Marketing Philip Morris – Thesis Paper Example
A plethora of prominent brands framework the tobacco industry, all of which strive to satisfy but a mutual customer need. Monopolies such as Brown and Williamson, Philip Morris, Lorillard and RJ Reynolds are but a few whose names are synonymous to the tobacco industry. Per se, underneath these brand names and advertisements, the product is relatively similar. Irrespective of this, through promotions and brand marketing, in the consumers’ minds, each product is unique. In line with this, this essay will center on the unique marketing strategies applied by one of the foremost competitors in this industry, Phillip Morris Inc.
The uniqueness of the marketing strategies applied by Phillip Morris Inc was conspicuous in 2002, where the company never ran a single ad of its popular brand, Marlboro, in print media. Instead, they chose a different approach to this. As opposed to renouncing the only medium available for its brand, through offers such as discounts, they targeted retail stores. A staggering $350 went into this campaign, subsequent to which they arranged events and programs that facilitated not only customer interaction, but also a means to appraise loyalty. Phillip Morris Inc, per se, came to the realization that, point of sale advertising or promotion is far more effective than magazines and other print media. This owes to the fact that, it facilitated for direct marketing of products to customers.
The company also adopted another innovative strategy, which entailed the constant working on their events and brands. Another famous strategy was the "Boot Up" lottery. In buying two packets of Marlboro, incentive was due. The incentive constituted a CD-ROM with clip art with which recipients could design individual cowboy boots. Phillip Morris designed this strategy in a bid to build equity, and with it, create excitement and news. The strategy was effective, given that, most consumers associated it with adventure and excitement.
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