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135 Cards in this Set
- Front
- Back
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Strategic Planning
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The process of identifying a problem that can be solved with marketing communication, then determining objectives, deciding on strategies, and implementing the tactics.
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Objectives
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What you want to accomplish
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Strategies
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How to accomplish the objectives
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Tactics
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Actions that make the plan come to life
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Seven principles that link creative thinking and strategic planning to business results
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1. Always start from scratch
2. Demand a ruthlessly simple definition of the Business problem 3. Discover a proprietary emotion 4. Focus on the size of the idea, not the size of the budget 5. Seek out strategic risks 6. Collaborate or perish 7. Listen hard to your customers |
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Strategic Business Unit (SBU)
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A line of products or all of the offerings under a single brand name
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Return on investment (ROI)
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A measurement that shows whether, in general, the costs of conducting the business, the investment, are more than matched by the revue produced in return
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Marketing Plan
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Developed for a brand or product line and evaluated annually, although sections dealing with long-term goals might operate for a number of years. Mirrors the company's business plan and contains many of the same components
(Business mission - Research of external/internal environment - goal formulation - strategy formulation - tactical formulation - implementation - feedback and control) |
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Market Situation Analysis
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Based on extensive market research that assesses the external and internal environments that affect marketing operations. (SWOT)
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Share of Market
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Measurements referring tot he percentage of the category purchases that are made by the brand's customers.
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Marketing Mix Strategy
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Includes decisions about the target market, brand position, product design and performance, pricing, and distribution; marketing communication
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Campaign Plan
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Tightly focused on solving a particular marketing communication problem in a specified time:
-SWOT -Key Strategic Campaign Decisions -Media Strategy -Message Strategy -Other Marcom Tools Used in Support Campaign Management |
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Measurable Objectives
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1. A specific effect that can be measured
2. A time frame 3. A baseline (where we are or where we begin) 4. The goal (a realistic estimate of the change the campaign can create; benchmarking is used to justify the projected goal) 5. Percentage change (subtract the baseline form the goal; divide the difference by the baseline) |
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Position
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How consumers define the product or brand in comparison to its competitors
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Features
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To determine where the brand has an advantage over its competitors
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Product Differentiation
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A strategy designed to focus attention on product differences that are important to consumers and that distinguish the company's product from that of its competitors
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Parity products
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Undifferentiated products (milk, gas, drugs, etc)
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Feature analysis
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Structures an assessment of features relative to competitors' products to identify where a brand has an advantage
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Competitive advantage
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found where the product has a strong feature in an area that is important to the target and where the competition is weaker
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Superiority Position
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Something that is faster, fancier, safer, or newer
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Preemptive Position
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Being the first in the category often creates category leadership and dominance
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Value Position
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Like Walmart
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Psychological position
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Like Volvo
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Benefit Position
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How does the product help the consumer
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Usage Position
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How, where, and when is the product used and who's using it?
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Competitor strategy
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How can the prouduct go head to head with or move completely away from competitors
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Category Factors
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Is competition coming from outside the category?
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Perceptual Map
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Plots all of the competitors on a matrix based on the two most important consumer decision factors
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Repositioning
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To make a new position realted to the brand's core concept
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Selling Approaches
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Hard - Persuasion
Soft - building image for a brand and touch consumer's emotions |
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Brand image
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The mental impression consumers construct for a product
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Brand linkage
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The richness of the brand image determines the quality of the relationship and the strength of the associations and emotional connections that link a customer to a brand
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Integrated Perception
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A brand is an integrated perception that includes fragments of information, feelings, and personal experience. All of which come together to give the brand meaning
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Share of Wallet
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The amount customers spend on the bran
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Historical Method
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Historical info is the source of this method. A budget may simply be based on last year's budget, with a percent increase for inflation, etc
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Objective-task method
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looks at the objectives for each activity and determines the cost of accomplishing each objective
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Percentage-of-sales Method
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Compares the total sales with the total advertising budget during the previous year or the average of several years to compute a percentage
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Competitive Budgets
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This method uses competitors' budgets as benchmarks and relates the amount invested in ads to the product's share of the market
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Share of mind
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Share of market
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Account Planning
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The research and analysis process used to gain knowledge of the consumer that is expressed as a key consumer insight about how people relate to a brand or product
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Account Planner
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A person in an agency who uses a disciplined system to research a brand and its customer relationships to devise advertising message strategies that are effective in addressing consumer needs and wants
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Insight mining
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Finding the "a-ha" in a stack of research reports, data, and transcripts
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Communication Brief/Creative Brief
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Strategy document which explains the consumer insight and summarizes the basic strategy decisions
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Outline of a typical Communication Brief
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Problem
Target Audience Consumer insights Brand imperatives Communication objectives The proposition or selling idea Support Creative Direction Media Imperatives |
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IMC Plan
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Follows the same basic outline as an advertising plan, but the difference is the scope of the plan and the variety of marketing communication areas involved in the effort:
Public Relations Consumer Sales Promo Trade Sales Promo Point-of-purchase Direct Marketing Sponsorship and Events Packaging Specialties |
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Stakeholder
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Any group of people who have a stake in the success of a company or brand
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Internal Marketing
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Employees are particularly important and their support for marketing, advertising, and marketing communication programs is managed
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6-8 principles of IMC
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6 - Stakeholders overlap
7 - All contact points deliver brand messages 8 - Consistency drives synergy |
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Contact Points/Touch Points
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All the ways and places where a person can come into contact with a brand, all the points where a message is delivered about the brand
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Strategic Consistency
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Messages vary with the interest of the stakeholder but the brand strategy remains the same
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Cross-functional planning
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Everyone involved in delivering messages or responding to consumer messages needs to be involved in planning the campaign so no off-strategy messages undercut the consistency of the effort
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Media
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The way messages are delivered to target audiences and, increasingly, back to companies, as well as among audience members themselves
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Media Vehicle
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A specific TV program, newspaper, magazine, or radio station or program
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Mass media
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The communication channels through which messages are sent to large, diverse audiences
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Broadcasting media
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Cast their audio and visual signals broadly to reach mass audiences
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Niche media
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Communication channels through which messages are sent to niche segments (identifiable groups of people with a distinct common interest)
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Addressable media
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Like the Internet, mail, and the telephone, are used to send brand messages to specific geographic and electronic addresses; Interactive media, such as the phone and internet, allow 2 way communication between companies and customers (b2c, c2c)
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Measured Media
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The ability of media planners to analyze the cost of a media buy relative to the size of the medium's audience.
