STRATEGIC PLANNING. STRATEGIC PLANNING DEFINITIONS (1) PLANNING PROCESS (2) STRATEGIC.
Strategic Planning. Lecture Outline I.Strategic Planning II.Basic Strategic Planning Decisions...
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Transcript of Strategic Planning. Lecture Outline I.Strategic Planning II.Basic Strategic Planning Decisions...
Lecture Outline
I. Strategic Planning
II. Basic Strategic Planning Decisions
III. Account Planning: What Is It?
IV. Planning for IMC
Strategic Planning
• The process of determining objectives, deciding on strategies, and implementing the tactics
• Objectives– What you want to
accomplish
• Strategies– How to accomplish the
objectives
• Tactics– Make the plan come to
life
A Three-Tiered Process
1. The business plan
• May cover a specific division of the company or a strategic business unit with a common set of problems
A Three-Tiered Process
1. The business plan
2. The marketing plan
• Parallels the business strategic plan and contains many of the same components
A Three-Tiered Process
1. The business plan
2. The marketing plan
3. The advertising or IMC plan
• Operates with the same concern for objectives, strategies, and tactics as business and marketing plans
Basic Strategic Planning Decisions
• Annual advertising or IMC plan– Outlines all the
advertising or marketing communication activities
• Campaign plan– More tightly focused on
solving a particular marketing communication problem
Typical Plan Outline
I. Situation analysis
II. Key strategic decisions
III. Media strategy
IV. Message strategy
V. Other tools
VI. Evaluation of effectiveness
Basic Strategic Planning Decisions
• Situation analysis– Researching and
reviewing the current state of the business that is relevant to the brand and gathering all relevant information
– After the research is compiled, analysis begins
• SWOT analysis– Strengths
– Weaknesses
– Opportunities
– Threats
• Key problems and opportunities
Basic Strategic Planning Decisions
• Objectives and strategies– Planners develop
specific objectives to be accomplished during a specific time period
– The main categories of effects can be used to identify the most common advertising and IMC strategies
• It is important for advertisers to know what to expect from a campaign or an ad
• Measurable objectives– Specific effect that can
be measured– A time frame– A baseline– The goal– Percentage change
Basic Strategic Planning Decisions
• Segmenting and targeting– Market segment: a
group of consumers having similar characteristics
– The segments the planner selects becomes the target audience
• Getting deeper insight into consumers is the responsibility of the account planning function
Basic Strategic Planning Decisions
• Positioning Strategy– Determining what
place a product should occupy in a given market
– To establish a location in the consumer’s mind based on what the product offers and how that compares with the competition
• Product features– Feature analysis
• Competitive advantage– Importance/performance
• Differentiation– Branding
• Locating the brand position– Perceptual mapping
Basic Strategic Planning Decisions
• Budgeting– Determines how many
targets and multiple campaign plans a company or brand can support and the length of time the campaign can run
• Historical method• Objective-task method• Percentage-of-sales
method• Competitive budgets• All you can afford
Account Planning: What is It?
• Account planning– The research-and-
analysis process used to gain knowledge and understanding of the consumer
Account Planning Elements
1. Consumer insight
2. Message strategy
3. Media strategy
Account Planning: What is It?
• Account planner– A person in an agency
who uses account planning to research a brand and its customer relationships in order to devise advertising message strategies that are effective in addressing consumer needs and wants
Account Planner Tasks
1. Understand brand
2. Understand audience relationship
3. Articulate strategies
4. Prepare creative briefs
5. Evaluate effectiveness
Account Planning: What is It?
• The Research Foundation
• Used in three phases of the advertising planning process– Strategy generation
– Creative development
– Campaign evaluation
Account Planning: What is It?
• The Research Foundation
• Consumer Insight
• Intersects with the interests of the customer and the brand features
• Insight mining– Realistic response objective?
– Causes of nonresponse?
– Barriers to desired response?
– Motivation to respond?
– Role of each element in the communication mix
Account Planning: What is It?
• The Research Foundation
• Consumer Insight
• The Communication Brief
• Explains the consumer insight and summarizes the basic strategy decisions
• Six major parts:– Marketing objective– Product– Target audience– The promise and support– Brand personality– Strategy statement
Planning for IMC
• Follows same basic outline as an ad plan
• Objective is to make the most effective use of all marketing communication functions
• Effective plans lead to profitable long-term brand relationships
• Differences in IMC strategic decisions– Stakeholders
– Contact points
– IMC objectives
Principles of Advertising & IMC by Tom Duncan 2nd Edition, Published by McGraw-Hill Irwin.
Event Management For Tourism, Cultural, Business and Sporting Events by Lynn Van Der Wagen Brenda R. Carlos Published by Pearson Prentice Hall.
Advertising Principles and Practice by W. Wells, S. Moriarty and J. Burnett, Published by Prentice Hall International.
Integrated Marketing Communications by David Pickton & Amanda Broderick Published by Prentice Hall.
Bibliography