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Unit 2-Advertising and campaign planning
- 1. ADVERTISING AND CAMPAIGN PLANNING Prepared & presented by: Ms. Himani R.
- 2. Layout Marketing strategy & Situation analysis Advertising plan Advertising objectives DAGMAR approach Advertising strategy Advertising campaign-planning process 2Prepared by: Ms. Himani R.
- 3. Situational Analysis A situation analysis includes a thorough examination of internal and external factors affecting a business. Using market research a situational analysis will define potential customers, projected growth, competitors and a realistic assessment of a business. 5 Cs Analysis SWOT Analysis Porter’s Five Force Analysis PEST 3 Prepared by: Ms. Himani R.
- 4. Continued Internal Analysis: It is the understanding of strengths and weaknesses within an organization. It is seen in company culture and image, organizational structure, staff, operational efficiency and capacity, brand awareness, financial resources, etc. Strengths are positive attributes, which can be tangible or intangible, and are within the control of the organization. Weaknesses are factors that may hinder the achievement of the desired goal. Prepared by: Ms. Himani R. 4
- 5. Continued External Analysis: Opportunities and threats are measured as part of an external analysis. Like market trends, suppliers, partners, customers, competitors, new technology and economic environment. Opportunities present themselves as attractive factors that can propel or positively influence the organization in some way. Threats are external factors that could place the organization’s goal at risk. Prepared by: Ms. Himani R. 5
- 6. SWOT ANALYSIS Strength s Weaknes ses Opportu nities Threats Prepared by: Ms. Himani R. 6
- 7. Strengths & Weaknesses New, innovative product Quality processes and procedures Patents Strong brand names Good reputation among customers Cost advantages from proprietary know-how Prepared by: Ms. Himani R. 7 Lack of marketing expertise Undifferentiated products or services Poor quality goods or services Damaged reputation High cost structure Lack of access to key distribution channels
- 8. Opportunities & Threats A developing market Mergers, joint ventures New market segments New international markets Unfulfilled customer need Arrival of new technologies Loosening of regulations Prepared by: Ms. Himani R. 8 New competitors Price wars Competitor’s innovation Competitor’s superior access to distribution channels Shift in consumer preferences New regulations
- 9. 5 Cs Model Company Collaborat ors Customers Competito rs Climate (or context) Prepared by: Ms. Himani R. 9
- 10. Company Product line of the company Image in the market Technology and experience Culture Goals Prepared by: Ms. Himani R. 10
- 11. Collaborators Distributors Suppliers Alliances Prepared by: Ms. Himani R. 11
- 12. Customers Market size & growth Market segments Benefits that consumer is seeking, tangible and intangible. Motivation behind purchase; value drivers, benefits vs. costs Decision maker or decision-making unit Retail channel – where does the consumer actually purchase the product? Consumer information sources – where does the customer obtain information about the product? Buying process; e.g. impulse or careful comparison Frequency of purchase, seasonal factors Quality purchased at a time Trends - how consumer needs and preferences change over time Prepared by: Ms. Himani R. 12
- 13. Competitors Who are the existing and potential competitors? What strategic groups can be identified? What are their sales, share and profits? What are the growth trends? What are their strengths, weaknesses and strategies? Prepared by: Ms. Himani R. 13
- 14. Climate (or context) How attractive is the market or industry and its submarkets? What are the forces reducing profitability in the market, entry and exit barriers, growth projections, cost structures, and profitability prospects? What are the alternative distribution channels and their relative strengths? What industry trends are significant to strategy? What are the current and future key success factors? What environmental threats, opportunities, and trends exist? What are the major strategic uncertainties and information need areas? What scenarios can be conceived? Prepared by: Ms. Himani R. 14
- 15. Porter’s Five Force Model Prepared by: Ms. Himani R. 15
