Planning and Strategy Flashcards
Planning process (2)
Marketing plan
Advertising plan
This specifies the overall goals, objectives, strategies, and tactics for the brand
Marketing plan
Marketing plan effect on advertising
Helps managers analyze and improve communications
Defines the role of advertising in the marketing mix
Enables better implementation, control, and continuity of campaigns
Ensures most efficient allocation or IMC dollars
Marketing Plan 3 types
Top down
Bottom up
IMC
The most traditional and most commonly used format of marketing planning
Top down marketing plan
Four stages of top down marketing plan
Situation analysis
Marketing objectives
Marketing strategy
Marketing tactics
Factual statement of the company’s current situation and how it got there
Should also place these facts into context
From it, companies usually develop SWOT analysis
Top-down marketing plan situation analysis
Clear, quantifiable, realistic marketing goals that are to be accomplished within a defined time period
Should be able to be accomplished by a variety of marketing activities (sales, market share, etc)
Top down marketing plan marketing objectives
Describes how the company plans to meet its marketing objectives - includes defining target market, determining strategic positioning, and developing appropriate marketing mix
Top down marketing plan Marketing strategy
Specific short-term actions to be taken to put into effect marketing strategy
Top down marketing plan marketing tactics
Bottom up marketing plan
- Marketing tactics
- Marketing strategy
- Marketing results
The optimal combination and coordination of the promotional mix elements designed to provide clarity, consistency, and maximum communications impact
Integrated marketing communications
Relationship marketing (3)
Customers, not products, are focus
Market relationships, not transactions
Know that customer has choices
Four Cs
Customer
Cost
Convenience
Conversation
Four sources of brand messages
Planned
Product
Service
Unplanned
Traditional marketing communications messages
-advertising, sales promotions, personal selling, public relations, event sponsorships
Planned
Messages from other elements in the marketing mix
-price, packaging, distribution elements
Products
Employee interactions with customers
- general employees
- customer service
Service
Uncontrollable sources
-employee gossip, unsought news stories, competitors, WOM rumors, major disasters
Unplanned
The integration triangle
Say (planned)
Do (product and service messages)
Confirm (unplanned messages)
IMC approach to marketing planning (4)
Customer
Communications objectives
Communications strategy
Communications tactics
The plan that directs the company’s advertising effort
It analyses the situation, sets advertising objectives, and lay out to a specific strategy from which ads and campaigns are created
Stems from the marketing plan
Advertising planning
First step of advertising objective
Objectives are key
Why are objectives key
They guide the planning and decision making
They affect creative and media decisions
They provide a benchmark
Marketing ___, advertising ____
Sells; tells
These can be related to sales, advertising objectives should be related to communication outcomes
Marketing objectives
Before _______ can persuade consumers to buy, it must inform, persuade, or remind its audience about the product or service
Advertising
Some communications are more directly tied to sales (3)
Direct-response advertising
Sales promotions
Point-of-purchase displays
Any individual advertising objective must be (4)
Result-specific (measurable)
Time-specific
Quantified
Reasonable/challenging
Advertising pyramid (5)
Awareness Comprehension Conviction Desire Action
To acquaint people with the company, product, service, and/or brand (level of advertising pyramid)
Awareness
Communicate enough information about the products purpose, image, or position, and perhaps some of its features (level of advertising pyramid)
Comprehension
Persuade people to actually believe in the products value (level of advertising pyramid)
Conviction
Motivate consumers to desire the product (level of advertising pyramid)
Desire
Motivate people to request additional information, send in a coupon, visit a store, or actually buy the product (level of advertising pyramid)
Action
As you go up the advertising pyramid (3)
Fewer people
More time
More money
Two advertising strategies
Creative strategy
Media strategy
This strategy is a guide for developing advertising
Defined the target audience
Restates the objective of the advertising
Specifies the key benefits to be communicated
Creative strategy
This strategy provides direction to the media planners
Defines communication objectives that must be achieved and describes how these will be accomplished through the use of media vehicles
Media strategy
