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4

  1. 1. Promotions Opportunity Analysis Chapter 4 4-
  2. 2. Chapter Overview 4- <ul><li>Promotions opportunity analysis process </li></ul><ul><li>Promotional efforts </li></ul><ul><li>Consumer market segments </li></ul><ul><li>B-to-B segmentation programs </li></ul>
  3. 3. 1) Conduct a communications marketing analysis. 2) Establish communications objectives. 3) Create a budget. 4) Create communications strategy. 5) Match tactics with strategy . Promotion Opportunity Analysis Five Steps
  4. 4. 1) Conduct a communications marketing analysis. 2) Establish objectives. 3) Create a budget. 4) Create communications strategy. 5) Match tactics with strategy . Promotion Opportunity Analysis Step One
  5. 5. Communication Market Analysis Step One <ul><li>Competitors </li></ul><ul><li>Opportunities </li></ul><ul><li>Target markets </li></ul><ul><li>Customers </li></ul><ul><li>Product positioning </li></ul>4-
  6. 6. Competitors <ul><li>Major competitors </li></ul><ul><li>Communication strategies of major competitors </li></ul>Sources of info: <ul><li>Secondary data </li></ul><ul><li>Other people </li></ul><ul><li>Primary research </li></ul>Identify: 4-
  7. 7. Opportunities <ul><li>Ignored Customers </li></ul><ul><li>Saturated Markets </li></ul><ul><li>Benefits not articulated clearly </li></ul><ul><li>Marketing approach </li></ul><ul><li>Brand positioning </li></ul>4-
  8. 8. Target Markets <ul><li>Benefits sought. </li></ul><ul><li>Methods of reaching markets. </li></ul><ul><li>Appeals to each market. </li></ul><ul><li>Needs not being met. </li></ul><ul><li>Demographic and psychographic profile of each market. </li></ul>4-
  9. 9. Customers <ul><li>Three Types </li></ul><ul><li>Current company customers </li></ul><ul><li>Customers of competitors </li></ul><ul><li>Potential customers who have not purchased product. </li></ul>4-
  10. 10. Product Positioning <ul><li>Perception </li></ul><ul><ul><li>In mind of consumers </li></ul></ul><ul><ul><li>Relative to competition </li></ul></ul><ul><li>Created by factors such as </li></ul><ul><ul><li>Product quality </li></ul></ul><ul><ul><li>Prices </li></ul></ul><ul><ul><li>Distribution </li></ul></ul><ul><ul><li>Image </li></ul></ul><ul><ul><li>Marketing communications </li></ul></ul>4-
  11. 11. Positioning Strategies <ul><li>Attributes </li></ul><ul><li>Competitors </li></ul><ul><li>Use or application </li></ul><ul><li>Price/Quality </li></ul><ul><li>Product user </li></ul><ul><li>Product class </li></ul><ul><li>Cultural symbol </li></ul>4-
  12. 12. 1) Conduct a communications marketing analysis. 2) Establish Communication objectives. 3) Create a budget. 4) Create communications strategy. 5) Match tactics with strategy . Promotion Opportunity Analysis Step Two
  13. 13. Establish Communication Objectives Step Two <ul><li>Develop brand awareness. </li></ul><ul><li>Increase category demand. </li></ul><ul><li>Change beliefs or attitudes. </li></ul><ul><li>Enhance purchase actions. </li></ul><ul><li>Encourage repeat purchases. </li></ul><ul><li>Build customer traffic. </li></ul><ul><li>Enhance firm image. </li></ul><ul><li>Increase market share. </li></ul><ul><li>Increase sales. </li></ul>4-
  14. 14. Factors Impacting Relationship Between Promotions and Sales <ul><li>Goal of promotion </li></ul><ul><li>Threshold effects </li></ul><ul><li>Carryover effects </li></ul><ul><li>Wear out effects </li></ul><ul><li>Decay effects </li></ul><ul><li>Random events </li></ul>4-
  15. 15. Sales-Response Curve
  16. 16. 4- A Decay Effects Model
  17. 17. 1) Conduct a communications marketing analysis. 2) Establish objectives. 3) Create a budget. 4) Create communications strategy. 5) Match tactics with strategy . Promotion Opportunity Analysis Step Three
