Huntington Bank Case Study

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Huntington Bank Case Study

  1. 1.  Page 1 “Your New Piggy Bank” Campaign By: Meredith Horrigan, Samantha Manzuk, and Jaclyn Parker COM 360, Section 1 Fall ‘11 Professor Yung-I Liu
  2. 2.  Page 2 Table of Contents Executive Summary……………………………………………………………………………….3 Company Analysis…………………………………………………………………………………3 Competitive Analysis…………………………………………………………………………….4 Consumer Analysis………………………………………………………………………………..5 Goals and Objectives…………………………………………………………………………….6 Strategies andTactics…………………………………………………………………………….6 MediaStrategies Budget Evaluation References Appendix
  3. 3.  Page 3 Executive Summary The followingbrief will introduce toyouthe servicesof HuntingtonBank;itwill provideyouwith a companyhistoryand companyanalysis,discussingHuntingtonBank’sservicesandbrand.Thiswill lead intoa competitive analysis of otherbanksandtheirservicesandbrand,comparedtoHuntingtonBank’s. Followingthese twoanalyseswillbe acustomeranalysis,containingourtargetaudience andthe target audience profile. Once thisresearchandinsighthasbeenestablished,the brief willproceedinto the goalsand objectivesthatwe hope toaccomplishwithourfinancial programandadvertisingcampaign. Followingthe goalsandobjectivesportionwill be the strategiesandtacticswe will use toimplementthe advertisingcampaign.Thesetacticswill leadusintothe mediastrategiesandbudgetthatwill support our campaign.Finallywe will discusshow toevaluateourcampaign,andthe campaign’seffectiveness. Our campaignwill focusonHuntingtonBankas a helpinghand,anextendedmemberof the family, there duringtimesof change.We will specificallybe focusingonthe needof aidduringthe college years;a need bythe parentsandthe students,withthe creationandimplementationof acollege studentbankingservice. Company Analysis Company History The HuntingtonNational Bankisa subsidiary of HuntingtonBancsharesIncorporated,whichis one of the 40 largestmultibankholdingcompaniesinthe UnitedStates.The HuntingtonNational Bankis a regional bank,withheadquartersinColumbus,Ohio,thatprovidesfinancialbankingservicesinthe Statesof Ohio,WestVirginia,Pennsylvania,Kentucky,Indiana,andMichigan. Huntingtonprovides personal bankingthroughtheir600 local branches,1,300 ATMs and online andmobile banking. They provide financialservicestoindividualsandfamilies,small businesses,nonprofitorganizations,and otherspecialtyservices.Huntingtonhasalsoestablisheditself asamemberof the community.In2009, alone,The HuntingtonNational Bankinvested$100 millioninto revitalizingneighborhoodswithintheir regions,gave more than$700 millioninloanstosmall businesses,andemployeesdedicatedmore than 13,000 hoursof volunteertime tononprofitorganizationsintheircommunities. S.W.O.T. Analysis The S.W.O.T.analysisdescribesthe strengths,weaknesses,opportunities,andthreatsof a particularcompany.The S.W.O.T.analysisforThe HuntingtonNational Bankisasfollows: Strengths The HuntingtonNational Bankoperatesinthe MidwestUnitedStates,specificallyinthe statesof Ohio, Pennsylvania,Indiana,MichiganKentucky,andWestVirginia.Since Huntingtonissogeographically specific,itisable tofocuson the needsandconcernsof itscustomersat a grass-rootslevel.Huntington isalso deeplyinvolved inthe community,withthe investmentof millionsof dollarsandthousandsof
  4. 4.  Page 4 hoursof volunteeringintothe communitiesinwhichitislocated.ThisgivesHuntingtonapositive brand position,inthe eyesof the consumers,tobuildoff of. A thirdstrengthof HuntingtonBankisthat it providesavarietyof financial productsandservices,aswell asloans. Weaknesses AlthoughHuntingtonBankpridesitselfonbeingamemberof the communityitisin,it doesnottarget newconsumers,ratheritfocuseson the consumersitalreadyhas.Anotherweaknessof Huntington Bank isthat, althoughtheyoffera varietyof typesof loans,and financial servicesandproducts,they have not tappedintothe marketof young,college age students,openingcheckingandsavingsaccounts for the firsttime,whichislimitingtheirconsumerbase. Opportunities The weakness statedabove,however,may leadtoan opportunityforThe Huntington National Bank. Since mostbanks,includingHuntington,donothave anyspecificfinancialprogramsandservicesthat