To launch the new integrated marketing communications campaign, designed to create brand recall in markets with little knowledge of the brand, considerable preliminary market research will need to be conducted to gain perspectives on consumer attitudes and lifestyles that will translate into an innovative procurement model with product emphasis. The logo utilised to make Vend-O-Matic stand out is based on retro-style signage common during the boom in automats in the 1960s to inspire nostalgic-based consumption behaviours. It is estimated that Vend-O-Matic will achieve a 40 percent increase in sales through this brand-building campaign, justified under premiumisation models in pricing and promotion and through establishment of more cooperative partnerships with many supply chain partners. This will be accomplished by devoting more capital and labour into the promotional function and ensuring innovation in product procurement. NLV Solutions: The Vend-O-Matic Brand 1.0 Situation analysis Vend-O-Matic is an established brand serving the United Kingdom since the 1960s. Despite this longevity in the automatic vending market, NLV Solutions has been slow to respond to market changes in a sales environment that is strongly driven by consumer attitude and psycho-social characteristics. The methodology by which the company provides talent management through family-based channels is ineffective for response to changing market conditions that continues to erode profitability for this brand. The generic market needs are for top-quality, innovative vending machines, establishment of competitive pricing structures for price-sensitive buyers, and expression of total product convenience to gain target market interest. 1.1 Market summary NLV Solutions has captured quality information about the market and consumer characteristics that will drive success in this repositioning of the Vend-O-Matic brand. This information will be leveraged throughout the entire business model to understand, specifically, which markets are being served, their tangible and emotional needs, and the most effective methodology to communicate with these markets. 1.2 Target market analysis The dominant market profile in this industry is the 16 to 34-year-old market. The secondary market is the consumer over the age of 55 that contributes profitability through hot beverage vending consumption. 1.3 Mission statement Vend-O-Matic aims to become the most recognisable and innovative vending brands in the UK. Through the establishment of close connections with buyers and renewed focus on customer relationship development, Vend-O-Matic seeks to become a market leader in quality, innovation and responsible product procurement. 1.4 Internal competency analysis Inflexibility under the current family-based management and governance structure is inefficient for achieving market and profit goals. Current management focuses too heavily on the tangibles of service and product and do not focus on the critical dimensions of intangibles required to establish a recognised brand. Consumers are largely risk averse and, to avoid uncertainty, will look for signs and evidence of quality, inferring these perceptions from communications, equipment, pricing, and symbols (Kotler and Keller 2007). Rather than focusing on radical management practices, leadership should be focusing on establishment of a recognised brand in key target markets that requires promotion of
MARKETING PLAN: NLV Solutions: The Vend-O-Matic™ Brand EXECUTIVE SUMMARY NLV Solutions operates under the Vend-O-Matic brand, a business model supported by a family-based culture that is, today, ineffective in responding according to market characteristics…
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