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107 Cards in this Set
- Front
- Back
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situation analysis
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company
consumer product competition market other considerations (legal, etc) |
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product analysis
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Focuses on the abstract and concrete qualities of the company’s product
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consumer analysis
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Information that helps us gain a grasp on the (current/potential) consumer
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company analysis
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what the company is concerned with and what it represents
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Public goods
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ex: Crocs, IPODs, Jewelry, Cell phones
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private goods
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Computer accessories, personal grooming products
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competitive analysis
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Considers all options consumers might think about in their purchasing decision
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direct competitors
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pepsi, mountain dew
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indirect competitors
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coke ex: water, tea
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market analysis
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Helps planners identify which geographic areas are key
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Brand development index (BDI)
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% of brands total sales in US x 100 / % of total US population
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Category development index (CDI)
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% of category's total sales in US x 100 / % of total US population
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primary sources
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can be qualitative, quantitative, or focus groups
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quantitative sources
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primary
-experiments and surveys |
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qualitative sources
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primary
One on one interviews -Consumers -Employees -Competitors |
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secondary sources
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databases
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focus groups
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primary source
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SWOT
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It is the organization of the information obtained in the situation analysis.
Company's: Strengths and weaknesses The environment’s: Opportunities and threats |
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purpose of SWOT
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To define the main issues that must be addressed in the strategic plan
-Clarifies opportunities -Identifies problems |
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a good SWOT:
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-Has a focus: Maybe more than one analysis
-Searches extensively for competitors -Does not forget other areas of the company -Thinks as the consumer (internal/external) Separates clearly internal from external sources |
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strength and weakness
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Internal factors reflect situation-based considerations within a company’s control
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opportunities and threats
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External factors reflect situation-based considerations beyond a company’s control
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Criteria for alternatives
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-Collectively exhaustive
-Independent of one another -Mutually exclusive -Relevant to the situation |
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main elements of case solving
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ID:
-problem -situation -alternatives -best alternative |
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case solving process
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-State Problem/Decision
-Situation analysis -Identify Alternatives -Establish Criteria -monetary vs. non-monetary -Evaluate/Analyze -Decision & Recommendations |
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what does advertising do?
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-creates knowledge about product
-changes attitudes -foster relationship with a brand and a consumer.. leads to sales and brand equity |
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advertising strategy is..
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a general plan designed to give campaign a competitive edge
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marketing objectives
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in terms of expectations for a product performance
-To generate sales -To increase margins -To build volume |
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Communication objectives
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in terms of expectations for communication’s influence on consumer attitudes and behavior
-To persuade -To inform -To remind |
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a communication objective is about:
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-Awareness: Brand, top-of-mind, attributes
-Comprehension or understanding -Believability -Trust -Attitude -Image |
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how does mkting evaluate things?
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final outcomes in concrete terms
ex: -Distribution -Sales and/or profit -Shelf facings |
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how does communication evaluate things?
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final outcomes are intangible
ex: -Attitude change -Evoked set -Positive consumer perceptions Ex: To establish top-of-mind awareness in 70% of the target market by the end of November |
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types of IMC objectives
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-communication effects
-behavioral effects -sales-driven objectives -Media objectives -Production objectives -Finance objectives -Creative objectives |
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communication objectives
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This objective is set in terms of “soft measures” such as awareness, knowledge, preference
Ex: To establish top-of-mind awareness in 70% of the target market by the end of November. |
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behavioral objectives
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This type of objective uses consumer’s actions as a measure of advertising effects
Ex: To persuade 70% of the target market to try the product by the end of November. |
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sales-driven objectives
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This type of objectives sets IMC goals in terms of sales
Ex: To achieve a 65% repurchase rate among the target market by the end of the introductory year. |
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objectives should be:
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-output oriented
Focused on what the company/brand expects to accomplish in the long term. -Measurable Objectives should be quantifiable in order to provide some means for evaluating if the intended effects of IMC were achieved -Time bounded objectives should reflect an expectation that specific results will be achieved by specific dates -Realistic Objectives should be attainable (not impossible or too easy) and cost effective. -One purpose Each objective should be worded so that only one result is associated with each statement |
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ABCD Method for Writing
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A: Audience
current users previous users category non-users brand non users B: behavior get current users to continue to use the brand get current users of the brand to use more C: condition fine new uses for the product D: degree |
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persuasion
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The formation or change of attitudes or beliefs
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attitudes
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Relatively global and enduring evaluation of an object, issue, person or action
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attitudes can be based on:
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Experience, exposure, beliefs, etc.
