Strategic Planning Chapter 07 Wells Burnett Moriarty 9e (8e, Ch 07)
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Transcript of Strategic Planning Chapter 07 Wells Burnett Moriarty 9e (8e, Ch 07)
Strategic PlanningChapter 07
Wells Burnett Moriarty
9e
(8e, Ch 07)
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Chapter Key PointsWhat are The Differences Between Objectives, Strategies, and Tactics in
Strategic Planning, and How are The Three Levels Of Planning Connected?How Is A Campaign Constructed, and What are Its Six Basic Sections?What Is Account Planning and How It Is Used In Advertising? In What Ways Does an Integrated Marketing Communication (IMC) Plan
Differ From an Advertising Plan?
Strategic PlanningStrategic Planning:
A Process of Identifying Problems That Can Be Solved With Marketing Comm..
Determines Long-Term Objectives; What You Want To Accomplish?
Decides Medium-Term Strategies; How To Accomplish The Objectives?
Implements Short-Term Tactics; Which Make The Plan Come To Life?
Strategic Planning:
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Followed By Divisions/SBUsBP Focus on Profit Maximization & ROI for the Entire CompanyBP Starts With Mission Statement That Supports The Broad Goals & Policies of SBU
Business Plan/BP
Marketing Plan/MP
Helps Branding, Deals With Long-Terms Goals, Operate for a Few of Years MP Parallels the BP; Contains Many Common Objectives, Strategies & TacticsObjectives of MP is To Increase Sales Volume, Market Share, Profit etc & Dealing With Mix (Ps) MP Deals With SWOT Analysis; External & Internal Situation Analysis
MP Helps Deciding
Strategic PlanningStrategic Planning: 3-Tiered
Target MarketBrand PositionPricing
Product Design & PerformanceDistribution & ServicesMarketing Communication
IMC/Advertising Plan Alike BP & MP, IMC Plan Has Concern For Objectives, Strategies & TacticsIt Focuses on Comm. Objectives, Strategies, Tactics, Timing, Costs & EvaluationHeart of IMC Plan is Audience Insight, Message & MediumPlan Matches Right Audience To The Right Message Through Right Medium at The Right Time
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Typical Advertising/IMC/Campaign PlanIt Focus on Solving a Particular Comm.. ProblemIt Solves Message Problems That are Carried in Different Media & Trigger Different Targets
Typical Campaign Plan Outline
6) Campaign Management
1) Situation Analysisa) Background Researchb) SWOT Analysisc) Key Comm. Problems To Be Solved
2) Key Strategic Campaign Decisionsa) Objectivesb) Target Audiencec) Brand Position: Features & Competitive Advantaged) Campaign Strategy: Key Strategic Approach & Communication Tools
3) Media Strategya) Media Objectivesb) Media Selectionc) Media Planning & Buying:
I. Vehicle SelectionII. Budget AllocationIII. Scheduling
4) Message Strategya)Key Consumer Insight (Brand Relationship Insight in IMC)
b)Message Objectivesc)Selling Premise/Principled)Big Ideae)Message Design & Executions
5) Other MarCom Tools Used in Supporta)Public Relationsb)Direct Marketingc)Sales Promotiond)Personal Sellinge)Merchandising, Packaging, Point-of-Purchasef)Integration Strategy (Maximize Synergy)
a) Evaluation of Effectiveness b) Campaign Budget
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What’s in a Campaign Plan? Cont’Situation Analysis
Background Research
SWOT Analysis
Research, Gather & Review Brand’s Current Market Situation Then Analyze The Findings of the Research Called Situation Analysis From Findings Identify The Problems That Need to Be Solved Through Comm.
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Campaign Plan Cont’
Situation Analysis Cont’
SWOT Analysis
Strengths & Weakness: Internal Analysis
Opportunity: Identify & Develop Advantages Over RivalsLeverage Identified Opportunities in The Brand Communication
Threat: Handle Carefully or You Will Be Erased; Rivals are the Common ThreatsAddress The Threats Smartly or You Will Be Erase form the Market
Macro-Environment Forces: Micro-Environment Forces:
Opportunity & Threat: External Environmental Analysis
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Campaign Plan Cont’Objectives
Goal is What The Message Must Accomplish During a Specified Time Period
Objectives May Depends on ………………………………………………………………….
Perception Emotion Cognition Persuasion Association Behavior
All Objectives Must Be BenchmarkedObjectives Must Be……………... ……..
Measurable Objectives Specific Clear Measurable/Realistic Consistent Hierarchal Quantitative Easily Measurable Accomplish Within a Specific Time Frame
Targeting Identify & Profile an Audience Get Inside The Targets To Find the Kinds of Messages Will Motivate Them Know The Characteristics, Attributes, Beliefs, Values & Experiences of Targets
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Campaign Plan Cont’Positioning
If Importance Changes, The Position Need To Be Adjusted Position Creates in Over Time Once Position is Established, Difficult To Change
1st Identify & Evaluate Both Tangible & Intangible Features
Then Determine Which Features Provide Advantage Over Rivals & Also is Important To Prospects
Differentiation Helps Standing Up in a Crowded Market Undifferentiated/Parity Products: Difficult to Differentiate; Brand Image is Important; MilkDifferentiated: Feature Analysis Can Helps Identifying AdvantagesConsider Factors To Take Market Advantages are………………….…..
