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IMC > Chapter 8 > Flashcards

Chapter 8 Flashcards

1
Q

advertising plan

A

A plan that specifies the thinking and tasks needed to conceive and implement an effective advertising effort

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2
Q

The Advertising Plan

A

Introduction

Situation Analysis

Objectives

Budgeting

Strategy

Execution

Evaluation

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3
Q
  1. Introduction
A

consists of a executive summary and an overview
executive summary = 2 paragraphs - 1 pg., stating most important aspects of plan
overview = a few paragraphs - a few pages, setting out what is to be covered in the plan and highlighting context

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4
Q
  1. Situation Analysis
A

In an advertising plan, the section in which the advertiser lays out the most important factors that define the situation/market and then explains the importance of each factor

could include, demographic, technology, social and cultural, economic, political/regulatory factors that influence the brand’s situation
focusing on key factors that describe the situation and how they relate to the advertising and IBP decision in the plan
Knowing which generation(s) and what other elements to include in your targeting decisions is critical in your situation analysis

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5
Q

SA: Cultural Context

A

we have an inadvertent cultural comfort zone

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6
Q

Ethnocentrism

A

The tendency to view and value things from the perspective of one’s own culture

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7
Q

self-reference criterion (SRC)

A

The unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions

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8
Q

SA: Historical Context

A

advertising agency and brand’s management should be familiar with the history of the industry and competitive dynamics, the brand, the corporate culture, critical moments in the company’s pst, it’s big mistakes, and big successes
the past has a significant impact
knowing why things worked or why they flopped - but not completely relying on this as things change

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9
Q

SA: Industry Analysis

A

In an advertising plan, the section that focuses on developments and trends within an industry and on any other factors that may make a difference in how an advertiser proceeds with an advertising plan

the analysis should enumerate and discuss the most important aspects of a given industry, including the supply side of the supply-demand equation
food industry sees a lot of changes in consumer preferences (ex. gluten free trend)

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10
Q

SA: Market Analysis

A

Complements the industry analysis, emphasizing the demand side of the equation, where an advertiser examines the factors that drive and determine the market for the firm’s product or service
need to decide what the market is for a product category
don’t look at current users alone (ignoring the consumers who might be entering market category through certain factor changes)

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11
Q

SA: Competitor Analysis

A

In an advertising plan, the section that discusses who the competitors are, outlining their strengths, weaknesses, tendencies, and any threats they pose
don’t limit to current competitors - consider potential competition from different industries or start ups

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12
Q
  1. Objectives
A

advertising objectives lay the framework for the subsequent tasks in an advertising plan and take many different forms
objectives identify the goals of the advertisers in concrete terms

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13
Q

Obj: to increase consumer awareness of and curiosity about its brand

A

social media offers great opportunities for brand strategists to engage consumers and create brand awareness
it is measurable digital engagement

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14
Q

Brand awareness

A

An indicator of consumer knowledge about the existence of the brand and how easily that knowledge can be retrieved from memory

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15
Q

Top-of-the-mind awareness

A

Keen consumer awareness of a certain brand, indicated by listing that brand first when asked to name a number of brands (ease of retrieval)

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16
Q

Obj: to change consumers’ beliefs or attitudes about its brand

A

one way to change attitudes is to give them information designed to alter their beliefs
give info that suggests consumers go somewhere specific to request more info
in many cases, putting your product front and centre

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17
Q

Obj: to influence the purchase intent of customers and potential customers

A

.

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18
Q

Purchase intent

A

A measure of whether or not a consumer intends to buy a product or service in the near future
intent is closer to actual behaviour, thus closer to the desired sale, than attitudes

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19
Q

Obj: to stimulate trial use of the brand

A

sometimes the best we can ask of advertising is to encourage the consumer to try our brand
for new products, stimulating trial usage is critically important
trial is facilitated by a variety of IBP tools (coupons, rebates, free samples, premium offers)

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20
Q

Trial usage

A

An advertising objective to get consumers to use a product new to them on a trial basis

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21
Q

Obj: to convert one-time brand users into repeat purchasers

A

IBP tools for this: in-package coupons ab rebates on initial purchases

22
Q

Repeat purchase

A

A second purchase of a new product after trying it for the first time

23
Q

Obj: to switch consumers from a competing brand to its brand

A

the most competitively aggressive objective

persuading consumers to switch brands can be a long and expensive task

24
Q

Brand switching

A

An advertising objective in which a campaign is designed to encourage customers to switch from their established brand

25
Q

Obj: to increase sales (which is not, strictly speaking, an appropriate objective for advertising alone to achieve)

A

this is actually a marketing plan objective, not an advertising plan objective
only the right product, strategically priced, with proper distribution, and then supported by effective advertising and promotion, has the potential to increase sales

26
Q

Communications versus Sales Objectives

A
  1. Establish a quantitative benchmark
  2. Specify measurement methods and criteria for success
  3. Specify a time frame
27
Q

a. Establish a quantitative benchmark

A

advertising planners should begin with quantified measures of the current status of market share, awareness, attitude, etc.
requires a knowledge of the level of variables of interest before and after an advertising effort
ex.) “Increase the market share of heavy users of the product category using our brand from 22 to 25 percent”

28
Q

b. Specify measurement methods and criteria for success

A

factors being measured need to be directly related to the objectives being pursued
ex.) If increased awareness is the goal, then change in consumer awareness is the legitimate measure of success

29
Q

c. Specify a time frame

A

objectives for advertising should include a statement of the period of time allowed for the desired results to occur
time period for accomplishment of an objective and the related measurement period must be stated in advance in the ad plan

