The Bioware is a company that has helped in bringing highly qualified kitchenware that is multifunctional in the world market. It has been able to “produce advanced tools which are user friendly” (Pederson, 2009). Sequentially due to this highly technological advancement, the company has received many awards. The pottery art business has been ventured by many companies and thus Bioware is strategizing on increasing its popularity through advertising.
Our advertising strategy is aimed at supporting the market plan on the Bioware products. This strategy also supports the managerial plan in terms of business orientation in the company and the financial marketing strategy. It is aimed at giving the best quality and a different perspective of the consumer towards the company. The root problem that has lead to the development of this plan is to cater for the other uprising companies that produce kitchen through duplicating the same products. In addition, the company image and the products should be different from all other products in the market. This competition is thought to be steep due to the production of cheap products that many customers prefer due to their immediate satisfaction of their needs. Therefore, “the Bioware Company is dedicated to stand unique through establishing a strategy that will bring the consumers” (Zyman, Sergio 2002). Through this way, many consumers are perceived to increase their demand on the products because the company will have increased communications with the consumer.
The advertising strategy is aimed at enhancing the following factors that will improve the financial performance of the business:
- Increase the sales of the company through the advertisement of the product.
- Increase the profit margin of the company in the financial market.
- Attract the customers attention to consistently prefer their product
- To enhance communication between the company and its customers
- “The increment of sales will encourage both internal and foreign investments that will help in ensuring strong financial basement of the company” (Steel, 1998).
- To cater for product differentiation that will identify the Bioware brand as the only superior product in the market.
- To create a positive image of the company in the market thus attracting more customers from a wide perspective
- To ensure that the consumer taste and preferences are dealt with by the professionals in the market
- To eliminate the unhealthy competition practices of other companies
- To ensure that the Bioware company has achieved popularity in the market through making the consumers to be aware of the current improvements of the companies products
- To ensure their customers are not exploited by other companies that produce low quality products.
- This plan also ensures that the consumer gets the best and thus maintaining his standard of living in the society.
The following methods were used to make the products of the Bioware to achieve the desired outcome:
- The brand model justification: plastic caps folk and glasses
- The brand quality should be improved thus giving an outline overview to the consumer about the progressive advantage of the company. In addition, branding gives a character that will make the consumer to compare and contrast the superiority of products in the market. Hence, the consumer will be able to choose the product that has an appealing image that portrays his standards. Thus, the consumer will be able to have the associative benefit with a superior company such as the Bioware. This will be enhanced through making the plastic caps, folk and glasses more durable and appealing to the customer.
- The credibility of the brand is another factor that ensures the company earns popularity in the market. The competency of the products is the most core factor that adds the company’s credibility thus giving the consumer the ability to relate to the companies products. The unique design of the plastic caps and folks should be improved in order to make the consumer to appreciate the ability of the product to satisfy the needs of the consumer.
- The consideration of the brand is also another factor that enhances the strategy to become a more essential advertising strategy. The brand should be more close to the consumer thus giving the desired impression to the consumer.
- The brand superiority caters for the ability of the products to be user friendly thus being easy to operate by the consumers. In this way, the consumer is able to prefer those products because it is not complicated and hence giving the consumer the operation preference.
- Qualitative research that will promote understanding -This research is aimed at ensuring the consumer relates well with the consumer through the identification of the consumer needs. Such research is focused on the following factors in the market structure:
- The consumer behaviors on the product: In this way, the company will be able to identify the area in which the customers are not satisfied. In addition, this research helps to identify the consumer taste and preferences in the market. This research may be done through a questionnaire method or through an interview done by the company employee to the customers.
- The SWOT Analysis -This analysis comprises of two common parts that are vital in enhancing the company financial evaluation.
a) Assessment – this assessment gives the company to understand what is going on in the market. In other words, this shows the current performance and the situation of the market. The key occurrences in the market are noted and thus giving the company information regarding the scope of competition in the plastic ornaments market. The company should be willing and able to bring to the market the quantity that is able to demonstrate competence in terms of quality superiority. In addition, the consumer attitude towards the Bioware commodities is determined through his analysis.
b) Action – this factor emphasizes on the action that the client should do in order to relate to the important or the problem that is presented by the situation. In addition, the action emphasizes on the recommendation that should be taken as a response to the arising problem. Furthermore, “it focuses on the actions that would be done on the brand in order to be able to compete efficiently in the market” (Underhill, 2000).
- Product promotion:
- The Bioware company is expected to launch occasions that they will make the product familiar to people. This is done through offering discount coupons and the in store promotion. This will attract the customers to buy the products, thus increasing the sales revenue.
1) Will the advertisement be able to affect customer’s behavior or attitude toward the Bioware products?
2) Was the advertising strategy capable of achieving the targeted obligation?
3) How did the customers respond after rebranding the plastic caps, folk and the glass products?
4) Was the response quick or gradual?
5) If the gaming product was renamed, what influence could it have on the sales revenue of the company?
6) Was your product capable of sustaining the competition from other related companies?
7) Was the SWOT analysis helpful in formulating the company advertising strategy?
8) What is the impact of the sales promotion on the financial status of the company?
9) In what other ways can the Bioware Company employ in order to achieve changes in the sales turn over?
10) Among all the methods of advertising, what is the best choice for an effective method that can have positive impact in the company?
The Bioware Company will be able to improve its sales revenue through the advertising strategy. The “advertising strategy involves the use of the research and also the SWOT analysis” (Altstiel, & Grow, 2006). In addition, the company will use the research factor in order to investigate the consumers’ taste and preferences. The advertisement is aimed at promoting the continual usage of the Bioware commodity by the consumer. Thus, the sales revenue and popularity is achieved through this advertising strategy. The product branding should be enhanced to bring attractive character to the user and thus giving the consumer freedom of choice. The product should also be compatible to the consumer standards according to the modern technology.
This strategic plan for advertising is important in ensuring that the Bioware Company has achieved the desired profitability level. This is enhanced through making the consumer to respond well to the methods that are intended to capture his attention. Therefore, the better the consumer turn out in purchasing the Bioware products, the better the profit margin. In addition, the company should apply many methods of promoting their products in order to get good market results. Hence, the company should be able to make its products unique in order to stand the competition. The use of interviews and questionnaire methods of researching is important in the identification of the consumer needs and preferences. Hence, the company is able to collect information in the market they are trading in so that they may take the appropriate action. Thus, it is important for the company to strategies on the product promotion for developing the company.
Altstiel, T., & Grow, J. (2006). Advertising strategy: Creative tactics from the outside/in. Thousand Oaks, CA: Sage Publications.
Pederson, J. P. (2009). International directory of company histories: Volume 99. Detroit, MI: St. James Press.
Steel, J, (1998) Truth, Lies & Advertising: The Art of Account Planning. New York, NY: John Wiley Publishers
Underhill, P. (2000). Why We Buy: The science of shopping. Touchstone: Irvine, CA: Black Isle Studios
Zyman, Sergio (2002). The End of Advertising As We Know It. New York, NY: John Wiley Publishers