Strategic Marketing Essentials for Success
The key aspects of strategic marketing including sales objectives, target audience identification, market timing, geographical focus, competitive positioning, and brand differentiation. Understand how to formulate effective goals, reach the right prospects, and create a unique competitive advantage. Dive into media planning strategies for successful marketing campaigns.
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Presentation Transcript
Objectives What are your goals? Targeting Who are your best prospects? Timing When to market the product/service? Geography Where to concentrate your efforts? Positioning What s your place relative to competition? Brand personality Human characteristics of your brand? Competitive Advantage What differentiate your brand? Then do the Creative Brief
Sales objectives focused on direct action, such as a buying response Goal: generate short-term increases in sales. Be realistic. 1-2% increase Communications objectives focused on building awareness or image. Goal: create and improve knowledge or favorable perception of the product.
Determining your best prospects Not all prospect groups should be targets Must prioritize among possibilities Primary, secondary, tertiary markets Users, buyers, and influencers Research identified prospects Strategy defined targets
What parts of the country? What types of markets? What areas of a market? Regions, DMAs, metro rings What times of the year? What holiday seasons? What other timing factors? Time of year, month, week, and day
What is your place in the market? How are you understood by consumers? What can you deliver to consumers? What human characteristics/personality traits can be attributed to your brand? Must be something consumer can relate to
What give you an edge on competitors? A unique set of features that are seen as significant and superior by consumer Key to brand loyalty and brand equity Cost Maximize value to consumers (Walmart) Differentiation Unique experience (Apple) Niche Focus on narrow market (Rolex)
Function of Media Planning Media Planning Objectives/Strategies Media Selection Media Information Sources Media Outlets and Options
Goal: Delivering ad to target audience Decisions: Which audience? Where? When? How long? Increasing complexity of media planning
The ideal moment for exposure to ad Consumer in info-seeking mode Consumer in purchase mode Interest and attention are high
Reaching the target Geography: where to advertise Timing: when to advertising Duration: how long to advertise
Matching info on: Target audience profile Mass media audiences Categories of information: Audience demographics Product user characteristics
Geographic sales differences Differential dollar allocations Regional distribution patterns Focused advertising expenditures Targeted markets or hubs Such are airlines or hotel chains
Season timing Holiday timing Days-of-the-week timing Hours-of-the-day timing When is as important as Where
Size of the advertising budget May need to select times to focus Consumer-use cycles When are sales highest, when is purchase? Competitors advertising Share of voice / Share of dollars
Continuity Flighting w/ hiatus Pulsing
Content context: compatibility with product Media clutter Share of voice in a given medium
Starting point is grounded in planning: Situation Analysis and Account Strategy Media objectives What are the media goals? Strategy: Media selection Finding the most appropriate media Flow Chart Scheduling Month-by-month budget allocation
Important factors: Area sales patterns Month-by-month sales patterns Distribution patterns Competitors advertising patterns
Media selection based on: Audience research Media costs Important factors: Media popularity/usage Media audience profiles Media cost forecasting Media characteristics
Purpose Coverage Targeting Support Audience/Product Involvement High vs. Low Involvement Type of Appeal Rational (Cognitive) Emotional (Affective)
Print Media Place Media Broadcast Media Narrowcast Media
Print Media Newspapers Magazines
National Newspapers Metro Daily Newspapers Regional Daily Newspapers Local Weekly Newspapers
Mass market (relatively wide reach) Readership increases with: Age Education Income
Classified Display Local vs. National Supplements
Geographic targeting High credibility Permanence/User-paced High information potential
Limited color Poor reproduction quality One day life span Unattractive layouts Hard to measure actual exposure Massive decline in readership
Coverage medium Geographic targeting Local retail ads High involvement consumers/products Rational appeals
General circulation magazines Specialized Magazines Target marketing Trade Magazines
High color reproduction quality High credibility Permanence/User-paced Pass along factor High information potential
Hard to measure actual exposure Long lead times Expensive: High CPMs Decline in news magazines
Highly specialized target marketing Geographic targeting with zip editions High involvement consumers/products Rational and emotional appeals
Billboards Transit Ambient
High frequency Geographic flexibility Low cost per exposure
Fleeting message Limited information Long lead times Location unavailability Visual pollution
Good coverage medium Localized support medium Low involvement products
Captive audience Low cost Supports mass transit systems
Lack of status Cluttered environment Limited information potential
Localized support medium High and low involvement products
Reasons for growth of ambient media: A decline in power of traditional media. Greater demand for point-of-sale contact. Narrowcasting to specific audience. Extremely versatile.
National Television Local Television Cable Television Syndicated Television Radio
Mass coverage Low cost per thousand (CPM) Some content-based targeting High impact Creativity/stopping power
High production costs High absolute media costs Brevity Impermanence/Not user-paced Low information potential Clutter Zipping and Zapping
Coverage medium Low involvement consumers/products Emotional appeals
Local Affiliates Local Independents