- 16. Continued Identifies and analyzes five competitive forces that shape every industry, and helps determine an industry's weaknesses and strengths. Porter identified five undeniable forces that play a part in shaping every market and industry in the world. The forces are frequently used to measure competition intensity, attractiveness and profitability of an industry or market. Prepared by: Ms. Himani R. 16
- 17. Continued Prepared by: Ms. Himani R. 17
- 18. Continued Prepared by: Ms. Himani R. 18
- 19. Continued Prepared by: Ms. Himani R. 19
- 20. Continued Prepared by: Ms. Himani R. 20
- 21. Continued Prepared by: Ms. Himani R. 21
- 22. Continued Prepared by: Ms. Himani R. 22
- 23. Continued Prepared by: Ms. Himani R. 23
- 24. PEST Analysis Prepared by: Ms. Himani R. 24
- 25. Prepared by: Ms. Himani R. 25
- 26. Advertising plan Ad plan focuses on communication goals. An advertising plan matches the right audience to the right message and presents it in the right medium. Components of ad plan: Targeting the audience: whom are you trying to reach Message strategy: what do you say to them Media strategy: when & where will you reach them Prepared by: Ms. Himani R. 26
- 27. Steps in developing ad plan Establishing ad budget Budgeting methods Research target audience Develop an ad plan Implement the plan Measure the result Direct measures of ad effectiveness Indirect measures of ad effectiveness Prepared by: Ms. Himani R. 27
- 28. Budgeting methods Percentage of sales method Unit of sales method Task and objective method The competitive parity method Brand history method All you can afford method The break even method Prepared by: Ms. Himani R. 28
- 29. Methods to measure the results Direct methods of measuring ad effectiveness Historical sales method Experimental control Indirect methods of measuring ad effectiveness Exposure to ads Attention/recall ads Brand awareness Comprehension Attitude change Action Prepared by: Ms. Himani R. 29
- 30. Advertising objectives Trial Continuity Brand switching Switchback Prepared by: Ms. Himani R. 30
- 31. DAGMAR Approach Prepared by: Ms. Himani R. 31
- 32. Prepared by: Ms. Himani R. 32
- 33. Advertising Strategy Steps to develop an advertising strategy Defining the product or service Understanding the target audience Market research Developing a marketing plan Deciding communication media Budget Marketing methods Modifying advertising strategy Prepared by: Ms. Himani R. 33
- 34. Advertising Campaign-Planning Process Advertising campaign: Determine specific goals to be achieved and decide the central theme and appeals to be stressed to influence buying motives. Determine the allocation of funds to advertising as one of the promotional tools. Select the appropriate media of advertising. Create suitable advertising message to reach target market in best possible manner. Evaluate the effectiveness of advertising plan or campaign. Prepared by: Ms. Himani R. 34
Editor's Notes
- Competition in the Industry The importance of this force is the number of competitors and their ability to threaten a company. The larger the number of competitors, along with the number of equivalent products and services they offer, dictates the power of a company. Suppliers and buyers seek out a company's competition if they are unable to receive a suitable deal. Potential of New Entrants Into an Industry A company's power is also affected by the force of new entrants into its market. The less money and time it costs for a competitor to enter a company's market and be an effective competitor, the more a company's position may be significantly weakened. Power of Suppliers This force addresses how easily suppliers can drive up the price of goods and services. It is affected by the number of suppliers of key aspects of a good or service, how unique these aspects are and how much it would cost a company to switch from one supplier to another. The fewer number of suppliers, and the more a company depends upon a supplier, the more power a supplier holds. Power of Customers This specifically deals with the ability customers have to drive prices down. It is affected by how many buyers, or customers, a company has, how significant each customer is and how much it would cost a customer to switch from one company to another. The smaller and more powerful a client base, the more power it holds. Threat of Substitutes Competitor substitutions that can be used in place of a company's products or services pose a threat. For example, if customers rely on a company to provide a tool or service that can be substituted with another tool or service or by performing the task manually, and this substitution is fairly easy and of low cost, a company's power can be weakened.