PROMOTIONS OPPORTUNITY ANALYSIS Ch. 5 with Duane Weaver

OUTLINE Building the IMC Plan Situational Analysis –Promotions Opportunity Analysis –Communication Market Analysis Establish Marketing Communications Objectives Establish a Communications Budget Prepare Promotional Strategies Matching Segmentation Tactics with Strategy

Building the IMC Plan …building an IMC program begins first with the construction of a quality marketing plan. IMC PLAN: –Situation Analysis –Establish Objectives –Create Budget –Market Strategies –Tactics based on Strategies (segmentation)

Situational Analysis Promotions Opportunity Analysis –Identify target audiences for your goods and services Communication Market Analysis –Competitive Analysis & Opportunity Analysis SWOT anyone –Target Market Analysis Characteristics Personification –Customer Analysis 1.Current customers 2.Competitions customers 3.Potential new market customers –Positioning Analysis Our products Other products (ours/competitors) Other disposable income choices

Establish Marketing Communications Objectives Overall Goal of IMC plan Measurable – % Δ penetration/share, % or $ Δ in sales, Δ in positioning, Δ stock value, Δ customer attitudes, ROI, ROA, ….etc. “The intended Message” –What will they say after vs. what they say now Benchmarking

Establish a Communications Budget Goal Threshold effects Carryover effects Wear out effects Decay effects Random effects Types –% sales (easy…but may be inverse of what is needed then) –Match Competitor (keep up with Jones) –Arbitrary allocation (dart board anyone…pass the martini) –$ in the pockets (no more pennies) –Objective & task (cumulate costs of tasks) –Payout planning (more at intro…less later)

Establish a Communications Budget SEE FIGs 5.4 and 5.5 in text

Prepare Promotional Strategies Long Term Sweeping guidelines concerning “essence” of marketing Related to Market Plan initiatives

Matching Segmentation Tactics with Strategy TACTICS (doing it. How to!) –Add excitement to plan –Do not detract from Strategy –Ads, personal selling enticements, sales promos, packaging & labeling, pricing –Coupons, certificates, bonuses, special containers (popcorn in wine), contests, prizes, rebates, volume discounts –Education programs (internal/external) –Whatever needs to be done…gets done!

Matching Segmentation Tactics with Strategy Segmentation: –Traditional Demographic Psychographic Geographic Socio-graphic Cultural Generational Benefit Usage Customer Value Industry Process (decision…) –Your Way What makes sense? Is it measureable?

THANK YOU!