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assess the potential value of integrated marketing communications and viral marketing initiatives to Brewdog - Essay Example
The core business strategy of any business heavily relies on the market strategy that facilitates its products and services to meet the needs and requirements of the people at large. According to Shultz, McCarthy’s principles of 4Ps of marketing have outgrown their…
Therefore, under the given restrained parameters, the strategy satisfied both the customers and the retailers.
Today, the technological advancements have brought forth an explosion of information that is easily accessible to public through the internet and other media like television, radio, mobile phones etc. The internet has made it easy for the customers to become aware of the product details including its availability at competitive prices which has precipitated the need to develop a whole new perspective for a new marketing technique. Brewdog, a recent entrant in the field of beer, needs to cater to the system as a whole rather than exclusively to the customer. The company must tap the growing demand from the new market segment that has come up with the advent of new technologies through creative market strategy. The inter-dependence of the various elements within the system with its inherent capacity to complement each other has vast potential to establish a market that is sustainable as well as mutually satisfying.
Kotler has defined IMC as ‘the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent and compelling messages about the organisation and its products’ (Kotler et al 1999). Even though the customer base is increasing, it is becoming difficult not only to attract more customers but also to retain them. So, one need to add something ‘more’ on the existing products to make it more attractive without compromising much on the price. In fact, the more innovative the product and fancier the promotional techniques, the higher are its chances of capturing market space. Thereby, asserting that brands, advertising, and promotional techniques are very important tools of marketing.
Brewdog needs to incorporate these factors in its strategy to not only create but to maintain a sustainable database of committed ...