Industry Analysis and Trends
Neway
Interactive Marketing is well positioned to address and master the most unique
requests and requirements of their clientele. The company is functioning at
full capacity due to it achieving the Best Advertisment of the Year two years
in a row. The company has experienced an increase in clientele after they one
this award both years.
In this market, there is an opportunity to partner with
governmental agencies that are in need of advertising services. This can create
a long lasting partnership as a contractor. Additionally, the company has the
opportunity to expand its advertising mediums to include transit advertising
and digital billboards. Additionally, the company can start attending trade
shows, conventions, and expos to showcase their product and services. This will
also give the company an opportunity to see what the competition has to offer.
The threats that would create a barrier for the business to
enter successfully is our financial issues. The company is currently having
difficulty breaking even and paying the operational expenses. Another threat
could include ensuring that the advertisements created do not include
trademarked or copyright content without receiving proper approval.
Today, almost everyone has a smartphone. Video advertising is
said to increase due to consumers changing their viewing habits. Consumers are
spending an exceptional amount of their time watching videos. This is means
that video advertising is a very essential advertising medium that every
advertisement created by Neway should include.
Target Market
The market that Neway Interactive Advertising will be entering
in is a competitive that knows how to identify their target audience. As a
whole, Newway will be targeting a variety of target audience based on the
client’s brand. We understand that every service or product appeals to a
different market. This means that some consumers fit in a broader market and
some do not.
The trends are leading to everything digital. This includes
transit advertisements, mobile advertisements, and digital billboards. The
market size is about 100,000 people. In 2014, the United States spending $189
billion dollars in advertising media. This includes digital and mobile Internet
advertisements).
http://www.emarketer.com/Article/Advertisers-Will-Spend-Nearly-600-Billion-Worldwide-2015/1011691
Our customers are the
users of these products and services. The consumer profile is a male
professionals, entrepreneurs, and degree holders between the age of 25-50 years
old in the Mid West areas.
The market is ready for this business. Many companies are
producing their own advertisements that are low quality and are hurting their
brand and image. The market is ready for a multimedia advertising company that
can handle the demands of the client while building their brand and image. The
market currently has a number of advertising firms all that specialize in
different areas and offer different resources. Some offer training and strategy
building classes to businesses.
The advantage that the business has with the target market is
the know-how and flexibility in project ideas. We have worked with over 100
businesses that all wanted something different. We are ready and are willing to
overcome any challenges that a business faces when making their ideal
advertisements.
The Competition
There are a number of close competitors in the
Los Angeles area. Three key competitors in my area that offer similar services
and products as my business are Dailey & Associates, Miller Group Marketing
and Advertising, and the Davis Elen Advertising.
Daily & Associates is a advertising
company that offers full-service creative advertisements. They are known for
telling “memorable brand stories for almost 50 years.” This company is not willing
to travel to clients that are not in their local area. Neway Interactive
Advertisements will willingly and at no additional expense to the client,
travel to the client if they are not in the Los Angeles area.
The Miller Marketing and Advertising is a
company that creating advertisements and marketing strategies that connect the
brand’s ideas with their consumers. They specialize in advertising, branding,
research, social, mobile, and digital. They do not process the secret six-step
process that is now Neway’s trade secret. Neway is leading its clients in the
right direction by making all advertisements using the six-step process.
Davis Elen Advertising is a company that
produces advertising content. They specialize in partnering with large-scale companies
that have established long term contracts with the business. An advantage that
Neway has over Dale Elen Advertising is our opportunity to utilize a think tank
lab that is equip with the most high tech and cutting edge technology and
software to make any advertisement known to man.
The barrier that is faced when trying to compete with current
competition is assuring new client that our services will reign supreme. Many
clients are loyal to their advertising companies because they have not tried
any other business. Additionally, reaching the correct contact person in a
business is sometimes difficult for a start-up business.
Neway can meet the needs over the competitors by staying current
and constantly providing shareable content on social media.
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