MKT Unit 3 Individual Project Research Paper Example | Topics and Well Written Essays - 1750 words

MKT Unit 3 Individual Project - Research Paper Example Part 2 deals with Application to Product/Service, this part mainly focus on Strategic Marketing Plan of Pentax PocketJet 3. Introduction: This Project will be mainly about the Strategic Marketing Plan of Pentax PocketJet 3 using the integrated marketing communications method. According to the American Association of  Advertising Agencies, integrated marketing communications identifies  the  value  of a  comprehensive  plan  that assesses the  planned  roles  of a variety of   public relations,  communication  disciplines  advertising,   sales promotion  and   personal selling, and joins them to  give   consistency, clarity,  and highest communication  impact. PART 1: General Research: Communication channel: A  communication channel refers to a physical  transmission medium  for example a wire or to a  logical connection  more than a  multiplexed  medium for instance a radio channel. A channel is used to  suggest  an  infor mation  sign, such as a digital  bit stream, from one or several  senders  to one or several  receivers. â€Å"Communication channels have evolved with more emphasis on multiplexing of multiple channels at higher data rates over the same link or channel† (Hura & Singhal 215). The Advertising Pros and Cons: There are a lot of contrasting estimations about advertising. Those in favor state that advertising educates customers regarding new products and services that can assist them develop their lives. It also enhances sales so that organizations can produce things at lesser costs and create things cheaper. And it helps the financial system and provides jobs to several people. With no advertising some free TV and radio channels would not be able to exist. Gaming and other procedures are promoted by ads. Ticket costs will be high without advertisements. In contrast, critics say that customers pay for advertising during higher product costs. They say that small organizat ions sometimes must close as they cannot fight with larger ones. Through advertising, persons sometimes buy goods that they cannot require and often may not afford. This guides to a high personal debt. It also guides to a casual society products are thrown away and more waste and pollution is produced. Children are so often the main aim of advertisers. They sometimes do not recognize which products are good and buy wrong things. Fast food and snack firms show ads, which guide to diabetes and obesity. Direct Marketing Pros & Cons Direct marketing contains direct trade. So it is cost helpful for customers, because there is no cost hike due to retailers or wholesalers. Marketing managers may state certainly of the correct answer to their goods. The profit or loss may be extra correctly judged. In contrast, it can be seen as attack of privacy, as consumer questions where we increased their private details. And negative figure of direct mail and not needed phone calls. â€Å"Relatively expressed due to high costs of making direct contact rather than the broad approach of advertising† (Somers, Cain, and Jeffery 335). Sales Promotions Pros & Cons: By running a sales promotion, a business owner can increase the sales and also improve the bottom line. Sales promotions have the prospective to develop relationships with customers and also the suppliers. One of the advantages of using sales promotions is that it influences customer behavior. The thought of the sale may well influence the consumer to do a purchase when they were not planning to do so. The notion of missing out on the