Spring 4860 Strategy Development
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Transcript of Spring 4860 Strategy Development
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.
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 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 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
• 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.
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 SHOULD
BE EASY
• Did you meet the targets
listed in the objectives?
• If your objectives are bad,
this goes haywire.