Effective Marketing Channels for Wow Food Buddy's Success
Explore the marketing channels like email marketing, social media marketing, and in-store marketing that Wow Food Buddy is utilizing to target different market segments, driving brand awareness, and increasing sales. Learn how market segmentation strategies are implemented for emerging, developing, and developed markets to tailor messages and promotions effectively.
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Presentation Transcript
Wow Food Buddy Juan Carlos Perez MKT 113 Marketing Channels Analysis MKT 113
Wow Food Buddy Marketing Strategy The company will use market segmentation strategy for Wow Food Buddy whereby the market will be segmented into: Emerging markets- includes prospective pet owners. The company will focus on increasing sales volume and not on profits by setting low prices Developing markets- comprise first-time pet owners. A compromise will be made between sales volume and profits Developed markets- these are pet owners for 2 or more years or have more than one pet. Focus will be on profits through premium pricing MKT 113
Email marketing channel The act of sending commercial or marketing information to customers or potential customers through their emails It is a very effective marketing channel because it allows for customization of marketing messages It will allow the company to customize messages according to the market segment For instance, the message for emerging markets would be to inform them of availability of quality pet food at affordable prices while for developed markets messages will be informing potential customers of the key ingredients in of Wow Food Buddy MKT 113
Social media marketing It is one of the most effective channels of marketing since it reaches many people, and it is very cost-saving Many people are at least one social media platform (such as Facebook, Twitter, and Instagram), and this makes such platforms an effective way of reaching many potential customers Social media marketing will be used to drive traffic to the company s website, create awareness about Wow Food Buddy, and drive sales Benefits include increased brand/product awareness, higher conversion rates, increased website traffic, and better search engine recognition MKT 113
In-store marketing It is a marketing approach that involves talking to or communicating with [potential] customers at the point of sale such as supermarkets, malls, pet food stores, small retail shops, and in showrooms. Examples include stationing salespersons in stores next to pet food sections and putting brochures, cards, or other advertisement materials on shopping carts, shelves, and aisles. It may also include product promotion strategies such as sampling and live demonstrations within a store and audio marketing in shopping malls and stores with entertainment such as music MKT 113
In-store marketing Contd One of the benefits of in-store marketing is that it promotes impulse buying Studies have shown that many purchasing decisions are made while at the shopping store, and a huge percentage of these decisions are as a result of impulse buying (Sopadjieva, Dholakia & Benjamin, 2017). It will also help shoppers to make purchase decisions hence increase sales while also providing useful information about the product and prices It cam also be used to remind customers to buy Wow Food Buddy hence increased sales MKT 113
References Mayureshnikam & Patil., V.V. (2018). Marketing Strategy Of Coca Cola. IOSR Journal of Business and Management (IOSR-JBM). PP 77-85. Retrieved from http://www.iosrjournals.org/iosr- jbm/papers/Conf.ADMIFMS1808-2018/Volume-1/12.%2077- 85.pdf Sopadjieva, E., Dholakia, U., & Benjamin, B. (2017). A study of 46,000 shoppers shows that omnichannel retailing works. Harvard Business Review, 3, 1-2. MKT 113
