What is marketing?

·        Consumer understanding

·        Meeting consumer needs

·        Delivering genuine benefits

·        Delivering a financial return

·        A strategic discipline

Not marketing?

·        Advertising

·        Selling

·        Common sense

·        Manipulating consumer

·        Making posters and running contests

·        News releases

·        Market intelligence

·        Consumer intelligence

·        Price, product, distribution

·        Marketing communication

·        Brand development

·        Market positioning

·        Analyze and understand the business to ID opportunities for growth

·        Build market share profitably

·        Establish brand position

·        Understand target audience

·        Develop and implement marketing and brand building programs

·        Engage other departments and external agencies to be part of team

·        Work w/ team to implement programs, manage the critical path, evaluate plans, and adjust as required

·        Evaluate marketing programs to determine ROI and key learning

·        Manage budget

·        Be a champion for the brand

·        Select appropriate communication vehicles

·        Work w/ sales to determine price and distribution strategies

·        Work w/ R&D to determine product strategy and innovate

What is Marketing Communication?

·        Communication designed to influence opinion, choice, attitudes, and ultimately behaviour (eg. Purchase decisions)

·        Any and every point of communication to the consumer

·        Advertising, sales promotion, PR, direct marketing, personal selling, point of purchase, merchandising, digital marketing, packaging, sponsorship marketing, buzz marketing, social networking, licensing, customer service, internal marketing, web sites, internet marketing

·        Gossip, media investigation, gov investigation, consumer group investigations, chat groups, blogs, online guerrilla sites 

·        facilities, service, distribution, product design, product/service performance, price

·        40-50% of comm is planned

·        moved from advertising to other communication (PR, promotion, sponsorship, social media, etc)

·        easy to manage 1 or 2 activities, harder to manage and be consistent with more and w/ consumer who is technologically empowered

·        good customer service = 5 ppl, poor=13 ppl

·        leadership involves managing 3 aspects (planned, unplanned, unconsidered)

·        importance of employee engagement, distribution outlet/information/engagement

·        all mar-comm activities designed to fit together:

·        consistent msgs, across all target, maximize impact, best use of resources

·        the group of consumers towards which and overall marketing plan is directed

·        who are you trying to reach?

·        What do you know about them?

·        What is in their head/heart?

·        What do the want and need? How can you meet them?

·        tool for understanding target audience, paints a pic of a real person

·        think of them like your neighbour, friend or colleague

·        how would you describe them as a person? Consider interests, work, family, values

Introduction

Growth

Maturity

Decline

·        Build distribution and awareness

·        More competitors, established

·        Persuade to choose yours over others

·        Lots of competitors

·        Pricing goes down

·        Must be sharp why you’re picking me

·        Enhance offers

·        may just stop producing or milk it before leaves the marketplace

·        not all products have to get to this stage - don’t let products decline, reach maturity and invest and then recycle about how product is enhanced (Apple)

·        similar to pipeline, makes possible the flow of goods and services from producer to consumer

·        how you get your product to consumer

·        set up market, e-commerce site, producer 

Stages of buying decision

·        problem recognitionàinformation searchàevaluation of alternativesàpurchase decisionàpost-purchase behaviour

Consumer Insight

·        can never know too much about customer

·        get to know them like a BFF, better than they know themselves

·        foundation of successful business and brand:

·        repeat purchase

·        willing to pay a premium

·        word of mouth promotion

·        essential ingredient: rich and insightful understanding of needs, wants, values, self-concept

·        explore and listen

·        existing customers: why do they have such a strong attachment to brand?

·        Non-customers: why don’t they have attachment? What alternates do they use?

·        Research

·        Look at what is publically available

·        Understand your brand – talk to your most loyal customers

·        Informal Monthly panels or online panels

·        Talk to co-workers

·        Monthly customer insight discussions

·        Reward observations and suggestions

·        Observe customers using your product/service

·        Journal keeping

Product, Price, Promotion, Place

·        The process and activities people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services as so as to satisfy their needs and desires

·        Why do we buy and use certain products or services?

·        Marketing mix

·        Socio-cultural

·        Situational 

·        Psychological 

·        The process by which and individual receives, attends to, interprets and stores info to create a meaningful picture of the world

·        Needs

·        Beliefs and values

·        Experiences

·        Mood

·        Context that you see/hear stimulus or msg

·        Characteristic of msg itself

·        Sponsorships or endorsements

·        Brand equities

·        Reputation

·        Purchase decision

·        Response to marketing communication

·        A judgement consumers make about the lvl of pleasure from consuming a product or service

·        Are their needs/standards/expectations met?

·        Scores:

·        Would you recommend?

·        Cognitive dissonance: psychological tension or post purchase stress

- Positioning statements

- Situational analysis

- Market Intelligence

- Competitor Insight

- Market Insight

- Consumer trends

- The F-Factor

- Objectives and strategies

- Key plan and tactics

·        “What consumers want from your product”

·        what is the job the customer has hired the product to do?

·        Clear articulation of your point of difference relative to competition

·        The place your product or service occupies in consumer’s minds

·        One sentence

·        Looks at your product or service from the consumer’s point of view

·        Includes the target audience

·        If you can’t describe your point of difference in one sentence, got work to do

·        Understand current business

·        ID gaps

·        What are your conclusions and the indicated actions from the conclusions?

·        2 key questions:

·        why are we getting this result?

