Maryam Aman

[TYPE THE COMPANY NAME] [Type the document title] [Type the document subtitle] ABC [Pick the date] [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] Table of Contents Assessment 1 ....................................................................................................................... 2 Trade Practices Act 1974 .................................................................................................. 2 Anti-Discrimination law’s effects on advertising campaign ................................................. 2 Australian Privacy Principles ............................................................................................. 2 Personal Information ......................................................................................................... 2 Copyright Laws in Australia ............................................................................................... 2 Consumer Protection ......................................................................................................... 2 Legal and Ethical Requirements for Advertising Campaign ............................................... 3 Factors Affecting Consumer Purchasing Behaviour ........................................................... 3 Marketing Principles and First Families ............................................................................. 3 Marketing Principles and Empty Nesters ........................................................................... 4 Definitions ......................................................................................................................... 4 Mandatory content of advertising briefs ............................................................................. 5 Assessment 2 ....................................................................................................................... 5 Campaign Objectives ........................................................................................................ 5 Purpose of Campaign ........................................................................................................ 5 Importance of Innovation in Business ................................................................................ 5 Success of the Campaign .................................................................................................. 6 Assessment 3 ....................................................................................................................... 6 Objectives of Advertising Campaign: Promotion of Sugar-free Chocolate Bar ................... 6 Advertising Budget ............................................................................................................ 6 Schedule for Advertising Campaign................................................................................... 8 Bibliography .......................................................................................................................... 8 Assessment 1 Trade Practices Act 1974 The main purpose of this Act is promotion of fair trade, provision of protection for consumers and promotion of healthy competition in the market. This Act mainly focuses on competition laws in Australia. (www.legislation.gov.au, 2017). Anti-Discrimination law’s effects on advertising campaign The target audience for any marketing campaign comprises of people belonging to different age and ethnicity, if these factors are used negatively in a campaign, it would result in failure of that campaign and would cost the organization huge losses (Tahmindjis, 2005). Australian Privacy Principles The purpose of this Act is to provide guidance to different non-profit organizations, government agencies, private sector health service providers and small business entities about using and managing personal information of their consumers (www.oaic.gov.au, 2017). Personal Information Under the Privacy Act, a number of different kinds of information are considered to be personal information including, sensitive information (including information related to a person’s ethnicity, marital status, religious beliefs, political views), health information, employee record, credit information and tax file number information (www.oaic.gov.au, 2017). Copyright Laws in Australia The copyright laws practised in Australia outlines the legitimately applicable privileges and rights of people who have created artistic and original works under the laws implemented by the Australian Legislative body. Non-infringing copy of computer program, sound recording, electronic literary, performance and publication are covered by Copyright laws of Australia (Copyright.org.au, 2017). Consumer Protection Consumer protection signifies a collection of rules and regulations that make sure rights of consumers are not violated by anyone. Consumer protection also covers competition in the market, fair trade and precise information about a product or service in the market (Consumerlaw.gov.au, 2017). Legal and Ethical Requirements for Advertising Campaign Australian government requires all the advertising campaigns to be truthful and not deceptive. Unfair means of advertisement and communication are not to be used in any of the campaigns for promotion of goods and services. Advertising agencies are not allowed to copy content from other companies, national or international (Donovan et al., 2009). Factors Affecting Consumer Purchasing Behaviour a. Family Life Cycle: Apart from food and rent, single people do not have any obligations and tends to spend money on purchasing vehicles, accessories, furniture and other such items. Newly-weds tend to spend money on appliances for home and so on. A household having a full nest tend to be reluctant to spend extra money as they have to save for college fees. Empty nested households are more