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8 The Advertising Plan Objectives 1. Ad Plan Components 2. Setting Ad Objectives 3. Ad Budgeting (%, SOV, O&T) Advertising Plan in Context Marketing Plan Ad Plan Specifies thinking & tasks needed to conceive & implement an effective advertising effort Advertising Plan Components Introduction Situation Analysis Objectives Budgeting Strategy Execution Evaluation Advertising Plan Components Introduction •Executive summary •Overview •Historical context Situation Analysis •Industry analysis •Market analysis •Competitor Analysis Historical context is an important consideration in developing an advertising plan for a brand. Advertising Plan: Objectives • To create or maintain brand awareness. • To change consumer beliefs or attitudes. • To influence purchase intent. • To stimulate trial use. • To convert one-time users into repeat purchasers.. • To encourage brand switching. Sales vs. Communication Objectives Advertising = Sales? Advertising = Communication? Effective Communication = Sales? Focusing on communications objectives allows advertisers to consider a broad range of strategies. Building brand loyalty can take years. Advertising Plan Components Characteristics of Workable Objectives •Quantitative benchmarks •Measurement methods •Criteria for success •Time frame Advertising Plan Components Budgeting Methods •Percentage of sales •Share of market/voice •Response models •Objective & Task Implementing Objective & Task Budgeting Determine cost based on build-up analysis Compare costs against industry & corporate benchmarks •Production costs •Ancillary costs Reconcile & •Other promotion modify budget •Reach •Frequency •Time frame •Media Determine time Frame for payout Advertising Plan Components Strategy •Brand name recognition? •Repetition & frequency •Rhyming games •Trial Use Stimulation? •Introductory offers •Product guarantees •Brand Switching? •Value Propositions •Product comparisons Advertising Plan Components •Copy strategy Execution •Media plan •Integrated brand promotion •Criteria Evaluation •Methods •Consequences The Role of the Advertising Agency in Advertising Planning • Advertiser brings to the table an assessment of the brand’s value, the external environment, & opportunities & threats. •The advertising agency’s role is to the current marketing & market status of the brand into advertising objectives & strategies & ultimately into advertisements & IBP materials Teamwork is Key in Effective Execution Review/?s 1. Ad Plan Components 2. Setting Ad Objectives 3. Ad Budgeting (%, SOV, O&T)