e company needs to firstly consider if the company’s aim is to increase the awareness of a new product, increase sales, or if the company wishes to increase the brand awareness and the product differentiation.
Here we aim at finding the right marketing mix for Southern Comfort and aim at developing marketing strategies for the company keeping in mind a few of the most essential elements of the business which include, the target markets, product, place and prices.
Target Market: The current target market for the company is people between the age of 21 and 29 years. The company can utilize a younger approach to reach out to these groups of people and similar to the style of marketing that the company already adopts, Southern Comfort can use the online medium to reach out to the younger generation and use new media marketing techniques. Techniques like the following will prove to be very helpful:
Video Marketing: This is one of latest new media marketing processes and it is a series of digital media files which normally include both audio and videos and these are normally provided for downloads (Ratcliffe & Mack, 2007). However the downloading in the case of pod cast is different from the normal downloads and this mainly done via web syndication. This is a part of the video marketing itself. The use of ‘YouTube’ and other similar sites has become a major mode of achieving newer customers. Southern Comfort can use this mode to provide new advertisements and gain subscribers through YouTube. Using this set of people that they gain from YouTube can be directed to the website and this can be converted into sales which in turn mean revenues for the company (Kotler and Keller, 2006).
Social Networking: Another mode of new media marketing which has seen a high level of growth is the Social Networking. Social networking is one of the most recent and high used form of marketing and advertising for most companies. This can prove to be very beneficial for the company.