Alternative Marketing Strategies for Crayons Essay
The highly competitive crayons market has been leading the sales of our brand to slip. Action needs to be taken to avoid our brand from vanishing from the market. However, reasonable care should be taken in the strategies that will be taken because the quality and integrity of the product should not be compromised. There are eight alternative strategies that we can test and implement to market our crayons. New market or segment. Crayons have always been marketed for children as they are the ones who widely use it.
They use it at home or in school; in studying or at play. To boost sales, we can start marketing our crayons to other markets, such as parents. A way to tap on the adult market is by using a soft sell approach. Adults who have children will definitely get good use of crayons to spend quality time and bond with each other. In using this premise, we are tapping on our old market while creating a new segment as well. Improving for the current market. We can also make improvements of our product for our current market.
We can create age-specific and use-specific crayons like how competitors do, such as making big
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Apart from the different colors the ease of use can also be appealing, contrary to the technical knowledge required in applying colorful presentation marks when one uses presentation software. Using crayons on canvass can also be considerably cheaper rather than investing on software, which can be good for starting companies. However, we need to tweak the look of the product to match its new use. It has to look more professional, from the packaging to the wrapping, as well as with other aspects.
If financially feasible, the best option is to put the crayons in plastic tubes and make them retractable. Changing the price. Pricing strategies is also an alternative route. We can lower the price of our crayons, yet we need to save on production costs to do so without incurring losses. Cuts on production costs can be made in terms of packaging such as looking for cheaper supplies for boxes or wrappers. We can then boast of a new look and a lower price which can be attractive to customers. Changing the packaging. A new look can also refresh the image of our crayons.
We can create a more colorful yet polished packaging for our crayons, and even create interactive packaging which has games or puzzles printed on them. This is a nice trick which worked for cereal and cookie boxes, which can also be adopted for crayon boxes. Finding new distribution outlets. While we currently enjoy a comprehensive roster of distribution outlets, the slipping sales prove that the existing outlets are becoming far more competitive than when we started. Thus, we need to look at new outlets and distributors to sell our crayons.
One possibility that can be studied is an offshore distribution. We can look for contacts in other states and even other countries where our crayons are not yet being sold and create agreements with these contacts as to the distribution of our crayons. This will expand the reach that we can enjoy with the current market that we have. Changing promotion tactics. The regular crayon is promoted to kids through commercials and advertisements. We need to diverge from this if we want to stand out. There are more ways to promote our crayons instead of spending on expensive advertisements.
We can create art workshops for kids which can boost brand register and sales as well while promoting creativity among children. We can also sponsor activities and events related to kids such as toy conventions and art conventions. Changing advertising. Lastly, one way to market our crayons is through new advertising campaigns. We need to be more creative, more colorful, and livelier than how we advertised before. What we want to achieve is brand recognition so that when kids and parents realize that they need or want some crayons, our brand is one among the first ones that come into mind.
We can venture into interactive advertising where viewers or readers of our advertisement can call a number and get a discount coupon, a coupon for buying our crayons in a limited-edition box, or a rebate certificate. These are the alternative strategies that we can utilize to boost the sales of our crayons. We can choose one or two, or make a combination of each, and study what formula is best for our brand. Making the crayons shorter, or modifying the ingredients of the crayons to save on costs and get profit should never be an option. Sales should be raised by being creative and innovative, which is what are crayons are known for.