-Cognitions -Affect |
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why attitudes important?
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They affect our:
Thoughts - cognition Feelings - affective Behaviors - connative |
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characteristics of attitudes
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Favorability
Accessibility - how easily a 'tude can be remembered Confidence - how strongly we hold onto a 'tude Persistence - how long it lasts Resistance - ability to be changed |
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beliefs
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Knowledge, accurate or not, of an object, issue, person or action.
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beliefs can be created/influenced by:
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Inference: A process of -“filling in” missing information/conclusion making
Attribution: An inference of the reason for a person’s behavior Heuristics: Simple inferences (rules of thumb) ex: If it’s a well-known brand it must be good |
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in order to be persuaded you need:
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Motivation
Ability Opportunity |
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motivation
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inner state of arousal directed to achieve a goal
affect motivation: Personal relevance Values, Goals, Needs Perceived Risk Inconsistency with attitudes |
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ability
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resources to act
Knowledge and experience Intelligence, education, age Monetary resources |
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opportunity
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time- to consume message
distraction - TV, kids, etc information - amount, complexity |
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motivation leads to:
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involvement
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types of involvement
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Enduring - experts, over time, automobile fiends
Situational - scooters and me. tires: aren't always looking for them |
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involvement leads to:
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effort
high involvement=high effort low=low effort |
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Cognitive Responses
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thoughts we have in response to a communication
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types of cognitive responses
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-Counterarguments
-Support arguments -Source derogation |
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attitudes equation
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beliefs x evaluation
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Expectancy-value model
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High effort cognition based processing
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Theory of Reasoned Action (TORA)
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a model that provides an explanation of how, when, and why attitudes predict behavior
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TORA predicts
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INTENT, not actual behavior.
too many things affect actual behavior |
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Influencing attitudes through the source
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-Spokesperson credibility
-Company reputation -Medium itself |
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Influencing attitudes through the message
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-Argument quality
Color of razor (weak) Quality of blade (strong) -One versus two-sided messages one: one perspective two: comparibility -Comparative messages |
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emotional processing
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-not necessarily a direct relationship (Rice Krispies)
-Consumers have a strong affective reaction (emotion) which influences attitudes |
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Influencing attitudes through the source
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Attractiveness
-Similar to us, likable, familiar |
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Influencing attitudes through the message
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-Emotional appeals
-Fear appeals |
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Ad attitude affects Brand attitude when:
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-More informative ads (utilitarian)
-Ads create positive or negative feelings (hedonic) -Ads are interesting |
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Low effort-cognition based processing
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Attitudes are based on a few, simple beliefs
Simple inferences Cues in the ad Superficial analysis of brand name, country of origin, price, and color |
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Heuristics
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-Simple rules of thumb
-No need to think much to apply them -Frequency, endorser heuristics are commonly used |
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low: Influencing attitudes through the source
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Credible sources
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low: Influencing attitudes through the message
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-Category and schema-consistent information
-Large number of message arguments -Simple messages -Involving messages |
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low: Influencing attitudes through context factors
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Message repetition
-Helps knowledge acquisition -Makes the message or brand more familiar |
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classical conditioning elements
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Unconditioned stimulus
Unconditioned response Conditioned stimulus Conditioned response |
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Conditioning is more likely to occur when:
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-CS-UCS pairing is relatively novel or unknown
-CS precedes UCS -CS is paired consistently with the UCS -Consumer is aware of the pairing -Logical fit between CS and UCS |
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low: Influencing attitudes through the source
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-Attractive sources
-Likable sources -Celebrity sources |
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low: Influencing attitudes through the message
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-Pleasant pictures
-Music -Humor -Sex -Emotionally involving advertising |
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low: Influencing attitudes through context factors
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-Message repetition
-Program or editorial context |
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High effort: Complex decision making
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-Recognition of needs
