Understanding The Clients Business

Question 0

What are the key elements we need to consider in order to write the marketing objective?

Answer 0

– who do we want to influence?

– what behaviour do you want to encourage or discourage?

Question 1

What are the seven Ps of marketing planning?

Answer 1

Product
price 
place 
promotion 
people 
process 
physical evidence

Question 2

What are key considerations to take into account when putting together a marketing strategy?

Answer 2

– Who is the target consumer?
– How would you describe the competitive environment?
– How will we position ourselves in the market?

Question 3

Why do clients work with agencies?

Answer 3

Because of creativity, value for money, and understanding the clients business. One of the top cited reasons for clients quitting agencies is because agencies failed to understand the clients business.

Question 4

What is the iceberg analogy?

Answer 4

At the bottom of the iceberg are the business objectives: profit, growth, return on investment, shareholder value. In the middle of the iceberg our marketing objectives: influence sales, market share, price, products and distribution. At the tip of the iceberg are the communication objectives: influence people’s feelings, attitudes, opinions, preferences and behaviours

Question 5

How can you evaluate the effectiveness of your communications strategy?

Answer 5

There are 3 standard methods:
- Time-series analysis. What happens to sales at when you give your brand less communications support on non at all?
– A regional analysis. What happens to sales in the regions where you give your brand less communication support or none at all?
- Competitive comparisons: What happens to sales on other brands in your market that get less competitive support or none at all?

Question 6

What is brand penetration?

Answer 6

It is the percentage of the population that have the product.