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The Marketing and Promotions Plan Situation Analysis Problems and Opportunities Marketing...
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Transcript of The Marketing and Promotions Plan Situation Analysis Problems and Opportunities Marketing...
The Marketing and Promotions Plan
Situation AnalysisProblems and Opportunities
Marketing ObjectivesMarketing Strategies Implementation Evaluation
Major Components
The Situational Analysis
A SA is a snapshot in time .. A picture of your company TODAY … you do not address plans, the future, etc. This is an analysis of the current situation!
Situation Analysis
2 primary sections
1) Internal Considerations – the marketing mix (in your control) Product Promotion Distribution Price
2) External Considerations (not in the control of the firm) Marketplace Competition Consumers Demand Environment
Product
What stage of the PLC are your products/organization?
What is your product mux in terms of the market share/market growth model (BCG)?
What are your products and attributes, competitive advantages?
What is the depth, width and length of your product line?
What is your branding strategy?
Price and Place
What is your current pricing strategy? Competitive, skimming, penetration, etc.?
Distribution How, when and
where do you deliver product to the consumer
Distribution Hours of operation Location Payment methods
What is your distribution strategy? Intensive, selective or exclusive?
Promotion
How do you communicate with consumers? What is your
promotions budget? Mix of personal
selling, advertising, sales promotion, direct marketing, social media efforts and PR
What has worked for you in the past in terms of communication with the consumer? What is your existing
promotions mix? Do you have any
slogans, or spokespersons
Situational Analysis
External Considerations Marketplace Competition Consumers Demand Environment Technology Political and Legal
Implications Situational Factors
External Factors – Outside of your control
Marketplace – what is your overall sales potential
Legal Issues – are there any concerns with current regulations, govt oversight?
Technology – does technology impact the delivery of your products and services? Does it impact changes in your product design?
Economy – how has the economy impacted your firm?
External Considerations
Competition 3 levels to discuss
Direct brand Substitute
(provides the same benefits
General – competing for your customer’s disposable income
Consumer Provide a detailed
profile of your consumer including: Demographics Geographics Behavioristics AIO (Attitudes,
Interests and Opinions)
External Considerations
Demand Analyze the
demand function of your consumer What price and set
of features are they seeking?
Additional External Situational Factors Could include
(depending on the business) sociodemographic trends, politics, etc.
Identification Possible After SA
Problems May be Opportunities in Disguise
Promotion only Solves Communication Problems
Problems and Opportunities
Must be Specific and Measurable
Primary Marketing Objectives Sales, Market Share, Volume
Secondary Objectives 4 P’s
Product – brand Promotion - awareness Price - % markup Place - # outlets open
Setting Objectives
Determine Target Market Investigate Segmentation Opportunities Product Strategies
Branding Packaging
Distribution Push vs. Pull
Marketing Strategies
PromotionPromotions Mix
Advertising, Sales Promotion, Personal Selling, Public Relations, Social Media, Direct MarketingPricing
SkimmingCompetitivePenetration
Marketing Strategies
these are the aggregate segments that you will direct your marketing efforts towards
You’re prospects!
Target Markets
Undifferentiated Marketing
Differentiated MarketingFocused (Concentrated Marketing)
The Target Market Decision
Identifying groups of people with shared characteristics within the broad markets for consumer or business products
aggregating these groups into larger segments according to their mutual interest in the product’s utility
Marketing Segmentation
Identify the needs structure of the consumer population
Group the customers into homogeneous segments
Id factors that are correlated with the segments (segmentation variables)
Select your target market Develop your positioning strategy
Steps to Segment
Segmentation Variables
Demographics age, income, sex,
family size
Geographics regions, climate,
density
Behavioristic benefits sought,
usage rates, purchase occasion, psychographics
Direct Distribution - Network Marketing Indirect Distribution - resellers and
channel members to consider Three Primary Strategies
Intensive Selective Exclusive
Distribution
Co-op Strategies IMC
seek synergy
Marketing Strategies
Scheduling – when will you end and begin this plan, use calendar to identify which strategies will come into play at certain times of the year
Budgeting – how much will all of this cost, when will your payouts be?
Implementation
Compare Against Quantifiable Objectives
Evaluation
natural outgrowth of the marketing plan outline of the actions, approaches and
tactics that will be used to meet promotions objectives. Advertising pr Sales promotion Personal selling Direct marketing
often bounded by budgetary considerations
Promotions Plan
Advertising Pyramid
Action Desire Conviction Comprehension Awareness
Promotions Objectives
should support marketing objectives
deal with all elements of the promotions mix. awareness, recall, likeability, recognition, action, sales, contacts (or calls), # media contacted and story pickups
our plan of action! Broken into section for each of the elements of the promotions mix
utilizes the creative mix to mobilize the forces!
target audience product concept communications media Advertising, pr, personal selling message
Promotions Strategies
Product Concept
How will the ad present the product?
In terms of: Positioning Differentiation Life Cycle Branding, packaging,
classification Thinking or feeling?
Copy Elements Advertising appeals
Humor, fear, slice of life Copy Platform Key Consumer Benefits to be identified
Art Elements Visuals for packaging, ads, POP Layout and Design
Advertising Message
Id Contact Person Develop scripts for specific TMs Training Setting reasonable expectations Developing long-term relationships
Sales Message
target audience - the people you want to speak to and address the message to Primary and Secondary
product concept - the bundle of values or benefits may be psychological or utilitarian
communications message TV, radio, magazines, newspaper
advertising message - combo of art and copy and production to form message
pr message – what is the “newsworthy” item or message Sales promotion – target new segments and spur action Personal selling – demonstrate, address b to b customers,
develop trade show information, overcome objections Direct marketing – can this be a reasonable additions to
mix?
Creative Mix
Define Media ObjectivesReach, frequency, GRP, scheduling
Profile audiences/readershipMatch the audiences to the TMEvaluate economics of TM vs. TA
Negotiate purchases
Media Planning
Evaluation and Testing
Advertising ResearchPretest adsTest ConceptPosttesting