-Information search -Evaluation of alternatives -Purchase decision -Postpurchase evaluation |
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Low effort: Simple decision making
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-Recognition of needs
-Evaluation of alternatives -Purchase decision -Postpurchase evaluation |
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three major types of decision processes
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-High effort:
Extended Problem Solving -Low effort: Limited Problem Solving Routinized Response Behavior |
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Extended Problem Solving
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-Product category or brand is new
-Purchase in the category is infrequent -More risk involved (financial, social, physical) -Decisions require a great deal of time and effort |
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Limited problem solving
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-Consumers are not motivated, able or have the opportunity to search for information extensively
-Alternatives are analyzed superficially -Brand may be new, but category is familiar -Alternatives are weighted using heuristics |
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Routinized Response Behavior
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-Also called Habitual Problem Solving
-Decisions are made with little or no conscious effort (Auto-pilot) -Consumer is familiar with brand and category -Decisions are low risks -Low or no information search |
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Segmentation
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the process of identifying groups of people with certain shared characteristics within a broad product market.
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Targeting
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the focus of all marketing activities toward a previously identified profitable segment of a market.
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Basis for Market segmentation
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-Demographic
-Geodemographic -Product-related traits -Media usage patterns -Ethnic and cultural traits -Psychographics |
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Demographics
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Age
Gender Race Income Education Occupation Geographic location |
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AACM
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African-American Consumer Market
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Geodemographics
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Identifies consumers with common consumption patterns based on geographic location
-PRIZM clusters |
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tools used to evaluate geodemographics
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Category Development Index (CDI)
Brand Development Index (BDI) |
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Media usage patterns
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part of market segmentation
-Amount of use -Type of media -Vehicles |
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Psychographics
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part of mkt segmentation
Values Personality Lifestyle Cultural and Ethnicity |
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Psychographics
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Values are enduring beliefs that a given behavior or outcome is desirable or good.
Examples: Materialism Work Play Family Health Hedonism Youth |
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Psychographics: Lifestyles
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This is an external manifestation of values and personality
Activities Interests Opinions |
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VALS
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Values and Lifestyle Survey
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Segmentation Primary sources
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Company research
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Segmentation Secondary sources
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BDI/CDI data
SMRB (Simmons) MRI (Mediamark) |
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AACM values
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Togetherness
Heritage Define own style Family Religion/church Empowerment |
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Hispanic values
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Culture, traditions and language
Some resist assimilation, majority use native language at home and socially Music, arts, sports (soccer, baseball, boxing) Family and children Personal appearance and aesthetics |
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Asian American values
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Group harmony and family togetherness
High value on education Obedience and responsibility to parents Personal interdependence |
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GLBT values
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Friendship
Politically active High social awareness Career building |
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Criteria for targeting
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-Unique
Important distinctions can be made in terms of targeting variables -Sizable The segment is large enough to be profitable -Reachable Consumers in the segment can be reached by an appropriate marketing mix |
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Brand positioning
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The way we want consumers to think about our brand relative to the competition
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Why do we position a brand?
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Optimize potential and appeal
Establish the competitive reason a consumer should select a brand To provide consistency in establishing relationships with customers |
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Essential elements of brand positioning
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Consumer needs
Target group Competitive framework Benefit Reason why Brand character |
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Consumer needs can be:
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Social: Needs related to other individuals
Nonsocial: Not based on others |
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needs can also be:
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-Functional: Resolve problems
-Symbolic: Self-enhancement, role position, ego, group membership -Hedonic: Sensory pleasure |
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Benefit
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Encapsulates the most meaningful product difference between our brand and the competitors
Benefit must be consistent with the product’s attributes |
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Brand character
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Element that addresses who your brand is (traits, image)
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Elements of a positioning statement
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Consumer needs
Target group Competitive framework Benefit Reason why Brand character |