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What do Media do?
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Media deliver messages. They are interactive, engage and connect and touch a consumer
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(Principle) Every Technological advance has threatened older media, and every new medium is launched in the footprints of its predecessor media
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(Principle) Word of mouth delivers personalization, as well as a high level of persuasion
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Media Salespeople
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Work for a specific vehicle, such as a magazine or local television station, with the objective of building the best possible argument to convince media planners to use the medium they represent.
They are responsible for assembling packets of information/sales kits |
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Sales Kits
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Compiling profile info about the people who watch, listen, ore read the medium, along with the numbers describing audience size and geographical coverage.
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Cross-Media/Multichannel
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Deliver a similar cross-media ad sales program... Integrated deals with Radio, internet, outdoor, tv, etc
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Media reps/brokers
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People/companies who sell space (in print) and time (in broadcast) for a variety of media
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Media Planning
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Determine the best way to deliver a message
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Media Researchers
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Compile audience measurement data, media costs, and availability data for the various media options being considered by the planners
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Media Planners
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Develop the strategic decisions outlined in the media plan, such as where to advertise geographically, when to advertise, and which type of media to use to reach specific types of audiences
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Media buyers
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implement the media plan by contracting for specific amounts of time or space
Expected to maintain good media supplier relations to facilitate a flow of info within the fast-changing media marketplace |
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Media Plan
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Identifies the best media to use to deliver an advertising message efficiently to a targeted audience
Balance message impact and cost - maximizing impact while minimizing cost |
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Media Mix
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The way various types of media are strategically combined to create a certain kind of impact
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Multiplatform
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Describes multichannel and multimarketing communication areas
In addition to traditional measured media advertising, they go into a variety of different tools! (Guerilla, events, social media, etc) |
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Generations
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Traditionalists - All print and radio
Boomers - 50's-60's also grew up with TV Gen Xers - 30's-40's had video games, VCRS, Walkman, Tape recorders Gen Yers - twenty had cellphones and computers Millenials - most recent generation |
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Exposure
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Doesn't equate to readership or viewership. First step in making an impact is perception
Circulation |
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Circulation
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Impressions are different from circulation
Refers to copies sold |
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Gross Impressions
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Estimate of total impressions
Impressions is one person's opportunity to be exposed one time to an ad in a specific vehicle |
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Ratings
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Percentage of exposure
Easier measurement to work with because it converts the raw figure to a percentage of households |
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Share
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The percent of viewers based on the number of sets turned on
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Reach
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The percentage of the media audience exposed at least once to the advertiser's message during a specific time frame
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Frequency
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The number of times a person is exposed to the advertisement
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Intrusiveness
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The ability of a medium to grab attention by being disruptive or unexpected
The more intrusive a medium, the more it can be personalized, but also the more costly it is to use |
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Relationship Marketing
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Originated with public relations
Shifts the focus from the objective of getting a one-time purchase by a target to the maintenance of long-term involvement from all of the firm's critical stakeholders |
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Critical Touchpoint
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One that connects the brand and customer on an emotional level and leads to a yes or no decision about a brand relationship
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Experiential Marketing
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Touch-point strategies and programs use events and store design, among other means, to engage consumers in a personal and involving way
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Packaging
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Receiving increased attention as a key contact point
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Viral Marketing
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Designed to create a ground-swell of demand for a brand. Depends totally on consumers creating buzz through their own e-mails and mentions on blogs, FB, YouTube, and Twitter
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Customer Service
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Represents a company's attitude and behavior during interactions with customers
If an interaction is positive, it can strengthen a customer-brand relationship; if negative, it can weaken or destroy a brand relationship |
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Guerilla Marketing
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Uses the power of involvement to create memorable brand experiences
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Product Placement
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A brand appears in a TV program, movie, or even in print as a prop
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Advertainment/Branded Entertainment
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The use of media of entertainment to engage consumers with brands
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Webisodes
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Similar to TV programs with recurring episodes in a developing story
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Branded Apps
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Generally free apps that are linked to a brand
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Newspaper Lead Time
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The advance time needed to produce a publication.