Product Features & Attributes
Differentiation & Competitive Advantage
Tell Product Has a Strong FeatureTell The Feature is Important To TargetHit Where The Competition Is Weaker
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Campaign Plan Cont’Positioning Cont’
Locating the Brand PositionBeside Attributes, Also Position Through………..
SuperiorityPreemptiveValuePsychologicalBenefitUsageCompetitor’s StrategyCategory Factors
Needed When Current Positioning is Blur & Marketplace Has ChangedCoca-Cola in US Reposition its “Energy Drink” Branded “Mother Energy”
Frutica’s Positioning Strategy “Pure” is Already “Blur” Now Reposition Through “ ………”
Repositioning Is Your Mortgage Squeezing Your Wallet? Squeeze Back!
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Campaign Plan Cont’Brand Communication Strategy; Use Following 2 Approaches
1) Hard-Sell is Used To Persuade2) Soft-Sell Builds Brand Image; Touches The Emotions
Brand Identity: See/HearBrand Personality & Liking: FeelBrand Position & Understanding: Think/UnderstandBrand Image: ConnectBrand Promise & Preference: BelieveBrand Loyalty: Act/Do
Hard & Soft Sells Both are Affected By 6 Facets Model…...
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Campaign Plan Cont’Campaign Strategies & Mgmt
Campaign Strategies Focus on Branding, Positioning, Category Dominance, Handling Rivals, Changing Perception on The Price, Share of Wallet, Launching/Extension, Deciding Spokesperson etcSay Strategies are Identified, Now Develop Budget & Evaluation Process for Implementation
5 Budgeting Methods are……..…. Historical MethodObjective-Task MethodPercentage-of-Sales MethodCompetitive BudgetsAffordable Method
Budgeting
Evaluation: Determining Effectiveness Evaluation Determines The Effectiveness of The CampaignEvaluation Impossible Without Establishing Measurable ObjectivesUsually, Evaluation is a Research Proposal
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Account Planning: What is it?Account Planner/AP
AP’s Mission is to Answer……………..
AP Develops Strategies Together With Client & AgencyDetermines the Kind of Message, to Which Customer May Respond Doesn’t Design the Creative Strategy: Creative Dep’t Does It
Who: Who are You Trying To Reach? What Insight Do You Have About How They Think, Feel & Act? How Should They Respond To Your Ad Message?
What: What Do You Say To Them? What Directions Come From The Consumer Research That Will Be Useful To The Creative Team?
Where: How & Where Will You Reach Them? What Directions Come From The Consumer Research That Will Be Useful To The Media Team?
AP is The Agency Person Who Researches Brand-Consumer Relationships
AP Plans Message Strategies To Addresses Consumer Needs & Wants
Account Planning/AP: What is it? Cont’
AP Must Ensure That, His Researchers & Creative Teams is Working Closely
AP Planners Use Various Research Tools To Do Consumer “Insight Mining”
The Research Foundation
Consumer Insight: The Fuel of Big Ideas
APs Go To Consumer Insight To Discover The Big Idea Through Pre-Written Questioner
Success of the Big Idea Depends on Nature of Consumer’s Thinking; Mindsets, Moods, Motivations, Desires etc That Trigger Attitudes & Actions
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Account Planning: What is it? Cont’The Comm./Creative Brief; Outcome of the Strategic Research
Problem: What is the Problem That Comm. Can Solve?
Target Audience: To Whom Do We Want To Speak?
Consumer Insights: What Motivates The Target to Act?
Brand Imperatives: What are The Important Features? What’s The Point of Competitive Advantage? What’s The Brand’s Position Relative To Rivals? What is Its Essence, Personality & Image?
Comm. Objectives: What Do We Want Customers To Do in Response To The Messages?
The Proposition/Selling Idea: What Is The Single Thought That The Comm. Will Bring To Life?
Support: What Is The Reason To Believe The Proposition?
Creative Direction: How Can You Best Stimulate Desired Response? How Can We Best Say It?
Media Imperatives: Where & When Should We Say It?
It lights Up The Creative Team; Explains Acquired Consumer Insight & Decisions for Big Idea to Team
Creative Brief Outlines……………………..
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Planning For IMC CampaignsIMC & Advertising Plans Both Follow the Same Basic Outline; As Ad is One of the Components of IMCJust IMC Plan Uses Variety of Tools
IMC Campaign Planning
Areas Where an IMC Plan Differs From an Ad Plan
Objectives
Public Relations Consumer Sales PromotionTrade Sales PromotionPoint-of-PurchaseDirect MarketingSponsorship & EventsSpecialties
IMC Objectives are Tied With Multiple Comm. Tools
These Tools Have Different Strengths & Weaknesses
IMC Plan Sets Multiple Objectives & Develops Different Strategies to Achieve Them
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Planning For IMC Campaigns Cont’IMC Campaign Planning Cont’
Contact Points Helps Retaining & Growing Customer Base
Also Crucial While Dealing With Stakeholders
Areas Where an IMC Plan Differs From an Advertising Plan Cont’
Stakeholders
Stakeholders are the Primary Medium for WOM
Contact Points/Touch Points
Synergy/Impact & Strategic ConsistencyIMC Plan Involves Delivering Messages Through Multiple Media & Different Contact PointsSo the Concern Here is to Create Consistent MessagesIMC Planners are Continuously Looking For Ways To Strengthen The Synergy of The Messages
Synergy is Also Important For Marketers To Maximize The Cost Efficiency of The Budgets