Marketing Communications - Objective Phrases of Rhino Shield Crash Guard

Marketing Communications - Objective Phrases of Rhino Shield Crash Guard Order Description Apply and discuss "Advertising plan components" - Quantitative benchmarks, Measurement methods, Criteria for success & Time frame to this business called "Rhino Shield Crash Guard" HK3052 Marketing Communications Holmes Institute, 2006 1 HK 3052 Marketing Communications Lecture 5: Advertising & Promotion Planning Holmes Institute, 2007 2 Advertising Plan in Context Ad Plan Specifies thinking and tasks needed to conceive and implement an effective advertising effort Marketing Plan Holmes Institute, 2007 3 Advertising Plan Components Introduction Situation Analysis Objectives Budgeting Strategy Execution Evaluation Holmes Institute, 2007 4 Advertising Plan Components Introduction •Executive summary •Overview Situation Analysis •Historical context •Industry analysis •Market analysis •Competitor Analysis HK3052 Marketing Communications Holmes Institute, 2006 2 Holmes Institute, 2007 5 Advertising Plan Components Objectives •Quantitative benchmarks •Measurement methods •Criteria for success •Time frame Holmes Institute, 2007 6 Sales vs. Communication Objectives Advertising = Sales? Advertising = Communication? Effective Communication = Sales? Focusing on communications objectives allows advertisers to consider a broad range of strategies. Building brand loyalty can take years. Holmes Institute, 2007 7 Workable Objectives • Establish a quantitative benchmark • Current market share • Awareness • Attitude • Specify success measurements and criteria • Specify a time frame • Direct response: short • Brand awareness: long Holmes Institute, 2007 8 Budgeting Methods •Percentage of sales •Share of market/voice •Response models •Objective and Task Advertising Plan Components HK3052 Marketing Communications Holmes Institute, 2006 3 Holmes Institute, 2007 9 Determine cost based on build-up analysis •Production costs •Ancillary costs •Other promotion •Reach •Frequency •Time frame •Media Compare costs against industry and corporate benchmarks Reconcile and modify budget Determine time Frame for payout Implementing Objective & Task Budgeting Holmes Institute, 2007 10 Strategy •Brand name recognition? •Repetition and frequency •Rhyming games •Trial Use Stimulation? •Introductory offers •Product guarantees •Brand Switching? •Value Propositions •Product comparisons Advertising Plan Components Holmes Institute, 2007 11 Advertising Plan Components Execution •Copy strategy •Media plan •Integrated brand promotion Evaluation •Criteria •Methods •Consequences Holmes Institute, 2007 12 Adv. Planning: Role of Advertising Agencies ? Advertiser brings to the table an assessment of the brand’s value, the external environment, and opportunities and threats. ? The advertising agency’s role is to the current marketing and market status of the brand into advertising objectives and strategies and ultimately into advertisements and IBP materials HK3052 Marketing Communications Holmes Institute, 2006 4 Holmes Institute, 2007 13 Cross-Cultural Audience Research ? Economic conditions (LDC, NIH, HIC) ? Demographic characteristics ? Values ? Custom and ritual ? Product use and preferences Holmes Institute, 2007 14 Executing Advertising Worldwide ? The Creative Challenge ? The Media Challenge ? The Regulatory Challenge Holmes Institute, 2007 15 Creative Challenge ? Written and spoken language ? Translation difficulties ? Culture-bound picturing ? Assumptions and inferences ? Identifying cross-cultural icons Holmes Institute, 2007 16 Media Challenges ? Availability and coverage ? Not all media are pervasive ? Some ads are not acceptable ? Local knowledge is important for print ? Costs and Pricing ? Rates must be negotiated ? Global coverage is expensive ? Bidding can escalate prices further HK3052 Marketing Communications Holmes Institute, 2006 5 Holmes Institute, 2007 17 Regulatory Challenges What are the . . . ? Products that can be advertised? ? Appeals that can be used? ? Times that products may be promoted? ?Rules regarding foreign language use? ?Restrictions on using national symbols? ? Taxes levied against advertising? Holmes Institute, 2007 18 Regulatory Challenges ? Can you use: ? Ads directed to children? ? Foreign languages in ads? ?National symbols in ads? ? Advertising may be taxed Holmes Institute, 2007 19 International Agency Options Global Agency ?Greater integration ? Economies of scale Local agency Highly localized Execution risks International affiliates Local market expertise Cultural adaptation Holmes Institute, 2007 20 Ad Campaigns: Global versus local Global Campaigns Message Market A Market B Market C Local Campaigns Message 1 Message 2 Message 3 HK3052 Marketing Communications Holmes Institute, 2006 6 Holmes Institute, 2007 21 Jack Daniel’s: global campaign? Holmes Institute, 2007 22 Trends Promoting Global Advertising ? Global communications ? The global teenager ? Universal demographics and lifestyle trends ? Americanization of consumption values

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