Develop an advertising plan
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Develop An Advertising Plan. Chapter 4. Purpose of an Advertising Plan:. Advertising Plan : Describes the thinking and tasks needed to achieve a successful advertising campaign that fits into the advertiser’s marketing strategy.

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Purpose of an Advertising Plan:

Advertising Plan: Describes the thinking and tasks needed to achieve a successful advertising campaign that fits into the advertiser’s marketing strategy.

  • All decisions made during the creation of an advertising campaign must fit into the advertising plan.


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Components of an Advertising Plan

  • Introduction

  • Situational Analysis

  • Objectives

  • Budget

  • Strategy

  • Execution Methods

  • Evaluation


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Introduction

Presents an executivesummaryand overview of the entire plan.

  • Executive Summary: Summarizes the most important parts of the advertising plan.

    • Similar to a summary of an entire book.

    • Can be two paragraphs to two pages in length.

  • Overview: Summarizes important information in each section of the document.

    • Similar to a summary of each chapter in a book.


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Situational Analysis

Describes the factors that influence the advertising plan.

  • Reviews the company and product history.

  • Evaluates the product’s strengths and weaknesses.

  • Defines the target market.

  • Evaluates the competition.


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Objectives

Describes the goals that the advertising should accomplish.

Sample goals/objectives:

1. Increase consumer awareness of brand.

2. Change consumer attitudes about the product.

3. Promote replacement of outdated products with new products using new technology.

4. Persuade consumer to try a sample of product.

5. Convert occasional user of product to regular user.

6. Persuade consumers to switch from a competitor’s product.

7. Increase sales.


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Objectives

An objective must be clearly stated and include criteria to measure the success of the campaign.

Example: Based on surveys completed at the conclusion of the three week advertising campaign, McKnight Advertising Agency will increase brand recognition from 50% to 55%.


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Budget

Identifies the amount of money that will be spent on advertising and the method used to calculate the amount.

Budget methods:

  • Affordable Method

  • Historical Method

  • Percent of Sales Method

  • Share-of-Voice Method

  • Objective and Task Method


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Affordable Method

The advertiser spends what it thinks it can afford.

  • Commonly used by small, inexperienced businesses.

    Disadvantages:

  • Poor method of setting a budget because the advertiser doesn’t know if it is spending too much or too little.


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Historical Method

The amount of the current budget is based on the amount the advertiser was able to afford the previous year.

Ex. (Last year’s budget) x (Inflation) =Current Budget

Disadvantages:

  • Generally not recommended because the budget does not take into account changes made to the business since last year (i.e. competition).

  • New businesses cannot use this method


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Percentage of Sales Method

Amount of current budget is based on % of last years sales or anticipated sales.

  • Commonly used by large companies.

  • Higher % of budget is used on new products

    • It costs more to build a consumer’s awareness of a new product. (10%-35%)

      Disadvantages

  • Could lead to overspending on budget or decrease in advertising due to low sales.


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Share-of-Voice Method

Based on the idea that if you spend more than your competition consumer’s will be more aware of your product than your competitor’s.

  • Many companies use this method.

    Disadvantages:

  • Your competitor’s spending information may be impossible to obtain.

  • The same amount of money will not automatically create a campaign of the same quality.

  • Your competitor may have a different objective, requiring a different budget.


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Objective and Task

The only method that uses the relationship between what you want to accomplish and what you want to spend.

  • Objectives must be specific and clear.

  • Costs are based on the level of the objective (or task) you want to accomplish.

    Disadvantages:

  • Obtaining each level of your objectives will require a different spending level.


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Strategy

Identifies how the advertising plan objectives will be accomplished.

Involves:

  • Identifying the target market

  • Selecting a positioning strategy

  • Choosing the type of advertisement


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Positioning

The process of making an advertiser’s product different from other products in the consumer’s mind.

  • Benefit positioning: Selects a single benefit that users might believe is important.

  • User positioning: Demonstrates how the product will fit into consumer’s lifestyle.

  • Competitive positioning: Focuses on the differences between your product and other similar products


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Choose the Type of Advertising

  • Brand Advertising

  • Informative Advertising

  • Comparative Advertising

  • Defensive Advertising

  • Persuasive Advertising


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Execution

Identifies where,when, and how the ad will be placed in the appropriate media.


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Evaluation

Describes the tests and criteria that will determine the success or failure of the advertising campaign.

Return on Investment: The amount you earn from the money you spend.



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Hierarchy of Change

Change Purchase Behavior

Believe Product Claims

Awareness and Recall

Change Attitude

Brand Preference


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Evaluation Measurement Tools

  • Awareness and Recall Testing

    • Unaided recall: “Do you remember any commercials you saw on T.V. last night?”

    • Aided recall: “Tell me what you think of when you hear the work ‘Nike.’”

  • Mall Intercept Method

  • Mail Questionnaires

  • Telephone Surveys

  • Consumer Panels

  • Tracking Studies


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