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Strategic Planning

Strategic Planning. Lecture 11. Recap. Chapter Key Points Research: The Quest for Intelligence and Insight Consumer Research Consumer Research Process. Chapter Outline. Chapter Key Points Advertising Strategy Basic Strategic Planning Decisions Account Planning: What Is It?

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Strategic Planning

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  1. Strategic Planning Lecture 11

  2. Recap • Chapter Key Points • Research: The Quest for Intelligence and Insight • Consumer Research • Consumer Research Process

  3. Chapter Outline • Chapter Key Points • Advertising Strategy • Basic Strategic Planning Decisions • Account Planning: What Is It? • Planning for IMC

  4. Key Points • Differentiate between objectives, strategies, and tactics in strategic planning • Identify the six basic decisions in an advertising plan • Explain how account planning works • Outline the key features in an IMC plan

  5. Play… • Holiday Inn 'Kitchen Table' TV Commercial • Holiday Inn 'Rent Money' TV Commercial • Holiday Inn Commercial • Holiday Inn Commercial - Moving Out

  6. 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 Strategic Planning

  7. The business plan The marketing plan The advertising or IMC plan May cover a specific division of the company or a strategic business unit with a common set of problems A Three-Tiered Process

  8. The business plan The marketing plan The advertising or IMC plan Parallels the business strategic plan and contains many of the same components A Three-Tiered Process

  9. The business plan The marketing plan The advertising or IMC plan Operates with the same concern for objectives, strategies, and tactics as business and marketing plans A Three-Tiered Process

  10. Advertising Strategy Advertising strategy is what the advertiser says about the brand being advertised. It is the formulation of advertising message that communicates the brand’s value proposition. A five step process: Specify the Key Fact State the Primary Problem State the Advertising Objectives Implement the Creative Message Strategy Establish Mandatory Requirements Shimp, T.A. 2004, Advertising and Promotiona and other aspects of IMC

  11. The Advertising or IMC Plan Advertising plans provide the framework for the systematic execution of advertising strategies.

  12. Typical Advertising or IMC Plan Outline • Situation Analysis • Key Strategic Decisions • Media Strategy • Message Strategy • Evaluation of Effectiveness

  13. Situation Analysis • Background Research • TOWS Analysis • Key Problems and Opportunities

  14. Key Strategic Decision • Advertising/ IMC Objectives and Strategies • Target Audience • Brand Position • Brand Image and Personality • Budget

  15. Media Strategy • Media Objectives • Vehicle selection and budget allocation

  16. Message Strategy • Key Consumer Insight • Selling Premise • Big Idea • Executions

  17. Evaluation of Effectiveness Evaluation can be done in terms of • Sales • Profits • Customer Awareness, etc.

  18. Summary • Chapter Key Points • Advertising Strategy • Basic Strategic Planning Decisions

  19. References • Wells, W., Burnett, J. and Moriarty, S. (2006), Advertising Principles and Practice, Prentice-Hall, New Delhi, ND. • Shimp T, 2010, Advertising, Promotion and other Aspects of Marketing Communications, 8th edition, South-Western.

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