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Complete 2 pages APA formatted article: Norway-Promotion. Promotional Strategy for ARIO Wristband in Norway In order to promote, ARIO Wristband in Norway, the company will adopt a comprehensive and di
Complete 2 pages APA formatted article: Norway-Promotion. Promotional Strategy for ARIO Wristband in Norway In order to promote, ARIO Wristband in Norway, the company will adopt a comprehensive and diverse promotional strategy encompassing the use of different media tools. It must be understood that strong promotional strategy can assist the company to position itself well in the market and attract its intended audience. The objectives set out for the promotional strategy of ARIO Wristband include building brand equity, achieving sales, acceptance of the company’s products, and creating competitive position of the company and its product. Since, the selected market for ARIO Wristband comprises of young consumers, therefore, it is important for the company to adopt promotional strategies that are attractive to them. The company has to consider a promotion media mix in order to reach its targeted audience. The company will use different promotional tools and mediums including social media websites, print magazines, business directories, and social events for delivering its messages to the its target market audience and general public.
One of the key tools that the company can use for promoting its products is social media. In the recent years, social media networks such as Facebook, Twitter, etc. have emerged as new forums for businesses to market and promote their products (Skaržauskiené, Tamosiûnaitè and Žaléniené). It has been observed that young consumers spend a significant proportion of their time on social media websites including blogging, social networking, and content sharing websites, and their acceptance of brands is positively related to the peer pressure on social networks. The company will develop informational promotional messages that are easily accessible and understandable for the younger audience (Muk).
ARIO Wristband will place advertisements of different sizes on a regular basis in various printed magazines in Norway. These fashion magazines include SMUG, Vixen, SOMA, etc. The underlying aim of such advertisement include introduction of the brand and its products, updates about new designs, and developing fashion sense for wristbands.
Participation in social events and promotion of brands is another useful tactic that ARIO Wristband will adopt. ARIO Wristband will seek entry in different fashion events such as Oslo Fashion Week, Norwegian Fashion Hub, Designerkollektivet, etc. Moreover, the company will carry different promotional activities at its outlet and also in different shopping arcades in Oslo including Byporten Shopping, Oslo City Shopping Center, etc. to attract young consumers. The company will distribute flyers and brochures indicating different wristband styles it is offering.
In order to allocate budget for promotional activities through different mediums, ARIO Wristband will consider various factors including approachability, richness of content, cost, and frequency of messages (Radu). The company’s aim is to make use of cost effective promotional tactics that will not only allow the company to reach larger audiences and also, keep its costs low. Furthermore, the increased frequency of promotional messages is also important for inducing positive sentiments regarding the brand. ARIO Wristband will develop its promotional content by keeping in mind that its targeted audience is of young consumers who have a good knowledge and understanding of fashion trends. Three-year budget for promotional activities along with the type of medium to be used is provided in the following.
Type
Frequency
Budget (Krone)
Social Media Websites
Daily
90,000
Fashion Magazines
Monthly / Annually
70,000
Flyers and Brochures
Weekly / Monthly
10,000
Social Events
As per availability
50,000
Works Cited
Skaržauskiené, Aelita, Ruta Tamosiûnaitè and Inga Žaléniené. "Defining Social Technologies: evaluation of social collaboration tools and technologies." Electronic Journal of Information Systems Evaluation 16.3 (2013): 232-241. Print.
Muk, Alexander. "What influences millennials to like brands on social media?" American Academy of Advertising Conference Proceedings, 2013. 84. Print.
Radu, Pintea Florin. "Relationship marketing strategies in the knowledgeable society." Annals of the University of Oradea, Economic Science Series 22.2 (2013): 605-613. Print.
