ADPR3100 1st Edition Lecture 8 Outline of Last Lecture a Consumer Led Paradigm i Consumer led paradigm ii Hip consumerism Outline of Current Lecture II Strategic Planning a Brands and planning b Key considerations c Key parts Current Lecture Friday February 7 Lecture 9 Strategic Planning Brands and planning Key considerations Key parts Feb 13 and 14 attend presentations and can earn 5 extra credit points 3 studies posted on SONA These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Campaign components this is what a campaign is 1 Objective o the objective is the goal of the campaign 2 Strategy the plan o this is the overall plan for reaching the goal you set 3 Tactics the execution o these are the actual ads that you are going to do o these are the specific steps you are going to use to deliver the strategy important that these 3 components link like a chain Why brands are valuable The brand differentiates products from competitors Ex Super bowl product about coke o It was all about brand advertising they didn t talk about the product calories etc anything about the product it was all about the brand they were selling the brand not product Instant recognition o When effectively publicized creates instant recognition visually logos o You don t need any words Ex Starbucks logo you can automatically tell without words this is why brands are valuable Strategic planning key parts on cultivating brand Think about it as a triangle turned sideways o Start with all these research etc then boil it down to a single page of what you re going to do Brand equity audit analysis first stage o Main question this first stage answers is where is our brand now How do people feel about our brand now Strategic options and recommendations second stage o Once you figure out where your brand is now need to figure out how you want to change brand to achieve goals Brand equity research third stage o What specific aspects of the brand do we want to change o Here you specify the key aspects of the brand to change Creative brief last stage o What is our resulting plan of action o Based on all the done research this is what you re going do o Best ones are one side of one piece of paper o Creative brief A good one is really hard to do Single page that summarizes Product and its competitors What do we want the campaign to accomplish objective Who are we talking to target market What do they think now about the product or service current brand or positioning What do we want them to think about the product or service desired brand or positioning Why should they think this key features and benefits This is where you throw in the benefits of these features as evidence for why people should believe what you re telling them What is our message the one thing The one main thing you want people to understand after seeing your ad Product Products have a life cycle they are born live then are gone Useful for thinking about it like this for advertising because if you can pin down the life cycle stage of what life cycle your product is in you have a good idea of how you should advertise it o Determines the best kind of advertising This life cycle idea suggests that there are specific stages in the life of the product that happen in the same sequence Life cycle Pioneering stage o Stage in product when it is first introduced or marketed to a particular target market Competitive stage o Where the product already has some market awareness and it is competition now Retentive stage o This is when the product has been around for a while not trying to get new markets but hang on to the market that it has Example PCs 1980s IBM retentive stage o at the time IBM was the only game in town o limited appeal you could only see characters and letters you had to type in commands to make machine work o advertising matched the target market being dry dull and technical very producer led advertising Apple Macintosh pioneering stage o Menu and icon interface o Broader potential appeal APPLE Ads Pioneering stage Apple was a new and innovative product Products in terms of marketing objective need to create the market Apple needed to create the market who would buy this product o So their communications objective was to create awareness in this pioneering stage show that this thing is out there o By doing so you are also trying to identify the need that this product can address that people weren t even aware of Ads competitive stage Apple moved into this stage after now it was in head to head competition with Windows PCs So its marketing objective was not to create the market but now to increase sales and market share Communications objective now was for their advertising to position this product o Positioning in advertising means placing your product in relation to your competitors o Unique features of your product that make it more desirable o Head to head ads calling out competitor Ads retentive stage Marketing objective here is to maintain market share and consumer loyalty hang on to what you have Objective for your campaigns is largely to brand and continue to build and maintain these preferred associations people have about your product such ads are highly visual irrelevant for info b c target market already knows that Stage determined by market how you establish which stage your product is in o Which target market you are selling to determines which stage you are in o Pioneering stage is determined if you are selling to new buyers a target market that has never thought about buying your product o Competitive stage is when you are selling to undecided buyers people who aren t brand loyal yet also a lot of competition in market o Retentive stage is when you are talking to brand loyal buyers you don t have to convince them Life cycle not linear but cycle Products are often reinvented in this retentive stage and start the whole process all over again Ex cars each product could be talking to a different market for one may be competitive one may be pioneering Competitors Competitor is any force that inhibits the sale of yours Competitors are typically put into being a direct competitor or indirect competitor o Direct is a force inhibits sale of your product in the same product category as yours o Indirect competitor inhibits your sale but is in a different product category than yours each could be more important for differing campaigns Campaign for