The goal of every company is to maximize its profits and this requires several adjustments to be made so as to achieve this goal. The major adjustment that should be done is to change or improve the existing marketing strategies mainly to the target audience which is of course the youth in this case. This is important because it will help the Flip video producing company stay ahead of their competitors. This is will be accomplished by stating, demonstrating and proving the value of the Flip video over the other cameras. This will be mainly achieved through aggressive advertisement especially through the internet because the target market is the college youths who mainly have access the internet.
Introduction to Media Plan:
This video camera was developed in May 2006 from the pure digital point and shoot videos camcorder and also from the Ritz camera. In September 2006 the camcorder name was changed to Flip Video and later in September 2007, Flip Ultra was released which got a large market internationally. The Cisco system took over the pure digital technologies in 19th March 2009 and hence, in today’s market there are many different models of flip videos (Mossberg, 2006). Cisco Company was started in 1984 in San Francisco in 1984 by some staff members of Stanford University, which later moved to California and is currently a very big company which earns over 40 billion dollars revenue and has very many employees.
The HD video camera has a high demand due to its good distinct features such as: it is an ultra slim camera, has high video capturing effect with a simple interface, it shoot for long periods of time and lastly, it is easy to handle. The camera also has the USB which enables it to be connected to the computer and also has proper tools for: taking photographs, editing videos and sending greeting cards. Other features include; protective clips from children and has a high speed sharing system.
There is an increase in the market for the ultra cameras which can be associated to high promotions especially in the internet with the aim of reaching the target audience which is the youth because they are the ones who mostly access internet. This is done mainly by displaying the clear and appealing HD images of the camera in the internet, writing promotion words and indicating the prices of the cameras (Boehret, 2007). Other methods of promotion that have been used are magazines, journals and television where information, details and picture are printed and also displayed.
The film industry has evolved greatly and this is due to the great competition in this industry where Companies like Sony, Fuji, Vtech come up with new products to meet the customer’s demands and keep competition with other companies (Osterwalder, 2010). The introduction of the digital cameras has led to the removal of film systems in the market due to its superior qualities, such as sleekness, ability to share, compatibility with computers and high quality output.
Primary Research Report
An online survey research which took a week was conducted using a questionnaire issued to 100 random people so establish some facts about the Flip HD Video. The following is the result of the study:
These results show that there is a small market for the product therefore expansion is needed. This is because 50% of the respondents never had a flip video and only 23% had it. It is seen that the audience’s attitude and behavior towards the product is positive but still not enough sales. This shows that the client needs to come up with new strategies to market their product.
Target Audience Characteristics
The main target audience for the Flip Video camera is the: averagely aged people, people who conduct business through the internet and also the young people especially the college students. The flip is mainly for people who require simple devices that don’t require a lot of technical expertise to use and have enough cash to buy and this is why the averagely old are also targeted (Hutsko 2010). The college students are targeted because the Flip provide a simple way of sharing documents especially what is learnt in class (Scott, 2010).
The flip camera is a brand of Cisco Systems which is very easy to use because it requires little technical knowledge and that’s why it is suitable for use by almost everyone. It faces competition from other digital cameras that are slightly cheaper than it. The major target market for this camera is the averagely old because they comprise majority population of most people in most countries and can easily afford to buy. The average old prefer the Flip it doesn’t require technical knowledge to use because most of them are technologically illiterate.
9. Media/Advertising Objectives/Strategies
The major objective is to ensure that there is proper and detailed marketing of the flip to the targeted groups such as; the averagely old, the young and the business people so as to increase the sales. They should also consider the use of media mix where they use different kind of media in order to reach more audiences (Yeshin, 2006). The other method that can be used is sales promotions, entices new customers to buy the product and the traditional customers loyalty.
Another strategy is advertising in more in some regions where there is greater sales potential than others and also using the scheduling and timing form of advertisement where you advertize more in some months and less in others. The advertisement is accomplished by use of media vehicles which includes; the internet, print media, television and the radio stations.
Recommended Tactics and Rationale
The media vehicles to be used for advertising are, TVs, billboard and the internet.TV advertisement has the advantage of reaching very man people at the same time and also one is able to see how the product physically looks like and also demonstrations can be done. It is an efficient method to reach the averagely old. The internet has the ability to reach the largest number of audience all over the world with minimum cost. The bill boards have the advantage of targeting specific geographic areas or regions.
Media schedule summary
Flight scheduling is mainly used where in some months there is intense advertising while there is less advertising in other months. The budget approach used is the object to task method because it allows one to relate the marketing expenditures and the objectives expected to be met.
The best way to determine the effectiveness of a media plan is to check if the set targets were accomplished. The factors that can affect the media plan which are increasing competition and advancement of technology where some products become obsolete. Emergence of new products may affect the market plan negatively such that there some products that are not supposed to be advertised by a specific form of advertisement but the owner doesn’t have a choice but to use that form of advertisement.