Discuss about the Advertising and Public Relations Meiji Dairies Corporation Limited.
The report discusses about marketing strategy adopted by Meiji Dairies Corporation limited. It is a confectionery company providing milk, dairy and other related food products (Miyazumi, 2014). The company has its trade name as Meiji co. ltd. The Dairy Company has formed by the joint venture with Charoen Pokphand, which is a Thailand company for supplying dairy products.
Meiji deals in manufacturing and providing dairy products. The company is headquartered in Tokyo. It is founded in 1917 (Meiji, 2016).
The company has a mission of providing tasty and enjoyable food for everyone and to meet all the needs and desires in relation to restaurants and hotels (Blecken, 2015).
The company has a wide variety of products in dairy products such as: Milk and beverages, ice-cream, Yogurt, child care and food products (Steinberg, 2012).
The company has its operations in Thailand, Japan, Honk Kong, Australia, Vietnam, and Taiwan. The company targets majorly domestic market. Besides this, the company is highly involved in innovation and marketing, due to which the company applies various marketing strategies (Digital market Asia, 2016).
Advertising strategy is a tool adopted by the company for reaching and influencing the customers at large to purchase the product or service. Advertising strategy can be considered effective only when it helps the organization in achieving its goal, with the minimum cost and generates maximum results (Meiji, 2010).
In case of dairy products Asian market is the most preferred choice. In case of Meiji, it targets the Asian consumers by involving diversification and innovation in its product categories. The company markets its product and services by focusing on their cultural values, social processes and mental processes. By targeting cultural values, the report means targeting consumers by their identity and personality. While social processes, means targeting consumers on the basis of how they relate themselves with others, this includes their emotional and motivational level. By mental process, the report means internal processes, which means how the consumer will perceive the product, and categorizes the information (Advertolog, 2017).
In traditional era, the dairy products were sold majorly at retail outlets and wholesale markets such as convenience stores or departmental stores. In traditional era, majorly direct marketing and personal marketing was followed. In direct and personal marketing, the company can get the feedback immediately from the customer. Here the main disadvantage of using direct and personal marketing is that it can target a small group of consumers at a time (The Japan times news, 2008). In case of traditional marketing strategies, 4P’s play a considerable role. To target customers, company uses strategies like product, price, place and promotion. The strategies used in traditional marketing are: use of print media such as billboards, television, magazines, outdoor events, sponsorship event (Tvspots.tv, 2008).
Meiji atomu sticker campiagn in 1963
Meiji Dairies corporation limited has used sticker advertising in magzines to promote its choclate products. Meiji is also involved in campaign marketing of stickers as conducted in 1963. Besides this, company conducts value enhancing campaign for drinking milk since 2009. The motive behind conducting such campaign is to increase the awareness of dairy products and awarness of such products for consumers (Tastes of Europe Japan- market entry handbook).
Modern marketing strategy comprises of use of relationship marketing, branding, transactional marketing, scarcity marketing, online marketing, email marketing, content marketing, niche marketing. Modern marketing techniques are flexible in nature which means production schedule can be matched with distribution schedule. Modern marketing strategies also involve online marketing (Efooddepot, 2017). Here relationship marketing means to work in a group or to sustain in the market for longer period, company must require adopting its strategy as suitable to its customers. Branding strategy helps the company in increasing its sales by making a good brand image in the mind of its consumers; it provides a company a competitive advantage when it comes to competition with its competitors. Transactional marketing provides the company aid to convert its potential buyers into buying customers; this would result into increase in the sale of the company. Scarcity marketing can be used as advertising tool by converting the easily available product or service into difficult to obtain (Lockard, 2014). This would increase the curiosity among the customers regarding the product, its information and price, and at last it would increase the number of potential buyers for the company. While Social media advertising is a tool in which company advertises its products by using online resources.
The advantages that company avails by using networking sites are that it aids in providing information regarding the company demographics and targeting them accordingly (Meiji). Social media advertising comprises of combining various targeting options such as behavioral targeting, sociological and psychological targeting. By use of social media for advertising products, the company can advertise its product at a large customer base at cost efficiency. Online marketing is considered as an effective tool, this can be exercised by email marketing, blogging, pop ups, content writing and many more. Email marketing is putting an email for providing the information to its customers which has shown internet in the company offerings. While content writing means presenting the data about company product and services in a manner that seems attractive to the customer (Youtube, 2016).
The company uses a combination of traditional and modern marketing strategy. In case of traditional marketing strategy the company conducts fair trade also advertises in newspaper. While in case of using modern marketing strategies, it has been observed that company uses social media advertising, and blogs to advertise its offerings. Company is also involved in online marketing but it is not so active.
