Convergence Marketing Strategies
Added on 2021-05-31
9 Pages1771 Words113 Views
Running Head: MARKETING1MarketingName:Institution:Course:Date:
MARKETING2MarketingIntroduction The fact that traditional marketing alone never works in the current business environment, characterized by digital technology, (Bansal, & Prestige Institute of Management and Research, 2009), makes every marketing agency to struggle to find new conceptual bases on which to design and deliver marketing programs. Due to the rapid growth in the internet technology, marketing convergence has become a necessity organization. The fusion of electronic marketing (E-marketing) and the traditional marketing, by use of internet, has created various strategies andmarketing tools.Creating a convergence marketing campaign requires marketers to centrally put the customer in the campaign(Bhasin, 2017). Use of convergence marketing, provides an organization with practical and innovative guide for all management levels in order to balance brand-building tools with powerful direct marketing techniques. Convergence marketing ensures that all marketing goes direct. Through combining of brand and direct marketing, it strengthens the power of direct, involving both responsibility and relevance of the message, bringing about desired results (Rosen & Rosen, 2009). JB Hi-Fi, through effectively evaluating the factors sustainable for creating the desired impact on the target market, has been able to be one of the fastest growing businesses in the Australian and New Zealand markets. Evidently, this firm is always geared towards positively impacting on the environmental conditions through developing strategies that can reduce the undesirable long run impact on the ecosystem. Moreover, the company, in developing its marketing campaigns, focuses on maintaining legislative rules regarding trade, thus the 2
MARKETING3representation of the firm as a corporate citizen. This is not only an ethical marketing practice, but also, in itself helps the organization in achieving popularity in the desired markets.Marketing toolsMarketing mix It’s one of the most popular tools used by marketers in identification of the target market appropriately. It enables marketers identify those factors that can create competitive advantage inthe desired market. JB HI- FI’s marketing mix can be described as follows: Product- the organization, aiming to have maximum impact on the market, has included top electronic brands such as Microsoft Xbox, Sony and Casino products. Furthermore, it highlights its products in a colorful way to attract and get the attention of its focus market; the youth aged 12- 35 years. Price- by effectively using low cost pricing strategy, it improves its penetration in the market. The company’s slogan “Always cheapest price”, shows that it is in search of gaining competitiveprice advantage from its competitors. This helps attract customers from the intended target market appropriately. Moreover, the company’s selection of economic pricing technique has an objective of penetrating different market portions. Promotion- JB HI-FI primarily focuses on direct marketing and sponsorship programs in order to grab the attention of the potential market customers. Also, the company focuses on effectively using personal selling technique for long period customer retention. It also focuses onusing advertising technique effectively, this works to increase market popularity level. JB HI-FI 3
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