Marketing Strategies Penetration – Nkjv Bible Dr. 11/04/99 TR 2:30-3:45 Marketing Strategies Penetration Thomas Nelson uses different marketing strategies to penetrate the market to increase sales. The NKJV Bible is aggressively marketed when the product falls short of sales goals or the company is trying to break into a new market. They use strategies such as paying Christian music groups to encourage and sell the Bible while they are on tour singing. The most important strategy is the NKJV relaunch. This technique is a promotional that pushes extra advertising through different avenues such as bookstore displays, magazines (Christian retail and consumer magazines), increasing advertising on TV/Radio, and direct mailing.
Market Development The NKJV Bible has covered all the markets that were intended by Thomas Nelson. Unless something new occurs in the industry they cannot sell there. The product is at a mature stage of development. They have different market divisions that sell the Bible all over the world. The International Division sells translated versions into other languages.
The Trade Division sells the NKJV to bookstores everywhere with an established relationship. The Mass Marketing Division sells the NKJV to businesses, non-profit and profit, and all ministries. The Direct Division sells the NKJV through telemarketing and direct mailing. Product Development Thomas Nelson is always trying to find out new and improved ways to satisfy the customer through product development. The Marketing Division team is constantly studying the market and researching what products they like and how to fulfill consumer needs.
During this process the Publishing Division meets with the Sales Division to find out what the consumer needs. After this is done they take a new idea to the board. One of the most recent developments is a new Bible for children that have a night-light so they can read it at night. Another new product is the girls Bible that has a strap like a purse. Thomas Nelson is constantly trying to find new ways to satisfy consumer needs through R&D.
Diversification Thomas Nelson has a wide variety of products that help diversify what they sell. They sell many different styles of the NKJV Bible such as the adult version, a child’s version, and a Bible for toddlers. They also sell Bibles for certain denominations like the Catholic Bible and the Greek Orthodox Bible. Each Bible can be found in different age groups for better understanding and are all printed in different translations such as the NKJV, NIV, REB, and the NRSV. Thomas Nelson sells many other books for adults and children, which are mostly Christian-related.
The company also sells items like T-shirts, videos, CD-ROMs, and other things you might find in a gift shop. Target Markets Every NKJV Bible that Thomas Nelson sells is targeted different demographically but sold together to fulfill the needs of all people with no limits. The Bible is targeted to all ages, incomes, genders, cultures, and races because its key function is to spread the gospel throughout the world. There is a good portion that targets ministries and Christians because of their faith and their use of the Bible constantly, but there is also a good portion that targets people who are unbelievers outside of the church world. The NKJV Bible is sold and offered all over the world. Thomas Nelson being the largest Christian communications company in the world. They are a global market geographically and market their Bibles in all major cities and countries in the world.
You can find these Bibles in bookstores and Christian outlets in all major cities and countries in the world. Everyone is part of the target market and it doesn’t matter what kind of activities you are involved in and what interests and opinions you have. Thomas Nelson focuses on the Christian and Non- Christian secular divisions. The psychographics of an individual does not exclude them from the target market, but they do have a division that focuses on fulfilling the needs of the church. People who are believers or false believers are a big part of the target market who are interested and are involved in activities that integrate with Bible values, such as church-going and living a daily Christian life. The behavioristic approach tends to integrate with the psychographics of the target market.
Once again, peoples’ attitudes, beliefs, perceptions, and personalities don’t exclude them from being part of the target market. People who believe are just as important as those who don’t believe. Many of the Bibles are sold to those who believe in God, people who are new in the faith, and people who want to possibly become Christians. These Bibles are not limited to any certain area or different kinds of people, the purpose of the Gospel is reach all, because the Lord’s will is that none perish. Marketing and Advertising.