The Meiji Dairies Corporation limited uses 4P marketing to target its customers efficiently. In case of product, the company emphasizes in enhancing the quality of product, while in case of price, company tries to keep competitive price as compare to its competitors. In case of place strategy the company targets majorly Asian consumers while in promotion strategy, the company adopts a mix of traditional and modern marketing strategies so to target the large customer base and differentiated customer base. The company uses television marketing strategy and magazine media advertising. This increases the consumers who prefer local advertising methods as compare to modern methods of advertising due to lack of trustworthiness (Chen, Tereno, Yamamoto & Tai, 2014).
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Product Meiji focuses on increasing the quality of its products by adding on nutrients. |
Price Company adopts competitive pricing so to compete with its competitors. |
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Place The company targets customers of Thailand, Japan, Honk Kong, Australia, Vietnam, and Taiwan. |
Promotion Meiji dairies corporation limited uses a mix of traditional and modern marketing strategy for promoting its product. |
The Meiji Company adopts social media advertising such as Facebook. It has been observed that company is active in using social media networking site for promotion purpose. Besides this, by the use of social media advertising, company is in a better position to target its customers and their latent choice. For better positioning of the company in social media market, the company has appointed KRDS Singapore to design the company’s website and create creative stories on social media like Facebook, Twitter and Instagram to influence the people to purchase the goods offered by the company. Meiji Diaries Corporation limited advertises its products by using stories, blogs etc on social networking sites (Tungate, 2007).
The company is also involved in newspaper advertising; the example of this is as follows:
(Coloribus, 2012)
By using modern techniques of advertising, promoting and marketing, the company is able to have a large systematic data of interested consumers that would lead to increase in the company earnings (Shaver & An, 2014).
The main objective of public relation tool is to seek attention is its customers, gain their trust and loyalty. Increase in public relation tool will lead to increase in goodwill of the company. Meiji dairies corporation limited, has involved into public relations by engaging into print media, broadcast media, and other media like website, exhibitions etc. The company is also advertises its products on you tube (Quetta, 2016).
Example of Facebook advertising by company, (Facebook, 2017).
Example of you tube advertising (Youtube, 2016).
By applying 4P marketing strategy, the company has gained a lot of marketing share by focusing on price, product and promotional strategy (Goi, 2009). But it is criticized as it focuses only from the company point of view and ignores the customer expectations (Meiji). Besides this, it does not provide any importance over building the customer relationships. Newspaper advertising is adopted by the company, due to the reason of reach of wide consumers, but for Meiji Dairies Corporation limited, it does not seem as a good choice. The reason behind this is, use of newspaper advertising has leaded the revenue decrease by 1.3% in 2011 as compared to previous year 2010. Online advertising is used by the company as a promotional tool for increasing the convenience, reach, cost effectiveness, enabling personalization and increase the relationship with customers.
The use of online advertising is considered as profitable investment that is it has leaded the company to increase in its revenue by 10.8% in 2010. Hence it can be said that online advertising helps a lot to company in increasing its brand image as well as increasing the customer base. Magazine advertising benefits the company in terms of displaying the image of company in a creative and innovative way. One of most advantage of providing magazine advertising is that they are very eye catching. The critic of providing magazine advertising for Meiji Dairies Corporation limited is that it concentrates only on a specific market. This can be understood as, if the company has decided to focus on niche marketing, then magazine advertising can give the company desired results. Hence this advertising tool cannot be considered profitable for the company. Social media advertising is used by the company because of cost effectiveness, reach of wide number of consumers at lesser cost. In case of applying social media advertising the company has used you tube, and Facebook advertising. But it has been observed that company is not active in implementing such strategies into its operations (Youtube, 2015).
By analyzing the report on Meiji marketing strategies, it can be said that the company has adopted good strategies for advertising its goods and services. But to increase the brand positioning in the mind of consumers and to better compete with the competitors of the company such as Morinaga milk industry company limited, the company must redefine its strategies, and invest in growing markets. This would help the company in strengthening its business and would create values for its customers. Along with company can also enter into online marketing. It has been observed that company is not so active on online media; hence to enhance the customer base, the company is recommended to enter into online platform to provide its customer a facility of purchasing the food products. Furthermore, Meiji Dairies corporation limited can also indulge into scarcity marketing, the reason behind this is, it has been observed that company products are widely available, hence sometimes customer see this as granted, hence to generate curiosity among customers the company must do some scarcity marketing (Preko, 2012). Besides applying advertising strategies to Asian market, it is recommended for the company to expand its customer base, and enter into global market. This will increase the company brand image, goodwill and would lead to increase the revenues.
Conclusion
The Meiji Dairies Corporation limited deals in providing milk products in Asian region. By analyzing over the report on advertising strategies on Meiji Dairies Corporation limited, it can be said that the company besides focusing on marketing strategies also focus on in improving the brand value, enhancing the competitive advantage and quality control techniques. Apart from this, it has also been observed that modern marketing strategies lead to more benefits as compare to traditional promotional strategies. But in implementing online promotional strategies, it has been observed that company is not active in using its social media tool. ence to achieve all the desired targets set by the management, company should fully utilize its resources.
References
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