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Promotions Opportunity
Analysis
Chapter 4
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Chapter Objectives1. What activities are involved in
completing a promotions opportunity analysis?
2. How should a company’s marketing team evaluate the relationship between a company’s promotional efforts and those of the competition?
3. What are the characteristics of the major consumer market segments?
4. How can a company identify and reach key business-to-business market segments?
5. How can IMC programs and promotions be expanded to the international level?
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PetsMart
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Pets are now part of the family.Pets are now part of the family.
• Attitudes have changed.Attitudes have changed.• New animal care New animal care products.products.• New animal care New animal care services.services.• Prices are secondary.Prices are secondary.
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Chapter Overview
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Promotions opportunity analysis process
Promotional efforts Consumer market segments B-to-B segmentation programs
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Promotions Opportunity Analysis
• Conduct communication market analysis
• Establish objectives• Create a budget• Prepare a promotional strategy• Match tactics with the strategy
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Communication Market AnalysisStep One
• Competitors• Opportunities• Target markets• Customers• Product positioning
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CompetitorsSources of information
• Secondary data• Other people• Primary research
• Major competitors• Communication
strategies of major competitors
Identify
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Opportunities• Ignored customers.• Saturated markets.• Benefits not articulated
clearly.• Marketing approach.• Brand positioning.
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Target Markets• Benefits sought.• Methods of reaching markets.• Appeals to each market.• Needs not being met.• Demographic and
psychographic profile of each market.
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CustomersThree Types
• Current company customers• Customers of competitors• Potential customers who
have not purchased product.
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Product Positioning
• Perception In mind of consumers Relative to competition
• Created by factors such as Product quality Prices Distribution Image Marketing communications
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Positioning Strategies
• Attributes• Competitors• Use or application• Price/Quality• Product user• Product class• Cultural symbol
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Establish Communication ObjectivesStep 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.
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Factors Impacting Relationship Between Promotions and Sales
• Goal of promotion• Threshold effects• Carryover effects• Wear out effects• Decay effects• Random events
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Create Communications Budget
Step Three• Percentage of sales• Meet-the-competition• What we can afford• Objective and task• Payout planning• Quantitative models
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Marketing Budgets
• Advertising – 41.1%
• Consumer promotions – 27.9%
• Trade promotions – 27.5%
• Other – 3.3%
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Create Communications StrategiesStep Four
• Broad, long-term guidelines.• Link to opportunities and threats.• Fit with overall company
message, image, and themes.
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Match Tactics with StrategiesStep Five
• Tactics support strategies• Examples of tactics
Specific advertisements Personal selling enticements Sales promotions Trade promotions Price of products Package design and labeling
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Market Segmentation
• Group with distinct characteristics.
• Differs from other segments and population.
• Consumer segments• Business segments
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Consumer Segments
• Demographics• Psychographics• Generations• Geographic• Geodemographics• Benefit• Usage
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Geodemographic Segmentation
• Combines Demographic census data Geographic information Psychographic
information• PRIZM
62 market segments
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• NAICS/SIC code• Size of business• Geographic
location• Product usage• Customer value
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B-to-B Segmentation
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GIMC
• Borderless marketing plan• Think global – but act local• Local partnerships• Segmentation strategies• Market communication
analysis• Communication objectives
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