Transcript MRk317Chap2
Chapter 2 Strategic Planning Principles 1 Review from Chapter 1 What is IMC? Name 2 types of advertising – give examples Give 3 examples of Direct Response – What is the difference between advertising and direct response? What is fueling the growth in interactive communications? Explain and give an example What’s the difference between push and pull sales promotions? Give examples of each What are the four trends driving IMC? What is the Hierarchy of Needs? How do we use it? Give examples What is the difference between the “real self” and the “ideal self”? Give an example of an ad that targets one’s “ideal” self. Describe how perception affects advertising and promotion 2 Integrated Planning Integrated planning involves linking plans from various management levels of an organization together. Corporate Planning By Senior Executives Marketing Planning By Brand Managers and Marketing Managers IMC Planning By Communications Specialists 3 Strategic Planning Strategic planning includes three common variables. Objectives Statements about what is to be accomplished. Strategies Statements outlining how objectives will be achieved. Execution Action-oriented details. 4 West Jet 5 Influences on Strategic Plans External Influences • Economy • Competition • Social / Demographic • Technology • Laws / Regulations Corporate Plan Marketing Plan IMC Plan 6 Plans are Linked Together Plans from above provide guidance for IMC plans. Corporate Plan Marketing Plan Strategic orientation Strategic and tactical orientation IMC Plan 7 Corporate Plans A corporate plan is long-term and broad in scope. It includes an organization’s: • Mission Statement • Corporate Objectives • Corporate Strategies 8 Mission Statement “A statement of an organization’s purpose that reflects the operating philosophy and the direction the company will take.” 9 Coke’s Mission Statement To refresh the world … in body, mind and spirit To inspire moments of optimism … through our brands and our actions To create value and make a difference … everywhere that we engage 10 Corporate Objectives Objectives are quantitative in nature, growth oriented, and measurable. • Sales • Profit • Return on Investment • Social Responsibility 11 Corporate Strategies Strategic Direction Some Alternatives • Penetration • New Product Development • Acquisition • Strategic Alliance $ for Marketing and Other Operations 12 Marketing Planning Marketing planning involves four essential steps: 1. Analyzing market opportunities 2. Developing marketing strategies 3. Planning and implementing programs 4. Measuring and evaluating programs 13 Marketing Planning & Control Marketing Plan Implementation Modify Strategies Evaluation & Control Corrective Action Revise Objectives 14 Marketing Plan Background and SWOT Evaluation & Control Marketing Plan • Positioning Strategy • Target Market Profile • Marketing Objectives • Marketing Strategy • Marketing Execution 15 Budget Determination Several methods are available for determining a budget: • % of Sales • Fixed Sum / Unit •Industry Average • Task (Objective) 16 Marketing Communications Planning 1. External agents are often responsible for preparing plans. 2. The contribution of each communications component must be determined. Some provide short-term benefit and some provide long-term benefit. 3. The components must be integrated to present a unified message to the target. 17 Marketing Communications Objectives Marketing communications must satisfy a diverse list of objectives, hence the need for integration of various components. • Build / Sustain Awareness • Develop Image • Alter Perceptions • Differentiate Products 18 19 20 Marketing Communications Objectives • Attract New Targets • Encourage Greater Use • Offer Incentives • Create Goodwill • Create Leads • Motivate Distributors 21 Marketing Communications Strategies • Advertising • Direct Response • Online Interactive • Sales Promotion • Personal Selling • Public Relations • Event Marketing Depending on the objectives to be achieved, competitive activity, and budget, the best combination of marketing communications components are recommended. Each situation is unique. 22