Topic 6: Consumer Insights & Strategy Flashcards
Real-Time Planning
Strategy decisions in real time due to customer insights being provided by:
- synchronous information
- trending digital behaviours
- data relevant to all aspects of IMC
Review of the Marketing Plan
- Situation analysis
- Marketing objectives
- Marketing strategy and program
- Implementation program
- Performance evaluation
IMC Situation Analysis (Internal Factors)
- Assess organisational abilities
- Review prior programs and results
- Assess brand image and IMC implications
- Strengths and weaknesses of the product
- Packaging, labelling, image
IMC Situation Analysis (External Factors)
- Customer analysis (who, what, why, when, where, how)
- Competitive analysis
- Environmental analysis (current trends)
IMC Audit
An in-depth research method to evaluate and monitor key IMC processes to see if they are being effectively managed.
It helps determine gaps between what managers say is being done and what is done.
Financial consequences are likely if there are gaps.
Strategic Integration Tool
Strategic integration separates IMC from marketing communication.
Integration is assumed but rarely measured.
Weighted evaluation tool measures strategic integrations by exploring key areas, such as: strategic alignment, customer focus, organisational structure, and IMC capabilities.
IMC Strategic Decisions
Few products can satisfy all customers.
decisions about who to satisfy are made by target marketing.
- identify markets with unfilled needs
- determine market segmentation
- select target market
- position through strategy
Benefits of Targeting to IMC
- identifying consumers with similar lifestyles, needs, and values.
- increasing knowledge and insight into target’s specific requirements
- more effective communication and fulfilment of target’s requirements
Market Segments
Dividing up a market into distinct groups who share common need and responses to marketing action.
CUSTOMER CHARACTERISTICS: - geographic - demographic - psychographic - socioeconomic BUYING SITUATION: - outlet - benefits - usage - awareness - behaviouristic
How Many & Which Segments?
UNDIFFERENTIATED MARKETING: single offering, whole market, no segmentation
DIFFERENTIATED MARKETIG: different offerings, different segments, segmentation, no targeting
CONCENTRATED MARKETING: single offering to single market, segmentation and targeting
Positioning
The art and science of fitting the product to one or more segments of the broad market in such a way as to set it meaningfully apart from competition.
Developing A Positioning Platform
- identify competitors
- assess consumers’ perceptions of competitors
- determine competitors’ current positions
- analyse consumer preferences
- make the positing decision
- monitor the position
Out-Side In Planning
- customer identification from behavioural data
- evaluation of customers/prospects
- creating and delivering messages and incentives
- estimating return on customer investment
- budgeting, allocation, evaluation and recycling
Zero-Based Planning
- identify targets
- analyse SWOTs
- determine IMC objectives
- develop strategies and tactics
- determine the budget
- evaluate effectiveness
Account Planning
Account planning is about bridging the gab between account management and creative using research and intuition to inspire creativity.
Role of account planning: strategy development, research (insights to inspire creativity), and link between account service and creative.
