Marketing Communications

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Presentation transcript:

Marketing Communications Budgeting and Planning Week 3 L1

Why Plan? After things have gone from bad to worse, the cycle will repeat itself.

The Communications Plan CONTEXT ANALYSIS Key Issues COMMUNICATION OBJECTIVES Market Research COMMUNICATION STRATEGY Target Audience Creative and Media Strategy Push, Pull and Profile Strategy INTEGRATED COMMUNICATION PLAN Budgets Scheduling Implementation (Chris Fill, 2002)

ENVIRONMENTAL CONTEXT The Communications Context ENVIRONMENTAL CONTEXT STAKEHOLDER CONTEXT BUSINESS CONTEXT CUSTOMER CONTEXT Ethical and Moral Stance Local and National Government Market dynamics ORGANISATION CONTEXT Investors City Shareholders Business Objectives Acquisition Retention Customer Profiling Competitive positioning Suppliers Employees Partners Local and National Community

The Communication Budget Who decides the budget? When is it set? How is the decision reached? Special cases for expenditure

Difficulties Justifying the Budget Tangible v Intangible benefits Uncertainty Time Scales

The Communications Budget % of previous years sales % of product gross margin Desired share of voice % of anticipated turnover Objective & task Experimentation All we can afford Marginal analysis New products

Share of Voice . . . . . . . SOV=SOM Share of market Share of voice Leader underspending SOV=SOM . B1 Original Position . B2 New position New position B1 Competitor launches attack spend Share of market . . B3 . . B6 B2 Original Position . B4 . B5 Share of voice B1, 3, 4 & 6 - SOM>SOV B2 & 5 SOM<SOV

SOV & SOM Budget Setting Profit-taking brands – SOM>SOV relaxed advertising Equilibrium brands – SOM=SOV maintenance advertising Zero-based brands – Niche no advertising spend Growth brands – SOV>SOM heavy advertising Milking brands – SOV<SOM token advertising

Strategies for Advertising Spend HIGH Decrease - find a defensible niche Increase to defend Competitors SOV Attack with large SOV premium Maintain a modest spending premium LOW LOW Your share of market SOM HIGH (Schroer, 1990)