Strategies of Marketing Communication

Added on - 22 Nov 2020

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MARKETINGCOMMUNICATIONS
Table of ContentsINTRODUCTION...........................................................................................................................3PART 1............................................................................................................................................3Range of products provided by company & profiling of a specific product...............................3Marketing Communication Tool.................................................................................................4PART 2............................................................................................................................................8Marketing communication plan..................................................................................................8SOSTAC Framework..................................................................................................................8STP............................................................................................................................................14Product Life Cycle Management Plan......................................................................................14CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONMarketing communication is a strategy used by business organisations to promote theirproducts & services in market. This technique is also applied by companies in communicatingdetailed information related to features & benefits of products in target market so that customersget attracted. Objective of marketing communication is to enhance customer base & brand imageof company by conveying products. This report includes an overview of product line of Lexus.Further, this report gives details of a specific product of company which is Lexus UX250h.Furthermore, this report explains different types of marketing tools used by brand and theirfeatures, characteristics & effectiveness. Moreover, this report elaborate segmenting, targetingand positioning theory of marketing. Further, this report includes a strategic marketingcommunication plan. Furthermore, this report critically analyse various strategies of marketingcommunication. Moreover, this report explains effectiveness of strategies of marketingcommunication.PART 1Range of products provided by company & profiling of a specific productLexus is a multinational company which offers Luxury Vehicles and PerformanceVehicles in 70 countries across the globe. It is the 10thbiggest Japanese Company in auto mobilesector. Company has its headquarter in Nagoya, Japan and it is also has its operational centres incountries like Belgium, Brussels and United States.Lexus does marketing of its products &services in more than 70 counties across world with this it becomes Japan's largest selling auto-mobile company. It is sub a division & a brand of Toyota(Witten and Pal, 2016).Lexus includes wide rand of models in its portfolio such assedan, SUV,coupé andconvertible. It also introduce sports car in 2007 and company launches wide range of innovativemodels in all of this categories like Hybrids & F models which includes RX 450h, HS 250h, GS400 & FC 400. Sales volume of Lexus is increasing day by day which shows that marketing ofits products are very high.For enhancing profits and customer base of company in 2019 it is launching Lexus USwhich maximises its productivity & performance as Lexus is launching this product by replacingit with CT Hatchback which is not liked by customers. UX25h is more powerful car with 143horsepower antinkson cycle thus, its is the fasted product launched by Lexus. Organisation is3
launching this product in market for young generation thus, its target customers are youngstersand target market is streets of European City. Because this car is small, suitable for city streets,having innovative features and luxury. Thus, Lexus is focusing to invest in marketing of thisproduct to enhance its sales volume(Yasmin, Tasneem and Fatema, 2015).Marketing Communication ToolFor enhancing sales volume, market share and customer base of company's new productLexus use various types of marketing tools. Marketing tools are elements through which firmspromote its products & services and creates awareness about companies product in individuals.These tolls are also beneficial for Lexus in building relationship with its customers. Marketingtools also helps companies in establishing effective communication, Company use different typesof marketing tools for the marketing of UX250h, which are discussed below-Sales Promotion-Sales promotion is when organisation use different strategies such asincentives, discounts,coupons and attractive schemes to retaining its customers. Lexus promoteUX250h by offering free taste drives to its customers and it also provides discountsuch as 5-10% , this is a characteristics of this marketing tool. Company use this marketing tool with themotive of enhancing sales of its new product. For this Lexus also influence customers to buy itsproducts by giving advertisement related to features and discounts through banners, glorifiers,wobbler's and newspaper.This marketing tool used by Lexus is effective because with this customer can getexperience and it is easy for customers to make decisions related to purchase of car. It is alsoeffective as it helps customers in differentiating features of UX250h from other brands.On the other hand, Sales promotion is a short term marketing strategy thus, it is notbeneficial for Lexus in long term. This tool is not effective in maximising revenue of firm.Advertising-It is the most efficient and effective marketing tool which helps firms inpromoting and enhancing their brand image. Features of this marketing tools is it createawareness of product among customers and it is to be given to many places at a same time whichrequires less time & effort. Characteristics of advertisement one advertisement related toUX250h can used in many places and it requires huge investment. Because, Lexus advertise thisproduct through various sources such as radio, print media, television and social media.4
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