Communications Plan for Benjamin Moore and Co. Inc.

STRATEGIC BRAND MANAGEMENT
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Strategic Brand Management
A prior created plan or approach that can bring success is required for digital marketing plan activity. This begins with a thorough examination of all factors that may have an impact on its development. Furthermore, when it comes to digital marketing, it is critical to get it properly, because it may make a big impact on a company's bottom line (Wall, 2020). Companies that have a blog, for example, generate 67 percent more sales than those that do not (PEALVER, 2021). In addition, communication channels are required for the success of this digital strategy. Fortunately, 55% of the planet's population has internet connectivity (PEREALV, 2021). This helps the corporate communication channels become increasingly important in the success of this initiative. This communication channel has expanded the market with over 4.2 billion users, resulting in customer happiness and profit maximization for the businesses involved. According to Forbes 2022 reports, these communication channels have led to client trends such as favoring buying from mobile phones and other technological devices, and if any market tries to promote its brand, it is advisable to develop a digital marketing plan (PEALVER, 2021). By ensuring that their material is mobile-friendly, they will avoid remaining out of this market. The digital marketing strategy, on the other hand, must be in line with the brand's goal and existing marketing infrastructure (Wall, 2020). This guarantees that the company's internet domain, target audience, channels where they should be visible, and who their counterparts are and what they do are all taken care of. Finally, in this paper, we will suggest a digital market plan for our chosen firm, Benjamin Moore and Co. Inc.
Situational Analysis
The company's internal and external analysis (SWOT analysis) is the initial step in building this digital marketing plan (O'Neill, 2022). This will help us to assess the company's and the market's weaknesses, strengths, opportunities, and threats before putting effort into our chosen sub-brand digital marketing process (O'Neill, 2022). Benjamin Moore Co. Inc. was established in 1883 in Brooklyn, New York, by Benjamin Moore and his older brother Robert M. Moore. Previously, the company only produced one coating for walls, which "Moore's" prepared Calsom finish, and supplied to independent retailers. Berkshire Hathaway Inc. now owns the company, producing applicators, commercial coatings, exterior applications, finishes, industrial coatings, interior applications, paints, paint extenders, primers, residential coatings, and wood stains, among other things ("Benjamin Moore & Co. - Company Profile, Information, Business Description, History, Background Information on Benjamin Moore & Co.", n.d.).
Today’s Benjamin Moore Co. Inc. strengths can be seen to be: its superior product quality, according to both professional painters and home-user consumer surveys. Second, leading innovation and technology in paints and coatings with the first innovations among the competition. Third, in North America, there are 4000 dealers in a comprehensive distribution channel (Apeloig, 2011). Fourth, the ability to produce environmentally friendly paints, some of which fulfill MPI (Master Painters Institute) requirements, as well as safety, environmental management, and a lower carbon footprint across the board. Also, the company has excellent customer service and product expertise in retail establishments. Finally, the brand's value and client loyalty are enhanced by its association with American historic buildings (Apeloig, 2011). Its weakness is: that the price of the product is 30% to 70% greater than that of competitors (Apeloig, 2011). Low brand recognition among the general public, particularly at lower price points. Product selections are limited and updated primers, imitation coatings, inner wood stains, and a variety of industrial paints are not available.
On the other hand, the company is exposed to various opportunities such as the need for an increased number of product lines available, such as marine and industrial paints (Apeloig, 2011). Availability of raising brand exposure through mass marketing. Finally, Warren Buffett's Berkshire Hathaway Portfolio's acquisition of the company could result in improved management guidance, higher financial backing, access to Buffett's network, and a stronger brand reputation. Furthermore, its threats include Customer lawsuits alleging that Benjamin Moore's odorless paint caused them to have to quit their home endangering the company's reputation (Apeloig, 2011). The cost of raw materials is rising and the creation by a competitor of high-quality, low-cost paints that are environmentally beneficial. Sherwin-Williams Paint, Kelly Moore Paint Company, and Behr Process Corporation are among the contenders ("Top 5 Paint Companies In The United States | Best Paint Company In The United States | 5 Best Paint Manufacturers In The United States," 2022). Therefore, given the results of the SWOT analysis, we are going to put a lot of emphasis on the paint us our sub-brand. As a result, we will talk about how it may be promoted through a digital marketing strategy that will reach more than half of all painters and interior designers in America, our new market target.
Digital Marketing Goals and Objectives
Benjamin Moore & Co. Inc has been able to mass-market its brand across America for many years, as previously described in the opportunity section. As a result, the company is the first to develop and market our sub-brand of paint. If we imagine that the corporation today wishes to expand its fame and sales through this sub-brand, particularly in some regions of big developed cities in America. Then, to accommodate this assumption, we must develop a comprehensive and successful digital plan. The goal here will be to use social media to boost brand awareness. The following actions must be taken to achieve this goal: first, the visual content will be used to engage the ordinary social media user. It will require, developing graphics or images for the company, demonstrating the various quality works of the paint, and putting them on social media platforms. Second, when publishing the suggested sub-brand (paint) on social media, the company will need to develop a distinct voice and personality. The discourse will be informal, as many people enjoy it, for us to gather enough followers who will become our customers when they get impressed with our work postings. Third, the company will ensure that when advertising the sub-brand, it employs different platforms with varied tones based on the nature of the platforms.
In addition, following industry influencers and occasionally paying them to promote the company's sub-brand through their social media accounts will be practiced regularly. This is significant since it will allow the company to communicate with those influencers’ followers through comments, responses to queries, likes, and other means. Also, the company will embrace the use of blogging as a means of sharing high-quality paint content with an audience and participating in social media groups. The company will be required to take all input seriously and incorporate it into new plans by paying close attention to brand post-experience comments, shares, and likes ("31 ways to increase brand awareness using social media - 2022", 2022). Last but not least, consistent branding across all mediums and websites will be crucial. This will prevent the audience from being confused ("31 ways to increase brand awareness using social media - 2022", 2022).
Market Strategy Process
A marketing strategy process is a company's overall plan for reaching out to potential customers and converting them into clients of their goods or services (BARONE et al., 2022). The company's value proposition, core brand message, statistics on target customer demographics, and other high-level elements are all included in a marketing strategy process. The "four Ps" of marketing—pricing, product, promotion, and place must all be covered in a comprehensive marketing strategy too (BARONE et al., 2022). In this situation, the product will be of excellent quality when compared to the other competing company's products. To achieve this the company will necessitate additional customer needs surveys to understand what they might need in particular. The corporation is expected to match client demand and provide the greatest product. This will help us avoid situations where many organizations exaggerate their digital marketing efforts for their products, but this is not the case when buyers encounter them. As a result of their disillusionment, those clients will be gone for good. The product's pricing, on the other hand, will be reviewed regularly. Before deciding on pricing for this brand, the corporation will do a survey of competitor prices as well as production costs. This will assist in ensuring that the price is customer-friendly and that the company maintains its profit after deducting all production costs. The price may or may not be lower or greater than our competitors, depending on the price forecasting management team's choice.
The third "p," promotion, can ...