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Marketing Communications

Marketing Communications. Starting Point: MCP!. Questions for Comm. Mix Development. Multiple Objectives: Which one? Multiple Segments: Which one? Multiple Mediums: Which one? Limited Revenues: How much?. WHERE IS THE PLAN? . Marketing Communications Plan.

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Marketing Communications

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  1. Marketing Communications Starting Point: MCP!

  2. Questions for Comm. Mix Development • Multiple Objectives: Which one? • Multiple Segments: Which one? • Multiple Mediums: Which one? • Limited Revenues: How much? WHERE IS THE PLAN?

  3. Marketing Communications Plan • Starting point for developing a communication mix • Defines the goal that has to be achieved • Defines the resources available • Defines the key challenges

  4. SOSTAC Planning System • Just one of the many approaches • Helps recall all the essential elements • Can be used for any kind of a plan • Most commonly used planning system by over 3000 managers worldwide • Works for both consumer and B2B products

  5. Enough selling…lets reveal the plan • Situation Analysis (where are we now?) • Objectives (where do we want to go?) • Strategy (how do we get there?) • Tactics (details of the strategy) • Action (implementation of plans) • Control (measurement, review & modification)

  6. Situation Analysis: It’s a war - Sun Tzu! • Those who triumph compute at their headquarters a great number of factors prior to a challenge. • Those who are defeated, compute at their headquarters a small number of factors prior to a challenge • Much computation brings triumph. Little computation brings defeat. How much more so with no computation at all. • By observing only this, I can see triumph or defeat!

  7. Situation Analysis • Performance Review (Sales, MS, Profitability) • Brand Review (Recall, Imagery, Strengths) • Competition Review (MS, Recall, Imagery, Portfolio) • Consumer Review (Segments, Usage, Needs, Decision)

  8. Objectives • We know where we are? • But, where do we want to go? • Define our objectives

  9. Good Objectives • Smart • Measurable • Actionable • Realistic • Time Specific

  10. Objectives: Mktg vs. Comm • Marketing Objectives • What do we want to achieve in terms of sales, market share, penetration, FOP etc.? • Communication Objectives • How will communication help us achieve the marketing objectives in terms of awareness, attitudes, interest, trials? • One follows the other!

  11. Examples of Marketing Objectives • Increase market share by X% in the next 12 months • Generate 5000 footfalls in the next 4 weeks • Increase distribution penetration by X% in 6 months

  12. Examples of Communication Objectives • Increase brand awareness by X% amongst SEC AB in 12 months • Improve image scores on VFM from 30 to 50 in the next 2 years • Reposition the brand from being old & unfashionable to young & trendy

  13. Good Communication Objectives • SMART • DAGMAR (defining advertising goals for measuring advertising responses) • Unawareness • Awareness • Comprehension • Conviction • Action • AIDA (attention, interest, desire and action)

  14. Strategy • We know where we want to go? • Lekin jaenge kaise? • Communication Strategy • Core TG • Priority Markets • Positioning / Communication Message • Communication Mix

  15. Stop & Sit • Segmentation (who will go after?) • Target Markets (where all will we get him?) • Objectives (will it meet our objectives?) • Positioning (what space do we need to occupy?) & • Stages (are there multiple stages or a sequence?) • Integration (does it all add up?) • Tools (which elements are we using?)

  16. Tactics • Details of the strategy • Communication Tools • Advertising • PR • Direct Mail • Promotion • Where? • How much? • When? • For how long?

  17. Action • Implementation of tactics • Gadha Majdoori • Network Management • People • Time • Prioritising • Pressure

  18. Control • Monitoring, measuring & controlling • Define the system • Measures (ATP) • Frequency of measurement (Q, HY, Y) • Who does it? (Internal Team / MR Agency) • Action mechanism (What? Who? When?)

  19. Ek baar phir se? • Situation Analysis (where are we now?) • Objectives (where do we want to go?) • Strategy (how do we get there?) • Tactics (details of the strategy) • Action (implementation of plans) • Control (measurement, review & modification)

  20. Case Study #1 Bank of Baroda

  21. Bank of Baroda • Not seeing opening of any new accounts in the last 3 years • 40% of existing accounts also maintaining QMB to retain the A/C • Growth being witnessed by ICICI Bank & HDFC Bank • Management confirms that BOB provides all the products / services that are offered by ICICI Bank & HDFC Bank • The Marketing Objective defined by the management in the next 12 months is to activate current account holders • You as the ‘Marketing Team’ are required to make the MCP using SOSTAC as a planning approach

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