Dominos Pizza: Considering Your New Target Market (Choose A Target Market) And Any Modifications, New Product Line Extensions Or New Products You May Have Developed To Serve The New Target Market Needs, Create Your ‘Big Idea” To Be The Basis Of The Message Strategy For All Your Marketing Communications.
Principles of Marketing
Part 1: Integrated Marketing Communications and the Changing Media Landscape.
Integrated marketing communication ensures that any communication from a business are linked to the company in one way. This will allow every tools of promotion that are going around to communicate the same language. The ultimate goal for this is to remain consistent in your communications to help in taking steps through the funnel journey of sales.
Integrated Marketing Communications for Domino’s Pizza
ALWAYS AT YOUR DOOR STEP!!
Domino’s pizza is located near a university environment. My new target market is the students from the university. Most of the customers have been complaining because of delays in delivery and we are making our services more efficient by enhancing a fast delivery. The students at the university also seem to be so busy that its only through delivering to them that they can access our pizza. This is our big idea that will be the basis of our marketing strategy for all of our marketing communications.
Marketing Communication Objectives
AIDA is an acronym and stands for Awareness, interest, desire and action. According to Schivinski & Dabrowski (2016). Through this model one is able to identify the cognitive stages that an individual goes through when in the process of purchasing products and services. It is a buying funnel where the buyer passes through after each stage in order to make the final purchase.
By use of this model, the first marketing communication objective is to make sure that 75% of your target market know the benefits of your product. Through this objective, most of the customers that you are targeting should be aware of what your product is offering that is different from what your competitors offer. The second marketing communication objective is to make sure that you are creating interest through having at least 25% of your target market customers coming in and engaging with your sales personnel. The third marketing communication objective is to get not less than 20% increase in number of customers from the targeted market from next month.
Promoting a product is very important since it creates a lasting impact on the clients. Promotion mix is solely a combination of what is involved in promotion and how well and effective is promotion done. Andrews & Shimp (2017) asserts that promotion mix is involved with personal selling, advertising, sales promotion, public relations and direct marketing. When a good promotion mix is employed, a business will continue gaining more customers and will succeed both in short and long run.
The marketing communication objectives that dominos want to achieve will assume a pull strategy in order to promote their pizza. For the first marketing communication objective dominos will advertise in form of television ads and online advertisements. The ads will be focus on the benefits of ordering for a pizza from dominos and the efficiency of our delivery services. The website of the company will be offering in details on the same information. To achieve objective two, dominos will send mail advertisements to the target market by offering special deals and deliveries in shortest time possible. To achieve marketing communication objective three, the salespersons from dominos will be sent to the target market to engage customers one on one and answer questions.
The strategy will involve heavy promotions which will include both push and pull strategy. In the push strategy, dominos will use advertising and sales strategies and will invest very heavily on the traditional advertising. The push strategy will involve the use of animation which will appear always in between the Morning TV National News. Use of social media such as twitter, YouTube, Facebook and Instagram will help to build and maintain an online presence and create a good relationship with consumer who are mostly students who use these social media.
Part 2: Special Topics in Marketing
B2B marketing means business -to-business marketing and is involved with sale of one product of a company to another company. Kleinaltenkamp (2018) says that the technique employed in B2B marketing rely on the principle that consumers do not choose products on the basis of price but popularity, status and other factors that can trigger emotions. It is involved with building of good relationships to maintain a lasting streak of customers which is the aim of any company.
According to the style of offering services of dominos, the company should involve themselves with food services and delivery markets. This is because the company is in the food industry and delivery industry. These kind of markets will be involved with consultative selling approach by partnering with customers in order to help them solve problems and meet some business goals.
Segmenting B2B Markets.
To satisfy the needs of the people and make profit in that process, is the main aim of marketing. Nonetheless, the needs of the people differ and trying to satisfy these needs requires different approaches. It is important to identify these needs and be able to know the differences that exist between these groups of customers. There are four types of market segmentation which includes demographic segmentation, behavioral segmentation, psychological segmentation and geographical segmentation.
Dominos can adopt the demographic segmentation type of market segmentation. this will get the right population using its products. Since the target market is mostly students, demographic segmentation is the best to apply here.
Marketing Information Systems
Bohari (2011) says that there are different types of information that a company is supposed to use in a comprehensive marketing information system for decision making purposes.
Internal company information is one of the information needed. The strength and capability of the organization to expand is looked at. It is important for managers to analyze the internal information of the company to determine where the company stands by itself. Purchase reports, sales report, costing and margin reports are important determining the internal company information.
Marketing intelligence is another kind of information which a business needs. It involves the overall demand in the market, the potentiality of the market and the competitors present in the market. Internal sources from customers, sales persons, suppliers and distributors. Intelligence in the market is important in understanding the daily changes that occur in the environment of the business.
Market research helps the manager know what the customers want. A research from market and consumers will be needed in order to know which way to approach the market. Being in touch with the end users of your products helps the producer to know what the customer wants. Predicting the trends in market will allow the managers come up with the right marketing plan.
For any business to be successful, metrics makes a good foundation. with the rising number of options and strategies in marketing, many companies and marketers should stay ahead of their competition. Farris et al., (2017) says that in order to be able to formulate a good and effective strategy, it is important for accompany to be conversant to critical metrics and their formulas.
In financial marketing metrics, cost metrics is very essential. This types of metric allows the managers to calculate the return on investment from the marketing. According to the marketing mix strategy mentioned above, the manager is able to know how much it would cost to produce an email for any direct mail campaign. How much time it takes and the money it generates. This will be very crucial for the growth of the company.
In performance metric, use of conversion per impression tactic is important. This shows the ratio between conversions and impression. Every time you display your ad; it is the chance for conversion. After the readers click your ad, conversion is shown by the measure of the impressions. This will also help in eliminating the price that the company will be paying for any click to increase or decrease the traffic.
Calculation – Conversion/Impressions
This is important to use in order to know which ad leads to many conversions. By use of this metric, it is possible to increase the daily budget and also determine which ads are better than others and this will give you a chance to create a variation between these ads.
Revenue per click (RPC) is another metric to apply in in a business. This shows how much money you make per every click on the ad. This allows one to know which campaign and ad is making profits and the ones that need to be improved.