michael j. best may 18, 2005. what is ‘top of mind’ awareness ‘top of mind’ awareness is...

32
Michael J. Best May 18, 2005 C e n t e r f o r A g r i b u s i n e s s a n d E c on o m i c D e v e l o p m e n t

Upload: darcy-fisher

Post on 25-Dec-2015

212 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Michael J. Best

May 18, 2005

Cente

r for

Ag

ribu

si

ness and Economic D

evelopment

Page 2: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

What is ‘Top of Mind’ Awareness

‘Top of Mind’ Awareness is owning the space that your product or service occupies between your potential customer’s ears. That way, when they’re ready to buy, they think of your product first.

Page 3: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Creating ‘Top of Mind’ Awareness

Today’s Consumers Have Changed• They’re skeptical• They’re cautious• They’re tired of selling and sales pressure• They’re busy• They’re confused

Page 4: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Maintaining ‘Top of Mind’ Awareness

Get in at the beginning of the consumer’s decision making process, when the consumer is gathering facts relating to her/his problem or need.

Stay There Keep in touch through the mail, phone, email. Identify your best prospects

Page 5: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Identifying Your Best Prospects

Your best prospects are always:• Your current best customers, and• Other people that look like them.

Page 6: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

‘Top of Mind’ Awareness (a Georgia Case)

Vidalia Onions Awareness - Recalled advertising for Vidalia Onions

Yes 13.5% No 81.2% Other 5.2%

Where Ad was seen TV Ad/Promotion 27.1% Newspaper Insert 26.4% In-Store Display 16.5% In-Store Feature Ad 4.3% Radio Ad 3.3% Other 13.5%

Page 7: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Favorite Sweet Onion

America’s favorite sweet onion Vidalia 63.1%

Walla Walla 6.3% Texas 1015 5.0% Maui 2.8% Other 4.5%

Resulted in new tag line emphasizing “America’s Favorite Sweet Onion.”

Page 8: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Top of Mind Perceptions

Perceptions of Vidalia Onions Sweet 30.0% Taste/flavor 17.5% Food Related 8.8% Onion Rings 7.5% Georgia 6.3% Onion Rings 3.8% Freshness 3.8% Mild 2.5% Other 20.0%

Page 9: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Keeping Your Product in the “Top of Mind’ of Your Customers Advertising – Delivers

information Promotion – Involves

generating consumer response Publicity – inexpensive or free

advertising

Page 10: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Advertising

Newspaper Radio Television Direct Mail Outdoor or Billboard Internet

Page 11: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

What Advertising Can Do

Remind customers and prospects about the benefits of your product or service

Establish and maintain your distinct identity Enhance your reputation Encourage existing customers to buy more of

what you sell Attract new customers Slowly build sales to boost your bottom line Promote your business to customers,

investors and others

Page 12: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

What Advertising Can’t Do

Create an instant customer base Cause an immediate sharp increase in sales Solve cash flow or profit problems Substitute for poor or indifferent customer

service Sell useless or unwanted products or services

Page 13: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Newspaper

Advantages Broad mkt coverage Immediate Short lead time Flexible ad size Visibility of product Color Use of coupons People believe what they

read!

Disadvantages Inconsistent reproduction One day life span Limited demographics “Lost in the Crowd” Lack of movement & sound

Page 14: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Radio

Advantages Demographic selection High frequency Immediate Sound reinforcement Quick flexibility

Disadvantages Restrictive message length Need for repetition Short recall factor Cluttered placement

Page 15: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Television

Advantages Use of sight, sound, motion, &

color Mass coverage Immediate Demographic selection

Disadvantages Short exposure Expensive production Expensive to air Cluttered placement Viewing time drops as income

increases

Video removed for presentation on the web.

Page 16: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Direct MailAdvantages

Demographic selection Unlimited message length Consistent reproduction Direct response by order or coupon

Page 17: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Direct Mail Expensive Difficult to obtain “pure” mailing lists Long lead time Negative reaction to junk mail

Disadvantages

Page 18: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Outdoor Advantages Reaches large audience Long-term exposure Color & graphics Forms include billboards,

posters, illuminated signs, moving vehicle signs, bench ads

Disadvantages Limited message length Expensive to produce & place Difficult to obtain the best

locations Legal restrictions for use

Page 19: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Examples of Advertising Costs and Exposure in Southeast Georgia

Media Company Cost Exposure

Radio WSKX-FM

Savannah

$14.00 30 Sec Spot; 6-10 am

676,481 persons

Newspaper Metropolitan Newspaper

$52.50 per sq. In. per week in Travel section

250,000 persons on Sunday

Television ABC Savannah $15 - $120 for a 15 Sec. Rotating spot

Dependant on Time- slot

Outdoor Lamar Bill board $500-7,500 per month

Dependent on location

Direct Mail Your business $1.68/Contact Limited to mailing list

Page 20: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

How “best” to reach consumers Newspaper Insert 30.5% In-Store Display 22.1% In-Store Promotion 15.8% TV ad/promotion 2.8% In-Store Feature AD 2.7% Radio Advertising 0.2% Other 19.4%

Reaching Consumers

Page 21: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Know Who Your Target Market Is

Where and when does my target market look for information?

What is the most effective means of reaching my target market?

i.e., television, radio, print material, etc.. What type of packaging are they expecting?

Page 22: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Promotion

Page 23: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Promotional Technique Effectiveness Ratings

Page 24: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Product Promotion -- Packaging

Have a beautiful product, including jar and label

Use expensive beautiful glass Go to trade shows to show product as well as

find out what the competition is doing Make your product presentation count-90%of

the purchases of niche products is based on product presentation.

Page 25: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Packaging

First Line of Promotion is Product Packaging and is your silent salesperson

Evaluate your target market and create a package that is consistent with their expectations- i,e. single jar or 3-pack,

Packaging should reflect a product’s desired personality (Tennessee Toe Jam)

Packaging Considerations (size, plastic glass, dressy)

Selling a 8 oz. Jar of Jelly for $6.95, it needs to be packaged accordingly

Page 26: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Packaging Examples

Page 27: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Hot Sauce Packaging Examples

$6.95 (5 oz)$6.29 (5 oz) $7.59 (4 oz)

Page 28: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Jams and Jelly Packaging Examples

                                           

$4.50 (16 oz) $5.25 (10 oz)

$5.00 (9.9 oz)

Page 29: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Signage Is Also Important

Information that should be included on your sign: Location Business hours Special Promotions Seasonal Products Other attractions

Sign should reflect the stands personality

Page 30: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Signage Examples

Page 31: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

Publicity

Newspaper or Magazine Articles News Reports

Page 32: Michael J. Best May 18, 2005. What is ‘Top of Mind’ Awareness ‘Top of Mind’ Awareness is owning the space that your product or service occupies between

“Adding Value to Georgia’s Agricultural Economy Through Research and Extension”

www.caed.uga.edu

College of Agricultural & Environmental Sciences

The University of Georgia

Cente

r for

Ag

ribu

si

ness and Economic D

evelopment