target the young,college age,fisttime bankermarket,Huntingtonhastoopportunitytobe the first bankto tap thismarket. Threats However,threatsare alsoposedtoThe HuntingtonNational Bank’sholdinthe bankingmarket.Other regional banks,suchasKeyBank and PNCBank are in constantcompetitionwithHuntingtonBankfor the largestmarketshare and consumerbase.PNCBankposes the biggestthreattoHuntingtonBank, especiallyincombatingHuntingtonBank’sopportunitiesstatedabove.PNCBankissucha threat because theyhave resourcessuchasthe virtual wallet,andonline checkbookmanagementavailable to all of theircustomers.These servicesare sucha threatbecause similarservicesare necessarytotapinto the newmarketof young,college age,firsttime bankers,andPNCBankhasalreadyestablishedand begunto perfectthese services. Brand Analysis Referencingtwopartsof The HuntingtonNational Bank’smissionstatement,itstatesthat HuntingtonBankwill winwiththeircustomersbycreatinga superiorexperience intheircustomers’ local markets,as well aswinwiththeircommunitiesbycontinuingtheirhistoryof local involvement, philanthropy,andleadershipwheretheyliveandwork.Throughtheirmissionstatement,financial support,andlocal communityinvolvement,consumershave come tosee The HuntingtonNational Bank as a memberof the communityandof the family.Huntingtonhas gainedandestablished brandequity on this“communitymember”image. Competitive Analysis As we statedinthe threatsportionof the S.W.O.T.analysis,PNCBankisHuntington’sbiggest threat.Huntington’snewfinancial programmustgoabove andbeyondthatof PNCBank’s services; specificallytheirvirtual wallet,andonline checkbookbalancing. AlthoughPNCBankisHuntington’s
  5. 5.  Page 5 biggestcompetitor,becauseof itsrecognizable services,all bankslocatedandoperatinginthe areas that Huntingtonislocatedandoperatingare alsomajorcompetitors.Likewise,even small,local, communitybanksinHuntington’sareas are a source of competition,becauseof HuntingtonBank’s brand positioningasthatof a concerned,committedmemberof the local community. Theselocally ownedbankswill have alongstandingtraditionwithfamiliesinthose communities,whichisalsothe goal of The HuntingtonNational Bankbranches.Since thisprogramandcampaignare soinvolved,and part of an untappedmarket,HuntingtonBankwillbe targetingbrandswitchers,whichmeansthat oppositionandnewservicesbycustomers’previousbanksare tobe expected.However,because of the detailednature of the servicestobe provided,Huntingtonwillhave the advantage of havingthe program solidifiedandfunctionalbeforeanyotherbanks. Consumer Analysis The HuntingtonNational Bankcurrentlymaintainsaconsumerbase of avarietyof general bankers,ranginginagesfrom18 yearsoldto retirementage. Huntingtonalsofocusesonthe needsof differenttypesof consumers,withproductsandserviceswithinthe automobileindustry,nonprofit organizations,small businessandmore. However, there are noproductsor servicesthatdeal withfirst time bankers whoare in college andlearningtomanage money ontheirown.Thisisour target audience.Tobreakitdownevenfurther,we will be targetingmalesandfemales,livinginand/or attendingcollegeinthe same geographicregionthatThe HuntingtonNational Bankislocated,aged17- 25 yearsof age,and enrolledincollege. The membersof thisaudience are avidsocial mediausers,and crave independence fromtheirparents. Thereisaslightmajorityof femalesinthisaudience,since more femalesare attendingcollege;more thanbefore,andnow more thanmales. We are also targetingthe parentsof these youngadults. Theyare brand switchers,cravingease of mindabout theirchild’s financial future.We willfurtherbreakdownthe studentaudienceintothe Upperclassmenandthe College Student. Target Market Segments Upperclassmen The Upperclassmenisa highschool student,abouttograduate highschool andattendcollege, and have heldsome type of part-time job.Thiswillbe the firsttime theyare awayfromhome,butthey are slowlygainingindependence fromtheirparents,theirparentsare still makingorhelpingthemmake financial decisions. College Students The female collegestudentisstudious,family-oriented,responsible,andhasa planfor the future. She will enjoythe studentloans,virtualwallet,mobileapp,advisor,andthe abilitytobuild creditsafely.
