FESTIVAL BUYING MARKETING MANAGEMENT ASSIGNMENT - I Submitted by, Bavya Sivashree 215111085 1 Index Introduction Festival Buying 3 Various festivals in India 3 Festival and Marketing 3 Ways to promote Festival Buying 4 Festivals of India Pongal 7 Diwali 7 Onam 8 Christmas 9 Ramzan 10 Purchase during Festive Season Jewellery 10 Gadgets and Accessories 13 Household Appliances 14 Clothing and Apparels 15 Vehicles 16 Food and Entertainment 18 Conclusion 18 Bibliography 19 2 Introduction Festival Buying Festivals form a major part and parcel of our lives. Especially in India, where every festival is celebrated with great pomp and show. Festivals also mean a particular time during which customers heavily shop. Festival – It is the buy-buy time of every year, where the Indian consumers are all out to splurge on gadgets, gifts and good times. And it is that time of the year where shops look extra bright, stocked to the hilt with wares to attract the pocket- heavy customers. The categories that perhaps sees most sales are consumer durables, clothing and apparels, vehicles and gadgets as the festival season is considered to an auspicious occasion to adorn one's home with new products. And the buying process becomes all the more lucrative with the mindboggling number of freebies, schemes, prizes. The consumers are indeed spoilt for choices. Various festivals celebrated in India Akshaya Trithi New Year Christmas Holi Diwali Onam Pongal Festival and Marketing The festival season in India has set, both online as well as local stores ready to cash on the holiday shopping rush. The sales, promotions, and discount banners can be seen across all departments – be it electronics, home appliances, or gifts. This is the shopping season when the budget loosens up. Shopping is a fun activity anyway but during festival season it gets that extra dash of excitement. Shopping forms a major part of every single festival. Therefore, for advertisers, festivals are the right time to advertise their brands amongst customers so that they get familiarized with the features and benefits of the products and are encouraged to adopt or buy them. Heavy advertising of brands is quite an observed trend amongst the various advertisers. Television advertising, radio advertising or outdoor advertising practices – all these are heavily practiced amongst advertisers during any particular festive season. The festival season has gained so much importance in the planning of sale of goods by companies. This period is considered very auspicious by most Indian consumers who do their major household buying during this festival period. Therefore, it is the best time to come up with offers and schemes. All the players focus on the same so the competition to offer the best products at best prices increase and advertising plays a major role in it. Also, both company and individuals give gifts to friends, relatives and employees, which drive growth for white goods companies. This is the reason why such companies undertake additional expenditure in an effort to catch the consumer's attention. 3 Traditionally, for most Indian consumers, the festival season that typically starts in August-September, is the time to go on a shopping spree. This is the time of discounts, and sales promotions. All the cities are dotted with hoardings that entice consumers with offers. There are „Buy One, Get Three‟ offers, „Scratch and Win‟ offers, Exchange offers and more. Ways to promote Festival Buying For a festival oriented advertisement campaign, the final brand message has to be strong and appealing enough to carry away the attention of audiences and prospective customers. Therefore, the advertising message and the medium of advertising network should also be equally influential so that customers get the brand message loud and clear and of course with the targeted impact. During a particular festival, the advertising message of the brand should also flaunt in such a manner that customers are delighted to go through it as much as they are rejoiced to celebrate the festival. Talking about the festival, its essence and representing the brand in a full-fledged festive spirit, all these tactics of brand print advertising can be implemented by an advertiser during a particular festive aura. The following are the various ways and mediums by which festival buying can be mooted.