New Product Marketing
Successful new product development is pegged on effective marketing campaigns. Businesses launching new products have multiple channels at their disposal to market a new product. A company should combine traditional and emerging marketing channels to reach a wider audience. This paper proposes content, influencer, and social media marketing as the most effective marketing channels that will help Lasco Distributors Limited market its newly launched Lasco pumpkin food drink.
Content Marketing
Why Companies Use Content Marketing
Content marketing entails creating and disseminating useful and relevant content that will draw a certain audience. Companies generate trust, cement authority, and foster connections with potential customers by providing relevant information, entertainment, or inspiration about their products or business (Lopes & Casais, 2022). Businesses make their content through various platforms, including their official websites.
Functions
The organization may develop a range of content types, including blog entries, posts, recipes, and videos, all centred on the pumpkin food drink. Content can include information on pumpkin’s medicinal qualities and feedback from clients. By offering valuable material on owned channels such as a blog, YouTube channel, or newspapers, the brand may increase organic traffic, boost keyword visibility, and present the product as essential for pumpkin enthusiasts.
Social Media
Why Use Social Media
Lasco Distributors Limited can leverage social media marketing to reach its target audience. The choice of social media is informed by the proliferation of internet usage and social media networks (Dwivedi et al., 2015). Sites such as Facebook, Instagram, TikTok, and Twitter provide viable platforms that reach a wider audience. Also, the company can leverage social media analytics to target potential customers. Depending on users’ interests, the company will use the analytics to target the audiences with its marketing messages (Dwivedi et al., 2015). For instance, users who post images drinking carbonated drinks may be targeted with pumpkin food drinks as a healthy alternative.
Functions
Social media marketing will help Lasco Distributors Ltd promote its pumpkin food drink by creating visually engaging posts, videos, and narratives. Lasco Distributors Ltd can interact with its followers by posting methods of preparation, behind-the-scenes content, content created by users, and giveaways (Dwivedi et al., 2015). Social media also enables direct engagement with clients, enabling the company to collect feedback, handle queries, and build a community of users around its new pumpkin drink product.
Influencer Marketing
Why Companies Use Influencer Marketing
Influencer marketing leverages the confidence and impact that social networking celebrities, writers, and content creators have established with their audience. Companies can market their products by cooperating with influencers whose content aligns with Lasco’s values (Levin, 2019). Companies use creators who align with their values to preserve their reputations.
Functions
The company can collaborate with bloggers who write about food, health influencers, and enthusiasts to develop promotional material about pumpkin food drinks. Influencers can share their encounters, recipes, and suggestions with their audience, thereby increasing product visibility and legitimacy. This channel also allows the business to reach out to niche demographics while leveraging the influencer’s experience to successfully market the product.
Channel Members’ Interaction
Social media users utilize these sites to communicate with relatives, close friends, and businesses. They browse content posted by others, interact with postings via likes, comments, and shares, and produce their own content to share among their network. Since there is trust among close networks, other audiences are likely to relate to the content.
In content marketing, marketing organizations create and share valuable, relevant, and regular material to attract and engage a certain audience. This material can take several forms, including articles, films, infographics, and podcasts (Lopes & Casais, 2022). Consumers engage with the content by reading it, discussing it, and disseminating it if they deem it useful or interesting.
Influencer marketing is effective with people who have a significant and active presence on social media networks. These influencers generate material on a brand’s product and then distribute it to their followers (Levin, 2019). On the other hand, users engage with influencer material by reading it, connecting with it, and ultimately, making purchases depending on the influencer’s recommendations or approval.
Alternative Channels and Evaluation of Channel Members
Email marketing entails delivering sales pitches, newsletters, or incentives exclusively to a specific list of subscribers to a business email. It is a straightforward and inexpensive approach for interacting with current customers or leads. Second, affiliate marketing involves establishing partnerships with people or other companies (affiliates) to market products and offering a percentage on purchases made through their referral links. Finally, direct sales entail selling directly to customers via physical storefronts, catalogues, or direct mail. This channel offers greater control over the selling process and consumer contacts.
Marketing Logistics and Integrated Supply Chain Management
According to Madhani (2021), marketing logistics is the process of planning, implementing, and controlling the movement of products and information between the point of origin and the consumption point. It emphasizes efficiently handling goods transportation and storage to satisfy consumer needs while keeping prices down. Integrated supply chain management is concerned with coordinating and combining many tasks inside and across businesses to create a continuous flow of goods and information from suppliers to customers. It entails working with suppliers, manufacturers, distributors, and retailers to streamline the whole supply chain process.
Conclusion
In summary, the proposed marketing initiative above will help the company achieve its primary key performance indicators: expand and retain existing customers, bolster sales, and develop new products to meet customer needs. Social media, content, and influencer marketing involve a lot of interactions and broad audiences. Lasco Distributors Limited will target these audiences to improve sales while leveraging their insights to improve the newly launched pumpkin food drink to meet their needs.
References
Dwivedi, Y. K., Kapoor, K. K., & Chen, H. (2015). Social media marketing and advertising. The Marketing Review, 15(3), 289–309. https://doi.org/10.1362/146934715×14441363377999
Levin, A. (2019). Influencer marketing for brands: What YouTube and Instagram can teach you about the future of digital advertising. Apress.
Lopes, A. R., & Casais, B. (2022). Digital content marketing: Conceptual review and recommendations for practitioners. Academy of Strategic Management Journal, 21(2), 1-17.
Madhani, P. M. (2021). Marketing and supply chain management integration: Strategic implications for enhancing customer value proposition. International Journal of Electronic Customer Relationship Management, 5(2), 153. https://doi.org/10.1504/
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Question 
You are a marketing consultant who has been hired by a Jamaican company to guide the
launch of a new product to the Jamaican market. You are required to select a company
that offers services/products related to one of the following sectors:
– Food, – Hotel, – Telecommunication, – Manufacturing, – Education, – Health
In a meeting with the CEO of the company, you were informed that the board has approved a
new strategic plan for 2024-2025. The key Performance Indicators (KPIs) on the plan are to:
New Product Marketing
1. Expand and retain existing customers/clientele
2. Increase Sales
3. Develop new products/services to meet changing customer needs.
COMPANY: LASCO DISTRIBUTORS LTD
NEW PRODUCT: LASCO PUMPKIN FOOD DRINK
6)Describe the strategies that will be used to Manage Integrated Marketing Channels:
Retailing, Wholesaling and Logistics. 20 mks Be sure to include: (Alder)
▪ Recommend three marketing channels to the company, explain why companies use marketing channels, and discuss the functions these channels perform for the new product/service.
▪ Explain how channel members interact and how they organize to perform the work of the channel.
▪ Identify the major channel alternatives open to a company. Explain strategies that the company can use to select, motivate, and evaluate channel members.
▪ Discuss the nature and importance of marketing logistics and integrated supply chain management in the assurance of providing value to customers.
▪ Write a conclusion that illustrate how the marketing initiative proposed will help the company to achieve it 3 KPS stated above