Promotion P: a review The Marketing Context of Advertising and Promotion

Promotion Includes all communication efforts of the firm Company to customer contact Help company meet overall marketing objectives (sales, market share, etc.) Has its own objectives (Branding, awareness, attitude, positioning, experience, etc.) Flows naturally from the Marketing Plan (the other 3 Ps)

Objectives Review P: Promotion Discuss the IMC Plan Go through an example Practice through Group exercise

Promotion = Branding Advertising Sales Promotions Personal Selling Public Relations Alternative/Guerrilla Marketing Follow a synergistic (integrated) strategy

Branding We dont just want people to buy a brand, we want people to buy into a brand, to make it part of their lives – Stan Richards, The Richards Group (emphasis mine)

What is Branding? Branding is about telling a story Creating a brand Brand Identity – Brand Name, Logo, Letterhead, Business card, Packaging, Website, etc. Brand Promise – physical, psychological, emotional Brand Experience Brand Harmonization

The Audience = Target Market Define your Segments – Geographic – Psychographic – Demographic – Behavioristic Select your Target Market(s) – Profits – Best suited

Know your audience What are they really buying? THISTHATTHE OTHER THING Luxury WatchQualityStatus CosmeticsEnhanced AppearanceSelf-Esteem InsuranceProtectionSecurity House paintDurabilityLess work Financial publicationInvestment adviceBeing an insider MouthwashClean breathSocial acceptance

Successful Stories Riedel Glasses " The finest glasses for both technical and hedonistic purposes are those made by Riedel. The effect of these glasses on fine wine is profound. I cannot emphasize enough what a difference they make. -Robert M. Parker, Jr. The Wine Advocate Kiehls Since 1851 – A cult like brand that is owned by LOreal

Find the Brand Concept Functional vs. Emotional Benefits Brand Trust Brand Associations Brand Essence – What we are about – You can depend on us because we are – How the brand directly affects you – This is what will happen to you

Needs and Wants Marketers profit because consumers buy what they want, not what they need….the path to profitable growth is in satisfying wants not needs -Seth Godin, All Marketers are Liars (emphasis mine) Needs are practical and objective Wants are irrational and subjective

Brand Approaches Heritage Unique Brand Strengths Forward thinking The Standard Provenance Cutting Edge/Techie Sophisticated Original Iconic Personalities Down to Earth Community Company Values Personal Humor Fun We Understand Attitude

Telling a Story A Great Story….. – Is True (to someone) – Makes a promise (& delivers) – Is Trusted – Is Subtle – Happens fast – Appeal to our senses – Target a specific audience – Stay consistent – Agree with our worldview Marketing works when.. – Worldview and frames got there before you (use them) – People only notice the new and then make a guess – First impressions starts the story – Tell stories we believe – Authenticity is key

The importance of Branding Loyalty Product differentiation Brand Equity Brand personality

The IMC Plan Situation Analysis The Audience – Segmentation What do we want to accomplish? – Define Objectives The Message: attributes benefits – Positioning – Creative Strategy How will we achieve this? – The tactics: be synergistic – The media: be realistic The Budget: find ways to extend dollars Evaluation: is it working? – Measure relevant variables – Adjust accordingly

Situation Analysis SWOT Analysis Brand Audit – Include competitive analysis

The Audience Segmentation – Demographics – Psychographics Targeting – Profitability – Best market for product

Objectives & Messaging Objectives – Guided by Marketing Objectives – What the IMC plan will accomplish – Measurable Messaging – Define your positioning – Attributes Benefits – Target Market – Creative Strategy