[1] 1) Mobile marketing campaigns 2) Television Commercials and Radio Advertisement 3) Offers inducing Sales Promotion 4) Promotional Fliers and Special Event Signage 5) Newsletters and Catalogues 6) Print Advertisement, Coupons 7) Web site and Email Marketing 8) Blogging and Social Networking 9) Corporate Charity : Soft Marketing and Just Good Business Mobile Marketing campaigns Highly personalized, targeted Bulk SMS campaigns provide a highly effective medium that has proven to be successful at increasing campaign revenue and improving marketing ROI during the time of festival. Television Commercials and Radio Advertisement Television and radio reach wide markets that reach targeted geographic regions. Cable television stations offer advertisement that is priced at various levels based on time slots and frequency. Sponsoring a radio program that is targeted to the demographics of the clients is also a great marketing opportunity. Example : Cadbury Festivals come and go; memories of the flamboyant celebrations remain forever. If a memorable brand message is presented amongst customers during a particular festival, customers tend to remember it in the near future. Cadbury Advertisements are most often 4 focussed on festival themes. So, customers have this near to personal feeling that when it‟s any festival, Cadbury forms a major part of the celebration. And in each and every festival, the same mentality prevails amongst customers. It is one reason why Cadbury Chocolates sell like hot-buns in Indian market especially during festivals. Offers inducing Sales promotion Festival is the time of the year again when customers takes a look at the various special offers that companies are offering each festive season. It is recommended that during festive period, organizations should take full advantage by developing an effective and efficient sales promotion campaign that can arouse the consumers awareness, thereby leading to greater purchase of their products. Offer by Whirlpool Consumer durable major Whirlpool launched the 'Chance Loge ya Whirlpool' promotional campaign in the year 2005. The buyer gets not one but two assured gifts that range from a Cygnus diamond pendant to an Addidas drum bag, together with a two-days- three-nights holiday package for a couple to a choice of 75 locations across India. Whirlpool also joined hands with publications across regions to organise daylong consumer events in 15 towns across India. [2] Promotional Fliers and Special Event Signage Fliers are used as an invitation to a special promotional event or product launch. Colour copies of the fliers would be more great and attractive. The more affordable black and white fliers, when well designed, can be just as effective. The target distribution should be towards the community and street distribution. Signage ranges from large billboard advertisements to window and in-store sign boards. Free standing sign boards can also be developed to promote special events or sales. Newsletters and Catalogues Newsletters and catalogues are great marketing tools if there is a mailing list for the clients and customers. A catalogue provides an opportunity to showcase the various products the company is selling. Print Advertisement, Coupons Print media advertisement options for products and services can be quite effective during the festive season. Options include display advertisements of varying sizes as well as classified advertisement, depending on the type of business. Coupon and Discount booklets from local businesses are popular during the holiday seasons. 5 The above diagram stresses the importance of coupons and discounts during festival time. [3] Web site and E-mail Marketing Websites offer unique marketing opportunities. E-mails are a direct way to reach existing customers and clients. During the holiday or at the start of a new season, a free e- invite card can be designed to promote an in-store event. A sales letter is sent to promote a clearance sale. The sales letter can be sent using prior customer lists by email. Blogging and Social Networking Social networking and blogging are new media soft marketing mediums. The big social networking mediums for businesses are Facebook, Twitter and LinkedIn. A business account on each has to be developed. They can be used like in-person networking. A notice can be posted if the company is running a contest or if there is an in-store event. Blogging can be integrated into a company's website and kept updated by an employee or a professional copywriter. Corporate Charity: Soft Marketing and Just Good Business Apart from the above mentioned marketing tools, the festival season also provides the best opportunity to exercise a firm's charitable arm. Community charity is not only a soft marketing tools but, more importantly, offers an opportunity to give back to the local community. A local charity can be selected to donate cash or give employees an opportunity to donate food items and volunteer time for the less fortunate. 6 Festivals of India Few of the major festivals which are celebrated in India in a great manner are as follows. Pongal Pongal is a major celebration in India and people celebrate it for about four days during the month of January. The first day is called Bhogi. Many people burn and get rid of old household items and purchase new household items on this day. This marks the start of a new cycle. The second day is Perum, also known as Surya Pongal, and is the most important day of Pongal. Many people worship the sun god, Lord Surya by offering prayers on this day. Many people also wear new clothes and women decorate houses.