Promotion P: a review

1. Promotion P: a review The Marketing Context of Advertising and Promotion

2. Promotion • Includes all communication efforts of the firm • Company to customer contact • Help company meet overall marketing objectives (sales, market share, etc.) • Has its own objectives (Branding, awareness, attitude, positioning, experience, etc.) • Flows naturally from the Marketing Plan (the other 3 P’s)

3. Objectives • Review P: Promotion • Discuss the IMC Plan • Go through an example • Practice through Group exercise

4. Promotion = Branding • Advertising • Sales Promotions • Personal Selling • Public Relations • Alternative/Guerrilla Marketing Follow a synergistic (integrated) strategy

5. Branding “We don’t just want people to buy a brand, we want people to buy into a brand, to make it part of their lives” • Stan Richards, The Richards Group (emphasis mine)

6. What is Branding?Branding is about “telling a story” • Creating a brand • Brand Identity • Brand Name, Logo, Letterhead, Business card, Packaging, Website, etc. • Brand Promise – physical, psychological, emotional • Brand Experience • Brand Harmonization

7. The Audience = Target Market • Define your Segments • Geographic • Psychographic • Demographic • Behavioristic • Select your Target Market(s) • Profits • Best suited

8. Know your audienceWhat are they really buying?

9. Successful Stories • Riedel Glasses "The finest glasses for both technical and hedonistic purposes are those made by Riedel. The effect of these glasses on fine wine is profound. I cannot emphasize enough what a difference they make.” -Robert M. Parker, Jr. The Wine Advocate • Kiehl’s Since 1851 • A cult like brand that is owned by L’Oreal

10. Find the Brand Concept • Functional vs. Emotional Benefits • Brand Trust • Brand Associations • Brand Essence • What we are about • You can depend on us because we are • How the brand directly affects you • This is what will happen to you

11. Needs and Wants “Marketers profit because consumers buy what they want, not what they need….the path to profitable growth is in satisfying wants not needs” • Seth Godin, All Marketers are Liars (emphasis mine) • Needs are practical and objective • Wants are irrational and subjective

12. Brand Approaches • Heritage • Unique Brand Strengths • Forward thinking • The Standard • Provenance • Cutting Edge/Techie • Sophisticated • Original • Iconic Personalities • Down to Earth • Community • Company Values • Personal • Humor • Fun • We Understand • Attitude

13. Telling a Story • A Great Story….. • Is True (to someone) • Makes a promise (& delivers) • Is Trusted • Is Subtle • Happens fast • Appeal to our senses • Target a specific audience • Stay consistent • Agree with our worldview • Marketing works when.. • Worldview and frames got there before you (use them) • People only notice the new and then make a guess • First impressions starts the story • Tell stories we believe • Authenticity is key

14. The importance of Branding • Loyalty • Product differentiation • Brand Equity • Brand personality

15. The IMC Plan • Situation Analysis • The Audience • Segmentation • What do we want to accomplish? • Define Objectives • The Message: attributes  benefits • Positioning • Creative Strategy • How will we achieve this? • The tactics: be synergistic • The media: be realistic • The Budget: find ways to extend dollars • Evaluation: is it working? • Measure relevant variables • Adjust accordingly

16. Situation Analysis • SWOT Analysis • Brand Audit • Include competitive analysis

17. The Audience • Segmentation • Demographics • Psychographics • Targeting • Profitability • Best market for product

18. Objectives & Messaging • Objectives • Guided by Marketing Objectives • What the IMC plan will accomplish • Measurable • Messaging • Define your positioning • Attributes  Benefits • Target Market • Creative Strategy