Phoenix Advertising Agency is designed from the ground to complement internal marketing and advertising teams (National Register Publishing Editorial Staff, 2002). The organization can help one reach the customers and build the business to scaling heights of profitability and recognition of branded products. The agency understands the unique challenges faced by organizations. The executives, market and stakeholders expect great results from the team cumulatively responsible for generating profit. Time is limited and just staying current on marketing and advertising topics is difficult, inclusive of finding time to do it all. Able to understand the customers' unique challenges, the agency can derive profitability by being an expatriate partner in advertising, product promotion and marketing to meet the set targets and objectives.
The agency believes that the organizations design products that suit the need of customers to quench their satisfaction. However, the customers must be aware of how their needs have been met. Recognition of the knowledge of need is paramount but most important is how the needs are met. The ultimate purpose of Phoenix Advertising Agency is to ease challenges faced by organizations, magnify their strengths, and make the organization look great in the process (Ellison, 2007). The Agency is specialized in re-strategizing advertisement approaches made by organizations. Moreover, Phoenix is an outside confirmation arm for advertising plans made to ascertain its realistic nature. The incredible team of strategists is a bunch of specialists experienced to incorporate the objectives of organizations and the market economic environment to achieve the desire of remaining within profit margins.
In the economic rejuvenation and aggressiveness, it is of great value for organizations to understand that successful campaigns are based on solid strategy. The advertising plans should be based on the entire subject analysis. The external and internal environment must be analyzed to depict a realistic scenario of the future. The Phoenix Advertising Agency can help organizations understand what their best features are, and how to present themselves to make the best impression. The specialist in-house team is always ready to help firms and organization unlock the power of the incredible mediums to find prospective customers. When the customers are reached, then businesses can powerfully tell them their story, and convince them to buy products (Worldwide Advertising Agencies Industry Report, n.d.). To increase sells, marketers must revolutionize their outlook and consider advertisement as the starting point but not as an afterthought. Phoenix Advertising Agency is not a temporary alternative to internal marketing aptitude, but an essential partner for a marketing unit of any size.
The Agency is a full-service advertising intervention. Once organizations start advertising relationships with Phoenix Advertising Agency, they start experiencing the onset of building an environment of credibility, dependability, and reliability. The agency offers a list of interventions that can increase sells if blended in the right proportions corresponding to market trends. The comprehensive marketing campaign includes updates from the website, branding of product elements, public relations activities, collaterals and email, marketing research, loyalty programs and rewards, social media platform campaigns, search engine optimization, open events, and after-sale services (Worldwide Advertising Agencies Industry Report, n.d.). However, the main objective of Phoenix Advertising Agency is to make organization's advertising plans and campaigns a reality.
Review of the Advertising Strategy for Honda CR-V PHEV
The strategy is a campaign plan to communicate the new ideas about the product designed to potential customers. The strategy for the Honda CR-V PHEV has been designed in an intelligent manner to reflect the uttermost business considerations and the objectives set. The plan is creative and flexible enough to depict the true image and desire of the targeted customers. Moreover, the avenues for reaching the consumer are clearly defined.
The Honda CR-V PHEV advertising strategy aims at strengthening the recognition of the technologies employed in designing the motor vehicle. The achieving of this objective will enable the target customers understand and embrace the new features of the Honda CR-V PHEV. Once the awareness has been achieved, the customer can be easily convinced to choose the product preferably. By choosing the product, the company will register an increase in the cumulative income and thus profit generation. Moreover, the Honda CR-V PHEV advertising strategy targets increase in sells in the year 2016. Through the strategy, the company will not only realize an increase in the sale of the specific product but will also register an increment in the sales of other brands in the company. Effective advertising will create awareness of the entire brands in the company and mitigate the effect of the competitive market on the creation of profits (Ellison, 2007). The strategy costs less in correlation with the expected cost-related outcomes in 2016. If implemented, the company will not only be minimizing the cost but will also be increasing the popularity in the production of a variety of products.
