1. You are a sales rep working for a college newspaper that has an online version. How would you attract advertising? One of your colleagues says there is no market for online advertising for the paper, but you think the paper is missing an opportunity. Consider the following questions in deciding whether online advertising for the paper makes sense.
What companies would you recommend to contact? How can internet sites like you online newspaper entice companies to advertise on them? What competitive advantage, if any, would web advertising for your paper provide? (max. 10-15 lines)
2. You have been named product manager for a new government approved pharmaceutical, a diet pill that helps reduce hunger. Should you use a push or pull strategy to introduce this new product? Explain in brief. (6-8 lines)
3. What types of coupon distribution are appropriate for the early stages of the product life cycle? For the later stages? What is the relationship between the method of coupon distribution and a promotion’s objective? (7-10 lines max)
4. Explain in brief about 4 tools you would like to use for your public relations campaign, if you were PR manager for Bank of Montreal. (7-10 lines max)
Contrary to the belief that there’s no market for online advertising in the college newspaper, I believe the paper is missing a significant opportunity. To attract advertising, I would recommend reaching out to local businesses, campus-oriented services, technology companies, and online retailers. These businesses align with the college audience and can benefit from the targeted exposure.
To entice companies, our online newspaper could offer various appealing features such as:
Audience Segmentation: Highlight the ability to reach a specific demographic, allowing advertisers to target their message effectively.
Interactive Content: Offer engaging ad formats like interactive banners, videos, and quizzes that can capture users’ attention.
Data Analytics: Provide insights on ad performance, clicks, and views to showcase the impact of the ads.
Collaborative Content: Offer sponsored content that integrates seamlessly with the newspaper’s articles to provide value to readers while promoting the advertiser.
The competitive advantage of web advertising for our paper includes:
Precise Targeting: Online platforms enable advertisers to reach the exact audience they desire.
Measurable Results: Real-time analytics help advertisers gauge the effectiveness of their campaigns.
Cost Efficiency: Online advertising can often be more cost-effective compared to traditional methods.
Global Reach: The online platform extends the reach beyond the campus, attracting a broader audience.
Push vs. Pull Strategy for the New Diet Pill: For introducing the new government-approved diet pill, a pull strategy would be more suitable. This involves creating consumer demand for the product, enticing customers to actively seek it out. Given that the product addresses a specific need (reducing hunger), leveraging a pull strategy can be effective:
3. Coupon Distribution in Different Product Life Cycle Stages: In the early stages of the product life cycle, focus on building awareness and trial. Appropriate coupon distribution methods include:
In later stages, when the product is established, the focus shifts to retention and loyalty. Suitable methods include:
The method of coupon distribution aligns with the promotion’s objective, whether it’s driving trial, building loyalty, or expanding the customer base.
4. PR Tools for Bank of Montreal’s Campaign: As the PR manager for Bank of Montreal, I would utilize the following tools to enhance the public relations campaign:
By utilizing these tools, Bank of Montreal can establish credibility, maintain a positive reputation, and foster strong connections with its target audience. This comprehensive approach will ensure effective communication and engagement.
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