What do you want? Establishing IBP Objectives Chapter 5
The case for Objectives • Set the direction • Evaluate efforts • Separate from sales • Unless only factor • Infomercials, Direct Response • Keep on target (audience) • Establish benchmarks • Objectives will vary according to PLC
Steps to an IBP Plan • Situation Analysis • Target Market • Objectives • Message • Budget • Media Plan • Evaluation
What are objectives? • Clear • Concise • Specific • Measurable
How to phrase? • Basic message to be delivered • Audience (Target Market) • Intended effects • Criteria to measure
The SMARTT Method • Specific effect • Measurable • Achievable • Realistic • Targeted • Timed
Objective Categories • Knowledge based • Attention, awareness, interest • Feeling based • Attitudes • Brand identity • Associations • Action based • Sales oriented
Target Market Review • Write a Profile • Demographics AND Psychographics • Get a picture • Make sure it IS complete • Have it present at all times
Target Market Profile Sample Stacy Stiles is a 43-year old married female solo entrepreneur with a professional organizing business. She's fairly Internet-savvy and very business-savvy, having been a professional organizer for over 7 years. She invests about 50% of her profit back into her business and pays herself the remainder. She lives in a middle-class neighborhood in bedroom community outside Seattle with her 2 teenage children, Aiden and Emily, one dog, Isaboo, and her husband, David, who owns a landscaping business. She's involved in her children's education and activities, attending Aiden's basketball games and Emily's Junior ROTC drills. She works from her home office and makes approximately $85,000/year. She jogs 3 times a week to keep herself in shape for the 2 marathons she participates in each year. She loves to go antiquing and checking out the latest art festival in her community. Her big dream is to go to Greece with her husband.
The Message • Where your story comes in • Benefit to audience • Attributes Benefits • Can be physiological or psychological • “When I _____, I will _____.” • Examples?
Intended Effects • Category need • Brand awareness • Brand attitude • Brand purchase intention • Purchase facilitation
Intended Effects • What the promotional mix will accomplish • Facilitate movement of audience up the hierarchy • Can affect three variables • Awareness • Knowledge • Attitudes
Intended Effects:Hierarchy of Effects • Review Consumer Decision Making Process • The Basics: • Awareness • Knowledge • Liking (+/-) • Preference Attitudes • Conviction • Purchase
Sample Objectives • Increase unaided awareness of Zippies from 20% to 30% (Awareness) among target market, in general, etc. • Increase percentage of the target audience who believe Zippies contain “lowest levels of fat” of any brand in the category from 0 to 10% • Increase percentage of the target audience who strongly agree with the statement “Zippies are environmentally safe” from 15% to 30% (Attitude)
Measurement: How results will be measured • Refer back to research lecture • Needs a budget too • Pre and post campaign • Pre establishes a benchmark to measure against • Specify in the objectives or in a section following the objectives • MUST BE DEFINED PRIOR TO LAUNCH NOT AFTER