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4 4 Presentation Transcript

  • Promotions Opportunity Analysis Chapter 4 4-
  • Chapter Overview 4-
    • Promotions opportunity analysis process
    • Promotional efforts
    • Consumer market segments
    • B-to-B segmentation programs
  • 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
  • 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
  • Communication Market Analysis Step One
    • Competitors
    • Opportunities
    • Target markets
    • Customers
    • Product positioning
    4-
  • Competitors
    • Major competitors
    • Communication strategies of major competitors
    Sources of info:
    • Secondary data
    • Other people
    • Primary research
    Identify: 4-
  • Opportunities
    • Ignored Customers
    • Saturated Markets
    • Benefits not articulated clearly
    • Marketing approach
    • Brand positioning
    4-
  • Target Markets
    • Benefits sought.
    • Methods of reaching markets.
    • Appeals to each market.
    • Needs not being met.
    • Demographic and psychographic profile of each market.
    4-
  • Customers
    • Three Types
    • Current company customers
    • Customers of competitors
    • Potential customers who have not purchased product.
    4-
  • Product Positioning
    • Perception
      • In mind of consumers
      • Relative to competition
    • Created by factors such as
      • Product quality
      • Prices
      • Distribution
      • Image
      • Marketing communications
    4-
  • Positioning Strategies
    • Attributes
    • Competitors
    • Use or application
    • Price/Quality
    • Product user
    • Product class
    • Cultural symbol
    4-
  • 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
  • Establish Communication Objectives Step Two
    • Develop brand awareness.
    • Increase category demand.
    • Change beliefs or attitudes.
    • Enhance purchase actions.
    • Encourage repeat purchases.
    • Build customer traffic.
    • Enhance firm image.
    • Increase market share.
    • Increase sales.
    4-
  • Factors Impacting Relationship Between Promotions and Sales
    • Goal of promotion
    • Threshold effects
    • Carryover effects
    • Wear out effects
    • Decay effects
    • Random events
    4-
  • Sales-Response Curve
  • 4- A Decay Effects Model
  • 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
  • Create Communications Budget Step Three
    • Percentage of sales
    • Meet-the-competition
    • What we can afford
    • Objective and task
    • Quantitative models
    4-
  • Promotion Budgets
  • 4- Advertising Expenditures by Media
  • 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
  • Create Communications Strategies Step Four
    • Broad, long-term guidelines.
    • Link to opportunities and threats.
    • Fit with overall company message, image, and themes.
    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 Five
  • Match Tactics with Strategies Step Five
    • Tactics support strategies
    • Examples of tactics
      • Specific advertisements
      • Personal selling enticements
      • Sales promotions
      • Trade promotions
      • Price of products
      • Package design and labeling
    4-
  • Market Segmentation
    • Group with distinct characteristics.
      • Homogeneous within
    • Differs from other segments and population.
      • Heterogeneous across
    • Consumer segments
    • Business segments
    4-
  • Advantages to Segmenting Markets
    • 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
  • Consumer Segments
    • Demographics
    • Psychographics
    • Generations
    • Geographic
    • Geodemographics
    • Benefit
    • Usage
    4-
  • Geodemographic Segmentation
    • Combines
      • Demographic census data
      • Geographic information
      • Psychographic information
    • PRIZM
      • 62 market segments
    4-
    • NAICS/SIC code
    • Size of business
    • Geographic location
    • Product usage
    • Customer value
    B-to-B Segmentation 4-
  • 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
  • Determine a Market Segment Viability
    • The individuals or businesses within the segment are homogenous
    • The market segment is different from the population as a whole and distinct from other market segments.
    • The market segment is large enough to be financially viable to target with a separate marketing campaign.
    • The market segment must be reachable through some type of media or marketing communications method.
  • GIMC (Global Integrated Marketing Communications)
    • Borderless marketing plan
    • Think global – but act local
    • Local partnerships
    • Segmentation strategies
    • Market communication analysis
    • Communication objectives
    4-