Strategic Planning

Strategic Planning

Strategic Planning

•    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

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

•           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

•           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

Basic Strategic Planning Decisions

•      Annual advertising or IMC plan

–    Outlines all the advertising or marketing communication activities

•      Campaign plan

–    More tightly focused on solving a particular marketing communication problem

Typical Plan Outline

•               Situation analysis

•               Key strategic decisions

•               Media strategy

•               Message strategy

•               Other tools

•               Evaluation of effectiveness

Basic Strategic Planning Decisions

•      Situation analysis

–    Researching and reviewing the current state of the business that is relevant to the brand and gathering all relevant information

–    After the research is compiled, analysis begins

•      SWOT analysis

–    Strengths

–    Weaknesses

–    Opportunities

–    Threats

•      Key problems and opportunities

Basic Strategic Planning Decisions

•      Objectives and strategies

–    Planners develop specific objectives to be accomplished during a specific time period

–    The main categories of effects can be used to identify the most common advertising and IMC strategies

•      It is important for advertisers to know what to expect from a campaign or an ad

•      Measurable objectives

–    Specific effect that can be measured

–    A time frame

–    A baseline

–    The goal

–    Percentage change

Basic Strategic Planning Decisions

•      Segmenting and targeting

–    Market segment: a group of consumers having similar characteristics

–    The segments the planner selects becomes the target audience

•      Getting deeper insight into consumers is the responsibility of the account planning function

Basic Strategic Planning Decisions

•      Positioning Strategy

–    Determining what place a product should occupy in a given market

–    To establish a location in the consumer’s mind based on what the product offers and how that compares with the competition

•      Product features

–    Feature analysis

•      Competitive advantage

–    Importance/performance

•      Differentiation

–    Branding

•      Locating the brand position

–    Perceptual mapping

Basic Strategic Planning Decisions

•      Budgeting

–    Determines how many targets and multiple campaign plans a company or brand can support and the length of time the campaign can run

•      Historical method

•      Objective-task method

•      Percentage-of-sales method

•      Competitive budgets

•      All you can afford

Account Planning: What is It?

•      Account planning

–    The research-and-analysis process used to gain knowledge and understanding of the consumer

Account Planning Elements

•           Consumer insight

–         Message strategy

–         Media strategy

Account Planning: What is It?

•      Account planner

–    A person in an agency who uses account planning to research a brand and its customer relationships in order to devise advertising message strategies that are effective in addressing consumer needs and wants

Account Planner Tasks

•           Understand brand

•           Understand audience relationship

•           Articulate strategies

•           Prepare creative briefs

•           Evaluate effectiveness

Account Planning: What is It?

•    The Research Foundation

•    Consumer Insight

•    The Communication Brief

•      Used in three phases of the advertising planning process

–    Strategy generation

–    Creative development

–    Campaign evaluation

Account Planning: What is It?

•    The Research Foundation

•    Consumer Insight

•    The Communication Brief

•      Intersects with the interests of the customer and the brand features

•      Insight mining

–    Realistic response objective?

–    Causes of nonresponse?

–    Barriers to desired response?

–    Motivation to respond?

–    Role of each element in the communication mix

Account Planning: What is It?

•    The Research Foundation

•    Consumer Insight

•    The Communication Brief

•      Explains the consumer insight and summarizes the basic strategy decisions

•      Six major parts:

–    Marketing objective

–    Product

–    Target audience

–    The promise and support

–    Brand personality

–    Strategy statement

Planning for IMC

•      Follows same basic outline as an ad plan

•      Objective is to make the most effective use of all marketing communication functions

•      Effective plans lead to profitable long-term brand relationships

•      Differences in IMC strategic decisions

–    Stakeholders

–    Contact points

–    IMC objectives

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