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Chapter 4
Strategic Planning Concepts for Marketing Communications
JEOPARDYThe Corporate
Plan
The Corporate Plan
The Marketing Communications
Plan
Marketing Communications
Planning
The Marketing Plan
The Marketing Plan
The Marketing Plan
The Marketing Communications
Plan
Business Planning ProcessObjective: What is to be achieved
Strategies: How the business will attain their objective
Execution: Specific action plans or tactics based on strategy
Mission StatementMission statement is statement of purpose of company and organization.
http://www.starbucks.ca/about-us/company-information/mission-statement
Corporate Objective
Declared, measurable goals to achieving business aims.
For example: We strive to achieve sales of $40 million in the U.S. market in 2015.
Penetration strategy
Company involves aggressively market current products.
→growing their position, keep their brand name top of mind with consumers.
Question 1 / 100 Points - The Corporate Plan
★ It is the promise of the corporate plan , a testimony of the organaization’s aspirations.
★ Mission Statement
New Product Development Strategy
New product stimulate some growth to the market
Example
Model Change
Brand Extension
Increase Market Share
https://www.pinterest.com/pin/520939881871493726/
Extend products to the Market
Strategic Alliances● Entails a marriage between two or more companies collaborating to achieve common benefits.
● Example: Hewlett Packard and Disney have a long-lasting relationship for nearly a century, dating back to 1938.
Starbucks-united airlines alliance
Acquisition StrategyCompanies help for growing revenue and profits.
Example
August, 2014,Burger King agreed to purchase Tim Hortons
http://globalnews.ca/news/1724238/its-official-tim-hortons-burger-king-become-one/
Divestment Strategy
Contrary to the acquisition strategy, divestment strategy unifies operations by selling assets.
Sell-offs of certain sections within the company.
Question 2 / 100Points - The Corporate Plan
★ It is synonymous with developing earnings and bottom line example?
★ Acquisition Strategy
SWOT Analysis
● SWOT analysis explores the important elements that collides with the nature and order of a marketing strategy.
Strengths
Weaknesses
Opportunities
Threats
PositioningCompany desire customer image in their mind
<Effective Positioning Statement>
・ Realistic
・ Specific
・ Uncomplicated
http://beloved-brands.com/2012/05/06/brand-positioning-statement/
Target Market Profile
Demographic Profile
Psychographic Profile● Personality
● Lifestyle
Geographic ProfileRegion
Density
Climate
Question 3 / 100Points - The Marketing Plan
★ Alludes to the wanted image that an institution wants to invoke in the heads of clients about the institution in its entirety or about solo products selling concept assisting a buy
★ Positioning
Marketing ObjectivesStatement identifying what a product will achieve annually.
⇒Quantitative & Measurable at end of the period
● Sales Volume
● Market Share
● Profit
● Marketing Communications
Marketing Strategies The main plan that helps achieve goals for the marketing objective
Marketing MixMarketing mix is a set of tactics that a company uses to promote its brand/product
Planning document that includes company's background analysis of the:
Market
Product
Competition
Strategies
Tactics
for the following year
Marketing plan
Question 4 / 100Points - The Marketing Plan
★ At this point of the planning process, the aspect and significance of each fundamental of the ________ is identified.
★ Marketing Mix
Financial resourcesIn a marketing plan a budget will be made in the strategy section
Example
Shared Office Space
Marketing TacticsPlans that directly relate to achieving success of the marketing objectives
Media advertising
Sales promotion
Interactive communication
Experiential marketing
Marketing Control and EvaluationEvaluating results of marketing strategies
Making sure objectives and goals are reached
Marketing Communications PlanningA step by step method to make sure intended message is received and understood by audience
Noise (clutter)- competitive advertisements aimed at a specific target market
Question 5 / 100Points - The Marketing Plan
★ It targets definitive details that branch right from the strategy section of the aim
★ Marketing Tactics
Advertising in actionTarget market = Young mothers (20-35)
Influenced by internet/social media (e.g mommy blogs ), fast advertisements
Interested in natural/organic products,how product will benefit their children
Need to be emotionally stimulated by advertisements
Question 6 / 100Points - Marketing Communications Planning
★ This marketing communications plan influences consumer behaviour in a variety of ways from introduction to responding.
★ ACCA
A client will prepare….1.A creative brief (if the message is the issue)
or
2.A media brief (if subject is media related)
Example of creative briefs
★Background
★Objectives
★Target
★Strategic insight
★Current preposition
Client brief: Avion
key terms relating to brief
target market profile
objectives
media plan
Marketing communications objectivesWhat are the objectives for achieving the company’s overall goals?
E.g.
Building brand recognition
Obtaining new customers (sales promotions)
What’s the advertising objective of this ad?
Question 7 / 100Points - The Marketing Communications Plan
★ It describes the key factors that definitively narrow down in the sale of the product or service and accomplishing a declared ________.
★ Marketing Communications Objectives
Public Relations
6 key areas:
Corporate public relations
Reputation management
Product publicity
Product placement, product seeding (e.g. creating buzz), and word of mouth marketing Community relations
Fundraising
Public Relations ( Unpaid Publicity )Public relations--Using media to build a strong image of a product or company and increase brand awareness.
★Unpaid third party publicity
E.g.
Media attention in the form of a news story, magazine article. social media contests etc.
http://www.cnet.com/products/apple-iphone-6s/
Publicity stuntAn event designed to attract media attention and public attention.
Media planWhich types of media is the best to reach the target market effectively?
Television, radio, newspapers, or magazines?
Final Question / 100Points - The Marketing Communications Plan
★ This could present an important role in a new product/service or an existing one – to secure free(usually) media attention for the brand.
★ Public Relations