  6. 6.  Page 6 The male college studentseeshimselfasinvincible.He cravesindependence fromhisparents. He isstubborn,butwill seekhelponhisown,andhe ismore concernedwiththe shortterm.He will receive the mostoutof the advisor,overdraftprotection,the mobile app,andthe virtual wallet. Parents Thisis mostlikelytheirfirstchildgoingoff tocollege.Theywantbetterfortheirchildrenand have made all of the financial decisionsfortheirchildsofar. Theyare heavyresearchers,lookingforthe bestdeal andthe lowestrate.Theyare tryingto lettheirchildestablishindependence andtheymay alsobe payingsome,if notall of theirchild’swaythroughschool.Theywill be mostinterestedinthe loansand interestrates,aswell asthe advisor. Goals and Objectives The goal of thiscampaignis to notonly to designandimplementaprogramthat educates, protects,andprovidesforcollege students,buttoencourage brandswitcherswithourmediacampaign “your newpiggybank”.Intermsof the financial programourgoal isto provide collegestudentswhoare firsttime bankersthe chance to buildcreditandplanfortheirfuture inan educational andlenient environment.We wanttooffermore opportunitiestoattendcollege throughourloansystem, the chance to buildcreditwithourtieredlimitprogram, aswell aslow interestrates andoverdraft protection.We alsowantto provide studentswiththe independencetheycrave,while providing parentswitha reliable resource inordertoteach theirchildrentomanage theirmoney.The goal of the mediacampaignisto standout due to its simplicityandemotional appeals,buttoalsoinspire brand switcherstoresearchandexperiencethe programthatThe HuntingtonNational Bankhastooffer. Strategies and Tactics Our firststrategyisthe designof the “new piggybank” program.It isa three stage program, designedtoguide firsttime,college bankersthroughmoneymanagementandsmartspending techniques.The programwill consistof HuntingtonclassicssuchasAsteriskFree Checking,24-Hour Grace Period,andno charge for usinganother bank’sATM.However,thisprogramwill be muchmore involved,andmuchmore tailoredtowardsafirsttime banker.Inorderto encourage educationfortheir community’sresidents,the programisonlyavailable tocollege students;proof of enrollmentmustbe providedinordertosignup for the program.The programconsistsof three stages,eachone decreasing inrequiredassistance. Stage One The firststage consistsof all of the facetsof thisnew program.First,the studentisassignedanadvisor, much like theywouldfindinschool inordertotrack theiracademicprogress.Thisadvisorwillbe available throughanIMsystemonthe HuntingtonBankmobile app.The advisorisavailable forany bankingquestions,aswell asofferingsuggestionsforthe bestcourse of action,financially,the student
  7. 7.  Page 7 shouldtake.Studentloanscan be acquiredwithinthisprogram, witha4% interestrate.Studentsmay alsobegintoestablishcreditwithourlowesttiercreditcard.Thiscard will be equippedwiththe lowest limitpossible,aswell asalowinterestrate.Inthisstage studentswill notbe penalizedforusinganother bank’sATMon campus,and the mobile appwitha virtual checkbookwillbe available. Stage Two In thisstage the studentbeginstogainfreedomwithinthe program.Atthisstage the advisoris optional,butstill availableviathe mobile app.Studentloansare still available,andatthe 4% interest rate.The secondcreditcard tierisavailable inthisstage.Thismeansthatthe studentnow hasa higher limit,butwiththe same lowinterestrate.Thisisalsothe introductionof the pointssystem.When studentsmake purchaseswiththeircreditcardtheywill receive pointsthatcanbe redeemedfor textbooksandotherschool