Digital Marketer Model Communication Industry †MyAssignmenthelp

Question: Discuss about the Digital Marketer Model : Communication Industry. Answer: Introduction This report focuses on the application of relevant marketing concepts by special F1 collection- product advertised in a luxatic blog by Ray-Ban and Scuderia team. It is a racetrack product meant to give an experience of an F1 excitement will lower chances of injury. The main focus of this report is stipulated on a number of activities including; steps in writing a marketing plan, SWOT and competitor analysis, mission, financial and marketing objectives of the product launched, formulation of a marketing strategy with an emphasis on digital marketing and communication plan, current action plans designed to achieve the set objectives, and lastly implementation and control of the marketing plan. Application of these concepts is meant to positively favor marketing strategy and digital communication which widens the market field thereby creating a reliable and steady market for F1 collection-product. F1 collection is a product unveiled by Ray-Ban and Scuderia Ferrari team. It is aimed at giving a good rush as same as that of a racetrack. It is designed with a high art of technology. The team is meant to apply the marketing concepts such as marketing business plan and promotion services to be highly competitive and fit in the marketing field. Its model is also meant to reach a target of funs such as Italian Formula 1 team. To achieve this, following the marketing concepts and proposed ideas is very significant to the achievement of the set goals. A marketing plan is a document that outlines a business effort in marketing and advertising for a given year. It describes business engagements and activities involved in the achievement of the set objectives, within a set limit of time. The following are steps that guide a marketing plan (Disanza, 2016). Situation analysis: This refers to the outlook of a current state of a company. It includes an overview of strength, opportunity, and weakness of an organization. In the case of F1 collection-product, this analysis can be applied to assess the strongholds of the Ray-Ban and Scuderia team, identify a new opportunity to market the product and to analyze the challenges encountered (Westwood, 2010). Target audience: After identifying the target customer, it's good to write a description of the information gathered. Therefore, this concept can be applied in the case of marketing F1 collection product where a description of the audience of the target can be written down for reference. Marketing goals: This section includes drafting of marketing goals. That is inscribing what one expects to achieve. The goals should be measurable such that one can determine failure or success. Referring to the ad of the F1collection product in the luxatic blog, this is applicable where goals of achieving the best design of F1 collection product can be drafted and measured to determine whether they would be achievable or not. Strategies and tactics: In this part of the plan, one determines the methods and relevant ways to advertise the products and identify outreach tools as well. In the ad of the F1 collection product, strategies such as advertising the product in different media can be applied. This can be done in conjunction with the identification of the correct outreach tool such as digital communication to ensure that the audience of target achievable. Marketing budget: This refers to the evaluation of the cost to be incurred while marketing one's products. The budget should display a good balance such that it can give a positive impact on sales and also conserve the startup fund (Steenkamp 2017). With the F1 collection-product marketing, the budget Evaluation is applicable where luxatic has been chosen to be the most convenient site for advert bringing forth a positive outcome and conserving the initial start fund. This combined analysis involves evaluating the market structure regarding strongholds, weaknesses, competition and opportunity gaps to have a firm stand in the market (Pherdamrod, 2016). Projecting to the F1 collection-product, the analysis can be applied. For example, the blog gives a hint of the team stronghold where it explains that the Ray-Ban and Scuderia Ferrari collection includes an exclusive package with a special Ferrari engraving feature that pleases fans from Italian formula 1 team. Regarding competition, analysis of the methods of advertisement by other teams and partnerships can be done to create an attractive, unique module of marketing. For example, the F1 collection product advert can be branded with unique titles such as the topmost luxurious F1 collection product. Such prominent titles are competitive and give a team a firm stands in the market. A mission is a statement that describes what an organization is willing to do to achieve a set objective. With the F1 collection product, there are some activities Ray-Ban and Scuderia Ferrari team can apply to achieve their objective, For example, securing clients payments, unique adverts, and digital communication such as online marketing, can define their mode of operation and catch attention from the audience of the target. Marketing and financial objectives achievable within six months of launching Marketing objectives are aims and target a team, or an organization is willing to achieve. Within the first six months of F1 collection-product launch, the following objectives can be achievable. Increase in sales is one of the marketing objectives where F1 collection product shift from small scale to large scale levels due to increased demand brought by uniqueness and improved quality of the F1 collection product in the luxatic blog. Secondly, within the six months of the product launch, there is a likely hood of targeting new customers. With the prominence of the advert in the luxatic blog and taste of the product by many customers, a chance to target new customers is applicable since as the product spreads the more, there is a likely hood to reach internal customers. Also, within the first six months of the product launch, building of brand awareness is achievable since many blogs can be joined with social sites such that people can like the advert pages and spread brand awareness. Financial objectives are monetary aims set by a team to be achieved within a given period. Within the first six months of the F1 collection- product launch, three financial objectives can be achievable. This includes the growth of revenues where profits rise with a given margin. It is applicable in F1 collection product in that; constant sales widen the market, therefore, influencing revenue collection. Secondly, a diversified revenue base is another financial objective a team can achieve within the first six months of product launch. In the case of the F1 collection- product a diversified revenue base can be achievable. To achieve it, the team should apply diversified marketing where the product is marketed in both local and international regions to reap maximum profits from these regions. Lastly is the growth of earnings where a team obtains income from different charges of the product. For example with the F1 collection product, delivery charges can be included