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mktg304

mktg304

Description

School: University of Mississippi
Department: Marketing
Course: Account Planning
Professor: Sparks
Term: Fall 2016
Tags:
Cost: 50
Name: IMC304, Final Exam Study Guide
Description: This study guide covers this whole semester of material, guided by Prof. Sparks' study guide. I've included all of my class notes, notes from the PowerPoints, as well as notes from the guest speakers, case studies, and even our two textbooks from throughout the semester. I assure you, this is the only thing you'll need to study for this test!
Uploaded: 11/30/2016
15 Pages 8 Views 8 Unlocks
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IMC304


What is account planning?



FINAL EXAM STUDY GUIDE  

• Account Planning – the creation of a strategic plan of communication  within an organization (agency) to influence the people who write and design  communications to do so more efficiently; began in England

o The account planner (brand strategist) –

▪ Represents “the voice of the consumer” in an agency  

▪ Often want to experience the brand first-hand (like shown  in the Broccoli video)  

▪ Finds hidden consumer insights (like a detective) through  

thoughtful interviews, ethnographies, surveys, data mining, focus  groups, Inquiry Process, etc  

▪ Interprets insights and determines what the brand needs to say to  the consumers so that they will pay attention and ultimately so we  can change their behavior; determines the strategic idea  that the message will communicate through qualitative  research


What are the types of research?



▪ Aid in the overall marketing communications strategy (what we  need to say) and the creative work (how we need to say it)  

▪ Monitor the impacts and measure the results of their campaigns  o Account Planner Vs. Media Planner Vs. Connection Planner  ▪ Account Planner – inspires the creatives and is the voice of the  consumer, not the client; influences what the message will say;  deliverable: Creative Brief We also discuss several other topics like Did hayek support laissez faire?

▪ Media Planner – influences where and the message will be shown;  deliverable: Media Plan

▪ Connection Planner – influence consumers in their own  

environment; when advertising and brand experience comes to  you, instead of you going to them

• The Sweet Spot - the intersection between brand insight and  consumer insight within a cultural insight; keeps the communicator Don't forget about the age old question of econ111

IMC304

FINAL EXAM STUDY GUIDE  

relevant to consumers and helps break through the clutter to have their  message heard; good communication is a receiver-driven process  o If consumers don’t see something about the brand in themselves, they  aren’t persuaded by it. People don’t persuade people, people persuade  themselves.  


What is the definition of Perceptual Mapping?



We also discuss several other topics like multidimensional reactive substance closers

o The Got Milk Case – it was getting difficult to advertise for something  as boring as milk, so they found the insight that if people were deprived  of it (deprivation strategy) life just wouldn’t be the same  

• Types of Research –

o Primary research – new research that is carried out by the planner  and organization to answer specific questions  

▪ Tailored to your specific research needs  

▪ Allows the company greater control over methodology, time frame,  respondents, etc  

▪ Gives proprietary information, which is an advantage  

▪ Allows the company to select the source (the population sample  from which you collect the data)  

o Secondary research – information gathered from sources such as  competitor reports, BDI, CDI, customer feedback forms, internet articles,  etc; effective because it is free and readily available, but ineffective  because can have source bias or can be generalized  

o Quantitative research – used to quantify a problem by generating  numerical data that can be transformed into statistics; typically collected  through objective questions on surveys or studies  

o Qualitative research – exploratory research; gathering of mainly  verbal data rather than measurements; gathered information is then  analyzed in an interpretative manner, subjective, impressionistic or even  diagnostic (words, images, behavior, or objects subjectively interpreted).

IMC304

FINAL EXAM STUDY GUIDE  

• Positioning – a marketing communication strategy to determine the  space a brand can occupy in the mind of consumers/customers relative to  competing products  

o Positioning is meant to create an image of the brand in the  consumers mind, whether it is inexpensive/premium,  Don't forget about the age old question of hojjatallah ghandi

utilitarian/luxurious, entry-level/high-end, etc.  

o Positioning includes impressions, interpretations, as well as marketing  messages  

o How to determine your brand’s position:  

▪ Must establish the points of parity (POPs) and the points of  difference (PODs) to get a competitive advantage

• POPs – associations shared with other brands

• PODs – associations consumers link to a brand that they  

believe they can’t find from another competing brand  

o Key Components of Positioning –

▪ Aims to occupy a distinct white space on a perceptual map ▪ Emphasizes distinguishing features, benefits, attitudes, and  feelings of the brand, making it unique to the brand itself (USP:  Unique Selling Proposition) If you want to learn more check out lamassu material

