chapter seven developing marketing and advertising plans mcgraw-hill/irwin essentials of...
TRANSCRIPT
chapter seven
Developing Marketing and
Advertising Plans
McGraw-Hill/IrwinEssentials of Contemporary Advertising Copyright © 2007 The McGraw-Hill Companies, Inc. All rights reserved.
7-2
Objectives_1
Explain the role and importance of a marketing plan
Give examples of need-satisfying and sales-target objectives
Explain the difference between objectives, strategies, and tactics in marketing and advertising plans
7-3
Objectives_2
Discuss the suitability of top-down, bottom-up, and integrated marketing communications planning
Describe how marketing and advertising plans are related
Explain how to establish specific, realistic, and measurable objectives
Explain how advertising budgets are determined
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The Importance of Marketing Planning
The marketing plan assembles all the pertinent facts about– the organization– the market it serves– its products, services, customers, and
competition
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Top-Down Marketing Plan
Situation Analysis
Marketing Objectives
Marketing Strategy
Marketing Tactics
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Objectives
Corporate objectives are stated in terms of profit, net worth, financial ratios, and reputation
Marketing objectives relate to the needs of the target market and sales goals– Need-satisfying objectives– Sales-target objectives
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Marketing Strategy
Step 1: Define the target market
Step 2: Determine the strategic positioning
Step 3: Develop the marketing mix
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Positioning Strategy Approaches
Product attribute Price/quality Use/application Product class Product user Product
competitor Cultural symbol
A brand’s position can sometimes be discerned from its tagline:– BMW– Bounty– Sara Lee– Others?
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Why are Relationships Important?
The cost of lost customers– Lifetime customer value (LTCV)
The cost of acquiring new customers
The value of loyal customers
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Integrated Marketing Communications
The process of building and reinforcing mutually profitable relationships with employees, customers, other stakeholders, and the general public by developing and coordinating a strategic communications program that enables them to have a constructive encounter with the company/brand through a variety of media or other contacts
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Exhibit 7-4 The Integration Triangle
Say
Confirm Do
Planned messages
Unplanned messages Product, service messages
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The Advertising Plan
Represents an outgrowth of the marketing plan
Organizes the marketing plan’s situation analysis into a SWOT analysis
Sets advertising objectives Determines advertising strategy Sets budget
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Advertising Strategy
Creative Strategy– Address target
audience– Restates the
objective– Specifies key
benefits to be communicated
– Offers support for benefits
Media Strategy– Defines
communication objectives
– Describes use of media and vehicles
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Methods of Allocating Funds
Percentage-of-sales Percentage-of-profit Unit-of-sale Competitive-parity Share-of-market Objective task
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Key Terms_1
Action programs Advertising plan Advertising strategy Bottom-up
marketing Corporate objectives Creative strategy Endcap promotion
Integrated marketing communication
Lifetime customer value
Marketing objectives Marketing plan Marketing strategy Media strategy
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Key Terms_2
Need-satisfying objectives
Objective/task method
Percentage-of-sales method
Planned messages Positioning Product life cycle
Product messages Relationship
marketing Sales-target
objective Service messages Share-of-market/
share of voice method