Paper Example on Marketing Mix: Google Daydream Virtual Reality

Introduction

The market segments that would potentially offer the most reliable and active clients encompass children who prefer playing video games, as well as individuals who sell similar games. The Google will need to consider these segments while supplying the products and ensuring individuals appreciate operations of the two markets. To achieve this, the company will appoint agents in regions with a dense population of children interested in exploring the world to understand what it offers. More importantly, the company will conduct campaign awareness to ensure that every movie theatre understands, as this will enable them to make customers buy or use the devices once they visit movie shops.

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Google Daydream Virtual Reality will target children who ultimately will offer the required market regarding the use of the device described above. Children are the targeted customers as they are often absorbed in entertainment and they will be happy that they are absorbed in playing games using android phones. The major traits of the targeted customers are that they are playful and constantly search for something to entertain them. These customers prefer playing excessively and thus the device will provide them with the platform in which the play is performed differently. In this particular case, the customers encompass adolescence and below who have not attained full maturity and look for something that complements their traits.

For the purposes of differentiation, the company distinguishes target markets to understand how they gain information regarding the product being offered. To attain this, it will conduct advertisement to demonstrate how the product works so that target customers can view such information on the television and gain interest in the products. Secondly, it will avail the products to various video game shops and allow children to use them free. Doing this will enable the target customers to understand what it feels to use the device. In so doing, Google will incorporate the brand into the minds of the target customers in the market.

Intuitively, a new value proposition that will be appropriate for the target market described above is that the target customers will be in a position to lower the number of devices connected to given PC to play the video games (). This will also enable salespersons to attract many customers thus maximizing revenues. In this particular case, the positioning statement is that "the fact that the device will facilitate virtual aspects in three ways that significantly differ from whatever has been depicted in the movie shops where only a single form of the virtual element is depicted.

Marketing Mix Strategies

Product

The product is the most critical element of marketing mix. It refers to anything that can be taken to the market for acquisition, attention or consumption in a bid to satisfy consumers' needs (Borden 1964). Product decisions entail deciding on specific services or goods should be offered to a particular group of buyers. It also entails product lines, differentiation, branding, as well as, image positioning (Constantinides 2006). Because of the rapid technological advancement and changes in tastes and preferences of consumers, Google is constantly updating its products, particularly Google Daydream Virtual Reality by including more features to fulfill needs and wants of customers. Principally, Google Daydream Virtual Reality has been developed as the runway where Google's software and hardware VR plans will be deployed (Guta 2016).

Reports indicate that Google Incorporation launched its most current Android Operating System that renders headsets, phones, as well as, controllers Daydream well-matched (Hendricks 2017). However, the critical feature of Google Daydream Virtual Reality is that it is considered to belong to the same product line as devices described above since it is obtained from the same product with same customer segments, physical characteristics, distribution channels, customer segments, promotional campaigns, as well as, pricing techniques. Nonetheless, the critical feature that makes the device different from other products in the same line is its innovations especially Android VR mode that enables users to explore various VR versions of various apps such as Street View, YouTube, Play Movies and Google Play Store.

Some of the distinctive features of Google Daydream Virtual Reality that makes it essential in the market are its ability to unlock great opportunities for virtual advertisements to flourish. Recent studies have revealed that customers engage with virtual reality advertisements at amazing rates as compare to advertisements on desktops and mobile applications (Rafiq & Ahmed 1995). Therefore, Google Daydream Virtual Reality is likely to increase the market base for movie lovers and customers who prefer advertising their products virtually. Secondly, the product creates a completely different means of reaching and engaging with customers. Reportedly, Google Daydream Virtual Reality is the next step in the evolution of consumer touchpoints and media screens. It will allow new forms of immersive storytelling, creativity, as well as, appropriate means of linking up with potential consumers through advertisement platform that users might enjoy.

Promotional Mix

Promotion often encompasses personal selling, advertising, direct marketing, and sales promotion that an organization employs to pursue its marketing and advertising objectives. Principally, Google Company will gain awareness of its target customers by carrying out a promotion to Daydream Virtual Reality through internet marketing, sponsorship, and advertising. Reports indicate that internet marketing is one of the appropriate ways to advertise the device (Goi 2009. Here, the company will advertise the product through social media platforms to inform customers about the product, explain to them uses of the products, and potential benefits of using the product. Secondly, the company will perform search engine marketing and optimization to enable the product and its website to appear on various lists of search engine results. Here, the company will ensure that the name of the product appears in different search engine results of movies and games they search online. Intuitively, with a strong SEO strategy, the company's website will link to the keywords used to allocate the product thus increasing the chances of the product being selected and purchased by different customers.

