Promotion P: a review

The Marketing Context of Advertising and Promotion

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)

Objectives

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

Promotion = Branding

• Advertising• Sales Promotions• Personal Selling• Public Relations• Alternative/Guerrilla Marketing

Follow a synergistic (integrated) strategy

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)

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

The Audience = Target Market

• Define your Segments– Geographic– Psychographic– Demographic– Behavioristic

• Select your Target Market(s)– Profits– Best suited

Know your audienceWhat are they really buying?

THIS THAT THE OTHER THING

Luxury Watch Quality Status

Cosmetics Enhanced Appearance Self-Esteem

Insurance Protection Security

House paint Durability Less work

Financial publication Investment advice Being an “insider”

Mouthwash Clean breath Social acceptance

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

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

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

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

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

The importance of Branding

• Loyalty• Product differentiation• Brand Equity• Brand personality

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

Situation Analysis

• SWOT Analysis• Brand Audit– Include competitive analysis

The Audience

• Segmentation– Demographics– Psychographics

• Targeting– Profitability– Best market for product

Objectives & Messaging

• Objectives– Guided by Marketing Objectives– What the IMC plan will accomplish– Measurable

• Messaging– Define your positioning– Attributes Benefits– Target Market– Creative Strategy