Chapter 8 Planning Advertising and Integrated Brand Promotions Flashcards
what connects a marketing and advertising plan
brands value proposition
advertising plan
specifies thinking tasks and timetable needed to conceive and implement effective advertising effort
7 parts of advertising plan
introduction, situation analysis, objectives, budgeting, strategy, execution, evaluation
introduction
executive summary and overview
situation analysis
client and agency lay out most important factors that define market, consumers situation, and then explain each factor
situation analysis 4 parts
cultural and historical context, industry market and competitor analysis
cultural context - 2 biases to be succesful in international markets
ethnocentrism and self reference criterion
ethnocentrism
tendency to view and value things from the perspective of ones own culture
self reference criterion
unconscuous reference to ones own cultural values, experiences, and knowledge as a basis for decisions
historical context
history of company and brand to demonstrate extensive research
industry analysis
focuses on developments and trends within an entire industry and any other factors
market analysis
complements the industry analysis, emohasize the demand side -what drives and determines overall market
competitor analysis
determine who the competitors are to the firms brand - discuss strengths, weaknesses, tendencies, threats
objectives
identify goals in concrete terms
8 objectives
increase awareness, change attitude, influence purchase intent, stimulate trial use, convert one time to repeat users, switch consuemrs, increase sales
brand awareness
consumer knowledge
top of mind awareness
brand listed first when asked
create, change, or reinforce attitudes
alter beliefs
purchase intent
ask customers if they intend to buy a product in the near future
trial usage
try the brand
repeat purchase
conversion - second purchase can equal long term product success
brand switching
most aggressive persuaders to switch
well stated opjectives do 3 things
establish quantatative benchmarks, specify measurement methods and criteria for success. Specify time frame
quantatative benchmarks
quantifiable variables such as status of market share, awareness, attitude or other factors
measurement methods and criteria
make sure whatever is being measured directly relates to objective
specify time frame
period of time allowed for desired results
budgeting
percentage of sales, share of market and voice, response models, objective and task,
percentage of sales
based on last year or projected sales
share of market/share of voice
adv presence equal or greater to competitors
response models
relationship that associated dollars spent on advertising and sales generated
4 steps for implementing objective and task approach
determine costs based on build up analysis, compare costs against industry and corporate benchmarks, reconcile and modify budget, determine timeframe for payout
factors for building analysis
reach, frequency,timeframe, production costs,media expeditures, ancillary, integrating other promotional costs
strategy
“what you do” clear and concise, articulation of how the plan will achieve objectives
execution
actually doing it - copy strategy, media plan, IBP
copy strategy
copy objectives and methods
media plan
where ads will be placed and the strategy behind its placement
evaluation
how the agency will be graded
most important situational factor
demographic trends
what do clients want
creativity, data, efficient business processes, effective money managers
