Marketing Challenges of the New Millennium CompetitionCompetition New Product s Brand Erosion Consume r Attitudes Time Poverty.

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Presentation transcript:

Marketing Challenges of the New Millennium CompetitionCompetition New Product s Brand Erosion Consume r Attitudes Time Poverty

Media Strategies for the New Millennium l Increase ad reach l Target best prospects l Generate needed frequency l Reach mobile consumers l Increase ad reach l Target best prospects l Generate needed frequency l Reach mobile consumers l Build relationships l Stimulate purchases l Maximize media investments l Create effective, affordable messages l Build relationships l Stimulate purchases l Maximize media investments l Create effective, affordable messages

A Few Radio Facts...

95%95% Radio Reaches of All Consumers Every Week

Radio Reaches 75% of All Consumers Every Day Average daily reach: persons Source: RADAR ® 63, Fall 1999, (c) Copyright Statistical Research, Inc. (Monday-Sunday, 24 hours, based on daily cume)

Radio is the Medium of Choice All Day Average daily share of time spent with each medium Persons 12 and older, Monday-Friday 6 a.m. to 6 p.m. Source: Arbitron/RAB - Media Targeting 2000

Radio Reaches Customers Everywhere Radio listening by location Source: RADAR ® 63, Fall 1999, (c) Copyright Statistical Research, inc. Numbers are Monday-Sunday, 24 hours

Radio Listeners Listen… Source: Fall 1999 Arbitron American Radio Trends Time Spent-Listening Estimates, Monday-Sunday 6 a.m.-midnight; Average Weekday (Monday-Friday 6 a.m.-midnight); and Saturday/Sunday 6 a.m.-midnight. Based on Arbitron’s 94 Continuous Measurement Markets. 3:14

2020 Consumers spend more than Hours listening to Radio every week!

63%63% Radio Reaches 25 to 54 year-old consumers within one hour of making their largest purchase of the day.

Radio Revenues Annual Revenues ($ billions) Source: Universal McCann $19.8B

Radio Revenues Annual Revenues ($ billions) Source: Universal McCann / Veronis, Suhler & Associates $19.8B $20.7B

Radio Revenues Local: -4% National: -21% Combined: -8% Local: -4% National: -21% Combined: -8%

Circle of Doom “Regrettably, cutting advertising leads to a circle of doom. It happened to us, and now we have to restore support to our franchises and reconnect to consumers once again.” l 15% increase in market spending ($200M) in 2002 l Renewed emphasis on advertising l 15% increase in market spending ($200M) in 2002 l Renewed emphasis on advertising Douglas Conant, CEO Campbell Soup Company Ad Age, July 2001 Douglas Conant, CEO Campbell Soup Company Ad Age, July 2001

And now, a few words from our sponsors... Radio

l Effectively promote BMW in a crowded (foreign car)market l Earn a “safety” position in mind of consumers l Weaken competition from other imports l Differentiate from Lexus l Effectively promote BMW in a crowded (foreign car)market l Earn a “safety” position in mind of consumers l Weaken competition from other imports l Differentiate from Lexus BMW Automobiles

“All the things you are…” BMW Automobiles

l Suburban Minneapolis, Minnesota l Radio exclusively for past 12 years l 7 area stations, 25 spots per week l Soft-sell, creative approach l Suburban Minneapolis, Minnesota l Radio exclusively for past 12 years l 7 area stations, 25 spots per week l Soft-sell, creative approach Jim Paul Valley Olds, Pontiac, GMC

“Gorilla”“Gorilla”

Jim Paul l Radio: “The driving force” l No TV, little print l Purchased 3 additional dealerships l “Have your dealers call me!” l Radio: “The driving force” l No TV, little print l Purchased 3 additional dealerships l “Have your dealers call me!”

