I’m currently working on a study where we will have to elaborate a comprehensive marketing strategy for a new product. We are in the initial phases of this project and it strikes me how complex it is to come up with an effective and efficient marketing mix for the campaign. The main challenge is to really understand which kind of channel mix to rely on for this product along its lifecycle: today our first concern is to create awareness for the product and to trigger a positive world of mouth which will induce first customer purchase…tomorrow it will be nurturing this relationship building our customers’ loyalty towards the brand.
Currently we are coming across a number of expert studies and engaging in interviews to choose the channel mix for our first campaign.
Over the long term however we intend to introduce some models or tools that will give us a clearer idea on the effectiveness of the different media channels and also on the possible halo effects. Are we really choosing the most effective and efficient mix? I would be interested in some experience from anyone in the class…
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