adv 435 ch 4 opportunities

Appraising Opportunities

and

Setting Objectives

Chapter 4

Appraising Opportunities

and

Setting Objectives

Information flow is

CONTINUOUS,

So decisions are subject to

CHANGE,

Pending new information

Appraising Opportunities

and

Setting Objectives

From Analysis, three

conclusions need to be

drawn:

•Brand Value

•Problems

•Opportunities

Appraising Opportunities

and

Setting Objectives

These will provide

Directionfor Campaign

Appraising Opportunities

and

Setting ObjectivesFlow of Campaign Process

•Situation Analysis

•Determine Equity

•Identify Problems

•Uncover Opportunities

•Define Target Market

•Develop Strategy

•Execute Tactics

Appraising Opportunities

Situation Analysis leads to

Determining Brand Equity

- Connecting

Tangible Product or

Intangible Service to:

- Thoughts

- Feelings

- Images

Appraising Opportunities

Result of Connection is….

Creative Tone

Appraising Opportunities

Test via:

Attitudes and

Attributes

Research

Appraising Opportunities

Brand Equity

Why strive to increase?

Appraising Opportunities

INCREASINGBrand Equity

• Reduces reliance on

competitive pricing to

build sales.

• Impacts media strategy

by allowing for more

selective targeting.

Appraising Opportunities

Brand Equity

Expectations of National Brands

• Quality

• Innovative

• Can Create Generics &

Private Label brands

Defining Problems

&Identifying Opportunities

Problem = Any BARRIER to

achieving an OBJECTIVE.

Could be:

- Past (Denny’s)

- Present (BP)

- Future (Facebook?)

Defining Problems

&Identifying Opportunities

Problem: Impact is usually on:

- Sales

- Market Share

Defining Problems

&Identifying Opportunities

Problem: Of the 4 P’s……

Promotion is the easiest to get

wrong!!!!!!

&Identifying Opportunities

Why?

• Can’t change Product, Place or

Price as easily

• Is Target correct?

• Is Message correct? Tone?

• Is Medium correct? One? More?

• Is Awareness High Enough?

• Are we breaking through

clutter?

Identifying Opportunities

Opportunity = Any situation or

circumstance with a potential

advantage:

• Assuming company CAN and WILL

Turning Problems into

Opportunities

Heinz Ketchup:

Problem: Pours too slowly

Opportunity: “Anticipation”

Timex Watches:

Problem: Cheap Image

Opportunity: “Takes a lickin’ &

keeps on tickin’

Turning Problems into

Opportunities

Smuckers:

Problem: Funny Name

Opportunity: “With a name like

Smuckers, it HAS to be good!”

Miller Lite:

Problem: Not Macho Image

Opportunity: “Everything you

always wanted in a beer…& less!

Turning Problems into

Opportunities

Aflac:

Problem: Name and product

Opportunity: Duck/Quack for

name; Clever ads for product

TD Bank:

Problem: ID conversion from

Commerce Bank

Opportunity: Regis & Kelly

Turning Problems into

Opportunities

Name some others:

Brand

Problem

Opportunity

Turning Problems into

Opportunities

Problem areas:External

•Geography

•Political

•Cultural

Turning Problems into

Opportunities

Problem areas:Internal

•Staff/Talent

•Financial

•Production

•Concept

•Engineering

Turning Problems into

Opportunities

Problem areas:Internal

•Marketing

•Broad vs. Myopic

•Needs of Company vs.

Wants of Customer

•Transactions vs.

Relationships

Turning Problems into

Opportunities

Opportunities:

Focus on Increasing Sales

Turning Problems into

Opportunities

• Retain Existing Customers

• Get Customers to use More

• Find New Uses

• Find New Users

• Competition

• New Domestic targets

• International

Turning Problems into

Opportunities

• Product or Brand Advantages

• New & Improved to offset disadv.

• Service

• Technology

• Pricing

• Distribution

• Promotion – New Media

Turning Problems into

Opportunities

Types of TARGET MARKET• Undifferentiated: Mass Market

• Differentiated: Segmented

•Primary

• Secondary

• Tertiary

• Demographics, Lifestyle

• Psychographics, Usage

Turning Problems into

Opportunities

Types of TARGET MARKET• Concentrated = Niche Markets

•Microbrews

•Premium Coffees/Teas

•Rolex, Tiffany, Rolls Royce

•Ethnic Restaurants

Setting Objectives

Objective = Desired Result

Setting Objectives

Statement of Objective(s)(What do you expect to accomplish)

• Quantify Results

• Establish Time Frame

• Be Specific

• Be Realistic

Marketing vs. Advertising

Objectives

Share of Market vs.

Share of Voice

Sales vs. Awareness

(except direct response)

Marketing vs. Advertising

Objectives

Action Words:

• Establish

• Maintain

• Increase

• Reinforce

• Change

• Intensify

Advertising Communication

Tasks

Effect following stages enroute to

purchase decision:

•Unawareness to awareness

•Comprehension/Knowledge

•Image/Liking or disliking

•Attitude/Preference/Conviction

•Action/Purchase

Advertising Communication

Tasks

Weigh:

•Liking Commercials vs. Product

•Brand Image vs. Product Qualities or

Attributes

Linking Objectives

• Start with Corporate

• Drill down to:

•Marketing

•Advertising

•Creative

•Media

•Sales promotion

•PR

Soundness of Objectives

• Can Plan accomplish this?

• Is Objective linked?

• Is it strategy, tactic or merely

hope?

• Specific? Cost Effective?

• Realistic? Attainable?

• Too Complex? Too simple?

• Measureable?