stable financially and tend to spend their money openly (Fernández-Villaverde and Krueger, 2007). b. Hereditary and Home environment: Being well-off means there is no problem in buying a product, the consumer would just need to know whether that product is needed by them or not (Fernández-Villaverde and Krueger, 2007). c. Cultural, social and situational environment: If the store is located far off and it is not convenient for the consumer to visit the store, it will affect his purchasing decision negatively. Belonging to lower class of the society would mean not purchasing expensive products. Cultural barriers arise if the product promotes discrimination of any form (Fernández-Villaverde and Krueger, 2007). Marketing Principles and First Families Marketing strategy should be created before any marketing activities are implemented so that risk of failure can be minimised as much as possible. Different advertising agencies are hired for promotion of various products by corporations. Other factors that need to be considered for advertisement of different goods and services are: buyer readiness, push and pull policies, promotion objectives, and type of distribution. The most effective and important tools used for promotion by any organization are: personal selling, advertising, sales promotion, public relations, sponsorship and direct marketing (Blythe, 2009). Marketing Principles and Empty Nesters Product, price, place and promotion forms the four basic principles of marketing. Product being promoted should be able to fulfil needs of the target market and should be able to offer innovative features. The second principle, that is, price of the product also helps in estimating the role a particular product will play in profit maximization of the company. The third principle considers the channels through which the product will be distributed and the means through which it will reach the market. Communicating different features of the product and its uses is most important part of marketing which is covered by fourth principle of the marketing strategy; promotion (Burnett, 2003). Definitions Industry: an organization that refers to a group of corporations that are associated on the basis of their principal commerce undertakings (www.investopedia.com, 2017). Services: The promotion of financial undertakings that are presented by an organization its prospective customers. Example of Services includes health treatment, air travel, and other such services (www.businessdictionary.com, 2017). Product: Goods or services that fulfils the needs of a specific target audience and produces ample profit to rationalize its continuous production (www.businessdictionary.com, 2017). Organization: A hierarchical system that is set up for provision of goods and services to a specific target market for purpose of profit maximization (www.businessdictionary.com, 2017). Involvement: it signifies the degree of interest a customer shows towards purchasing a particular product (www.businessdictionary.com, 2017). Utility: basic services provided by the government like electricity, water, gas and so on (www.investorwords.com, 2017). Evoked Set: the familiarity of consumer about different brands while a consumer is in the process of making a purchase-decision (www.businessdictionary.com, 2017). Mandatory content of advertising briefs An advertising content must be able to introduce the product clearly. Objective of the product comes next. The audience will not be interested in the product if they do not completely understand its purpose. Focus of the advertisement must be the target audience and it should be mentioned clearly which age group is being targeted. Important features of the product must be highlighted. Advantages of the product should be clearly mentioned so that the people interested can understand the features of the product (Viscolani, 2009). Assessment 2 Campaign Objectives Main objective of ‘Share a Coke’ campaign was to increase their sales as the organization discovered that 50% of the teenagers do not consume coke, so they started their innovative campaign by printing 150 of the most popular names in Australia on bottles and cans of coke. Purpose of Campaign Purpose of this campaign was to draw attention of people towards Coke and encourage them to consume their product as the organization discovered that 50% of the teenagers do not consume coke. This campaign became so popular that thousands of people turned up at kiosks of Coke and submitted suggestions and after such a massive response 50 more names were added to the list. Importance of Innovation in Business Innovation in business is the most important skill for survival in the market as people tend to get attracted to the newest product available in market. Another reason for innovation is the ever increasing competition in market. Increase in globalization has led to even tougher competition amongst the different organizations. For example, in order to increase their sales as compared to Pepsi and other such beverages, Coke came up with the idea of printing popular names on their bottles and cans which resulted in an instant success and upsurge in sales of their product. Advancement in technology and expectations of consumers are also met by coming up with innovative ideas for the business. Success of the Campaign I believe this campaign was a huge success because competition amongst soft drinks of different companies is getting tougher with every passing day and this campaign resulted in attracting thousands of people across the country towards consumption of coke. The organization saw 5% increase in sales after this campaign which shows the success of this campaign. Assessment 3 Objectives of Advertising Campaign: Promotion of Sugar-free Chocolate Bar 1. Main purpose of this campaign is to promote the purchase and consumption of sugar free chocolate bar produced by Cadbury Ltd. As the market showed a paradigm shift in target market from sugary chocolate bars towards sugar free chocolate bars, Cadbury Ltd. came up with the idea of introducing a sugar-free chocolate so as to increase their sales and profit. 