Retailers like to place ads and press releases in newspapers |
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Newspaper Market Selectivity
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Allows newspapers to target specific consumer groups
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Newspaper Rate Card
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List of the costs for advertising space and the discounts given to local advertisers and advertisers who make volume buys; national advertisers pay a higher rate
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Newspapers One-order, one-bill
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Newspaper reps sell space for many different newspapers, and it saves an advertiser or its agency from the need to make a multitude of buys to run a national or regional campaign in newspapers
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Newspaper Standard Advertising Unit
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Makes it possible for newspapers to offer advertisers a great deal of choice within a standard format
An advertiser can select one of the 56 standard ad sizes and be assured that its ad will work in every newspaper in the country |
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Newspaper Co-op Advertising
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An arrangement between the advertiser and the retailer whereby the retailer buys the ad and the manufacturer pays half or a portion depending on the amount of space the manufacturer's brand occupies
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Newspaper Display Advertising
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Can be of any size and can be placed anywhere in the newspaper except the editorial page
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Newspaper Run-of-Paper Rate
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Advertisers who don't care where their display ads run in the newspaper
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Newspaper Preferred-Position Rate
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Lets them select sections in which the ad will appear
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Newspaper Supplements
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Magazine-style publications inserted into a newspaper
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Free Standing Insert
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Like the grocery ads in the newspaper
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Audit Bureau of Circulations (ABC)
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An independent auditing group that represents advertisers, agencies, and publishers
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Consumer Magazines
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Directed at people who buy products for personal consumption
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Business Magazines
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Trade - retailers, wholesalers, and other distributors
Industrial - Manufacturers Professional - Physicians, lawyers Farm - Agriculture Corporate - Airlines |
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Vertical Publication
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Presents stories and information about an entire industry
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Horizontal publication
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Business functions that cut accross industries, like Direct Marketing
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Traditional Delivery/Controlled Circulation
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Through newsstand purchases or home delivery via the USPS; measured media and their circulation/sales can be determined
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Uncontrolled Circulation
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The magazine is distributed free to specific audiences
Usually lower readership and lower ad costs |
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Magazine Double-page Spread
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Two ad pages face each other
A double page ad must jump the gutter, the white space running between the inside edges of the pages, so no headline words can run through the gutter |
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Bleed
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A page without outside margins, and the ad's ink extends to the very edge of the page
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Gatefold
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More than 2 connected pages that fold in on themselves; the use of multiple pages that provide photo essays is an extension of the gatefold concept
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Guaranteed Circulation
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Readers-per-copy
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Directional Advertising
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Like what the yellow pages do. It tells people where to go to get the product/service they want
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Showing
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Typically based on a traffic count, the number of vehicles passing a particular location during a specified period of time.
100 showing is the basic standard unit will expose to 100% of the market population everyday Boards are usually rented for 30-day periods Painted bulletins are bought on an individual basis, usually for one, two, ore three years |
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Broadcast Media
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Media forms that transmit sounds or images electronically; includes radio, TV and other video forms, and movie advertising
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Radio Affiliates
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Radio networks are groups of affiliated stations
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Local Public Radio
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Usually the NPR stuffs
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Cable Radio
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Launched in 1990, this tech uses cable TV receivers to deliver static-free music via wires plugged into cable subscribers' stereos
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Morning Drive Time segment
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The period when the most listeners are tuned in to radio
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Radio Aperture
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Knowing when the target audience is most likely to be listening and responsive
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Spot buys
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Local advertising on a city-by-city basis
to gain local ground |
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Time-shifting
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The tech to make it possible to record the programming without the hassles of videotape, letting users pause, do instant replays, and begin watching programs even before the recording has finished
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HUT
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Households Using Television
Doesn't tell you if anyone is watching the program |
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TV Sweeps period
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Quarterly periods when more extensive audience data and demographics are gathered
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Zip
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Fast Forward
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Zap
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Change Channels
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Broadband
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To indicate a high speed connection to the internet
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Bandwidth
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Describes the carrying capacity of an individual's computer connection; how much digital data it can handle
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Zines
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Magazines or newsletters that are only available over the internet
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Banner ads
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Overall click-through rate has dropped to less than 1%
The most successful banner ads achieve 5-7% click-through and can help build brand awareness even if they don't deliver a high level of response |
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Offline advertising
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Appears in conventional media to drive traffic to a website
Ads in print, etc |
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Tag Clouds
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Visual representations of the use of keywords in searches and tags in social networking
Creates a collage of words associated with a certain phrase or name |
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Issues of the internet
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Measuring Internet advertising and privacy concerns
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Database Marketing
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Advertiser can input key demographic and behavioral variables, making the consumer feel like the ad is just for him or her
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