supplies.Studentsare still notpenalizedforusingotherbank’sATMsand the mobile appisstill accessible. Stage Three Thisis the final stage of the program, andoffersthe mostfreedom.Studentsnolongerhave an advisorat thisstage.Thisis alsothe introductionof the thirdtierof creditcards. Studentsmaynow determine theirownlimitwithahigherinterestrate thanbefore.Loansare available inthe thirdstage as well asthe mobile appandthe use of otherbank’sATMs. In thisstage the pointsystemalsoturns intoa cash back system;insteadof redeemingpointsonschool supplies,the bankercannow receive cash back on purchases. Marketing CommunicationStrategy The HuntingtonNational Bankwill introduce andpromote the “new piggybank”program throughthe use of bulletinboardadsnearmajorcollege campusesinthe MidwestUnitedStates,adsin newspapersandmagazines,aswellasradioand TV commercialsanda few internetads.Huntingtonwill alsopromote thisprogramat vendortablesduringcollege fairs. Creative Strategy Our mediacampaign will incorporatethe currentHuntingtonsloganof “Welcome.”intothe “newpiggybank”studentprogram.The tagline forthe campaignwill be “Welcome toyournew piggy bank”.The tagline ismeanttoincurnostalgicthoughtsas well asprovoke thoughtsof the future,sothat Huntingtonwill be withyoufromnowon.The campaignwill alsofeature Huntington’snew signature greenpiggybank.
  8. 8.  Page 8 Creative Objectives Withour piggybank campaign,we aspire toidentifywiththe students’desiretobecome independentmembersof the community,aswell aswiththe parents’desire toprovideforandguide theirchildren. We aimtoappeal to the emotional aspectof leavingforcollege orhavingachildleave for college andbe off on theirown.Also,since Huntingtonhasareputationasa memberof the community, or eventhe family,we willincorporate,inthe emotional appeal,asense of nostalgiaandcomfort. Creative Elements Billboard Print Ads Radio/TV Commercials  The commercials will be the same scriptforboththe radioand the TV commercials.Theywillbe ina FilmNoirstyle of dialogue andinthe TV commercial appearance aswell.Thiswill capture consumers’attentionvisuallyand/oraudiblydue toitsdifference fromthe mediasurrounding it.  The commercial will mostoftenfeature amale voice,consistentwithfilmnoir,butmayalsobe adaptedwitha female voice andexperience.  The commercial will consistof backgroundmusic,aswell as,inthe case of TV,blackand white images.  The script will deal withthe needtosolve acase,consistingof collegeproblems,tobe relatable by students.  The commercial will use humortofurtherstandout,in orderto be in the consumer’smind.Each ad will urge potential consumerstoact, insteadof justkeepHuntingtonintheirtopchoices. InternetAds
  9. 9.  Page 9 Commercial Script [Dark,filmnoirmusicplaying] Male Announcer: I wasworkingona new case:The UnpaidTuition The tuitionwashigh,butthe cash inmy pocketwaslow Questionspoureddownlike the rain:How wasI goingto pay forschool?What was I goingto eat? Andthenshe walkedin…toldme to investmypiggybankintoHuntington Bank Toldme about AsteriskFree Checking,24-hourgrace periods,andthe freedom to use any bank’sATMs [Change tone of voice to sarcastic child] Andthenshe startedlecturingme abouthow it’ll helpme be more responsible,andhowIcan get cash backon my everydaypurchases,andtocome home everyweekend…. I hate it whenmomsare right It’sa good thingI’ve gotan app that I can use to talkto a Huntingtonadvisor whoworksspecificallyforcollege students [FilmNoirvoicingagain] The UnpaidTuition:Case Closed [Musicstops] OtherAnnouncer: HuntingtonBank. Welcome,toyournew piggybank.