2. As there is no low-sugar chocolate present in market, this product will fill the market niche and increase annual return by 3% approximately. 3. Target market: 18-35 age group is targeted as this age group prefers nuts and crunch chocolate. 4. Production of 8 million chocolates in first year. 5. Creating awareness in approximately 80% of the target market. 6. Main ingredients of the chocolate will include Brazil nuts, almonds, shredded coconuts, raisins, dried apricot and Cadbury’s dark chocolate. Advertising Budget Approximately eight million chocolate bars can be produced in one year. Cost of production is 50 cents while packaging, distribution and promotion will cost approximately 30 cents each. A conscious and well-synchronized effort by an organization to sustain good relationships with the corporation’s numerous investors is done through public relation which is yet another form of promotional mix. Direct marketing is another element used for promotion of a product or service and involves the use of consumer direct networks for communication with consumers without using marketing middle-men. Sponsorship is one of the numerous elements of promotional mix which can be defined as a form of commercial contract between two parties which includes provision of capital, goods and services or knowledge by the sponsor, whereas the sponsored party, be it an organization or an individual, offers associations and rights that are used by the sponsor for various commercial prerequisites. However, for development of a promotional policy, the organization may need to come up with a combination of a few of the aforementioned elements as all the tools of promotion are not mutually exclusive. The following pie chart shows the distribution of budget in different segments for promotion and advertisement campaign of the new product being introduced in the market. Table 1: Pie chart showing distribution of budget for advertising campaign $5,900.00 9% $3,165.00 $2,000.00 5% 3% $6,-% $800.00 1% $4,800.00 7% National Marketing Local Marketing Public Relations Content Marketing Social Media $14,-% $6,-% Online Advertising Web Market Research Sales Campaigns $11,-% Other $3,200.00 5% $6,-% Promotion of product is exceedingly essential for any kind of industry as promotional strategies have a long-lasting impact on consumers of the product. The strategies adopted for promotional mix are the crux of what and how to promote a certain product in the market effectively. For carrying out marketing strategies efficiently and successfully, any organization would be required to make sure they have all the suitable marketing components that are needed for promoting their product. Factors like the product life cycle, competitors’ strategy, price of the product, target market, message content, and nature of product, type of product, availability of funds for promotional activities and organization budget play a vital role in selection of tools for promotion of a certain product in the market. Other factors that need to be considered for selection of promotional tools are: buyer readiness, push and pull policies, promotion objectives, and type of distribution, availability and cost of media (Viscolani, 2009). This pie chart shows content marketing will get the highest share of capital, that is, 22%. Advertising will get 18% of the total budget which will be followed by social media, national and local marketing; other online sources will also be used for marketing. Other forms of promotion include market research, sales campaigns and public relations. The most effective and important tools used for promotion by any organization are: personal selling, advertising, sales promotion, public relations, sponsorship and direct marketing. Schedule for Advertising Campaign 1. Cadbury Ltd. will aim to reach 50% of the total target market and make sure they try the new product by the end of first six months. 2. This new product being introduced by Cadbury Ltd. will be positioned in Australia on different locations. The organization will try to reach break-even point by the end of first year of the campaign and start earning profit by the end of the first year of the campaign. 3. A return of approximately 3% is accepted to be achieved by the end of first year of the campaign. 4. By the end of the second year, the organization will aim to reach 80% of the total target market, that is, people aged between 18 and 35 years. Bibliography Blythe, J., 2009. Key Concepts in Marketing. 1st ed. London: Sage Publications. Burnett, J. (2003). Core Concepts of Marketing. Wiley. Consumerlaw.gov.au. (2017). The Australian Consumer Law – Australian Consumer Law. [online] Available at: http://consumerlaw.gov.au/the-australian-consumer-law/ [Accessed 28 Jun. 2017]. Copyright.org.au. (2017). Home. [online] Available at: http://www.copyright.org.au/acc_prod/ACC/Home/ACC/Home.aspx?hkey=24823bbe5416-41b0-b9b1-0f5f6672fc31 [Accessed 28 Jun. 2017]. Donovan, R., Jalleh, G., Fielder, L. and Ouschan, R. (2009). Ethical issues in pro-social advertising: the Australian 2006 White Ribbon Day campaign. Journal of Public Affairs, 9(1), pp.5-19. Fernández-Villaverde, J. and Krueger, D. (2007). Consumption over the Life Cycle: Facts from Consumer Expenditure Survey Data. Review of Economics and Statistics, 89(3), pp.552565. Tahmindjis, P. (2005). Sexual Harassment and Australian Anti-Discrimination Law. International Journal of Discrimination and the Law, 7(1-4), pp.87-126. Viscolani, B. (2009). Advertising decisions for a segmented market. 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