l Discount store chain (851 stores) l 75% of sales of Dayton-Hudson l More upscale than Wal-Mart, Kmart l Slow women’s apparel sales l Heavy traditional print advertiser l Moving into new markets: Chicago l Discount store chain (851 stores) l 75% of sales of Dayton-Hudson l More upscale than Wal-Mart, Kmart l Slow women’s apparel sales l Heavy traditional print advertiser l Moving into new markets: Chicago

“The place to hit…”

l New market: 10 new stores at once l “Radio Roadblock” for Chicago opening l Coordinated by Radio Broadcasters of Chicagoland (24 7:40 AM) l “Most successful grand opening ever” l “Sales exceeded expectations by 55%” l New market: 10 new stores at once l “Radio Roadblock” for Chicago opening l Coordinated by Radio Broadcasters of Chicagoland (24 7:40 AM) l “Most successful grand opening ever” l “Sales exceeded expectations by 55%”

l 2nd oldest orchestra in US l Competition from other entertainment –New football team (from LA) –New hockey arena l Comp from other “charities” l 2nd oldest orchestra in US l Competition from other entertainment –New football team (from LA) –New hockey arena l Comp from other “charities”

“Beethoven”“Beethoven”

l First property in 1962 l Target: Budget-minded travelers l Original price: $6 per night l Three bankruptcies l First property in 1962 l Target: Budget-minded travelers l Original price: $6 per night l Three bankruptcies

“Europe”“Europe” AUDIO

l 760 properties today l $700-million revenue l $34 average rate per room l Largest company-owned/operated lodging chain in US l Higher occupancy than Sheraton, Hilton, Hyatt l 760 properties today l $700-million revenue l $34 average rate per room l Largest company-owned/operated lodging chain in US l Higher occupancy than Sheraton, Hilton, Hyatt

l Rampant bank consolidation l California: –Bank of America –Wells Fargo (1st Interstate) l Fight the “mega-bank” image l Rampant bank consolidation l California: –Bank of America –Wells Fargo (1st Interstate) l Fight the “mega-bank” image

“Voice Mail” AUDIO

The Pine Street Inn l Homeless shelter in Boston, MA l Cutbacks in government funding l Cutbacks in corporate charity l Public aversion to “homeless problem” l Public lack of appreciation of severity of conditions l Homeless shelter in Boston, MA l Cutbacks in government funding l Cutbacks in corporate charity l Public aversion to “homeless problem” l Public lack of appreciation of severity of conditions

“Stephen King” The Pine Street Inn

l 1969: one shelter; 250 men l 1999: 25 shelters; 1,000 men, women and children each night l “A hot meal and a safe place to sleep” l Health care, counseling, and job training l 1969: one shelter; 250 men l 1999: 25 shelters; 1,000 men, women and children each night l “A hot meal and a safe place to sleep” l Health care, counseling, and job training The Pine Street Inn

l #1 athletic shoe and apparel seller l Shares slipping l Adidas gaining market share l Supporting 20,000 retail outlets l Radio-approved co-op support program l #1 athletic shoe and apparel seller l Shares slipping l Adidas gaining market share l Supporting 20,000 retail outlets l Radio-approved co-op support program

“Hubble Telescope”

l Bobby Moore - Wieden & Kennedy l Belief in his creative l Mercury Award Grand Prize Winner l $100,000 cash l Bobby Moore - Wieden & Kennedy l Belief in his creative l Mercury Award Grand Prize Winner l $100,000 cash

The $100,000 Grand Prize Radio-Mercury Awards

a few more words from our sponsors... Radio l Chevy’s l C-Net l Georgia Department of Transportation l Budweiser l Radio /TV l Chevy’s l C-Net l Georgia Department of Transportation l Budweiser l Radio /TV

l Mobile l Targeted l Intrusive l Persuasive l Cost-effective l High frequency l Medium of choice for busy consumers The Medium for the New Millennium The Medium for the New Millennium

Radio The Medium for the New Millennium The Medium for the New Millennium Mike Mahone, RAB Executive VP/Services, Dallas, Texas The Radio Advertising Bureau presents...