  10. 10.  Page 10 Media Strategy In orderto reach our targetaudience,we wanttoexhaustasmanymediaavenuesaspossibleto guarantee thateach segmentof ourtarget audience isexposedtothe message.Thiswill require the placementof adsinmagazinesandnewspapers,radioandtelevisioncommercials,afew internetads, tablesat college careerfairs,andfinallybillboardsnearmajorcollege campusesinthe statesthat HuntingtonBankresidesin. MediaObjectives As statedearlier,ourobjective forourmediacampaignisthe reachour target audience of Upperclassmen,CollegeStudents,andParents.Ourgoal isto encourage brandswitching,aswell as promote the individualityfactorof thisfinancial program.Also,althoughparentsare amemberof our target audience,ourobjective istogetstudentstobeginthinkingabouttheirfuture andwanttochoose Huntingtonastheirbankbecause of thisprogram. We want to encourage the studentstopursue this decision themselves.Likewise,althoughwe wanttobreakgroundon thisnew financial market,we are aware that many timesthe parentsare the onesmakingthe financial decisions.Therefore,we wantto promote the ideathatHuntingtonisthere to help,the waya parentwould,andthatparentswho want theirchildtosucceedshouldenroll themintoanaccountat HuntingtonBank. MediaTactics Our printads will be placedinthe followingmediums:  SeventeenMagazine  CosmopolitanMagazine  Local newspapers(i.e.The PlainDealer)  BetterHomesand GardensMagazine The radio commercialswillaironstationssimilartothe Clevelandareastations:  96.5 KissFM  104.1 Q104  92.3 The Fan  102.1 WDOK  95.5 The Fish  106.5 The Lake The internetadswill appearonsitessuchas:  Facebook  Online NewsSites
  11. 11.  Page 11  College Sites The TV commercialswill aironshowssuchas:  How I Met Your Mother  Desperate Housewives  NewsChannels  PrettyLittle Liars  The Lying Game The billboardadswill appearnearmajorcollege campusessuchas:  The OhioState University  The Universityof Michigan  PennsylvaniaState University  Purdue  WestVirginiaUniversity  Universityof Kentucky MediaCalendar Our entire campaignwill be onapulsingstrategy.We will have advertisementsperiodicallyall year,but increase intype andfrequencyduringpeaktimes,specificallythe monthsforApril to September.The increasewilloccurduringthese monthsbecause itiswhenhighschool seniorsare graduatingandbeginningtothinkaboutstartingcollege.Likewise,itoccursinthe firsttwo monthsof school and therefore targetscurrentstudentswhoare beginningtothinkaboutthe financial aspectof the nextsemester,term,oryear.Billboardswill be boughtonamonthlybasisduringcollegevisit months,sothat potential consumersmaysee themonthe wayto a visitat a majorcollege. These visits, althoughavailable all yearround,are usuallydonebetweenthe monthsof OctoberandFebruary, dependingonwhatyearof school the highschool studentisin.However,the billboardsare the only advertisementthatisanexceptiontothe peaktime frame of April toSeptember. Budget The followingtable showsabreakdownof the type of budgetneededtoimplementthiscampaign.The total cost endsup equaling$2,495,537 in one year.However,thatisalsofor a campaignthat needs awarenessontopof general advertising,sothe effortismuchgreater.Also,the informationbeloware approximations,andmayvaryespeciallyinthe instance of the magazines. The amountsonthe pie chart are dollaramounts.
