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MARKETING BYOBJECTIVESExploiting marketing excellence and efficiencyRichard Kohn BDNIEurope@gmail.com
Introduction   What will we cover today?     Objectives,  strategies and tactics     Marketing objectives, why bother? ...
Objectives, Strategies & Tactics          Term                 Metaphor                       DefinitionObjective        D...
The Brand Building Blueprint                      Individual Brand Positioning                 The way we want customers t...
Marketing Objectives   The growth drivers of the brand   Are about motivating consumer behavior   The overarching behav...
Case: Dove Brand Strategy House                                                               To make women feel more beau...
The Key Marketing ObjectivesNon-buyers of category     Buyers of categoryGrowing Category           Frequency             ...
Defining Barriers & Growth DecisionsNon-buyers of category     Buyers of categoryGrowing Category           Frequency     ...
MO#1: Grow Category/New Users
MO#2: Frequency/Use Occasions
MO#2: Frequency/Use Occasions
MO#3: Conversion/Switching
MO#3: Frequency/SOR
MO#4: Loyalty
Good Marketing Objectives   SMART     Specific     Measurable     Actionable     Relevant     Timebound   Verticall...
Marketing Objectives – Practical Tips   A good marketing objective reads something like    this:      Get [xx%] of [the t...
What to use, and when…   Marketing objectives MUST address a commercial    objective – this drives the MO, but…     CO:G...
Case Study: MasterCard ‘priceless’   Target Market     Demo/psycho/attitude     Adult 18+ credit card holders – especial...
Case Study: MasterCard ‘priceless’   Inferred brand marketing objective       Increase the frequency of MarsterCard use o...
Case Study: Execution
Case Study: Execution
Richard Kohn & BDNInternational   Richard Kohn:     The MArchitect, key note speaker, marketing resultant     20 years ...
Contact   Richard Kohn     Email: richardkohn@gmail.com     Blog: The Marchitect     Tel: +31624487867   BDNI contact...
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Marketing By Objectives

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A presentation that I gave on defining and refining marketing objectives

