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Graves Enterprises and Its Floor Care Products

Essay by   •  June 2, 2011  •  Essay  •  823 Words (4 Pages)  •  1,332 Views

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Continuing with Graves Enterprises and its floor care products, both business units are doing well and have now focused on expanding. However, there needs to be closer examination in identifying strategic moves that may have implications across three functions; finance, marketing, and operations. A focus has been placed on developing the consumer products area and an integrated marketing communications will be central to its success according to the Scenario Summary. Some questions of concern are; with budgeting and the cost per thousand, the product life cycle, and is the message of Graves being conveyed the same across all media via integrated marketing communications?

As defined by the American Association of Advertising Agencies, integrated marketing communications (IMC) is a concept of marketing communications planning that recognizes the added value of a comprehensive plan (Kevin Keller, 2009). The text also goes on to state, such a plan evaluates the strategig role of a variety of communications disciplines - for example, general advertising, direct response, sales promotion, and public relations - and combines these disciplines to provide clarity, consistency, and maximum impact through the seamless integration of messages.

Josh Edwards, the Marketing Director of consumer products has an integrated marketing communications campaign which incorporatesa television and print advertising campaign, a co-operative ad, an on package coupon promotion, a trial size to be used as a co-promotion, and an aggressive public relations campaign promoting the eco-friendly benefits of the brand. The total cost for Josh's campaign is a total estimate of approximately $31,200,000 with an estimated profit of almost 8.5 million.

Citing Rena Morales, marketing director of commercial products, there may be some concerns of the impact this will have on commercial products and the concerns of conveying a lo-sided message, while risking the losing some of our commercial market share. Additionaly, after contacting Abby Buzwelda, and citing her observation of the impact on both business units as a whole, her analysis shows a breakeven for consumer products at year two of the campaign, which is unacceptable. Also, it is indicated that there may be cost savings leveraging the campaigns for both business groups, targeting advertising agency fees, media buying costs, and production expenses. Furthermore, the use of combined agencies will also reduce costs.

Although the television campaign has the capability to reach a wide audience to cost per new user is too high. In addition, according to Kotler, the television is better used to reach a target audience of teens. Research has shown that the number of viewers who said they paid attention to TV ads dropped significantly over the past decade (Kevin Keller, 2009). An alternative would be newspaper ads, as the cost per thousand exposures would be much less expensive.

Joshua's

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