30
Q
  1. Budgeting
A

one of the most challenging tasks
Within a firm, budget recommendations come up through the ranks; for example, from a brand manager to a category manager and ultimately to the executive in charge of marketing
In some cases, a firm will rely on its advertising agency to make recommendations regarding the size of the advertising budget

31
Q

Bdgt: Percentage of Sales approach

A

An advertising budgeting approach that calculates the advertising budget based on a percentage of the prior year’s sales or the projected year’s sales

2-12%

advantage: simplicity
disadvantages:
when sales are decreasing, advertising budget automatically declines (even though they might need it the most when sales are going down)
can result in overspending in advertising
does not relate advertising and IBP dollars to objectives

32
Q

Bdgt: Share of Market/Share of Voice

A

Percent of the total advertising in a category (e.g., autos) spent by one brand (e.g., Ford)
this method often used when a new product is introduced
suggestion that some multiple of your desired firs-year market share (often 2.5-4 times) should be spent in terms of share-of-voice advertising expenditures

disadvantages:
difficult to access to information on competitors’ spending
no reason to believe that competitors are spending their money wisely
assumption that every advertising/IBP effort is of the same quality and will have the same effect from a creative-execution standpoint

33
Q

Bdgt: Response Models

A

response models provide useful information on what a given company’s advertising response function looks like

Using marginal analysis, an advertiser would continue spending on advertising as long as its marginal spending was exceeded by marginal sales

34
Q

advertising response function

A

A mathematical relationship based on marginal analysis that associates dollars spent on advertising and sales generated; sometimes used to help establish an advertising budget
Using marginal analysis, an advertiser would continue spending on advertising as long as its marginal spending was exceeded by marginal sales

35
Q

Objective and Task

A

This method begins with the stated objectives for a campaign - goals related to production costs, target audience reach, message effects, behavioural effects, media placement, duration of the effort, and the like are specified
then budget is formulated by identifying the specific tasks necessary to achieve different aspects of the objectives

36
Q

objective-and-task approach

A

A method of advertising budgeting that focuses on the relationship between spending and advertising objectives by identifying the specific tasks necessary to achieve different aspects of the advertising objectives

37
Q

Implementing the Objective-and-Task Budgeting Method

A
  1. Determine Costs Based on Build-Up Analysis
  2. Compare Costs against Industry and Corporate Benchmarks
  3. Reconcile and Modify the Budget
  4. Determine a Time Frame for Payout
38
Q

1a. Determine Costs Based on Build-Up Analysis: build-up analysis

A

A method of building up the expenditure levels of various tasks to help establish an advertising budget

39
Q

Build-up Analysis: the following factors must be considered in terms of cost:

A

Reach = The geographic and demographic exposure the advertising is to achieve

Frequency = The number of exposures required to accomplish desired objectives

Time frame = Estimate when communications will occur and during what time period

Production costs = The decision maker can rely on creative personnel and producers to estimate the costs associated with the planned execution of advertisements

Media expenditures = Given the preceding factors, the advertiser can now define the appropriate media, media mix, and frequency of insertions that will directly address objectives set earlier. Difference in geographic and digital and mobile strategies are considered.

Ancillary costs = There will be a variety of related costs not directly accounted for in the preceding factors. Prominent among these are costs associated with advertising to the trade and specialized research unique to the campaign.

Integrating other promotional costs = In this era of advertising and IBP, sometimes it is the novel promotion that delivers the best bang for the buck. New and improved forms of brand promotion must also be considered as part of the planning and budgeting process

40
Q

2b. Compare Costs against Industry and Corporate Benchmarks

A

after build-up analysis, advertiser should check the percentage of sales that the estimates set of costs represents relative to industry standards
comparing current budget to prior budgets

41
Q

3c. Reconcile and Modify the Budget

A

To avoid major modifications to the ad budget, it’s important to be familiar with corporate policy and financial resources at the outset while setting objectives and planning tasks

42
Q

4d. Determine a Time Frame for Payout

A

know when the funding for tasks should not be made available

Travel expenses, production expenses, and media time and space are tied to specific calendar dates

43
Q
  1. Strategy
A

Strategy represents the mechanism by which something is to be done, the means to the end (accomplishing the objectives)
strategy formulation is a creative endeavour with input from diverse sources

44
Q
  1. Execution
A

the actual “doing”
making and placing ads across all media as well as coordinating IBP actives to achieve synergistic results
2 elements: determine the copy strategy and devising a media plan

45
Q

6a. Copy Strategy

A

consists of copy objectives and methods or tactics

objectives: what the advertiser intends to accomplish in headlines, subheads and text
methods: describe how objectives will be achieved

46
Q

6b. Media Plan

A

The media plan specifies exactly where ads will be placed and what strategy is behind their placement

47
Q

6c. Integrated Brand Promotion

A

other forms of brand promotion may accompany the advertising effort in launching or maintaining a brand
integration of all communication tools

48
Q
  1. Evaluation
A

where an advertiser determines how it will measure the results of the plan’s advertising and IBP activities
varies on what objectives are used

49
Q

The Role of the Agency in Planning Advertising and IBP

A

advertiser should identify externally the opportunities and threats that can be addressed when advertising
bring a well-articulated statement of a brand’s value proposition
some take an active role in helping the client formulate the marketing plan
advertisers need help from agencies in 2 areas:
Integration
To provide new ideas and fresh approaches to break through clutter

50
Q

2 things clients must do to help everyone cope with resource issues:

A

get agency involved early in the planning process so they are well-informed about dates and deadlines
agency needs honest, upfront assessments regarding budget to avoid any last-minutes disruptions

IMC (5 decks)

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