Zara Mahmood Advertising Clark Chapter 7 Strategic Planning Apple passes Cocacola http www nytimes com 2013 09 30 business media apple passes coca cola as most valuable brand html ref media r 1 gwh 4C93D2C83C79F9373A2E30AFAE4C7A15 Cocacola drops from 1 most valuable brand Apple and Google top 2 Interbrand report corporate identity and brand consulting owned by Omnicom Daily lives becoming more dependent on technology o Technology brands have more power to shape the way we live Becoming epitome of brand marketing High involvement product Listening to mental illness http www nytimes com 2013 10 02 business media a campaign urges listening to those torn by mental illness html r 0 Public Service Campaign what led them to this campaign o Learned people do not want to talk about it o Negative stigma for mental illnesses Increase awareness be a support system Focuses on people surrounding person with illness o Asking others to share their stories Building a community WHAT IS STRATEGIC PLANNING Strategic Planning The process of identifying a problem that can be solved with marcom Determining objectives deciding on strategies and implementing tactics Objectives what you want to accomplish Usually long term propositions Strategies How to accomplish the objectives Usually medium term in focus Tactics actions that make the plan come to life Tactics are more short term Seven principles that link creative thinking and strategic planning to business results Always start from scratch simplify the problem Demand a ruthlessly simple definition of the business problem be reductionist Zara Mahmood Advertising Clark Discover a proprietary emotion powerful consumer insight emotional truth Focus in size of idea not size of budget better to outsmart than outspend Seek out strategic risks benefits of prudent risks Collaborate or perish different disciplines corporate cultures working together Listen hard to your customer listening yields insight for competitive advantage The Business Plan Strategic planning is a three tiered process that starts with business plan Provide direction to specific plans for specialist areas Strategic Business Unit SBU A line of products or all the offerings under a single brand name Share common set of problems and factors Objective maximizing profit and return on investment ROI Is a Return on Investment measurement that shows whether the costs of conducting the business investment are more than matched by the revenue produced in return Revenue above the cost is where profit lies Mission Statement Concise expression of the broad goals and policies of the business unit Unique focused and differentiating The Marketing Plan Marketing Plan Developed for a brand or product line and evaluated annually Mirrors the company s business plan and contains many of the same components corporation o Focused on a specific brand rather than larger organization or Market Situation Analysis Based on extensive market research that assesses the external and internal environments that affect marketing operations o Company history brands competitive environment trends Share of Market Measurements referring to the percentage of the category purchases that are made by the brand s customers Zara Mahmood Advertising Clark Marketing Mix Strategies Decisions about the target market brand position product design and performance pricing and distribution as well as marcom Link overall strategic business plan with specific marketing programs The Advertising or IMC Plan Seeks to match the right audience to the right message and present the message in the right medium to reach that audience Audience insight message and medium heart of advertising plan WHAT S IN A CAMPAIGN PLAN Campaign Plan Is more tightly focused on solving a particular marketing communication problem in a specified time Variety of marcom messages carried in different media Typical Campaign Plan Outline Situation Analysis o Background Research o SWOTs strengths weaknesses opportunities threats o Key communication problems to be solved Key Strategic Campaign Decisions o Objectives o Target audience stakeholder targets in an IMC plan Zara Mahmood Advertising Clark o Brand position product features and competitive advantage o Campaign strategy key strategic approach and marcom tools Media Strategy points of contact in IMC plan o Where can we show up and talk to people o Media objectives o Media selection o Media planning and buying Vehicle selection Budget allocation Scheduling Message Strategy o Key consumer insight brand relationship insight in IMC o Message objectives o Selling premise o Big idea o Message design and executions Other Marcom Tools Used in Support o Public relations o Direct marketing o Sales promotion o Personal selling o Sponsorship o Mercahdising packaging point of purchase o Integration strategy maximizing synergy Campaign Management o Stay on task have a backend brand response to comments o Evaluation of effectiveness o Campaign budget Situation Analysis Backgrounding Researching and reviewing the current state of the business that is relevant to the brand and gathering all the pertinent information Situation Analysis Identify a problem that can be solved with communication Try to make sense of all the findings SWOT Analysis SWOT Analysis Tool used to make sense of the information gathered and identify a key problem related to a brand or product Strengths and weaknesses o Internally focuses Opportunities and threats o External marketing environment How to leverage SW and address OT Key Problems Zara Mahmood Advertising Clark Advertising planners must analyze market situation for communication problems that affect successful marketing of a product Also opportunities the advertising can create or exploit Advertising can only solve message related problems o Image attitude perception knowledge of information Cannot solve price availability or quality o CAN affect the way consumers perceive these factors Objectives Develop specific objectives to be accomplished during a specified time period Outline what the message is designed to achieve in the long term and how it will be measured Main Effects and Objectives Used to identify the most common consumer focused objectives Important for advertisers to know what to expect from a campaign or ad Some objectives are tightly focused on one particular effect o Others call for a more complex set of effects Measurable Objectives Importance of writing focuses and measurable advertising