·        What does this mean for the business?

·        Market share, sales volume, sales revenue, margin

·        What do you know about your competitors, market, and potential customers?

·        Scanning the environment to build and refine your marketing plan

·        Answers:

·        What problem are you trying to solve?

·        What opportunity can you leverage?

·        What consumer needs can you need?

·        Current/future alternatives for your product/service (competitors)

·        Direct: alternate products or services that satisfies the customer’s needs. Coke vs pepsi

·        Indirect: substitute product or service that offers the same benefit. Coke vs water

·        Collect marketing materials for your competitors

·        Review their annual reports

·        Search news media

·        Mystery shop – keep journal

·        External influences:

·        Economic

·        Demographic

·        Social

·        Technology

·        Laws and regulations

·        “You sell” message that you are an inherent VIP

·        no one can tell you what to think or do, you’re the best, entitled to best.

·        Unique and original, every choice should be a reflection of yourself

·        Friends, fans, followers

·        Discover, rated, feedback, together, me

·        Customer loyalty and satisfaction; willingness to accept premium pricing

·        Repurchase

·        Word of mouth recommendations

·        Employee engagement

·        What people believe about your product or service

·        NOT visual identity (logo, selling line, colour typeface)

·        Commitment to the brand – resources and investment

·        Protection of your brand ie trademarks

·        Clarity – clearly articulate positioning

·        Responsiveness – adapt to change

·        Authenticity – stay true to core values

·        Relevance – to your customer

·        Presence – both having a presence and receiving positive comments in traditional and new media

·        Understanding – customers understand the brand’s attributes

·        Consistency

·        Differentiation 

·        Living, breathing the brand, extending its message and value

·        Company should have clearly articulated brand

·        Employees understand the brand

·        Employees are satisfied with the brand

·        Employees are loyal to the brand

·        Employees are engaged with the brand – they are advocates

·        Best practices:

·        Starts at the top

·        Communication

·        Empowerment

·        Brand champions

·        Tell your stories

·        Recruitment, performance expectations, measurement, and rewards all in sync

·        No 2 products/service are the same

·        Emotional connection btw customer and product/service 

·        A set of beliefs, attitudes and associations connected with a brand’s name in consumers’ minds

·        How the consumer currently sees the brand

·        And they can be positive or negative 

- Difference

- Relevance

- Esteem

- Familiarity

·        Do you have competitive adv?

·        How differentiated/unique are you?

·        Relevance

·        Is the brand for me/meet my needs?

·        How do you make me feel?

·        How aware/familiar are you with the brand?

·        Aggregate prospective buyers into groups that have:

·        Common needs

·        Will respond similarly to marketing action

·        The groups of prospective buyers are market segments

·        market segment believes there is a competitive advantage to the product or serve

·        Summarized in your positioning statement

·        Geographic

·        Demographic

·        Socioeconomic

·        Psychographic

·        Behaviour

·        Size of segment

·        Expected growth of segment

·        Cost of reaching the segment

·        Ability to differentiate

awarenessàcomprehensionàconvictionàaction 

·        Communicate a message

·        Influence opinion, choice, attitude, and behaviour

·        Increase sales

·        Increase awareness

·        Increase trial

·        Build brand equity

·        Strengthen emotional associations w/ brand

·        Gain retailer support

Informative Thinker (The Thinker)

·        High Involvement, Thinking

·        Car, house, furnishings, new products

·        Model: learn-feel-do

·        Media: long copy format (reflective vehicles)

·        Creative: specific information (demonstration)

·        High Involvement, Feeling

·        Has emotional component

·        Jewelry, cosmetics, fashion goods

·        Model: feel-learn-do

·        Media: large space (image specials)

·        Creative: executional 

Habit Formation (The Doer)

·        Low Involvement, Thinking

·        Routine behaviours

·        Food, household items

·        Model: Do-learn-feel

·        Media: small space ads

·        Creative: reminder

·        Traditional or digital advertising

·        Communication that is developed to influence a consumer or shopper or buyer or voter

·        Marketing communication

·        Outline for creative strategy and direction

·        Framework for creative team

·        Your expectations for the final creative

·        A contract between you and the agency 

·        Background: 

·        Brand Statement, Competitive Context, Project Objectives

·        Creative Objectives   

·        Target Audience

·        Consumer Insight

·        Benefit  

·        Support or “reason why” consumers should believe your promise

·        Brand Character or Personality

·        Net Takeaway or Desired Consumer Response

·        Other Considerations:

–        Budget

–        Timeline

–        Mandatory executional elements 

–        Media considerations

–        Compliance considerations 

·        Are approved by the person  who ultimately approves the ads

·        Use clear, simple language

·        Describe target audience as an individual, or uses personas

·        Make tough choices

·        Strive for distinctiveness

·        Keep mandatory inclusions short and specific

·        Are flexible – to enable a wide variety of creative options

·        Inspire the creative team 

·        Relationship builds trust, which leads to great work which builds relationships

·        Treat the creative team as partners

·        Be fair

·        Be committed

·        Communicate clearly and honestly

·        Be decisive

·        Be receptive 

·        Communicate clearly and honestly

·        Be receptive

·        Treat clients as partners

·        Be fair

·        Be committed

advertising

direct marketing

internet marketing

sales promotion

public relations

personal selling

Identifying a need

information search

perception

alternative evaluation

attitudes

purchase decision