The company will launch TV commercials to inform children about its innovative device (Daydream Virtual Reality) that can fulfill their entertainment and information sharing needs. Intuitively, the company will focus on advertising critical features of the device such as its benefits, uses, and costs to target customers. Similarly, the company will use press releases and blogs to post information about the device in different web pages. At the same time, it will carry out a strategic partnership with movie sellers to offer the device various locations that can later be downloaded through laptops. More importantly, the organization will use almost all forms of advertising to inform and gain the attention of the target customers, as it will regularly publish the device on billboards, newspapers, and Television. Similar to conventions to introduce new products, the organization will advertise its products through major channels such as Maxim, Fox, MTV, in-store promotion to provide the target customers with the chance to test and touch the products. The company's adverts will point out the differentiating features of the device and are uniqueness. Reportedly, media releases during movie shows are smart promotional ways that the company will use to advertise the product (Yoo, Donthu, & and Lee 2000). In addition, the company will use millions of reviews and marketing websites to promote it is the device.

Pricing Strategies

Price is one of the elements of marketing mix, which are essential in marketing. The appropriate pricing enables an organization to generate revenues (Van Waterschoot, & Van den Bulte 1992). Google Inc. will employ premium pricing and skimming pricing strategies to penetrate the market. Given that Google Daydream Virtual Reality is a new product, price skimming will be critical, as it will enable the company to recover research and making expenses related to the development of new product.

To introduce this new product to the market, the company will use early adopters as brand evangelists as they are willing to pay increased prices for the products. As initial buyers, early adopters often pay for higher prices for the product since they want the devices immediately. Intuitively, the buzz that early adopters will generate will increase sales and assist in branding the product further. On price skimming, the company will sell the newly introduced product (Daydream Virtual Reality) at relatively high prices due to its uniqueness, benefits to clients or Wow factor. However, after the product has been adopted in the market, it will drop the price until the device is brought at competitive pricing. Further, due to the high price that will be charged on the product, the company will obtain positioning to assist it to reach the appropriate target customers.

Conclusion

Google will use a myriad of pricing, product and promotional strategies to sell its product (Daydream Virtual Reality). With these marketing mix strategies, the first implication is the orientation towards fulfilling needs and wants of customers thereby increasing customer satisfaction. These marketing mix strategies also have critical implications for product promotion and design. In particular, they enable Google to ensure that features of the product meet the needs of the customers. Rather than persuading buyers to purchase the product that the company has, using marketing mix strategies enables the company to provide customers with the product that suit its target market thus promoting innovation and product quality. More importantly, with improved customer satisfaction coupled with the high-quality innovative product, Google is likely to increase its profitability and sales. The marketing mix strategies described herein project the growing demand based on the market research and allow the company meet such needs. On the same note, the marketing mix strategies especially pricing strategies identify the specific price that buyers in the target market are willing and able to pay the product to be introduced. Therefore, well-planned marketing mix strategies enable the company to plan for increased production while lowering costs by doing away with costly product features that are not valued by target customers.

Reference List

Borden, N.H., 1964. The concept of the marketing mix. Journal of advertising research, 4(2), pp.2-7.

Constantinides, E., 2006. The marketing mix revisited: towards the 21st-century marketing. Journal of marketing management, 22(3-4), pp.407-438.

Goi, C.L., 2009. A review of the marketing mix: 4Ps or more? International journal of marketing studies, 1(1), p.2.

Guta, M. (2016, June 15). Google Daydream Aims to Make Virtual Reality Mobile - Small Business Trends. Retrieved May 17, 2018, from https://smallbiztrends.com/2016/06/what-is-google-daydream.html

Hendricks, D. (2017). VR Is Evolving: How Startups Can integrate it Into Their Marketing Mix. Retrieved May 17, 2018, from https://www.inc.com/drew-hendricks/vr-is-evolving-how-startups-can-integrate-it-into-their-marketing-mix.html

Rafiq, M. and Ahmed, P.K., 1995. Using the 7Ps as a generic marketing mix: an exploratory survey of UK and European marketing academics. marketing intelligence & planning, 13(9), pp.4-15.

Van Waterschoot, W. and Van den Bulte, C., 1992. The 4P classific...