adv 435 ch 4 opportunities
TRANSCRIPT
Appraising Opportunities
and
Setting Objectives
Chapter 4
Appraising Opportunities
and
Setting Objectives
Information flow is
CONTINUOUS,
So decisions are subject to
CHANGE,
Pending new information
Appraising Opportunities
and
Setting Objectives
From Analysis, three
conclusions need to be
drawn:
•Brand Value
•Problems
•Opportunities
Appraising Opportunities
and
Setting Objectives
These will provide
Directionfor Campaign
Appraising Opportunities
and
Setting ObjectivesFlow of Campaign Process
•Situation Analysis
•Determine Equity
•Identify Problems
•Uncover Opportunities
•Define Target Market
•Develop Strategy
•Execute Tactics
Appraising Opportunities
Situation Analysis leads to
Determining Brand Equity
- Connecting
Tangible Product or
Intangible Service to:
- Thoughts
- Feelings
- Images
Appraising Opportunities
Result of Connection is….
Creative Tone
Appraising Opportunities
Test via:
Attitudes and
Attributes
Research
Appraising Opportunities
Brand Equity
Why strive to increase?
Appraising Opportunities
INCREASINGBrand Equity
• Reduces reliance on
competitive pricing to
build sales.
• Impacts media strategy
by allowing for more
selective targeting.
Appraising Opportunities
Brand Equity
Expectations of National Brands
• Quality
• Innovative
• Can Create Generics &
Private Label brands
Defining Problems
&Identifying Opportunities
Problem = Any BARRIER to
achieving an OBJECTIVE.
Could be:
- Past (Denny’s)
- Present (BP)
- Future (Facebook?)
Defining Problems
&Identifying Opportunities
Problem: Impact is usually on:
- Sales
- Market Share
Defining Problems
&Identifying Opportunities
Problem: Of the 4 P’s……
Promotion is the easiest to get
wrong!!!!!!
&Identifying Opportunities
Why?
• Can’t change Product, Place or
Price as easily
• Is Target correct?
• Is Message correct? Tone?
• Is Medium correct? One? More?
• Is Awareness High Enough?
• Are we breaking through
clutter?
Identifying Opportunities
Opportunity = Any situation or
circumstance with a potential
advantage:
• Assuming company CAN and WILL
Turning Problems into
Opportunities
Heinz Ketchup:
Problem: Pours too slowly
Opportunity: “Anticipation”
Timex Watches:
Problem: Cheap Image
Opportunity: “Takes a lickin’ &
keeps on tickin’
Turning Problems into
Opportunities
Smuckers:
Problem: Funny Name
Opportunity: “With a name like
Smuckers, it HAS to be good!”
Miller Lite:
Problem: Not Macho Image
Opportunity: “Everything you
always wanted in a beer…& less!
Turning Problems into
Opportunities
Aflac:
Problem: Name and product
Opportunity: Duck/Quack for
name; Clever ads for product
TD Bank:
Problem: ID conversion from
Commerce Bank
Opportunity: Regis & Kelly
Turning Problems into
Opportunities
Name some others:
Brand
Problem
Opportunity
Turning Problems into
Opportunities
Problem areas:External
•Geography
•Political
•Cultural
Turning Problems into
Opportunities
Problem areas:Internal
•Staff/Talent
•Financial
•Production
•Concept
•Engineering
Turning Problems into
Opportunities
Problem areas:Internal
•Marketing
•Broad vs. Myopic
•Needs of Company vs.
Wants of Customer
•Transactions vs.
Relationships
Turning Problems into
Opportunities
Opportunities:
Focus on Increasing Sales
Turning Problems into
Opportunities
• Retain Existing Customers
• Get Customers to use More
• Find New Uses
• Find New Users
• Competition
• New Domestic targets
• International
Turning Problems into
Opportunities
• Product or Brand Advantages
• New & Improved to offset disadv.
• Service
• Technology
• Pricing
• Distribution
• Promotion – New Media
Turning Problems into
Opportunities
Types of TARGET MARKET• Undifferentiated: Mass Market
• Differentiated: Segmented
•Primary
• Secondary
• Tertiary
• Demographics, Lifestyle
• Psychographics, Usage
Turning Problems into
Opportunities
Types of TARGET MARKET• Concentrated = Niche Markets
•Microbrews
•Premium Coffees/Teas
•Rolex, Tiffany, Rolls Royce
•Ethnic Restaurants
Setting Objectives
Objective = Desired Result
Setting Objectives
Statement of Objective(s)(What do you expect to accomplish)
• Quantify Results
• Establish Time Frame
• Be Specific
• Be Realistic
Marketing vs. Advertising
Objectives
Share of Market vs.
Share of Voice
Sales vs. Awareness
(except direct response)
Marketing vs. Advertising
Objectives
Action Words:
• Establish
• Maintain
• Increase
• Reinforce
• Change
• Intensify
Advertising Communication
Tasks
Effect following stages enroute to
purchase decision:
•Unawareness to awareness
•Comprehension/Knowledge
•Image/Liking or disliking
•Attitude/Preference/Conviction
•Action/Purchase
Advertising Communication
Tasks
Weigh:
•Liking Commercials vs. Product
•Brand Image vs. Product Qualities or
Attributes
Linking Objectives
• Start with Corporate
• Drill down to:
•Marketing
•Advertising
•Creative
•Media
•Sales promotion
•PR
Soundness of Objectives
• Can Plan accomplish this?
• Is Objective linked?
• Is it strategy, tactic or merely
hope?
• Specific? Cost Effective?
• Realistic? Attainable?
• Too Complex? Too simple?
• Measureable?