Pree's Marketing Strategy

As addressed earlier, the main objective of this marketing plan is to invest in marketing strategies that can produce brand awareness for Phree. Some of these programs help boost consumer knowledge of Phree in the market include; social media and retail store advertising, sponsored review videos, an Instagram account solely for Phree art submissions, and the ability to customize the product. A timeline will be provided in Appendix D to relay the timing of accomplishing tasks, goals, and marketing programs. This section of the paper will communicate Phree’s sales goals, marketing goals, and marketing programs in detail.

Objectives

To open up the possibility of gaining brand awareness for Phree, it is necessary for OTM Technologies to focus on

Advertising Strategy

It is important for Phree to have a presence on social media. As stated earlier, Phree has a Facebook page and Twitter account, but only the Facebook page is updated regularly. Also, OTM Technologies does a lot of communication through Kickstarter and Indiegogo right now because the individuals you crowdfunded for Phree visit these sites frequently to check on the progress of their investment. The first priority is to start advertising with frequency on social media sites including; Facebook, Twitter, Instagram, and Pinterest. In doing this, Phree’s brand awareness reach will be vastly expanded at little or no cost. In fact, Facebook alone has 1.19 billion active users (Kamber.com). Refer to Appendix C for the amount of active monthly users of the nine largest social media sites. The advertisements and marketing campaigns should stay consistent with the successful video on the crowdfunding sites with a lot of informational appeals, but with a good mix of emotional appeals to create interest for Phree and persuade potential consumer to take action. An opt-in email option will be made

Through contracting with credible well-known electronic retailers such as Best Buy, Phree will be widely available for purchase and hopefully be able to reach its sale goals. Negotiations with Best Buy will occur during October of 2017 with anticipation that Phree is on the shelves by December 2017. If proven successful at Best Buy, the other aim is to contact University bookstores within April 2018. By placing Phree within University bookstores, this channel strategy can best target Phree’s segmentation of students. In addition, this would be the place where we can bring to effect the promotion strategy of selling Phree with a cap for the individual price since the channel will be specifically geared towards students who may be price-sensitive yet still want the product for school. Beyond these retailers, when enough capital is generated, Amazon would be the next e-commerce company in which Phree would like to for a partnership with. Amazon is one of the largest and most established retailers, providing an immense opportunity for Phree to produce more sales and grasp more of the market