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Chapter Overview

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Chapter Overview

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  1. Chapter Overview Promotions Opportunity Analysis 5 • Promotions opportunity analysis process. • Promotional efforts. • Consumer market segments. • B-to-B segmentation programs.

  2. Greeting Cards 5 Concerning your last greeting card purchase: • What brand of greeting cards did you purchase? • How many cards did you purchase? • Where did you purchase the card? • For what occasion do you make the purchase? General questions concerning greeting cards: • How many cards do you purchase per year? • Name five brands of greeting cards. • Do you use virtual cards? • Can you recall any advertisements for greeting cards? Discussion Slide

  3. The Marketing Plan • Promotion Opportunity Analysis • (marketers identify target audience) • Five Steps • Conduct a communication market analysis. • Establish objectives. • Create a budget. • Prepare a promotional strategy. • Match tactics with strategy.

  4. Promotions Opportunity AnalysisStep 1Conduct a CommunicationsMarket Analysis • Competitive analysis • Opportunity analysis • Target market analysis • Customer analysis • Positioning analysis

  5. Competitive Analysis • Identifies major competitors. • Identifies communication strategies and tactics of each competitor. Sources of information • Secondary data • Other people • Primary research

  6. Opportunity Analysis(reveals communication opportunities that can be exploited) • Are there customers that the competition is ignoring? • Which markets are heavily saturated? • Are the benefits of our products being clearly articulated? • Are there opportunities to build relationships using a slightly different marketing approach? • Are there opportunities that are not being pursued?

  7. Target Market Analysis • What benefits does each target market want from the product? • How can each target market be reached? • What appeal works best for each target market? • What needs of the target market are not being met by a competing firm? • What is the demographic and psychographic makeup of each target market?

  8. Customer Analysis Three Types of Customers • Current company customers. • The competitors’ customers. • Potential customers who currently do not purchase the product but may become interested.

  9. Positioning Analysis • Positioning is the perception created in the consumers mind regarding the nature of the company and its products relative to the competition. • Positioning is created by factors such as product quality, prices, distribution, image and marketing communications.

  10. Promotions Opportunity AnalysisStep 2Establish Communication Objectives Possible Objectives: • Develop brand awareness • Increase good/service category demand • Change customer beliefs or attitudes. • Enhance purchase actions • Encourage repeat purchases • Build customer traffic • Enhance firm image • Increase market share • Increase sales • Reinforce purchase decisions

  11. Methods of Determining the Marketing Communications Budget Promotions Opportunity AnalysisStep 3 Create a Communications Budget • Percentage of sales • Meet-the-competition • “What we can afford” • Objective and task • Quantitative models

  12. F I G U R E 5. 4 A Sales-Response Function Curve

  13. F I G U R E 5 . 6 Global Advertising Expenditures Source: Juliana Koranteng and Normandy Madden, “Ranking of the Top Global Ad Markets,” Advertising Age International, (May 2000), pp. 17-20.

  14. T A B L E 5 . 1 Comparison of B-to-B and Consumer Communications Expenditures

  15. STOP Database of Advertising Expenditures INTEGRATED LEARNING EXPERIENCE Http://www.adage.com/dataplace/lna/index.html • Some questions to explore: • Who are the top ten national advertisers? • Who are the top advertisers for the different media such as magazines, newspapers, outdoor, network TV and national spot radio? • Who are the top advertisers in the different product categories such as fast-food burger restaurants, soft drinks, airlines and hair care products?

  16. Top Ten National Advertisers • General Motors $ 2.940 billion • Procter & Gamble $ 2.650 billion • Phillip Morris $ 2.049 billion • Daimler Chrysler $ 1.646 billion • Sears, Roebuck & Co. $ 1.578 billion • Ford Motor Co. $ 1.520 billion • AT&T Corp. $ 1.427 billion • Walt Disney Co. $ 1.358 billion • PepsiCo $ 1.263 billion • Diageo $ 1.205 billion Source: Advertising Age at http://www.adage.com/cgi-bin/adage.cgi

  17. Fast-Food Burger RestaurantsMarket Share vs Advertising Expenditure Restaurant Market Share Expenditure (Thousands) • McDonald’s 43.1% $ 627.3 • Burger King 21.9% $ 403.7 • Wendy’s 12.2% $ 217.8 • Hardee’s 5.6% $ 48.1 • Jack-in-the-Box 4.0% $ 63.5 Source: Advertising Age

  18. Promotions Opportunity AnalysisStep 4Prepare a Promotional Strategy • Communication strategies are broad, long-term guidelines for the marketing communications program. • Should be linked to opportunities and threats identified by the communication market analysis. • Should fit with the company’s overall message, image and themes.

  19. Promotions Opportunity AnalysisStep 5Match Tactics with Strategies Tactics support the communication strategies. Examples of tactics would include: • Specific advertisements. • Personal selling enticements for sales reps. • Sales promotions such as coupons, premiums, sweepstakes, and contests. • Special product packages and labels. • Price changes. • Trade discounts to retailers.

  20. Advantages to Segmenting Markets • Market segmentation – dividing the marketing into smaller homogeneous groups • Helps identify company strengths and weaknesses. • Identifies the best set of customers. • Clarifies marketing objectives associated with specific target markets. • Allows for more precise communications budgeting. • Links firm’s strategies and tactics to a specific target group

  21. Tests to determine if a particular market segment is viable • Homogeneous within • Heterogeneous between • Substantial • Operational

  22. F I G U R E 5 . 7 Methods of Segmenting Consumer Markets • Demographics • Psychographics • Generations • Geographic • Geodemographics • Benefits • Usage

  23. A NailCares advertisement targeted to females.

  24. STOP INTEGRATED LEARNING EXPERIENCE Claritas: North America and Europe Http://www.claritas.com PRIZM and MicroVision lifestyle groups from your zip code Http://www.dellvader.claritas.com/YAWYL/Default.wjsp

  25. F I G U R E 5 . 1 0 Methods of Segmenting B-to-B Markets • NAICS/SIC code • Type of business • Size of business • Geographic location • Product usage • Purchase decision process • Customer value

  26. A business-to-business advertisement based on the product usage segmentation strategy.

  27. STOP INTEGRATED LEARNING EXPERIENCE Standard Industrial Classification (SIC) http://www.industrialwhoswho.com/company/sic.cgi The Industrial Who’s Who Web Site http://www.industrialwhoswho.com

  28. F I G U R E 5 . 1 1 Successful Global Integrated Marketing Communications Tactics • Understand the international market • A borderless marketing plan • Thinking global but act local • Local partnerships

  29. Building Your IMC Campaign Building Your IMC Campaign • Prepare the following components of the communications market analysis • Competitive analysis • Opportunity analysis • Target market analysis • Customer analysis • Market segmentation strategy • IMC objectives • IMC budget