in marketing which can also be merged by minimal charges implicated on after sale services. By applying this, high growth in earning is achievable within the first six months of the product launch. Marketing mix strategy and digital marketing communication plan Marketing mix strategy refers to set of critical methods of marketing which are controllable. A company or a team of businessmen use it to give the required response to the targeted market. It includes all activities that a company can do to facilitate demand for its products. For example, the marketing mix can be executed through, promotion of the product, pricing, and distribution of the product. In promotion, marketing communication methods and tactics, appear on the promoting heading. The promotion heading can consist of special offers, public relations, and animated advertising. With the F 1 collection product, this strategy can be applied. Where the promotion heading Ray-Ban and Scuderia Ferrari F1 collection includes other features such as fair trade and secure payment slides, animation of the F1 collection product pictures and communication strategies such seller-customer interface( Andrew, 2017). When it comes to pricing, the display price covers the stipulated final amount the user is expected to pay for the product. The pricing is usually standard such that its value to a customer and the seller is maintained as well. It can apply to the F1 collection- a product where the displayed price is customer friendly as well as profitable to the Ray-Ban and Scuderia- Ferrari team (Sexton 2016). Regarding place, it refers to the distribution of the product to reach the targeted customer. Placement of the product, guides on which channel is most suitable to distribute the product and also support other strategies concerning the marketing of the product (Barker 2014). This strategy applies to the F1 collection product where the choice of a channel for distribution is guided by the luxatic blog. Digital marketing communication plan is a marketing genre where marketing of products and services is communicated through technologies such as the internet, mobile phones, and street screen displays. The communication plan describes the objectives an organization wants to achieve through the information it sends. It is composed of tools of communication, the targeted recipients, and the goals to achieve (Killian, 2015). The use of this plan in F1 collection product can be applied where the Ray-Ban Scuderia Ferrari team can include the use of street screen display of the product and also advertise it in other blogs that include features such as E-commerce business. By doing this, the desired objective is achievable since the digital communication is equipped enough to reach all recipients of interest (Royle, 2014). Action programs designed to achieve marketing and financial objectives To achieve marketing and financial objectives, some action programs must be put in place. It includes details of a company describing tactics and strategies to use for the achievement of the marketing objectives (Mintz, 2013). A detailed mission statement is one of the action programs that need to be set properly to guide activities meant to take place to achieve the desired objective (Broady, 2013). For example, the mission statement should address three dimensions that is technology to be used, customer groups to be served, and customer needs to be addressed. These dimensions guide the activities to engage in by reminding each department of an organization what it oughts' to do in its daily activities to achieve the set objective. Combining these three dimensions result in the achievement of the main objective (Campbell, 2016).Applying this concept to the marketing of F 1 collection-product is achievable, where online marketing is the technology used.It can also be found that the customer group in the target are legend star drivers of the high model cars. Ray-Ban and Scuderia team also seems to address the need for racing cars. Advertising sales and promotion is another action program designed to achieve the marketing and financial objectives. On the other hand, advertising is a form of marketing communication which involves a the visual or audio display of the product on the sale through mechanisms such as broadcast notices. Sales and promotion involve creating awareness of the product in market through methods such as direct marketing and public relations (Mc Neil, 2015). Referring to the case of F1 collection product, advertising and promoting the product can create sales, whereby the awareness created in the blogs are prominent enough to attract potential customers. The luxatic blog has utilized this action by visual advert and appealing display concerning the F1 collection product. Therefore the financial and marketing objective is achievable (Wegen, 2016). Implementation and control of a marketing plan Implementation of marketing plan refers to the practice of an idea or a plan usually guided by a preliminary thinking to ensure the action in hand happens. Control of marketing pan, on the other hand, refers to the process of surveying the stipulated plan as it goes on and rectifying where necessary. Implementation and control of a marketing plan are actions which must ensure that the set objectives are achieved. The role of implementation as a function is always aimed at organizing and directing people by preparing set of activities and people responsible for them. For example to the F1 collection- product, Ray-Ban and Scuderia Ferrari team can delegate duties to marketing stuffs whereby they can carry activities such as roadshow promotions and organizing customer relations by educating them on the importance of using the product (Hollensen 2015). On the other hand, control of marketing plan involves some activities. To start with, it is aimed at evaluating and monitoring the marketing activities happening in a company. It also involves submission of records to the management gathered from deviations encountered in marketing. The process of implementation of marketing plan involves some activities. The strategy set by the managers must be very considerate to the utilization of resources, both human and material. It should also focus on proper use of the available capital. Regarding human resource, it should involve logical selection of personnel, engage training and evaluation of the employees. In the controlled marketing planning, the activity includes assessing the profit margin generated by the product and giving a recommendation of the finding. It also includes control of efficiency that is, ensuring maintenance of the intelligence possessed by the mangers and marketing executives (Mullin, 2014). Regarding the F1 collection product, Ray-Ban and Scuderia team should apply both control and implementation marketing plan strategy to enhance achievement of the set objective. Conclusion For a business to have a good prowess in marketing, it should try to apply marketing concepts proposed such as strategic marketing plan. Therefore the Ray-Ban and Scuderia Ferrari team should increase their engagement in these marketing concepts to enhance achievement of their objectives. References Andrews, J. C.(2017). 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