Download Promotions Opportunity Analysis I

Promotions Opportunity
Analysis I
Introduction and Discussion – A
Generic Approach
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics
A Promotions Opportunity
Analysis - definition
♦ This is the process of identifying target
audience(s) for the offering. This must be
embarked upon for both internal or global
markets.
♦ To be successful in the promotions opportunity
analysis, the marketer must ensure that the
appropriate decisions about resources (firm’s
environmental assessment) and target
audience’s needs/wants/aspirations are well
understood/appreciated.
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics
Two key objectives for promotions
opportunity analysis
♦Determine which promotional
opportunities exist for the firm,
and
♦Identify the characteristics of
each target audience (that is
commensurate/appropriate with firm
aim/objective(s)).
♦ The key issue is to “cut your coat according to your size”.
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics
Five steps in developing a promotions
opportunity analysis
♦ 1. First step: Conduct a communication
market analysis.
♦ This is the process of identifying the firm’s SWOT (relating to
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marketing communication).
There are five components in the communication market analysis:
(a) competitive analysis
(b) opportunity analysis
(c) target audience/market analysis
(d) positioning analysis.
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics
Second step: Establish marketing
communications objectives
♦ The objectives are the key reminders/building blocks of
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what the firm is hoping to achieve with its marketing
communications efforts. They may include the
following:
(a) to develop brand awareness
(b) to increase demand/sales for offering
(c) to change customer attitudes/perceptions about the
offering/firm
(d) to encourage repeat purchase
(e) to enhance/improve firm/offering image
(f) to become highly competitive (“beat”/cope with
competition).
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics
Third step: Establish a
communications budget
♦ The percentage of sales method
♦ The meet-the-competition method
♦ The “what we can afford” method
♦ The objective and task method.
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics
Fourth step: Prepare promotional
strategies
♦ The strategies are the long term directions to be
undertaken/pursued by the firm (with regards to
marketing activities). Example, to employ “services”,
“price/quality”, “country-of-origin”, the “brand name”
to achieve “our objectives”.
♦ Fifth step: Match your tactics with your strategies
♦ Tactics are considered to be short term in nature (i.e., day-to-day
activities) geared toward supporting/matching the strategies
outlined already. These may include issues about specific themes to
be incorporated into an ad/promotion, personal selling
inducements, special sales promotions – posters, point-of-purchase
displays etc.
♦ Items in tactical methods may include: coupons, gift certificates,
purchase bonuses, special gifts, rebates, discounts – “buy one get
one free” etc. etc.
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics
STP Marketing
♦ According to Kotler (2002), STP marketing
is the basis/foundation of modern marketing
management.
♦ S: segmentation
♦ T: targeting
♦ P: positioning
♦ The three are inextricably linked together.
Charles Blankson, Ph.D. UNT,
Department of Marketing & Logistics