Smart Mask Marketing Mix Strategy
-Product/Service Strategies: Define your service/product features and benefits and performance characteristics versus competitive products. How does the product/service fulfill the value proposition? What product/service changes are you recommending? What attributes do you want to add/delete to your product/service? What do you recommend in terms of changes to package design, logos , and/or brand identity? This may include the service promise, including any customer service and warranty information. What new products/services do you want to launch under your current brand name? Provide rationale for your choices.
-Branding Strategy: Compare the brand knowledge and brand meanings that you want consumers to know about your brand (your brand identity) with your existing brand image. How will your existing brand enable and constrain you as you address your critical issues? If it is an entrepreneurial venture, how will you build and establish your brand?
-Pricing Strategy: Outline your pricing objectives and explain how they relate to your financial and marketing objectives. Estimate your cost of goods sold and calculate total revenue, total costs, and grow profit margin. Explain and justify your pricing strategy (see chapter 11 of the text).
-Place Strategy: Define your distribution strategy. What channels will you use to sell your product/service? Why? Provide rationale for your choices. Define your selling approach. What selling message will you use to persuade your channel partners to carry your product. If selling directly, what is your sales message?
-Promotion Strategy: Outline your integrated marketing communications (IMC) objectives. Design promotion programs to communicate your marketing message to consumers. Discuss if/how/why you will use the following promotion tactics: advertising (TV, print, radio, outdoor, Internet), consumer sales promotions (displays, price promotions, gift with purchase, sweepstakes/contests), event marketing/sponsorships, public relations, trade shows and conference participation, direct marketing (mail, telephone, email), internet marketing and social media programs and other forms of communication. How will the customer receive information about the product? Be specific about what role each medium will play in the strategy and fulfilling the overall marketing objectives. What is the recommended timing and frequency of the marketing communications plan? How much will you spend on marketing communications? NOTE: The key to effective marketing communication is consistency across all media.
Marketing Mix Strategies
Marketing Mix Strategies
Marketing strategies are the foundation of creating awareness, interests, improving customer engagement and closing new sales. The marketing strategies will be used by Smart Masks to increase the market share as well as encourage loyal clients. Therefore, Smart Masks will rely on the Marketing mix strategies which include the product plan, place approach, branding strategy, pricing strategy and promotion strategy. These will create a unique blend of the right product, suitable distribution approach, promotion methods as well best price to win the market.
Product/Service Strategies
SMART Mask has introduced the first generation of masks of its kind. The SMART Mask has reusable, eco-friendly and fashion forward that has a leading edge filter technology with an activated carbon filtration. SMART Mask will manufacture different categories of masks such as medical masks, surgical masks, cloth face masks, and filtering face piece respirators such as FFP masks and N95 masks. Smart Mask will have an information website with a logo that has linked the information of the products to the buyers. The service innovations are aimed at covering a larger customer services and products that engage with different consumer groups.
Branding Strategy
SMART Mask will rely on Name Brand recognition to create awareness. SMART Mask has a memorable name as well as a versatile logo that will help in developing the brand. The company will develop a labelling and packaging system that will communicate SMART Mask message. The main aim is to ensure that potential customers instantly recognize the product without requiring much effort. SMART Mask will brand the masks with the company logo to increase the awareness of the consumer. The branded face masks also be used to convey messages to the people such as “stay at home”. Smart mask will also brand masks for other companies that are willing to rely on face masks in promotional campaigns. This will include branding masks with the company logos to help brands in increasing their sales.
Pricing Strategy
SMART Mask pricing strategy is aimed at positioning the masks at shelf price that is in the mid to lower quadrant of the high quality brands and products. Smart Mask will accomplish this through making careful marker comparison as well as Smart mask will rely on penetration pricing which is a quick way to gain market share through setting low initial prince to entice the consumers to purchase the smart masks.
Place Strategy
SMART Mask will be distributed through two major avenues. The first pathway is the electronic stores that will enable the general public to buy them when shopping and don’t have pay for delivery as well as allow additional exposure to the market. The other pathway is through online ordering and physical stores. Smart Masks will have two distribution centers and a number of stores that will enable the company to distribute quality products in various stores.
Promotion Strategy
SMART Mask will employ integrated marketing communications to boost their promotion and increase awareness. Smart Masks will make an extensive use of print, electronic and display media while promoting the products. Social media marketing will be used to inform the consumers on different social medial platforms about the new high quality masks. Online ads and Tv commercials will facilitate reaching a larger target market. These will link information about the brand and the new varieties as well as convince the buyers about the quality of the masks.
| Marketing Action | Budget |
| TV commercials | $35,000 |
| Online ads | $10,000 |
| Social media | $5,000 |
