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Strategic Planning

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... concern for objectives, strategies, and tactics as business and marketing plans ... all the advertising or marketing communication activities. Campaign plan ... – PowerPoint PPT presentation

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Title: Strategic Planning


1
Strategic Planning
  • Part 2 Planning and Strategy
  • Chapter 7

2
Chapter Outline
  1. Chapter Key Points
  2. Strategic Planning
  3. Basic Strategic Planning Decisions
  4. Account Planning What Is It?
  5. Planning for IMC

3
Key Points
  • Differentiate between objectives, strategies, and
    tactics in strategic planning
  • Identify the six basic decisions in an
    advertising plan
  • Explain how account planning works
  • Outline the key features in an IMC plan

4
Strategic Planning
  • The process of determining objectives, deciding
    on strategies, and implementing the tactics
  • Objectives
  • What you want to accomplish
  • Strategies
  • How to accomplish the objectives
  • Tactics
  • Make the plan come to life

5
A Three-Tiered Process
  1. The business plan
  2. The marketing plan
  3. The advertising or IMC plan
  • May cover a specific division of the company or a
    strategic business unit with a common set of
    problems

6
A Three-Tiered Process
  1. The business plan
  2. The marketing plan
  3. The advertising or IMC plan
  • Parallels the business strategic plan and
    contains many of the same components

7
A Three-Tiered Process
  1. The business plan
  2. The marketing plan
  3. The advertising or IMC plan
  • Operates with the same concern for objectives,
    strategies, and tactics as business and marketing
    plans

8
Basic Strategic Planning Decisions
  • Annual advertising or IMC plan
  • Outlines all the advertising or marketing
    communication activities
  • Campaign plan
  • More tightly focused on solving a particular
    marketing communication problem
  • Typical Plan Outline
  • Situation analysis
  • Key strategic decisions
  • Media strategy
  • Message strategy
  • Other tools
  • Evaluation of effectiveness

9
Basic Strategic Planning Decisions
  • Situation analysis
  • Researching and reviewing the current state of
    the business that is relevant to the brand and
    gathering all relevant information
  • After the research is compiled, analysis begins
  • SWOT analysis
  • Strengths
  • Weaknesses
  • Opportunities
  • Threats
  • Key problems and opportunities

10
Basic Strategic Planning Decisions
  • Objectives and strategies
  • Planners develop specific objectives to be
    accomplished during a specific time period
  • The main categories of effects can be used to
    identify the most common advertising and IMC
    strategies
  • It is important for advertisers to know what to
    expect from a campaign or an ad
  • Measurable objectives
  • Specific effect that can be measured
  • A time frame
  • A baseline
  • The goal
  • Percentage change

11
Basic Strategic Planning Decisions
  • Segmenting and targeting
  • Market segment a group of consumers having
    similar characteristics
  • The segments the planner selects becomes the
    target audience
  • Getting deeper insight into consumers is the
    responsibility of the account planning function

12
Basic Strategic Planning Decisions
  • Positioning Strategy
  • Determining what place a product should occupy in
    a given market
  • To establish a location in the consumers mind
    based on what the product offers and how that
    compares with the competition
  • Product features
  • Feature analysis
  • Competitive advantage
  • Importance/performance
  • Differentiation
  • Branding
  • Locating the brand position
  • Perceptual mapping

13
Basic Strategic Planning Decisions
  • Budgeting
  • Determines how many targets and multiple campaign
    plans a company or brand can support and the
    length of time the campaign can run
  • Historical method
  • Objective-task method
  • Percentage-of-sales method
  • Competitive budgets
  • All you can afford

14
Account Planning What is It?
  • Account planning
  • The research-and-analysis process used to gain
    knowledge and understanding of the consumer
  • Account Planning Elements
  • Consumer insight
  • Message strategy
  • Media strategy

15
Account Planning What is It?
  • Account planner
  • A person in an agency who uses account planning
    to research a brand and its customer
    relationships in order to devise advertising
    message strategies that are effective in
    addressing consumer needs and wants
  • Account Planner Tasks
  • Understand brand
  • Understand audience relationship
  • Articulate strategies
  • Prepare creative briefs
  • Evaluate effectiveness

16
Account Planning What is It?
  • The Research Foundation
  • Consumer Insight
  • The Communication Brief
  • Used in three phases of the advertising planning
    process
  • Strategy generation
  • Creative development
  • Campaign evaluation

17
Account Planning What is It?
  • The Research Foundation
  • Consumer Insight
  • The Communication Brief
  • Intersects with the interests of the customer and
    the brand features
  • Insight mining
  • Realistic response objective?
  • Causes of nonresponse?
  • Barriers to desired response?
  • Motivation to respond?
  • Role of each element in the communication mix

18
Account Planning What is It?
  • The Research Foundation
  • Consumer Insight
  • The Communication Brief
  • Explains the consumer insight and summarizes the
    basic strategy decisions
  • Six major parts
  • Marketing objective
  • Product
  • Target audience
  • The promise and support
  • Brand personality
  • Strategy statement

19
Planning for IMC
  • Follows same basic outline as an ad plan
  • Objective is to make the most effective use of
    all marketing communication functions
  • Effective plans lead to profitable long-term
    brand relationships
  • Differences in IMC strategic decisions
  • Stakeholders
  • Contact points
  • IMC objectives
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