▪ Relative to competing brands in a category

• Remember, that the category and the competitors are  

defined as consumers see them, not as the company/brand  

wants to be portrayed  

▪ Must be credible/believable (don’t falsely advertise just to get  ahead in the game…)

▪ Will remain in this position over time  

o Kmart’s Positioning Example:

▪ Determined that their target audience is a 30 year-old woman  seeking to own the latest trends in fashion and home items at a  value that fits your wallet

IMC304

FINAL EXAM STUDY GUIDE  

o Positioning Tools to Organize Insights:

▪ Perceptual Mapping – graph of how various brands are  perceived by customers among attributes, benefits, values, or a  combination of variables; often displayed on a graph with 4  quadrants; x and y-axes are labeled according to different  variables in a category (male/female, impulse shopper/planned  purchasing, young/old, etc.)

• Benefits of Perceptual Mapping –

o Assesses the strengths and weaknesses relative  to competing brands along certain criteria that is  If you want to learn more check out gesane

important to customers

o Identifies the competitive advantages for the  

brand as it shows differentiation among products in  

the consumer’s mind

o Points out marketing opportunities or displays  no market opportunity

▪ Potential marketing opportunities are displayed  

as white space

▪ Clusters of points represent Points of Parity  

(POPs), which means there are little to no  

marketing opportunities available

o Addresses market shift to retain or gain a competitive  

advantage (relating to the product’s life cycle)

• Types of Perceptual Maps –

o Attribute Maps – display characteristics  

o Benefit Maps – display the consequences of attributes

o Value Maps – displays a belief or meaning derived  

from the benefit

o Combination Maps

• Steps in creating a Perceptual Map –

IMC304

FINAL EXAM STUDY GUIDE  

1. Identify the set of competing brands

2. Identify important attributes through qualitative  

research

3. Conduct quantitative marketing research

4. Plot brands on a map

▪ Segmentation –

o Identifies commonalities among groups of people to  classify people and pinpoint insights

o Uses information to pinpoint WHO to talk to (What  do they like to do? How do they think? How do they  

feel?); note: different groups of people think and  

behave differently

o Divides and groups together similar characteristics or  attributes of a brand and potential audiences into  

distinct groups with distinct needs, characteristics, or  behavior

o Note: a disadvantage of segmentation is that they can  be stereotypical, biased, or belong to multiple  classifications

• How to Segment the market –

o Demographics – groups potential customers  

according to age, race, religion, gender, family size,  

ethnicity, income, and education; the most popular,  

but most risky method of segmentation

o Geographics – groups people according to where  they live

o Psychographics – groups people according to  

lifestyle, social class, etc; is personality-based

▪ i.e. Leo Burnett (Wilson Sporting Goods)  

determined that tennis players are grouped as  

follows: 30% beginners 25% socializers, 25%

IMC304

FINAL EXAM STUDY GUIDE  

competitors, and 20% pros; each group would  have a different sweet spot within the market  o Attitudes – groups people according to their  opinions  

▪ i.e. liberals vs. conservatives; environmentally  concerned vs. unconcerned  

o Behaviors – groups people according to their past  buying patterns

▪ i.e. frequent vs. heavy users; loyal customers vs.  discoverers  

o Brand Benefits – groups people by the benefits the  brand gives to them

▪ i.e. toothpaste – whitening, sensitivity, cavity fighting, fresh breath, just for kids, organic, etc o Cultural Backgrounds

o Generations – groups people according to when they  were born; during each time period, or as a result of  the previous period, significant events occurred and  shaped the way each generation acts and behaves  

▪ Matures/Silent Generation – typically  experienced; 1909-1945; value security,  

comfort, familiar activities and environments

▪ Baby Boomers – typically optimistic; 1946- 1964; attracted to associations, charities, and  non-profit organizations

▪ Generation X – typically cynical; 1965-1979;  value independence, are less loyal to employers,  and favor a good work-life balance

▪ Millenials/Generation Y – typically ambitious;  1980-2000; value life enhancement,  

entertainment, giving feedback

IMC304

FINAL EXAM STUDY GUIDE  

▪ iGen – typically connected; 2001-present; value  positive reinforcement, technology, feeling  

“special”

o VALs (Values and Lifestyles  

Segmentation) – predicts behaviors by  concentrating on self-orientation and resources

• Innovators – usually sophisticated,  

curious, in charge  

• Thinkers – informed, reflective, content  

• Believers – literal, loyal, moralistic  

• Achievers – self-focused, conventional,  

status-seeking

IMC304

FINAL EXAM STUDY GUIDE  

• Strivers – insecure, imitative,  

undisciplined  

• Experiencers – trend setting, impulsive,  

variety-seeking  

• Makers – responsible, practical, self

sufficient  

• Survivors – nostalgic, cautious, trusting  

• i.e. Car companies –

o Volvo – safety conscious –

“Volvo for Life”

o BMW – achievers – “The  

Ultimate Driving Machine”

o Chevy – belongers – “The  

Heartbeat of America”