  18. 18. Create Communications Budget Step Three <ul><li>Percentage of sales </li></ul><ul><li>Meet-the-competition </li></ul><ul><li>What we can afford </li></ul><ul><li>Objective and task </li></ul><ul><li>Quantitative models </li></ul>4-
  19. 19. Promotion Budgets
  20. 20. 4- Advertising Expenditures by Media
  21. 21. 1) Conduct a communications marketing analysis. 2) Establish objectives. 3) Create a budget. 4) Create communications strategy. 5) Match tactics with strategy . Promotion Opportunity Analysis Step Four
  22. 22. Create Communications Strategies Step Four <ul><li>Broad, long-term guidelines. </li></ul><ul><li>Link to opportunities and threats. </li></ul><ul><li>Fit with overall company message, image, and themes. </li></ul>4-
  23. 23. 1) Conduct a communications marketing analysis. 2) Establish objectives. 3) Create a budget. 4) Create communications strategy. 5) Match tactics with strategy . Promotion Opportunity Analysis Step Five
  24. 24. Match Tactics with Strategies Step Five <ul><li>Tactics support strategies </li></ul><ul><li>Examples of tactics </li></ul><ul><ul><li>Specific advertisements </li></ul></ul><ul><ul><li>Personal selling enticements </li></ul></ul><ul><ul><li>Sales promotions </li></ul></ul><ul><ul><li>Trade promotions </li></ul></ul><ul><ul><li>Price of products </li></ul></ul><ul><ul><li>Package design and labeling </li></ul></ul>4-
  25. 25. Market Segmentation <ul><li>Group with distinct characteristics. </li></ul><ul><ul><li>Homogeneous within </li></ul></ul><ul><li>Differs from other segments and population. </li></ul><ul><ul><li>Heterogeneous across </li></ul></ul><ul><li>Consumer segments </li></ul><ul><li>Business segments </li></ul>4-
  26. 26. Advantages to Segmenting Markets <ul><li>Helps identify company strengths and weaknesses. </li></ul><ul><li>Identifies the best set of customers. </li></ul><ul><li>Clarifies marketing objectives associated with specific target markets. </li></ul><ul><li>Allows for more precise communications budgeting. </li></ul><ul><li>Links firm’s strategies and tactics to a specific target group </li></ul>
  27. 27. Consumer Segments <ul><li>Demographics </li></ul><ul><li>Psychographics </li></ul><ul><li>Generations </li></ul><ul><li>Geographic </li></ul><ul><li>Geodemographics </li></ul><ul><li>Benefit </li></ul><ul><li>Usage </li></ul>4-
  28. 28. Geodemographic Segmentation <ul><li>Combines </li></ul><ul><ul><li>Demographic census data </li></ul></ul><ul><ul><li>Geographic information </li></ul></ul><ul><ul><li>Psychographic information </li></ul></ul><ul><li>PRIZM </li></ul><ul><ul><li>62 market segments </li></ul></ul>4-
  29. 29. <ul><li>NAICS/SIC code </li></ul><ul><li>Size of business </li></ul><ul><li>Geographic location </li></ul><ul><li>Product usage </li></ul><ul><li>Customer value </li></ul>B-to-B Segmentation 4-
  30. 30. The North American Industry Classification System (NAICS) Http://www.industrialwhoswho.com/company/naics.cgi Standard Industrial Classification (SIC) The Industrial Who’s Who Web Site Http://www.industrialwhoswho.com Http://www.industrialwhoswho.com/company/sic.cgi Information Sources
  31. 31. Determine a Market Segment Viability <ul><li>The individuals or businesses within the segment are homogenous </li></ul><ul><li>The market segment is different from the population as a whole and distinct from other market segments. </li></ul><ul><li>The market segment is large enough to be financially viable to target with a separate marketing campaign. </li></ul><ul><li>The market segment must be reachable through some type of media or marketing communications method. </li></ul>
  32. 32. GIMC (Global Integrated Marketing Communications) <ul><li>Borderless marketing plan </li></ul><ul><li>Think global – but act local </li></ul><ul><li>Local partnerships </li></ul><ul><li>Segmentation strategies </li></ul><ul><li>Market communication analysis </li></ul><ul><li>Communication objectives </li></ul>4-

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