. It includes advertising, public relations, personal sales, and sales promotion. Mediums used for promotion include; the Internet, television, advertisements, special events, endorsements, newspapers, and magazines. Different approaches are needed for each medium in order to be successful. A product launch is a planned effort to bring a new product to market. The goal is to make sure that everyone inside the company, the partners and target customers know about the new product. Launching a new product isn’t easy, there are so many promotion strategies and most companies end up getting confused on which way to go. Below are some suitable promotion mix for a new launch;

• Engage Regularly on Social Media

In preparation for a product launch marketing, a company should focus on growing their social media presence. Then, during the product development stage, they should engage fans and followers by sharing regular updates about the progress, and any exciting milestones they’ve achieved. If the company doesn’t keep prospects interested and engaged, they may forget about the product, or lose interest in it by the time it is actually launched. Regular updates on social media can help keep the prospects engaged, and interested in the product. Social media platforms are a great place to collect useful information for a product launch. A company can start a poll, and ask their followers questions that will be useful for the launch. They can also launch a giveaway contest before the product launch to generate buzz on social media. If the prize is valuable enough, people will be interested in signing up for the contest. Through this, the company can ramp up their lead generation efforts.

• Invite Influencers to the Launch Event

If a company is going to work with influencers to promote their product launch, they could organize an event just for them. Try hosting a product launch event attended by relevant influencers who can share the news with a relevant audience. The goal is to have them share photos and videos from the event with their followers, helping in marketing efforts. When they share their experience at the event, influencers can help build hype for the launch. Not only will their fans be engaged by the content, they’ll be intrigued to find out what all the buzz is about. They can either share their experience through live feeds, photos, or videos.

• Accept Pre-Orders

Offering a pre-order could be an excellent marketing tactic in itself. Letting existing fans pre-order, the upcoming product, its making an easy sale. But making them wait till the launch so they can start buying, its providing them with an opportunity to change their minds. Additionally, seeing lots of people pre-ordering the product could build excitement and compel others to check it out too.

• Sampling

During the product promotion process, sampling involves providing a sample of a consumer product to consumers so that they may try said product before committing to a purchase. A free sample, or freebie, is a portion of a product given to consumers in retail stores or other outlets. The purpose of a free sample is to acquaint the consumer with a new product, and is similar to the concept of a test drive, in that a customer is able to try out a product before purchasing it. Many consumer product companies now offer free samples through their websites, to encourage consumers to regularly use the products and to gather data for mailing lists of potentially interested customers. The expansion of online marketing with regards to promotional giveaways has facilitated the rise of “freebie websites” that seek to aggregate all promotional free sample offers in one place.

Reference

Dubuisson-Quellier, S. (2013). A market mediation strategy: How social movements seek to change firms’ practices by promoting new principles of product valuation. Organization Studies, 34(5-6), 683-703.