Marketing and Advertising Planning
Top-down, Bottom-up and IMC
The Marketing Plan
1. The Importance of Marketing Planning
1. The marketing plan assembles all the pertinent facts about the organization, the markets it serves, and its products, services, customers, competition, and so on.
2. It forces all of the departments-product development, production, selling, advertising, credit, transportation-to focus on the customer.
3. Finally, it sets goals and objectives for specified periods of time and lays out strategies and tactics to achieve them.
2. The Effect of the Marketing Plan on Advertising
1. It helps managers analyze and ...view middle of the document...
2. Marketing objectives, which derive from corporate objectives, relate to the needs of target markets and to specific sales goals referred to as:
1. Need-satisfying objectives - shift manager’s view of the organization from a producer of products or services to a satisfier of target market needs.
2. Sales-target objectives - are specific, quantitative, realistic marketing goals to be achieved within a specified time period.
3. Marketing Strategy - the total directional thrust of the company’s marketing efforts; a statement of how the company is going to achieve its objectives. A company’s marketing strategy has a dramatic impact on its advertising and it determines the following:
1. Selecting the target market
2. Determining the market mix
3. Positioning the product
4. Marketing Tactics (action program) - determine the specific short-term actions to be taken - internally and externally - by whom and when.
4. Bottom-Up Marketing: How Small Companies Plan
1. The tactic: A singular, competitive mental angle - Advertisers need to find just one tactic and build a strategy around it, focusing all the elements of the marketing mix on the tactic.
The New Marketing Mantra: Relationship Marketing
1. Relationship marketing: creating, maintaining, and enhancing long-term relationships with customers and other stakeholders that result in exchanges of information and other things of mutual value
2. Importance of Relationships: the cost of lost customers, the cost of acquiring new customer, and the value of loyal customers
3. Levels of Relationships: Kotler & Armstrong
Using Integrated Marketing Communications (IMC) to Make Relationship Work
A. IMC: The Concept and the Process
1. IMC is both a concept and process. Integration of the elements of marketing mix.
2. The evolution of the IMC concept - integrated marketing communications is the process of building and reinforcing mutually profitable relationships with employees, customers, other stakeholders, and the general public by developing and coordinating a strategic communications program that enables them to make constructive contact with the company/brand through a variety of media.
3. Companies had to change their perspectives: Inside-out view of IMC, Outside-in view of IMC
4. How the customer sees marketing communications
5. The four Sources of Brand Messages: Planned, product, service, and unplanned messages
2. The IMC Approach to Marketing and Advertising Planning -
1. IMC is a new approach: mixes marketing and communications planning together, rather than separating them.
2. Begins with the customer and works back to the brand.
3. Computer technology can determine customer behavior for use in IMC programs.
4. The ever-expanding database of customer behavior becomes the basis for planning all future marketing and...