Introduction
The paper attempts to describe the problem statement for Mama’s and Papa’s magazine as it provides a detailed analysis for the company’s brand. The paper ascertains to discuss the potential of the product through the application of BCG matrix, marketing mix, and using the model of brand pyramid. Furthermore, advertisement and marketing strategies for the next year have been formalized for the success of the brand.
Problem Statement
After a detailed qualitative and quantitative research performed by American Response Company for Mama’s and Papa’s magazine, along with the different branding initiatives and advertisement strategies, the magazine brand has failed to meet the expectations after one year of its existence. The product failed to create a desired impression in the minds of the target audience. Therefore, the company faces the future challenges in designing advertisement and marketing strategies for coming years in order to make the product profitable.
Analysis
BCG Matrix
Boston Consulting Group analysis provides a description of the product life cycle and it helps in analyzing the business units for the different product lines so that the company may allocate resources accordingly (Griffin, 2011). Mama’s and Papa’s magazine which has been launched by the company has been placed in the question mark quadrant. This particular section represents that the product reflects a high market growth, but low market share in the industry. A comprehensive market research for the company had been performed by African Response which highlighted that there is a significant gap in the industry and the product that shall be introduced within the particular target segment would be accepted in the market. This indicated that the particular industry had a high marker growth, but as mentioned in the case that the product was not as profitable as it was being expected, therefore, it shall be placed in Question Mark. Furthermore, this particular section describes that either the company shall discontinue with the product or shall invest more budget for its revival.
Marketing Mix 4 P’s
Product
The product developed by Kwenta Media is an all-in-one magazine for both parents in understanding about the concept of parenting, baby care, and pregnancy element. The magazine contains fully-researched articles written by medical and scientific communities which entail the description about parenting and other related stories and content.
Price
The price of the product which has been offered to the market by the company is R26.95, whereas, similar pricing is being offered by ‘Your Pregnancy’, a competitor for Mama and Papa’s magazine in the same industry which refers to R26.50. Moreover, the other competitor of the company ‘Fit Pregnancy’ has been offering the product at much lower price than Mama and Papa’s for R23.95. Therefore, analyzing the particular prices offered by different companies in the industry, Kwenta Media adopts a premium pricing strategy as the price of its product is comparatively higher than its competitors.
Place
The company developed a strategy to market its product through a distribution firm which would be responsible for targeting in different retailers of South Africa, Botswana, Namibia, and Swaziland through RNA Distribution Company. Furthermore, the company forecasted the sales of 20,000 magazines in the initial month of the launch, whereas, it has been estimated that the company shall print 30,000 magazines.
Promotion
The company developed a detailed product strategy to launch its brand which has resulted in the investment of R900, 000. The advertisement and marketing strategies for Mama and Papa’s magazine are focused on three broad categories which include ATL activities, BTL activities, and Public Relations. The company managed ATL activities through spending R600, 000 on the radio programs along with the TV commercial advertisement. Furthermore, the company also applied an aggressive billboard advertisement, and print advertisement which allows the product to appear in newspaper and family and women magazines.
While considering the second approach, the company focused upon guerilla advertisement which had also been the top objectives for the company. Moreover, the third category entails to the increase of PR through websites, interviews on the radio, distribution of electronic flyers, and a viral marketing approach targeting the medical staff at the hospitals.........................................
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Nawaal Motlekar Kwenta is Managing Director of Media and founding editor of the Mamas & Papas, recently parenting magazine in South Africa. From its early entrepreneurial experience, Motlekar developed a personal and professional interest in education journals. The Black South African women, married to an Indian man in an increasingly multi-ethnic and multi-cultural society, Motlekar recognized gap for education magazine that would appeal to a broader and more racially and culturally inclusive target market. After extensive research and development, she started Mamas & Papas magazine in early 2009. Case graphics Motlekar a journey as an entrepreneur as well as its efforts in the period between 2006 and 2009 to bring the magazine to life. The case is considered quantitative and qualitative research approaches used to Motlekar, as well as its marketing and branding initiatives for the creation of Mamas & Papas brand beyond just the physical log. With the magazine having been on the shelves for 12 months, Motlekar and its board was faced with a number of decisions. These include the possibility of increasing advertising revenue and circulation, as well as the selection, how to extend the Mamas & Papas brand into related categories. "Hide
by Michael Goldman, Jennifer Lindsey-Renton Source: Richard Ivey School of Business Foundation 17 pages. Publication Date: March 14, 2012. Prod. #: W11647-PDF-ENG