Marketing Communications Starting Point: MCP!

Questions for Comm. Mix Development Multiple Objectives: Which one? Multiple Segments: Which one? Multiple Mediums: Which one? Limited Revenues: How much? WHERE IS THE PLAN?

Marketing Communications Plan Starting point for developing a communication mix Defines the goal that has to be achieved Defines the resources available Defines the key challenges

SOSTAC Planning System Just one of the many approaches Helps recall all the essential elements Can be used for any kind of a plan Most commonly used planning system by over 3000 managers worldwide Works for both consumer and B2B products

Enough selling…lets reveal the plan Situation Analysis (where are we now?) Objectives (where do we want to go?) Strategy (how do we get there?) Tactics (details of the strategy) Action (implementation of plans) Control (measurement, review & modification)

Situation Analysis: It’s a war - Sun Tzu! Those who triumph compute at their headquarters a great number of factors prior to a challenge. Those who are defeated, compute at their headquarters a small number of factors prior to a challenge Much computation brings triumph. Little computation brings defeat. How much more so with no computation at all. By observing only this, I can see triumph or defeat!

Situation Analysis Performance Review (Sales, MS, Profitability) Brand Review (Recall, Imagery, Strengths) Competition Review (MS, Recall, Imagery, Portfolio) Consumer Review (Segments, Usage, Needs, Decision)

Objectives We know where we are? But, where do we want to go? Define our objectives

Good Objectives Smart Measurable Actionable Realistic Time Specific

Objectives: Mktg vs. Comm Marketing Objectives What do we want to achieve in terms of sales, market share, penetration, FOP etc.? Communication Objectives How will communication help us achieve the marketing objectives in terms of awareness, attitudes, interest, trials? One follows the other!

Examples of Marketing Objectives Increase market share by X% in the next 12 months Generate 5000 footfalls in the next 4 weeks Increase distribution penetration by X% in 6 months

Examples of Communication Objectives Increase brand awareness by X% amongst SEC AB in 12 months Improve image scores on VFM from 30 to 50 in the next 2 years Reposition the brand from being old & unfashionable to young & trendy

Good Communication Objectives SMART DAGMAR (defining advertising goals for measuring advertising responses) Unawareness Awareness Comprehension Conviction Action AIDA (attention, interest, desire and action)

Strategy We know where we want to go? Lekin jaenge kaise? Communication Strategy Core TG Priority Markets Positioning / Communication Message Communication Mix

Stop & Sit Segmentation (who will go after?) Target Markets (where all will we get him?) Objectives (will it meet our objectives?) Positioning (what space do we need to occupy?) & Stages (are there multiple stages or a sequence?) Integration (does it all add up?) Tools (which elements are we using?)

Tactics Details of the strategy Communication Tools Advertising PR Direct Mail Promotion Where? How much? When? For how long?

Action Implementation of tactics Gadha Majdoori Network Management  People  Time  Prioritising  Pressure

Control Monitoring, measuring & controlling Define the system Measures (ATP) Frequency of measurement (Q, HY, Y) Who does it? (Internal Team / MR Agency) Action mechanism (What? Who? When?)

Ek baar phir se? Situation Analysis (where are we now?) Objectives (where do we want to go?) Strategy (how do we get there?) Tactics (details of the strategy) Action (implementation of plans) Control (measurement, review & modification)

Case Study #1 Bank of Baroda

Not seeing opening of any new accounts in the last 3 years 40% of existing accounts also maintaining QMB to retain the A/C Growth being witnessed by ICICI Bank & HDFC Bank Management confirms that BOB provides all the products / services that are offered by ICICI Bank & HDFC Bank The Marketing Objective defined by the management in the next 12 months is to activate current account holders You as the ‘Marketing Team’ are required to make the MCP using SOSTAC as a planning approach