effective marketing campaigns-Volvo

Part II: Step 4

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Our passion is to create an avenue for Volvo to market her vehicles in to any audience. A thorough analysis of the latest market trend as well as demographic data has driven the new creativity of approaching the market. Effectiveness of the analysis is vital in providing crucial information to the consumers and potential clients. This part evaluates how to achieve efficiency in a marketing campaign as well as the connection of increases in sales to marketing

A

The ability to produce effective marketing campaigns on a restricted budget depends on the accurate purchasing of market and demographic research in the American market. Also, it is important to create effective overall “message” ideas that emphasizes on the advantages of their diesel plug-in-hybrid vehicle. Allocating Budget to specific advertising mediums especially through the websites and social media may also improve the effectiveness. Additionally, there would be an effective distribution of marketing campaign by ensuring that it reaches target market and measure the overall effectiveness of our marketing campaign for our client (Volvo).

B

Key Information required to accomplish the task includes budget Amount (Specified by our client (Volvo)) after conducting research on the amount of money they may be willing to pay, market Research, Demographic Research and Employees’ motivation and skills.

C

Sources of InformationAsymmetry include Budget; Creative people may have to produce a draft of a marketing campaign before the budget is finalized, meaning they do not know the amount of resources they will be given to complete the project. Additionally, the company that does the market and demographic research will hold that information until we purchase it. In the hiring of employees, measuring their creativity will be very difficult and will make the hiring process very tenuous.

D

Budget Amount is one of the general information (for Volvo to transfer the information of our budget to us is very easy, but for Volvo to come up with the budget amount may be a very long and complicated process). Assistants are also general information; everyone has access to the assistants but not their specific information. Some of the specific information includes Business Connections/affiliates because only we have a direct connection to them. Other information classified as specific are Employees, Market Research, Demographic Research, Creative Employees, Market and Demographic Research, Creativity and “Brand Loyalty”.

E

Some of the Primary Resources needed include Employees, Research team, Budget team, Patent and business secrets, Creativity, Brand name and Market size.

F

Private resources include Budget because my usage of the budget stops others from using it and it is allocated by the management to specific departments) and Business Connections/affiliates, because only we have a direct connection to them. Other private resources are employees, creativity, buildings, market and demographic research. Common pool resource is the assistants because everyone has access to your assistants but not their specific information. Additionally, specific resources are Market Research including high transactions costs via purchasing, Demographic Research regarding high transactions costs via purchasing and Creative Employees that has high transactions costs throughout the hiring process. Finally, toll resource is the “Brand Loyalty” since it involves purchasing a specific item from a brand to be considered “loyal” to that brand, but there is not a limit to the amount of people that can be “loyal” to a brand.

G

Resources are needed simultaneously by different departments and institutions. Employees are needed by the management while business Connections / affiliates are needed by the management. Also Market Research and Demographic Researchare needed by the sales department while Creative and innovative people are required by the operations team.

H

Some of the transactions costs associated with obtaining and moving information and resources within the organization include transport cost which is associated with obtaining and movement of information and Resource and information costs. There are also Consume and time cost as well as the Employees and researchers labor rate.

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