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MD_11F_4040_W2_0901_Setting_Objective_and_Consumer_Behavior

MD_11F_4040_W2_0901_Setting_Objective_and_Consumer_Behavior...

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+ MC 4040 ADVERTISING PROBLEMS Setting Objectives and Consumer Behavior 09/01/11 Copyright © 2011 Yongick Jeong
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+ Today’s Agenda Setting Objectives Objectives Practice Consumer Behavior Decision-Making Process Mini Campaign Guideline Review
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+ Setting Objectives
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+ Criteria of Good Objectives State exactly what is to be achieved. Be capable of measurement – so that it is possible to determine whether (or how far) it has been achieved Be realistic given the circumstances in which it is set and the resources available to the business. Set with a time-frame in mind. These deadlines also need to be realistic.
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+ Marketing Objectives What is the business trying to achieve? Should address Some call this a corporate objective Concern the business or organization as a whole E.g., to achieve a return on investment of at least 15% E.g., to achieve an operating profit of over $10 million on sales of at least $100 million
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+ Marketing Objectives Specific objectives for marketing activities E.g., to build customer database of at least 250,000 households within the next 12 months E.g., to achieve a market share of 10%
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+ Advertising Objectives Advertising objectives are the communication tasks to be accomplished with specific customers that a company is trying to reach during a particular time frame. Advertising is one part of the promotional mix (which is one of FOUR Ps), and therefore advertising objectives will be set in line with overall Promotional and Marketing Objectives.
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+ Types of Advertising Objectives Attempt to tell consumers about the product, explain how the product works, provide information on pricing, and build awareness of both the product and the company. These objectives are normally pursued
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+ Types of Advertising Objectives Encourage the target audience to switch brands, make the purchase, and create a preference in the market for the product as opposed to its competition. Advertising of this nature is required ______________________, where a range of products compete directly with each other.
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+ Types of Advertising Objectives Attempt to maintain interest and awareness of a well established product in the market, It is often used at the Point-of-Purchase (POP) to remind consumers of the brand.
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+ Media Objectives Media objectives fit in with the goals set in brand’s marketing objective Translating marketing requirements into actionable media objectives Defining a media solution by formulating media strategies
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