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Promotions Opportunity
Analysis
Chapter 4
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Chapter Overview
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• Promotions opportunity analysis process
• Promotional efforts• Consumer market segments• B-to-B segmentation programs
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1)Conduct a communications marketing analysis.
2)Establish communications objectives.
3)Create a budget.4)Create communications
strategy.5)Match tactics with strategy.
Promotion Opportunity Analysis
Five Steps
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1)Conduct a communications marketing analysis.
2)Establish objectives.3)Create a budget.4)Create communications
strategy.5)Match tactics with strategy.
Promotion Opportunity Analysis
Step One
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Communication Market AnalysisStep One
• Competitors• Opportunities• Target markets• Customers• Product positioning
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Competitors
Sources of info:
• Secondary data• Other people• Primary research
• Major competitors• Communication
strategies of major competitors
Identify:
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Opportunities
• Ignored Customers• Saturated Markets• Benefits not articulated
clearly• Marketing approach• Brand positioning
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Target Markets
• Benefits sought.• Methods of reaching markets.• Appeals to each market.• Needs not being met.• Demographic and psychographic
profile of each market.
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Customers
Three Types• Current company customers• Customers of competitors• Potential customers who have
not purchased product.
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Product Positioning
• Perception In mind of consumers Relative to competition
• Created by factors such as Product quality Prices Distribution Image Marketing
communications
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Positioning Strategies
• Attributes• Competitors• Use or application• Price/Quality• Product user• Product class• Cultural symbol
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1)Conduct a communications marketing analysis.
2)Establish Communication objectives.
3)Create a budget.4)Create communications
strategy.5)Match tactics with strategy.
Promotion Opportunity Analysis
Step Two
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Establish Communication ObjectivesStep Two
• Develop brand awareness.• Increase category demand.• Change beliefs or attitudes.• Enhance purchase actions.• Encourage repeat purchases.• Build customer traffic.• Enhance firm image.• Increase market share.• Increase sales.
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Factors Impacting Relationship Between Promotions and Sales
• Goal of promotion• Threshold effects• Carryover effects• Wear out effects• Decay effects• Random events
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Sales-Response Curve
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A Decay Effects Model
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1)Conduct a communications marketing analysis.
2)Establish objectives.3)Create a budget.4)Create communications
strategy.5)Match tactics with strategy.
Promotion Opportunity Analysis Step Three
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Create Communications Budget
Step Three
• Percentage of sales• Meet-the-competition• What we can afford• Objective and task• Quantitative models
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Promotion Budgets
Consumer Promotions
28%
Other
Trade Promotions
28%
Advertising 41%
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Outdoor, 2.6%
Radio, 7.4%
Cable TV, 11.2%
Syndicated TV, 2.8%
Spot TV, 11.5%
Network TV, 18.1%
Newspaper, 19.9%
Magazine, 19.9%
Internet, 6.5%
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Advertising Expenditures by Media
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1)Conduct a communications marketing analysis.
2)Establish objectives.3)Create a budget.4)Create communications
strategy.5)Match tactics with strategy.
Promotion Opportunity Analysis
Step Four
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Create Communications StrategiesStep Four
• Broad, long-term guidelines.• Link to opportunities and
threats.• Fit with overall company
message, image, and themes.
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1)Conduct a communications marketing analysis.
2)Establish objectives.3)Create a budget.4)Create communications
strategy.5)Match tactics with strategy.
Promotion Opportunity Analysis
Step Five
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Match Tactics with StrategiesStep Five
• Tactics support strategies• Examples of tactics
Specific advertisements Personal selling enticements Sales promotions Trade promotions Price of products Package design and labeling
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Market Segmentation
• Group with distinct characteristics. Homogeneous within
• Differs from other segments and population. Heterogeneous across
• Consumer segments• Business segments
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Advantages to Segmenting Markets
• Helps identify company strengths and weaknesses.• Identifies the best set of customers.•Clarifies marketing objectives associated with specific target markets.•Allows for more precise communications budgeting.•Links firm’s strategies and tactics to a specific target group
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Consumer Segments
• Demographics• Psychographics• Generations• Geographic• Geodemographics• Benefit• Usage
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Geodemographic Segmentation
• Combines Demographic census data Geographic information Psychographic information
• PRIZM 62 market segments
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• NAICS/SIC code• Size of business• Geographic
location• Product usage• Customer value
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B-to-B Segmentation
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The North American Industry Classification System (NAICS)
Http://www.industrialwhoswho.com/company/naics.cgi
Standard Industrial Classification (SIC)
The Industrial Who’s Who Web Site
Http://www.industrialwhoswho.com
Http://www.industrialwhoswho.com/company/sic.cgi
Information Sources
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Determine a Market Segment Viability
•The individuals or businesses within the segment are homogenous
• The market segment is different from the population as a whole and distinct from other market segments.
•The market segment is large enough to be financially viable to target with a separate marketing campaign.
•The market segment must be reachable through some type of media or marketing communications method.
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GIMC(Global Integrated Marketing Communications)
• Borderless marketing plan• Think global – but act local• Local partnerships• Segmentation strategies• Market communication
analysis• Communication objectives
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