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Strategic Planning. Lecture 11. Recap. Chapter Key Points Research: The Quest for Intelligence and Insight Consumer Research Consumer Research Process. Chapter Outline. Chapter Key Points Advertising Strategy Basic Strategic Planning Decisions Account Planning: What Is It?

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Presentation Transcript
recap
Recap
  • Chapter Key Points
  • Research: The Quest for Intelligence and Insight
  • Consumer Research
  • Consumer Research Process
chapter outline
Chapter Outline
  • Chapter Key Points
  • Advertising Strategy
  • Basic Strategic Planning Decisions
  • Account Planning: What Is It?
  • Planning for IMC
key points
Key Points
  • Differentiate between objectives, strategies, and tactics in strategic planning
  • Identify the six basic decisions in an advertising plan
  • Explain how account planning works
  • Outline the key features in an IMC plan
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strategic planning1
The process of determining objectives, deciding on strategies, and implementing the tactics

Objectives

What you want to accomplish

Strategies

How to accomplish the objectives

Tactics

Make the plan come to life

Strategic Planning
a three tiered process
The business plan

The marketing plan

The advertising or IMC plan

May cover a specific division of the company or a strategic business unit with a common set of problems

A Three-Tiered Process
a three tiered process1
The business plan

The marketing plan

The advertising or IMC plan

Parallels the business strategic plan and contains many of the same components

A Three-Tiered Process
a three tiered process2
The business plan

The marketing plan

The advertising or IMC plan

Operates with the same concern for objectives, strategies, and tactics as business and marketing plans

A Three-Tiered Process
advertising strategy
Advertising Strategy

Advertising strategy is what the advertiser says about the brand being advertised. It is the formulation of advertising message that communicates the brand’s value proposition.

A five step process:

Specify the Key Fact

State the Primary Problem

State the Advertising Objectives

Implement the Creative Message Strategy

Establish Mandatory Requirements

Shimp, T.A. 2004, Advertising and Promotiona and other aspects of IMC

the advertising or imc plan
The Advertising or IMC Plan

Advertising plans provide the framework for the systematic execution of advertising strategies.

typical advertising or imc plan outline
Typical Advertising or IMC Plan Outline
  • Situation Analysis
  • Key Strategic Decisions
  • Media Strategy
  • Message Strategy
  • Evaluation of Effectiveness
situation analysis
Situation Analysis
  • Background Research
  • TOWS Analysis
  • Key Problems and Opportunities
key strategic decision
Key Strategic Decision
  • Advertising/ IMC Objectives and Strategies
  • Target Audience
  • Brand Position
  • Brand Image and Personality
  • Budget
media strategy
Media Strategy
  • Media Objectives
  • Vehicle selection and budget allocation
message strategy
Message Strategy
  • Key Consumer Insight
  • Selling Premise
  • Big Idea
  • Executions
evaluation of effectiveness
Evaluation of Effectiveness

Evaluation can be done in terms of

  • Sales
  • Profits
  • Customer Awareness, etc.
summary
Summary
  • Chapter Key Points
  • Advertising Strategy
  • Basic Strategic Planning Decisions
references
References
  • Wells, W., Burnett, J. and Moriarty, S. (2006), Advertising Principles and Practice, Prentice-Hall, New Delhi, ND.
  • Shimp T, 2010, Advertising, Promotion and other Aspects of Marketing Communications, 8th edition, South-Western.
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