Spring 4860 Strategy Development

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#OUJ4860 STRATEGY CREATION

Transcript of Spring 4860 Strategy Development

#OUJ4860

STRATEGY CREATION

THE FINAL PROJECT

IN ONE SLIDE

• Business Context

• Research

• Objective

• Programming

• Evaluation

LET’S TALK ABOUT BUSINESS

CONTEXT

HERE ARE THREE THINGS TO

THINK ABOUT

•The Goal

•The Time

•The Numbers

WHAT IS THE GOAL?

The goal is to make money. We

measure this in three ways.

• Net Profit

• Return on Investment

• Cash Flow

HOW IS MONEY MADE TO

ACHIEVE THE GOAL?

• Throughput: The rate at which the system

generates money through sales

• Inventory: All the money that the system

has invested in purchasing things which

it intends to sell.

• Operational Expense: All the money the

system spends in order to turn inventory

into throughput

WHAT ARE THE TIMES?

• Quarters

• End of the year

• Holidays

• April 15

All impact campaign creation.

WHAT ARE THE NUMBERS?

•Stock Prices

•Venture Capital

•BondsThis is how brands generate revenue

to create business opportunities.

WHAT ARE THE NUMBERS?

• Lead Time

• Inventory

• Expansion

• Global Expansion This determines how long it takes an item

to go from concept or order to creation.

BUSINESS CONTEXT

THE FARKAS FIVE

• Strategic Communication needs to get out of

its silo and think like businesses do.

• You need to know how this works so your

campaign can align with the business

timeline.

• The calendar profoundly impacts your life.

• Understanding how a product is delivered

helps you time a campaign.

• Your challenge is to create inelastic demand

for a good or service.

LET’S TALK

RESEARCH

STEP ONE: SITUATION ANALYSIS

AT LEAST TWO PAGES

• You want to understand the industry

in terms of characteristics and key

success factors.

• Go to IBIS World through Alden and

read the industry report.

• Google the heck out of the issues

once you ID some trends to get

further data.

STEP TWO: UNDERSTAND THE

CUSTOMER. AT LEAST TWO PAGES

•Buyer Behavior

•B2B

•B2C

STEP THREE:

EXTERNAL ENVIRONMENT THROUGH

A PEST PLAN: 2-5 PAGES

• You want to understand how the

external environment impacts the

industry.

• Political.

• Economic

• Social

• Technology

STEP FOUR: COMPETITIVE

ANALYSIS 2-5 PAGES

•Competitive analysis

•Direct competitors

•Substitute options

•Where are gaps or core

competency?

STEP FIVE: USE PORTER’S TO

UNDERSTAND RELATIONSHIPS

2-4 PAGES.

•Power of buyers

•Power of suppliers

•Threat of new entrants

•Industry rivalry

•Threat of substitutes

STEP FIX:

INTERNAL ENVIRONMENT. LENGTH

VARIES ON CUSTOMER SIZE.

Internal Environment

•Organizational Overview

• Characteristics

• History

• Core competency

• Financial history Resource

•Summary segmentation and

positioning

SITUATION ANALYSIS

INTERNAL

ENVIRONMENT

Internal Environment

•Product

• Integrated marketing communication.

Do they play together or sit in silos

•Pricing

•Logistics and supply chain. How does

the concept get to market?

HOW DO YOU FIND

INFORMATION?

• Qualitative Research

• Quantitative Research

• You should do both

HOW DO YOU USE THIS

INFORMATION TO CREATE A PLAN?

• You should find repeated themes in each section

of your research.

• Those are insights that help solve problems.

• Content is nothing without context. Your job is

to connect dots that help your client achieve the

goal.

WHAT DO YOU DO WITH

THIS INFORMATION?

• Those finding are at the core of your big idea,

objectives and programming.

• If this isn’t aligned, you don’t do well.

OBJECTIVES

OBJECTIVES

• Goals are often provided to you.

Usually the goal is to make money

• You create a big idea that unifies the

campaign. Think a tagline like (Just

Do It or Guts, Glory, Ram.)

OBJECTIVES

• Objectives make the abstract big

idea more concrete.

• We do a bad job creative objectives.

• It muddies the campaign.

LET’S TALK ABOUT

OBJECTIVES

• Output are raw numbers.

• Impact change perception or

behavior.

• You need to have both.

• Impact takes more work and can

result from your research.

• I’m a big fan of a baseline survey.

WHAT DOES A GOOD

OBJECTIVE HAVE?

• Singular infinitive phrase.

• It must be quantified.

• It must be difficult to reach but attainable.

• There must be a deadline…..

• It must be aligned with the research and

audience.

LET’S TALK

PROGRAMMING

PROGRAMMING

• This is a media kit.

• This is social media.

• This is an advertising plan.

• Content Marketing….

• You choose what you think will work for

the client.

• You explain and sell how it will work.

EVALUATION

EVALUATION SHOULD

BE EASY

• Did you meet the targets

listed in the objectives?

• If your objectives are bad,

this goes haywire.

SO WHAT WILL YOU

HAND IN?

• A complete communications plan.

•Business Context

•Research

•Objectives

•Programming (Ideas and

Implementation Timeline)

•Evaluation