Case Study on New York National Lottery
Statement of Problem
The purpose of this correspondence is to outline the recommendations, strategies, and cost of increasing the stature of the lottery in the market as well as bringing more clients. Deb Taeschler is confident of winning the chance of presenting the national lottery advertisement.
Background
Lottery in New York was suffering from negative perceptions of clients. Developing a marketing strategy was a burden, and an advertising firm was required to improve marketing. The New Jersey Lottery was attempting to overcome the challenges of negative perception from the public. An umbrella campaign on a product mix was proving ineffective, and brand equity was required, and only a vigilant campaign would provide a solution. The poor brand image meant that clients need more information and assurance that involvement in the lottery was necessary. Besides, the communication of the mission statement was becoming a challenge to the company, and the company had to look for an alternative. Deb Taeschler was the most preferred advertising company and is required to bring several solutions. The marketing objectives are developed before the introduction of the product to the market.
Discussion of Alternatives
Objectives associated with the lottery product are aimed at improving marketing ability while increasing the number of clients soon. First, the existing and loyal clients are considered in a bid to enhance sales in mature lottery products among the current customers. Secondly, a proposal is made to introduce online and instant purchase of gaming tickets while making adjustments to the current games. Also, additional research is required in a bid to assess the requirement for new products as well as checking the cannibalization and demographics of the current gaming strategies. A new game is also on the proposal from scratch, and Grafica Inc. is determined to achieve all the objectives.
New York National Lottery has received negative perception, and thus, alternative solutions are required. Grafica Inc. produces a series of alternatives to the issue affecting the lottery firm. The objectives of the National Lottery were not achievable due to the lost momentum among clients. Deb Taeschler offers two alternative options. First, a conservative approach is proposed where most time will be utilized towards creating a hard-hitting and creative strategy around the spade game. The second option involved creating an umbrella campaign for the entire lottery product, although the choice was risky. Generally, the second option will have the first option within it, and the spade game will be integrated into the entire marketing plan. Taeschler does not overlook the work needed to come up with a whole marketing plan.
Recommendations
Clients form the central part of the success of a firm. New York National Lottery is in an urgent need to revive its marketing strategy and overcome the challenges brought by negative perception. When the firm takes the options by Grafica Inc., several recommendations have to be considered. First, the introduction of a new game does not guarantee client satisfaction. Instead, the firm should consider addressing the cause for negative perceptions of clients. The clients might have incurred a loss from previous products and would be cautious while accepting a new product. The product should be introduced after analyzing feedback from the client network.
Moreover, the second available option is risky, and caution should be practiced before moving on with the decision. The company is recovering from negative perception, and thus, risk has been the norm for the firm. First, the work needed to come up with the new plan should not be overlooked because the costs may not be necessary. Moreover, economies of scale may lead to a need for transformed actions because the firm is working towards making profits. Therefore, a risk management plan should be developed in a bid to protect the company from unnecessary risk.
Action Plan
The best action to take is to consider the objectives of the firm and come up with strategies to achieve them. First, clients are engaged to come up with a new product that takes into consideration the interests of both parties. Moreover, the proposed games will be made innovative to motivate the development of the client network.
The other action is to come up with innovative and direct marketing programs. The attempts will give a more productive relationship with customers to avoid further negative perspectives. The restricted budget will not be seen as an excuse for failure to come up with the https://sharksavewriters.com/maenani-marrotte-realtor-bio-2/campaign. Moreover, the actions taken will be taken cautiously to avoid a scenario where they might appear as a condemnation to the New York National Lottery.
The correlation between increasing ticket sales and increasing marketing focus on the new products will be accessed. The umbrella campaign will, however, consider the performance of both new and existing games. Moreover, the combination of marketing plans for new and current is essential in ensuring that the falling sales are arrested and that the firm is not exposed to further risk. A communication mix is crucial in that the sales for new and existing products will balance the deviation from customer expectation.
Contingency Plan
The action plan and recommendations may not always go as per the policy. However, strategies are put in place to counter any possible deviations. First, the clients may fail to give substantial feedback on the need for a new product. The alternative will be to go on with the umbrella campaign for the existing production. However, caution is taken in the way the clients are approached so that positive feedback is obtained.
Another deviation could come in where the risk faced in introducing a new product is more than the expected return. A risk management strategy will be put in place to ensure that the risk accepted is sensible for the introduced product. Moreover, more products will be introduced to get a benefit of diversification so that the interests of different classes of customers are considered.
In closing, the correspondence provides recommendations, action plans, and strategies for the successful advertisement of New York National Lottery products. The suggestions are, however, based on a personal point of view and might differ from other proposed recommendations. The decision to choose Grafica Inc. is a significant step in enjoying the excellent reputation associated with the advertising firm. The fading reputation of the New York National Lottery requires strategic marketing plans so that the lottery firm gets back to its original reputation. Generally, the success of a marketing strategy depends on the reputation of a firm in the eyes of customers.