Marketing By Objectives

  1. 1. MARKETING BYOBJECTIVESExploiting marketing excellence and efficiencyRichard Kohn BDNIEurope@gmail.com
  2. 2. Introduction What will we cover today?  Objectives, strategies and tactics  Marketing objectives, why bother?  Strategic planning and marketing objectives  What are marketing objectives?  Identifying a good marketing objective  Prioritizing/choosing your marketing objective  Case study: MasterCard ‘priceless’ Q&A
  3. 3. Objectives, Strategies & Tactics Term Metaphor DefinitionObjective Destination • Goals you need to achieve: – Specific – Measurable – Achievable – Relevant – TimeboundStrategies Road • How you will go about achieving your goals – Role – PositioningTactics Vehicle • Specific marketing mix elements and initiatives you will employ to achieve the strategy: – TVC – Outdoor/trade activities – Sampling
  4. 4. The Brand Building Blueprint Individual Brand Positioning The way we want customers to perceive, think, and feel about our brand relative to competition. Business Objectives --Volume -- Profit -- Share Marketing Objectives -- Penetration -- Loyalty -- Conversion -- Share of Requirements -- Frequency Messaging Promo Merchandising Medical Con Obj/Strat Obj/Strat Obj/Strat Obj/Strat Tactics - Ideas that Implement The Positioning (and achieve Objectives!)
  5. 5. Marketing Objectives The growth drivers of the brand Are about motivating consumer behavior The overarching behavior that is needs to be achieved in order to realize the business objectives (which will be contained in the budget, forecast or plan) such as  Sales  Market share  Profits Identify what the marketing plan needs to do to achieve business objectives
  6. 6. Case: Dove Brand Strategy House To make women feel more beautiful every day by challenging today’s stereotypical view of beauty Become market leader of all segments within the market “women’s essential beauty products”. Achieve a market share position from 35% to 45% within 3 years in all the segments. Get 25% of current Dove & combined Increase frequency amongst Increase loyalty Increase awareness users to switch 35% of their beauty Conditioner users from 1.3 amongst current users amongst 20-30 yrs to care regime to Dove by 2013 times a week to 3.9 times a by 10% by 2014 40% by 2013 week by 2013on Dove providing morenatural beauty care andstands for ―real beauty‖ in blind product test onNew campaign focusing Product optimalisation: Reach 50% preference real beauty lies within via campaign on how Development of Dove young adult skin care buying Dove products program focusing on development to meet consumption on the the 3.9 times a week Educate consumers and buy of hair care beauty strength and promotion on cross Consumer loyalty development for often hair needs specifically young products once a Consumer price adults and their New campaign conditioning weaknesses Packaging focusing on lies within Packaging month go Measu Measure Measure Measure Measure Measure Measure Measure Measure re
  7. 7. The Key Marketing ObjectivesNon-buyers of category Buyers of categoryGrowing Category Frequency Conversion Loyalty Increase usageWin new buyers for the Reduce parallel usage frequency or occasions Increase penetration ofcategory or re-attract by increasing loyalty of among own brand brand among categoryformer users to the current buyers of the buyers or increase buyers/switchingcategory brand purchase size ExampleGrow by winning people Grow by increasing Grow by winning people Grow by increasingthat do not yet use the usage frequency of that currently use other brand loyalty of currentproducts in the category current users of the companies’ products but users of your company’s category not your company’s products Brand A Brand A Brand B - Example - - Example - - Example - - Example -
  8. 8. Defining Barriers & Growth DecisionsNon-buyers of category Buyers of categoryGrowing Category Frequency Conversion Loyalty Increase usageWin new buyers for the Reduce parallel usage frequency or occasions Increase penetration ofcategory or re-attract by increasing loyalty of among own brand brand among categoryformer users of the current buyers of the buyers or increase buyers/switchingcategory brand purchase size Barrier against buying Barrier against usingBarrier against category Barrier against brand category more often brand exclusivelyNeed to explain why the Need to explain why the Need to explain why the Need to explain why thecategory should be category should be brand should be bought brand should be boughtbought bought more often at all exclusively
  9. 9. MO#1: Grow Category/New Users
  10. 10. MO#2: Frequency/Use Occasions
  11. 11. MO#2: Frequency/Use Occasions
  12. 12. MO#3: Conversion/Switching
  13. 13. MO#3: Frequency/SOR
  14. 14. MO#4: Loyalty
  15. 15. Good Marketing Objectives SMART  Specific  Measurable  Actionable  Relevant  Timebound Vertically linked  Upwards to the Business Objectives  Achieving the change in behavior specified in the Marketing Objective will lead to achievement of the Business Objectives  Downwards to the Marketing sub-objectives/strategies  Strategies will deliver the means to change that behavior
  16. 16. Marketing Objectives – Practical Tips A good marketing objective reads something like this: Get [xx%] of [the target market segment] to [purchase for the first time/switch/ increase their weight of purchase /buy more frequently] xx brand or product/line extension within the [period of time]
  17. 17. What to use, and when… Marketing objectives MUST address a commercial objective – this drives the MO, but…  CO:Grow = Increase sales  MO: Requires decisions/judgment  Most attractive source of new volume (new users, use occasions, SOR, switching, loyalty)  Market situation – is the product penetrated or market saturated?  Clarity over the end behavior sought
  18. 18. Case Study: MasterCard ‘priceless’ Target Market  Demo/psycho/attitude Adult 18+ credit card holders – especially those carrying multiple cards in their wallets, including MasterCard – but who are really ―credit card pragmatists‖ in that they don’t see a particular brand of card as a badge of their worth or social status.  Usage/behavior They typically use cash for most of their ―everyday necessity‖ purchases and/or another brand of card (such as VISA) for their bigger ones (or when they are low on cash); also typically use another card to access cash from ATM’s.  Needs They really only need one card they can always depend on for all kinds of purchases (and have no interest in/don’t need a card that is supposed to stroke their egos, set their status, etc.).
  19. 19. Case Study: MasterCard ‘priceless’ Inferred brand marketing objective Increase the frequency of MarsterCard use occasions by [xx%] among current MasterCard card holders – especially for ‘every day necessity’ purchases – by switching them from using cash or another branded card within [xx months]  Actually this covers two behaviors that are sought:  More frequent use of the card instead of another  More purchases with the card over all (share of requirements) Is it SMART? Specific—Existing MC card holders users Measurable— xx% of current MC users Achievable—Based upon past campaign successes Relevant—SOR increase and frequency leads to volume goals Time-bound—within [xx] months of campaign
  20. 20. Case Study: Execution
  21. 21. Case Study: Execution
  22. 22. Richard Kohn & BDNInternational Richard Kohn:  The MArchitect, key note speaker, marketing resultant  20 years + in global leadership roles across multiple categories and industries  ‘Designing & building beautiful, leading brands’ Brand Development Network International  Leading global marketing training & consulting practice  Specialist in tailored ‘Live Action Learning’ programs  The Leading Brands’ secret weapon
  23. 23. Contact Richard Kohn  Email: richardkohn@gmail.com  Blog: The Marchitect  Tel: +31624487867 BDNI contact details  BDNIEurope@gmail.com  Web: BDN International

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