The Target Group Review
The design for Honda CR-V PHEV is about family needs. The features included attract a family set-up. The hybrid technology is cost effective and will be the favorite for the family. Families will always be attracted to cost effective products that are classy and presentable. The accompanying slogan First Class Choice for Family' is in line with the target group as well as incorporating the design. Through the advertising slogan, the target group, and the design intermingle to summarize the main course of the strategy. The focus of the advertisement plan being London, Birmingham, Glasgow, and other British large cities will reach many families.
Methods Employed Review
The advertisement is mainly based on outdoor advertising, television, magazines, and online media. The variety of methods employed increases the market coverage and familiarity of the product. Placement of outdoor advertisement in designated areas in the towns identified is a very efficient mode of disseminating the product communications. Outdoor media is more efficient because it has long lasting effects, can be used under all weather conditions at all times, it is less costly, and has very high coverage ability (Ellison, 2007). Moreover, the use of television and magazines will be more effective because the target group is the young families. Displays of the interior feature highlighting the spacious and comfortable designs will increase the attraction.
The Activities Review
The driving activities will directly demonstrate and affirm all the written and spoken features about the Honda CR-V PHEV. By inviting the target group, they will have the first-hand experience of the comfort described and incorporated in the motor vehicle. The passion created in the consumers will sprout a strong desire to own the car. The demonstration activities being covered by the media will be an added advantage to the process of negating any false information from competitors (Chunawalla, 2008).
By promoting the hybrid electric technology, a greater emphasis should be based on the impacts of adopting and realizing the carbon emission targets. Through presentations, the audience should be informed on how achieving the carbon emission objectives will not only create a safe environment but also sustain a better ecosystem for future generation. Therefore by purchasing a Honda CR-V PHEV, the families will the indirectly creating a safe environment for themselves and the future.
Methods for Setting Advertising Budgets
When organizations are setting up the advertising budgets, they are supposed to conduct an effective and extensive study of the market, competitors, and its financial position. Studying the market and then setting up a favorable marketing and advertising strategy will have a great impact on improvements in company performance. Several methods can be employed to determine the amount of the budget to be used in advertising. The most common methods are discussed below.
The Percentage of Sales
The method employs the determination of the budget from the previous year's sales made. When closing the financial year of the organization, the total cost of the sales is determined. The method is based on predictions and is the best if employed by companies with fixed annual sales (Smith, 1996). The budget derived from this method is fixed and is unfavorable for organizations requiring more promotional activities.
The budget from this method is decided based on the availability of funds. The method is majorly used by small organizations. The companies with funds that can be channeled to advertisement conduct promotional activities. The organizations employing this method can conduct advertisements the whole year or at any time as long as the funds for advertisement are available. The amount spent will always vary from time to time about the funds available to the company. Organizations that can afford more money for advertisement will conduct extensive and intensive promotional activities as compared to those with less income.
Best Guess Approach
The firms entering the industry for the first time employ the method. The assumption is that the organization is not aware of the market features related to advertisement and how much to spend to promote their product and services. Experienced leaders of the organization decide this method, as they understand trends and can predict with ease. The method is not dependable because it does not guarantee a proportional return related to the amount spent (Smith, 1996). However, with time, the organization gets to understand the market and can employ a more reliable method to determine its advertising budget.
Factors Affecting the Advertising Budget
Advertising and marketing budget is the quantified monetary value that is used to on advertisements and publicity of the company activities or products. This budget includes the costs of reaching the target consumers and notable sales that will bring about an increase in the graphical representations. The budget is expected to register a conspicuous profit to the company. However, before finalizing and executing the advertising budget, the organization must identify and analyze the favorable and unfavorable conditions that will affect the budgetary allocations (Shim, Siegel, & Shim, 2011). Most of the conditions are market-related factors that have an impact on the advertising strategy.
Frequency of the advertisement
The number of times the advertisement has been relayed on the media choice accompanied by the product specifications and descriptions. The advertisements have been granted a slot of time and a frequency assigned (Chunawalla, 2008). It is worth noting that the higher the frequency, the higher the cost allocated in the budget. However, when the product and its special features are advertised more frequently, the level of familiarity and awareness increases. Besides, the targeted audience reached increases.
The competitors available in the market will determine the magnitude of advertisement employed. The products of the competitors, if closely resemble the organization's products then it must increase the nature of the strength...
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