▪ Hypothesis Testing – making sure, through interviews, focus  groups, etc, that the insight you have selected is truly a key  

differentiating insight

• Creative Briefs and Creative Briefing  

o The Process: Insights ???? Unifying Idea ???? Campaign Ideas  ▪ Insights – figure out what key pieces of data from the research will  present a new/innovative idea to the market about the brand  

▪ Unifying Idea (SMP) – defining the engine that will drive growth;  derived from an insight; must be realistic  

• Writing the Unifying Idea (SMP)–

o Find the intersection of consumer, brand, and  

insight

o Make it relevant, differentiating, and true – tell  

the truth in a surprising way!

o Is driven by one single idea

o Is different than the tagline

IMC304

FINAL EXAM STUDY GUIDE  

▪ Campaign Ideas – deciding how the campaign will look to the  consumer; how and where to execute the communication; must  be noticed, must empathize with the consumer, must be  on the leading edge of change

o Creative Briefs within an Agency –

▪ It is the account planner’s job to clarify to the designers,  copywriters, developers, and the client about the strategy,  communication target, and the one function of the campaign;  typically short, 1 page long due to the specificity of the data  presented (clear, simple, interesting)

▪ They also must inspire the creative team to come up with the  most brilliant and effective communications that address an  opportunity or resolve a problem.

o Briefing – after planners brief the creative team, the team is  challenged to actually create an innovative/moving/surprising image of  the concept that the planner briefed to them; they basically have to  untangle all the ideas to decide the one thing that will tell your audience  why they need the brand your client is offering  

▪ The Briefing Process:  

• Define the challenge – stating objectives, desired outcomes;  using interesting information to frame the challenge; write a  short description of the big picture  

• Create a Persona – know everything about your audience  that may be influenced by your brand  

o Finding your communication target – planners  

want to know EXACTLY who their target is by listing  

their:

▪ Motivations

▪ Characteristics

▪ Actions

IMC304

FINAL EXAM STUDY GUIDE  

▪ Issues

▪ Activities

▪ Rituals

▪ Preferred media

▪ Loves and Hates

▪ Cultural views

• Inject Insights into your Writing – select the most profound  insight about your target about why they behave like they do  or why they have a certain attitude about something; make  them think, “hmm, I thought I was the only one who felt like  that!”

• Define the Creative Strategy – influenced by the  

unifying single idea, the points of difference  

between that brand and its competitors, and the  

single most compelling thing there is to say

• Define the Reasons to Believe/Support the Message – why  and how does this strategy support the insights, persona,  and one idea?; keep it simple and the language persuasive

• Define the Intended Response – what do you want the  customers to think or feel as a result of the communication? • Define the Voice – how do you want to be heard? Will the  communication portray a specific tone?  

• Define the Media – where will the message appear, and are  we sure the message will be reaching the target audience? • Things to Avoid when Briefing – avoid the urge to write  everything you know about the product or  

brand…we’re looking for simple specific!

o After the Briefing –

▪ Account planners must make sure the creative brief is on  track with all of the various objectives

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FINAL EXAM STUDY GUIDE  

▪ They must perform concept tests through focus  

groups/interviews

▪ They must get the client’s approval

▪ They must measure the effectiveness/response of the  communication in the marketplace  

o Examples of companies that made the right connection:  

▪ Unilever’s Persil –

• Insight – moms see a positive association between children  and dirt, like it was a learning experience  

• SMP (Single Unifying Principle) – Persil will take care of the  dirt, so go ahead and let your kids play in the dirt; Persil has  

moms’ backs  

▪ Always Feminine Products –

• Insight – there’s an underlying stereotype in society that  

girls are weak (“you run like a girl”)

• SMP – the Always brand is redefining what it means to do  

something “like a girl”

▪ Ikea Furniture –

• Insight – people feel tied down by their furniture, because  

they’d feel bad for throwing it out

• SMP – why hang on to your furniture? This year’s model is  

better.  

