MBA404 Consumer Behavior and Marketing Psychology Assignment Help
1. Write a concise executive summary that covers all of the significant findings of your report (not included in the word limit of this submission )
2. Provide a concise overview of the product or service and its market performance.
3. Critically examine the company's current marketing communication mix by considering how it targets consumers' attitudes, group influences, culture, social class, consumer learning processes, and personal buying decision-making processes. Please note that not all of these topics may apply to your chosen product or service.
4. Critically analyse whether or not the communication mix demonstrates a strong alignment to your findings in assessment 1 and 2.
5. Provide at least three strategic recommendations that either address previously identified misalignment OR proposed ways in which identified alignment can be strengthened. Please incorporate recent peerreviewed literature to justify your proposed recommendations. Recommendations should not include manufacturing or operational improvements.
6. Include Appendices (optional and not included in the word count) and Reference List (mandatory not included in the word count)
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Effective integrated marketing communication is very vital part of the organizational marketing strategy. Only an effective marketing communication strategy will enable an organization to expose its goods and services to the prospective consumer group in the most impactive and convincing manner as well. Integrated marketing communication strategy does consider integration of several aspects in general like the attitudes of the consumers, their behaviours, interests of the targeted consumer groups. Further the cultures and sentiments of the consumers, the social classes of the consumers and also the learning process, response nature and personal buying decision making trends etc of the consumers. The integrated marketing communication strategy and specific tools employed by the organization invariably will take into consideration all these factors and will effectively create a framework for convincing the consumers to motivate to take up the decision to purchase the product in sight or to use the service offered by the organization. The current report is an in-depth evaluation of the alignment of the marketing mix of the organization with the actual consumer trends and other related marketing priorities. The report will evaluate the current marketing mix strategies and tools of the organization and checks to verify whether they are in accordance with the vision and interests of the organizational consumers. Based on the findings of these observations, few strategic recommendations are provided to let the strategy get even more effective and efficient. Further there is overview of the product marketed along with the literature review about related marketing strategies and insights of integrated marketing communication.
Overview of the product its marketing communication:
MSI laptop is the product under focus of attention at present. The product is characterized by MSI as the best of its kind and it has kept best of its efforts in making the design most appropriate for the interests of the consumers and also the sleek appearance is one of the commendable features of MSI laptop (MSI). As of now MSI laptops are available in range of cost patterns. One of the most expensive versions of MSI laptops of titan versions with sophisticated features that do fit the requirements and the specialized needs of the target consumers to the low cost economy models are some of the brands available from MSI. Further the MSI designs are very much standard in their design and versatile for long time as well. MSI product laptops do have characteristic features of protection from accidental damages. The bezels of MSI laptops are available in the thinnest cross sections and there is good provision to keep the webcam in the model as well. The performance and audio features of MSI are quite effective and hence are being considered by most of the consumers in the most effective manner. Operational performances of all MSI products are optimized to take in very less energy consumption. There is very good casing designed for the model, the port performance of the model is quite higher, the display of the model is good, there is GPU, Gaming performance as well as stress resistance. Speaker performance is good; Noise and temperature emissions are not good as well. There is availability of large class of options and components for this set of products and features. When most of the features stated above are available in the high range costing models of MSI, at the low cost level, there are economic models with typical characteristics of endurance, good looking and performance aspects. Further the graphics, audio, display size and battery life of this product are quite good and there is good market for the product in the consumers who look for economy prices. As a whole MSI products are good for both those consumers who are looking for products of higher prices and high end features to the low cost optimized characteristics that fit the needs of a common consumer as well.
Marketing communication mix of the company:
The current marketing communication mix of the micro star international company is used well to project the advantage of the product characteristics in general. One of the key reasons for the popularity of MSI products is the fact that the company is good in gaming laptops and has attained the most significant position in the computer gaming market at present. The company managed to project through several communication channels as the best preferable company with features of thinnest and most attractive characteristics. More than one channel of communication is employed by MSI in popularizing its product and portfolios very effectively. When it comes to the efficiency of outreach of its products to the market, the company is quite successful in attaining the same. However the key advantages of the MSI products in terms of the gaming laptop marketing, it is successful, however the company is not very much successful in establishing itself in the regular computer market apart from gaming PCs and laptops, there are companies like ASUS which are good in establishing themselves in the entire pc market in general and MSI is not very much competent in this regard. However in the gaming market the company managed to outreach its audience and its right tone, right vision and right approach is managed to reach the customers. Some of the key features managed by MSI to outreach the customers are the range of the choices available for the customers to select from the products meant for gaming application. Further specific features of MSI laptops in terms of its characteristics like no overheating problems inspite of working for long times is one of the features exhibited by MSI in its product ranges. Programmable colour options for the key board to fix the background colour as they like and setting the audio for the computer programme while working on the game with Nahimic Audio technology to give a feeling of 360 degree audio experience is a memorable characteristics of the company. In any case the company has set of characteristic features which are actually working to provide the best in class impact over the company performance and appearances in general (Chaffey & Ellis, 2019).
