Review Week Two

Marketing Communications designed on the basis of Customer Focus

Customer Profile: Outline of the type of customer likely to purchase product/brand. Developing a customer profile will helps target marketing communications and is an essential analysis tool. Allows concentration on real potential customers rather than too wide a range of people.

Customer Profile: Outline of the type of customer likely to purchase product/brand. Developing a customer profile will helps target marketing communications and is an essential analysis tool. Allows concentration on real potential customers rather than too wide a range of people.

5 Faces of Customer Profile

Positioning Techniques and Brand Positions

Positioning How your target market defines you in relation to your Competitors

Thought a Benefit by Customers Desired Position is: What makes you unique Thought a Benefit by Customers + Focus is standing out in a “noisy” market

Point of Difference The most compelling and motivating benefit that the brand can deliver relative to competitor offerings Differentiation: increases margins increases customer loyalty reduces switching

Proposition to Position Statement 4 elements: Target audience – description of core customer Frame of reference - brand category Benefit/Difference - compelling benefit Reason to Believe – proof of delivery

Positioning Differences Important – to target market Distinctive – compared to competition Superior – to other ways customer can get value Communicable – can be explained and communicated Preemptive – competitors cannot easily copy Affordable – buyers can pay for difference Profitable – to business

Objective Setting and Budgeting

Setting Marcom Objectives Goals that the various marcom elements aspire to individually or collectively achieve during a scope of time such as a business quarter or fiscal year.

Requirements for Setting Suitable Marcom Objectives Include a precise statement of who, what, and when Be quantitative and measurable Specify the amount of change Be realistic Be internally consistent Be clear and put it in writing

Practical Budgeting Methods Percent-of-Sales Budgeting Objective-and-Task Method Competitive Parity Method (match competitors’ method) Affordability Method

Objective-and-Task Method The most sensible and defendable advertising budgeting method Specify what role they expect advertising to play for a brand and then set the budget accordingly