  12. 12.  Page 12 Evaluation In orderto evaluate the campaign,we mustfirstlaunchit.Since HuntingtonBankwill be the firstbank to have a programsuch as thisit will be easytomeasure the effectivenessof the message simplybyseeinghowmanycustomerscome forthe piggybankprogram.Once the programis inaction, we can thenagain lookat the needsof advertisements,andhow oftentheyneedtobe producedand shown.One importantthingtonot isthat not onlydoesthe campaignneedasolidmessage,butthe program needstobe implementedwiththe leastamountof glitchespossible.Finally,we needtokeep openlinesof communicationwithourcustomersinordertobetterthe program and the campaign,and create what theywant. Billboards,527,785 Magazines/ Newspapers, 2,344 Radio,4,200 TV, 1,961,208
  13. 13.  Page 13 References Crupi,Anthony."Average Costof aPrime-TimeTelevisionSpotNow $110,000 | Adweek."Adweek – Breaking Newsin Advertising,Media and Technology.Web.08 Dec.2011. <http://www.adweek.com/news/television/their-prime-broadcast-spot-costs-soar-132805> "HuntingtonBancsharesInc. -- CompanyHistory." Find Funding with Banks,Investors,and OtherFunding Sources| FundingUniverse.Web.08 Dec.2011. <http://www.fundinguniverse.com/company- histories/Huntington-Bancshares-Inc-Company-History.html>. "Magazine AdvertisingRates." SheltiePacesetterHomePage.Web.08 Dec. 2011. <http://www.sheltie.com/magrates.htm>. "MibosoRadioAdvertisingRates." Miboso Radio.Web.08Dec. 2011. <http://www.mibosoradio.com/radio_advertisers.htm>. RetrievedDecember8,2011, Website: https://www.huntington.com/us/HNB3110.htm RetrievedDecember8,2011, Website: https://www.huntington.com/us/mission_values.htm
  14. 14.  Page 14 Appendix The followingisthe PowerPointpresentationinoutlineformat:  Your NewPiggyBank  MeredithHorrigan,SamanthaManzuk  Background Information  The HuntingtonNational Bank  Subsidiaryof HuntingtonBancsharesInc.  One of 40 largestmultibankholdingcompaniesinU.S.  ProvidesbankingservicesinOhio,Pennsylvania,WestVirginia,Indiana,MichiganandKentucky  Invested$100 milliontorevitalize neighborhoodsitwaslocatedin,$700 millioninloanstosmall businesses,and13,000 volunteerhoursbyemployeesin2009.  SWOT Analysis  Strengths:Small geographical markettofocuson,Positive brandimage  Weaknesses:Doesnottargetnew consumers,have nottappedthe studentbankermarket  Opportunities:Mostbankshave noprograms to young,college students,sotheycanbe the first  Threats:Otherregional banks(Key,PNC),PNCsease of bankingtocompete with  Brand Position  MissionStatement:  Wincustomersby creatinga superiorexperience intheirlocal markets  Wincommunitiesbycontinuingtheirhistoryof local involvement,philanthropy,and leadershipwhere theylive andwork  Consumerssee Huntingtonasamemberof the community  Positive BrandEquity  Competitors  In competitionwithbanksinsame geographicregion
  15. 15.  Page 15  Evenlocal bankspose a threat due to theirtiestothe community  PNCis the strongestcompetitor  Online ease of banking,virtualwallet,onlinecheckbookbalancing  The Consumer  Huntingtonhasa large target audience,consistingof all personsof age tohave a checking account.  Alreadyhave tailoredprogramssuchassmall businessesandautomobiles  NewMarket:Males andFemales,ages17-25 years old,college students  Key ConsumerInsights  These consumersare avidsocial mediausers  Crave independence fromtheirparents  Slightmajorityof females,due tothe increase of femalesattendingcollege  Firsttime usersand/orbrand switchers  Target Market Segments  The Upperclassman  Highschool student  Graduating  Planningtoattendcollege  Has heldsome type of part-time job  Firsttime awayfrom home  Want independencefromparents  Parentsstill makingfinancial decisionsforthem  Target Market Segments  College Student  Female Student:
  16. 16.  Page 16  Studious  Family-oriented  Responsible  Planningforthe future  Will use:virtual wallet,mobile app,loans,advisor,safe credit  Target Market Segments  College Student:  Male Student  Seeshimselfasinvincible  Cravesindependence  Stubborn  Seek helponhisown  Short-terminmind  Will Use:Overdraftprotection,mobile app,virtual wallet,loans  The Other Consumer  Parentsof studentsgoingtocollege  KeyConsumerInsights:  May be firstchildgoingoff tocollege  Brand switchers  Cravingease of mindabouttheirchild’sfinancial future  Target Market Segment  Parent  Want betterforchild  Have made all or mostof the financial decisionssofar  Heavyresearchers