MSI employed communication is synchronized and the message is coherent in all the typical marketing channels employed by the company in general. Some of the specific marketing channels the company employed for marketing the product vision and characteristics include sports magazines, the visual advertisements employed in the channels like TV, audio and other social media based channels of communication (Dewanarain et al.,2019). Further there is also integrated communication there in the channels like public banners, flexies and other modes of visual display. The company slogans and the vision statements reflected well in the culture of the organization and are positioned well to meet its customers both locally and internationally.
There is sufficient evidence to believe that the marketing strategies of the company are very effective, all the marketing strategies of the company are well received by the market, the market ideas are outreaching the public as well they are good in meeting the expectations of the public and outreaching them as well. MSI is successful in meeting the customers and revealing its features in all most all the marketing tactics employed by it. It is evident in the survey findings from diverse customers contacted.
Integrated marketing communication and alignment with the findings:
Yes there is strong alignment of the integrated marketing communication with the findings observed before. IMC successfully managed to outreach its customers in terms of exhibiting its aptitude to meet the expectations of the customers like component characteristics, operational features of long lasting impact, effective and efficient functionalities, versatile components, cost affordability as well as right costing are some of the attributes made propaganded in IMC and they all met effectively in the same right tone to the customers (Morris, 2019).
Key traits of IMC:
Most of the marketing ideas are meeting the customers liking as they are well synchronizing with the customer interests, their attitudes are well reached by these strategies and also the product marketing campaign is meeting the customer pulse, level of influence appropriately(Gonne and Fun. Further the social class of the customers, the culture of the customers and their learning approaches are well received by the company and the product is reaching their interests very effectively. This is one of the most important traits of the marketing mix promoted by MSI computers (Amous 2018).
Another important aspect of the IMC strategy(Pavenkov & Rubtcova,2019) of MSI is effective usage of the marketing technique, the company managed to employ its marketing strategy effectively, the social media based marketing strategies of the company are employed quite effectively, since the key marketing target audience of the company is youth, the social media is effectively employed by MSI. Hence there are two aspects being met by the company, the first is the fact that the company IMC is employed effectively and second is the fact that they strategy employed to meet the target audience is very strategically selected. In both the ways MSI is successful in meeting its target audience (Finne and Gronneross 2017).
The key themes of IMC (Pavenkov and Rubtcova 2019, P.22) that managed to outreach its customers contained in publicizing its characteristics like,
Cost effectiveness of MSI when compared with big brands like Apple etc.
The features of the laptop which are very versatile and unique for MSI.
The features like high speed, Processor aptitude to work for long hours etc are really made popular.
It is made convinced of the manufacturing advantages of the model and also there is sufficient detailing of the product right and affordable costing (Steichen et al., 2019).
- There are several possible recommendations available for MSI for further strengthening its marketing potential as well to market its products. One of the key features that are missing in the current marketing strategy is not taking advantage of its non-gaming production capacities as well. Though they are not as competent as their counterparts still there is considerable potential available for MSI to do marketing of non- gaming consoles as well, Hence include the same in IMC and as the company has certain amount of the brand image and brand values, it is possible for the company to take advantage of these attributes effectively and it can able to outreach its objectives more effectively (Tuhin 2019).
- MSI integrated communication mix as of now focussing only on the existing positive characteristics like sleek design and slim outlook of the product, however still it can take advantage of the cultural characteristics too. The company laptops can work on to take advantage of the cultural aspects and should able to integrate the same in the overall marketing mix features and this inturn can impact the overall effectiveness of the marketing mix effectiveness of the product effectively. Redesigning the marketing mix to incorporate these aspects of IMC can contribute for better spread in Taiwan as well as in other locations also. For other locations (global regions) consideration to the local cultures in designing the outlook of the product as well designing the IMC characteristics like messages, visual appearances, audio styles etc do work on to spread the message effectively (Luxton et al 2015, P.45).
- MSI IMC characteristics also can function well by taking up the benchmarks of its competitors like ASUS in laptop consoles marketing, the extent of promotions, budgets being employed for MSI can be improved better to meet the market expectations and this inturn can work on to enable the objectives be met by MSI. Other possible recommendations include latest technologies for further improving the outreach of the strategy as well employing techniques (Andrews and Shimp 2017) that involve customer relationship management (Yussof et al., 2019) for improving loyalty of the customers.
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