A comprehensive advertising plan will help this company capitalize on many current and future market trends in the casket industry. We will develop a strategy for the company that will pull the product through the supply chain by creating consumer awareness and developing and interest for the product, thus creating a more educated, knowledgeable and empowered end-consumer. The new trend sweeping the funeral services market is that of preplanning, people are starting to realize that as with everything else, prices are moving higher on a regular basis. Many individuals realize by pre-planing know they are relieving the burden from family members and also taking advantages of saving money by planning theirs and their spouse at the same time. II-Company Description Eternal Life Casket Company (ELCC) is located in Orlando, Florida. ELCC is a very reputable funeral casket manufacturer with a large product line to meet the needs of their diverse clientele and these caskets are available through most funeral home service providers.
Eternal Life Casket Company understands whether you are planning for a loved one or yourself the casket selection reflects the personality, tastes and a final tribute making this a very personal decision. Mission-To turn Eternal Life Casket Company into a household name by building up a strong client base combined with selected advertising mediums enabling us to reach our target market both effectively and efficiently. To create and maintain the public image of a caring compassionate company who not just another business, rather neighbor and a contributing member of the community giving back to the communities we serve. At this point our main competition is the Batesville Casket Corporation. Currently there are few to no casket companies advertise to the general public giving us a clutter free communication environment to market our product inn. III-Product Information With casket cost averaging between $2,700 and $3500 we have created for the market a newly designed casket by combining all of the most popular casket choices and options thus creating a high end casket, offering an exceptional value to the consumer.
At a cost of $6,000 this casket comes with silk lining, vermetically sealed chamber (airtight), a steel shell, handles and a wooded exterior. The choice available are the type of wood, Maple, Cherry, Mahogany and Oak. The only other option to be chosen is either brass or stainless steel handles. These choices are included in the price making this an excellent choice. By creating this casket we have designed a new product in the infancy stage of the product life cycle.
IV-Target Market Target/Marketing Our target market includes people 45 years of age and older with a household income of $50,000 dollars or greater. It is important to note that the baby boomer generation has transformed every industry as they have gone through mainly due to the large size of their population. We will be marketing this product throughout the Southeast region of the United States to begin. This product and advertising campaign is economically viable through out the US with little modifications as long as the region the criteria of our target market.
The demographics for the Southeast US are ideal for this campaign since the age group 45 years and older represent 58% of the population. Broken down into gender this region consists of 53% female and 47% male. Higher income earners tend to be more organize and meticulous planners. This could result in clientele whom would spend above the average. This product will be positioned within higher end price levels and targeted to people who are willing to spend higher dollar values on their loved ones funeral casket.
These individuals are also looking for a product of higher quality; increase their value for the dollars being spent. Positioning by cultural symbols: Another factor in the purchase and amount spent on a casket would be ones religious beliefs and other cultural assimilation. Repositioning: This product does not require repositioning because of poor performance malice. This repositioning is more a mental one. Since the topic is no longer taboo more people, including the elderly, are more comfortable discussing the topic along with the numerous benefits of prepaying funeral products and services. In addition to the savings that can be accomplished and that knowing their loved ones will not put into undue emotional conflict.
V-Advertising Objectives Educating the consumer builds a strong sense of caring, trust and compassion simultaneously increasing product knowledge, brand recognition at the same time showing these future customers the advantages of preplanning and by combining all these factors together will create this brand into the consumers evoket set. This creates an opportunity to create a brand loyal and predisposition the consumer to our brand. this task will be easier to accomplish under the current conditions since is very little clutter in this product. Demonstrating to the consumer how preplanning saves money, ensures that their wishes and desires will be meet and relives the burden placed upon the family members to make large decisions at the time when their judgment is clouded. The growing popularity of preplanning your own funeral is just in its infancy stage now combined with the growing social acceptance of discussing funeral plans and since death is no longer the taboo subject.
Baby boomers are making plans for their parents who are unable to make their wises known. At the same time the boomers are getting more comfortable with the subject matter and deciding that they don’t want to be a burden and want to make their own arrangements. These arrangements stand to be more elaborate then usual simply because this generation stands to receive the largest inheritance as a group in history. VI-Copy Platform 1. Basic problem or issue the advertising must address; How much will be spent? You can never be prepared. Advertising and communications objectives: Show client money will be saved Relieve burden from family Planning is a good idea.
Supporting information and requirements Population age increasing . Supply and demand effect on price Funeral cost increasing 4% a year VII-Advertising Fear Appeal If you don’t plan ahead will you get what you wanted, will your loved ones get caught up in the moment and spend to much (they will be shopping for a product when their decisions will be clouded and at their emotion and rational time. Emotional Appeal By planning ahead you are a leaving burden of having your loved ones make decisions during and already trying time. Refutation If you planned ahead you would be getting what you wanted, not putting loved ones though a decision making process at their weakest emotional state.
Since you did not plan ahead your loved ones could be spending hard earned money giving you more that you ever wanted and spending money that they will need in order to live placing themselves in financial hardship. The funeral service will sell the product as it the last chance you have to show them how much you care and loved them. Advertising Message This will have the aspects of dramatization, straight sell and be factual. VIII-Media Strategy We will use both emotional and factual appeals.
The budget for these will be as follows: Direct mailing 25%, Magazines 30%, Television 25% Radio 18% and the Internet 2%. Direct Mailing These brochures will be mailed out through the US postal system throughout the Southeast region with emphasis on the retirement communities, civic groups, senior citizens organizations and communities that cater to the age groups in our demographics. These brochures will serve to make initial contact, educate the consumer and entice the consumer to find out more information. The other purpose is to act as support media to the print media, television and Internet for those already seen our other various advertisements.
Magazine We feel that this media will offer us the highest success rate due to the ability to reach targeted demographics, geographic and various psychographic markets. It’s for this reason that this area will receive the lions share of the budget. Magazines such as Business Week Fortune, Senior Living, Modern Maturity, County senior papers and senior community’s newsletters will prove to be an invaluable tool for our campaign. All these print media will also have reader response cards of freestanding inserts to receive additional information.
Television Through this venue we will be focusing on both broadcast and cable network shows that cater to a generally older audience and news talk shows with mainly morning broadcast. E.g. Regis and Kathy Lee, Golden Girls, Alice. Internet This will serve as a place to receive additional information or t request information mailed to their household.
We view this as an area to contact future customers. We are going to consider this as support media and not rely on this venue for revenues. Radio With this media we will center our attention to the AM talk radio stations and give the most attention to the time periods of 5:00am to 11:00am. IX-Sales Promotion While we don’t plan to offer large discounts or rebate programs we will offer a standard discount of $500 dollars if people purchase or enter into contact for 2 or more units.
X-Conclusion We are confident that by following our plan we will increasing your brand awareness, increasing consumer comfort level, create an open and willingness to communicate about the subject this allow you to capitalize on the desire to pre plan funeral, have more elaborate funerals. In doing so the consumer will become educated and recognize the build in value of your products simultaneously increasing your brand name. These steps taken will allow you to build upon the client base, which you have already establish.
