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This 3 page Class Notes was uploaded by Natalie Land on Wednesday January 13, 2016. The Class Notes belongs to STC 200 at University of Miami taught by Jasper Nelissen in Fall 2015. Since its upload, it has received 42 views. For similar materials see Advertising Strategy Development in Strategic Communication at University of Miami.
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Date Created: 01/13/16
Account Planning January 14, 2016 • Account planning: strategists, inside managers, strategic planners o Advertising has to be noticed so that it works in order to do this, advertising has to empathize with consumer, and has to be in touch with social change • Account planner: member of team who is expert at working with information and getting it used to help solve clients advertising problems o Link between business situation and what consumers care about to influence the buy • SAATCHI and SAATCHI o Through feeling and emotion to inspire people to action • benefit of an empty head: o five percent we know as advertising, then fifteen percent of things we know we don’t know such as focus groups but then there is fifty 80 percent of thinks we don’t know we don’t know: qualitative research • good planners are o left brain and right brain thinkers § rational and emotional o pain in the ass: ask a lot of questions o have an opinion and not afraid to argue for whats true and good storyteller • how we learn o interrogate brand and category, understand culture, have real conversations, listen and share experiences, find a way to find out things you don’t know you don’t know • Case Study: JCpenney o No one says this brand, brands we don’t identify with o We know it o Needs help, its been bad lately o Old company: Wyoming § It was called the golden rule § Now its headquartered in texas o 1100 stores in the US and Puerto Rico o usually an anchor store: corner of the mall o sell back to school, clothing, leased department: ie: Sephora, jewelry repair o JCPENNEY 1983 ads § Back then more professional than now § Emphasis on USA, not much now § Haven’t changed much there ads § Most important message in there ads: all about discounting o JCPENNEY early 2000 § Not much changes but in 2005 new chief marketing officer is assigned so big changes occur • Changes in perception of people: play upon emotions nothing about deals anymore o Company starts to do bad because of confusion: they fire ceo and bring in Ron Johnson: inventor of genius bar § He brings in fair and square and back to golden rule § Let people shop on their terms, no more coupons, no more 9.99 § Yearly calendar switches to monthly calendar § New brands § Results: DISASTER: no one believed in JCP anymore • Employees hated working there because of the changes • People loved JCP for its coupons and discounts o JCP as lifestyle brand instead of coupon brand went really bad o What did they do? § Brought in old CEO § First they apologized didn’t really work it souned desperate o Now they are better: good 2014 holiday season performance, store remodeling for 2016 Strategy Basics January 16, 2016 • To work advertising has to be noticed and emphasize with consumer o Works if you go into world of feeling • Strategy: great work of organization • Michael porters view: broad formula for how business is going to compete, its goals, means seeking to get their, setting a goal and how will we get there • Minzbergs five definitions o Strategy as a plan: course of action to achieve intended set of goals o Strategy as a pattern: pattern of past behavior o As position: by factors outside the firm, using advertising mark as the strategy: idea of: coca cola o As play: out with a competitor, dependent on relationship with competitor o Perspective: think of world, view, idea, “theory of business” o Help clients: reach objective • Strategy: consistency of direction based on: understanding of the game, how you can maneuver your company, what are you really good at o Puts you in a better position to win • Porter’s generic Strategies o Target: what are you trying to achieve o Advantage: what are you really good at? o Area of focus: focus on one segment of the market o Differentiation: industry wide: people recognizing what you do as a company as different o Cost: industry wide: we do it cheaper • What makes strategy successful? o Goals are simple and consistent, long term: not one month, etc etc o Consistent all over the place is hard to reach goals o Understand competitors: • The firm: o Goals, resources, structure • The environment o Competitors Role of Marketing January 20, 2016 • Recap o Help clients achieve objectives o Strategy: how organization will achieve its goals • Marketing and advertising o Advertising problems come from business proble, but business problem don’t always come from advertising problems • Advertising o Our job is to help client grow, geographicaly, money, and values o Start up company: very hot in Miami • Challenges you face as a company o Startup: getting brand out there, people know you o Scaling up: how do I reach more people o maturity: how do I keep differentiating myself o decline: reverse knowledge of my company § advertising can do the biggest job here • know what people care about intimately • how do we help what business are we trying to help? o Production concept: quantity § Ie company producing bricks not branded but making a lot and at a cheap cost o Product concept: product itself: making it the best quality etc o Selling: to provide heavy discounts worth your while § Utility companies: xfinity etc o Marketing concept: focus primarly on the consumer needs and wants, relationship etc o Holistic: everything matters