▪ HBO Go –

• Insight – watching tv with your parents can be  

embarrassing; parents choose awkward moments to “talk”;  

you can watch HBO Go on your own devices to avoid all the  

awkwardness

• SMP – never have to watch tv with your parents ever again! • Media Planning – the process of deciding where and when is the  best time to reach the target audience, which takes research, testing,

IMC304

FINAL EXAM STUDY GUIDE  

and sometimes even imagination; communicated through a flowchart that  defines specific times and places to show the communication  o Media (plural for Medium) – a broad category of carriers to deliver a message to a target audience; tv, newspapers, magazines, radio,  outdoors, internet, etc

o Media Vehicle – a specific medium where your message is placed;  People magazine, NBC, etc

o Media Plan – the spreadsheet flowchart that communicates  where and when the message will be shown, summarizing the  objectives and guiding how and where money will be spent;  created by the media agency to find the most effective platforms to  communicate a client’s brand in a way that achieves marketing  objectives  

o Roles of Media for a brand/company –

▪ Paid Media – advertising that is placed and bought directly by  the marketer; most often applied to media planning; on tv, in a  newspaper, on a website, etc

▪ Earned Media – communication about a brand that is not  managed by the marketer; by word of mouth, through  

customer reviews, through news coverage, etc

▪ Owned Media – branded communication that makes a direct  connection between the brand and the consumer; through  coupons, in emails, through brand packaging, etc  

▪ Media Objectives/Considerations –

• REACH - % of the target audience that should be exposed  to an advertising message at least once during specified  

period, usually 4 weeks.

• FREQUENCY - How frequently should audience be exposed  to message during this period  

o Ostrow Model – helps media planners in determining  

optimal effectiveness of frequency

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FINAL EXAM STUDY GUIDE  

• WEIGHT - How much total advertising volume is needed to  accomplish reach and frequency objectives –Rating: % of  the target audience presumed to be exposed to a single  occurrence of a message placed in a particular vehicle.

• CONTINUITY - How should the advertising budget be  allocated over time  

• RECENCY - How close to the time of purchase should the  target audience be exposed to the advertising message  • COST - What is the most economically justifiable way to  accomplish objectives

▪ Scheduling – determining when and how many times the creative  will run in a calendar period

• 3 classic scheduling models:

o Continuity – primarily for non-seasonal  

products; runs steadily in intervals with little  variation over the campaign period

▪ Advantages: works as a reminder, covers entire  

purchase cycle, cost efficiencies in the form of  

large media discounts

o Flighting – for seasonal product categories;  involves intermittent and irregular periods of  advertising

▪ Advantages: little waste due to the concentration  

of ads in a purchasing cycle, series of  

commercials appear as a unified campaign on  

different media vehicles

o Pulsing – a combination of continuity  

scheduling and flighting scheduling by using a  low ad level year round, with a higher  

concentration during peak selling periods

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FINAL EXAM STUDY GUIDE  

▪ Advantages: covers different market situations,  

possible advantages from both continuity and  

flighting  

o Creating the Media Plan –

▪ Audience Analysis – who do you want to reach?; define the  audience in terms of demographics, psychographics, generation  segments, media habits, brand usage, etc

▪ Market Analysis – where do you want the media to appear?;  national, regional, local, BDI, and CDI

• BDI – Brand Development Index

o an index compared to overall brand sales.  

o BDI = (% Market Brand Sales / % Market  

Population) x 100

o How the brand is performing in comparison to  

the market share

• CDI - Category Development Index

o An index compared to overall category sales

o CDI = (% Market Category Sales / % Market  

Population) x 100

o How the category is performing in comparison  

to the market share  

o GRPs (Gross Rating Points) – REACH x FREQUENCY; expressed as  whole numbers but are actually percentages (1 GRP = 1%, 100 GRPs =  100%)

▪ i.e. if you advertise to 30% of the market, and give them 4  exposures to the communication, you have 120 GRPs.  

o Impressions - single potential exposure of a member of the target  audience to your ad message; an expression of the number of  pairs of eyeballs--or in the case of radio, ears--that will be  exposed to the media vehicle; represent numbers of people instead  of percentages

IMC304

FINAL EXAM STUDY GUIDE  

▪ Media Planners give the plan to the Media Buyers to negotiate  pricing according to CPM

• CPM – Cost per Thousand (not sure why..), which is the  cost the media buyer is willing to pay per targeted  

impression; COST ($) / IMPRESSIONS (# of people) =  

CPM

• Connection Planning – connection planning is the use of media that  goes where people are, not where media is typically found; makes people  participate

• Guest Speakers –

o Benjamin Bailey – talked about the driving force behind the Martini  campaign with the insight that “interesting things can happen when you  break free to follow your heart’s desire”

o Shea Gabrielleschi – worked with the CrimeStoppers Foundation of  the elderly (or something) who worked with the banks; their business  excelled when they redesigned and repositioned their brand within the  market

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