  17. 17.  Page 17  Lookingforthe bestdeal,lowestrate  Tryingto letchildestablishindependence  May be payingfor/helpingoutwithcollege  Will like:advisor,loans,low interestrates  Objectives  Objective:  Designandimplementastudentfinancial program  Provide firsttime bankerswithasafe chance tobuildcreditandlearnmoney managementskills  Offermore opportunitiesthroughloans  Give studentsindependence,giveparentspeace of mind  Encourage brand switchingwiththe mediacampaign  Standout withmediacampaign  Encourage researchof program  Campaign Concept  Three Stage Program  Increase infreedom ineachstage  College StudentsOnly  Must showproof of enrollmentinacollege oruniversity  Campaign Concept– Stage One  LowestCreditCardLimit  Low interestrates  Overdraftprotection  StudentLoans  4% interest
  18. 18.  Page 18  Advisor  Campaign Concept– Stage Two  Available throughIMonthe mobile app  Use and banks’ATMs  Mobile Appw/virtual wallet  Highercreditcard limit  Low interestrates  Overdraftprotection  Points – redeemedforschool supplies,textbooks,etc.  StudentLoans  Advisor  Nowoptional  Use otherbanks’ATMs  Mobile appw/ virtual wallet  Campaign Concept– Stage Three  Highestcreditcard limit  Higherinterestrates,thoughstill low  Overdraftprotection  Points – nowwitha cash back system  StudentLoans  Use otherbanks’ATMs  Mobile appw/ virtual wallet  Strategies  MarketingCommunicationStrategy  Introduce the campaignthroughthe followingmediums
  19. 19.  Page 19  Billboards  Magazine Ads  NewspaperAds  InternetAds  Radio/TV Commercials  Strategies  Creative Strategy  Incorporate current“Welcome”slogan  Tagline:Welcome toyournew piggybank  Incursnostalgiafor“old piggybank”  Provoke thoughtsforthe future  Feature newsignature greenpiggybank  Tactics  Creative Objective:  Identifywithstudents’desire tobecome independent  Identifywithparents’desiretoprovide forandguide theirchildren  Emotional appeals:  Leavingforcollege,achildleavinghome forthe firsttime  Huntingtonasa memberof the community  Creative Elements -AD  Creative Elements- AD  Creative Elements - Commercial  Single announcer  FilmNoirstyle  Excerptfromscript:
  20. 20.  Page 20  Andthenshe walkedin…toldme toinvestmypiggybankinHuntingtonBank  Andthenshe startedlecturingme abouthow it’ll helpme be more responsible,and howI can getcash back on everydaypurchases,andhow Ishouldcome home every weekend…  I hate it whenmomsare right.  MediaStrategy  As manymediumsthatwill reachourtargetaudience aspossible  Billboards  Radio/TV  Magazines  Newspapers  Internet  MediaStrategy  MediaObjectives  Introduce the program,increase brand awareness  Encourage brand switching  Reach targetaudience  Promote positive brandequitytothe consumer  MediaTactics- Magazines and Newspapers  Placedinthe followingtypesof magazinesornewspapers:  Seventeen  Cosmopolitan  The PlainDealer  BetterHomes and Gardens  MediaTactics - Radio  Airon stationssuchas:
  21. 21.  Page 21  96.5 KissFM – student  104.1 Q104 – student  95.5 The Fish – parent  92.3 The Fan – parent(male)  102.1 WDOK – parent  106.5 The Lake - parent  MediaTactics – Internet  Social Media:  Facebook  Online newssites  College sites  MediaTactics - Television  Showssuchas:  How I Met Your Mother  Desperate Housewives  NewsChannels  PrettyLittle Liars  The Lying Game  MediaTactics - Billboards  Nearmajor collegessuchas:  The OhioState University  Universityof Kentucky  PennsylvaniaState University  Purdue  WestVirginiaUniversity
  22. 22.  Page 22  Universityof Michigan  MediaCalendar  Pulsing  IncreasedfrequencybetweenApril andSeptember  Most people are thinkingof returningtoschool/startingschool  Exception:billboards  October– February  Heavycollege visittime  Budget  Requiredforaproduct introductionand yearlongcampaign  Total = $2,495,537  Evaluation  Since itwill be a productlaunch,easyto determine effectivenessbyamountof people signing up specificallyforstudentprogram  Assessthe needsof advertisementonce awarenessisestablished  Keepconstant,opencommunicationwithcustomersforfeedback

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