Voice Lecturer Recorder

Questions: Explain how you plan to/already use marketing in your business; what message do you want to get across that will help build a brand? What marketing activities will/do you use? E.g website, leaflets, business directories/magazine, social media, PR? Why is this the appropriate method/s for your target market? What budget have you set for Marketing? Include details on timescales in which you intend to carry out each activity and which are priority; provide details of costs too. How will you monitor the success and efficiency of your marketing strategy and activities? What will you put in place that will help you ensure customer retention? Answers: The company has launched a new product known as the Voice Lecturer Recorder. The product will help all the students for their educational purposes. The product Voice Lecturer Recorder will help the students to record all the lectures given by the teachers in the school or in colleges. If the student misses any lectures given by their teachers can be recorded in the voice recorder and can listen to the lectures given by the teacher after the lecture gets end. This product is very essential for the students and will help the students (Kurnit and Lance, 2009). The product is very helpful for the student because the lectures of the professor can recorded by the product and listen the lectures later on. The product is very small in size. The student can carry the product anywhere they want to carry. If the company can explain all the benefits of the product then the brand value of the product will increase (Mahar and Mahar, 2009). Brand Recognition Strategy of Voice Lecturer Recorder: Promotional activities will be used as the brand recognition strategies of voice recorder. The promotional activities like collage campaign, demo, etc will be used to discuss the benefits of the voice lecturer recorder. It is noted that the voice lecturer recorder has plenty of benefits like the battery consumption of the product is very less. In order to enhance the brand reputation, following strategies will be followed: Specified the target market University student; Positive perception comfort and stylish; Brand consistency advertising; POS materials slogan; Marketing Activities: The different marketing activities are website, leaflets, business magazines, social media and by distributing the leaflets. According to the research analyst the product should be known to each and every student and the student should know all the benefits of the product which will help the company to sell the Voice Lecturer Product (Wood, 2009). Mainly the products marketing activities should be given in the social media site. This is because the students are always busy in the social media site. This will help the student to know about the product knowledge and the importance of the product (Munro, 2009). Budgeting Activities in the marketing: One of the marketing activities of the product is social media site. The cost incurred for advertising the product in the social media site is $ 500. Another marketing activity of the product is distributing the leaflets in different college premises. So, the cost incurred for printing the leaflets is $ 1000, the cost of the paper for leaflet is $ 100. The leaflet will be distributed in the college premises by two persons. Hiring the two persons for distributing purpose will cost $ 20 per day. They will distribute the leaflets for one week. So, the total amount of money paid to the distributor is $ 280 for both the persons. The total cost incurred for marketing activities is $ 1900. Monitoring the Marketing Strategy: The firm should explain the benefits of the product to the students by explaining the student that how this product will be useful for the daily life of the student. The cost price of the product should be less in the beginning. The company should earn a very less amount of profit by selling the product. After explaining the usefulness of the product and by understanding the market condition of the product, the company should increase the price of the product (Kerin, Hartley and Rudelius, 2009). Customer Retention: The following steps should be taken by the company for the customer retention strategies are: a) Reducing of erosion. b) Communicate frequently with the customers. c) Amazing services to the customers (Kerin, Hartley and Rudelius, 2009). References: Bly, R. (2009). Marketing plan handbook. [Irvine, Calif.]: Entrepreneur Press. Chernev, A. (2009). The marketing plan handbook. Chicago, IL: Brightstar Media. Choudhary, R. (2009). Policing. New Delhi: SAGE Publications. Hiam, A. (2009). Marketing for dummies. Hoboken, NJ: Wiley Pub. Kerin, R., Hartley, S. and Rudelius, W. (2009). Marketing. Boston: McGraw-Hill/Irwin. Kurnit, P. and Lance, S. (2009). The little blue book of marketing. New York: Portfolio. Mahar, S. and Mahar, J. (2009). The unofficial guide to building your business in the Second Life virtual world. New York: AMACOM. Munro, A. (2009). Structures for strategy. Garden City, NY: Morgan James. Wood, M. (2009). The marketing plan handbook. Upper Saddle River, N.J.: Pearson Education.