After studying this section, students should be able to do the following:
A marketing strategyThe activities a company must take to achieve its marketing objectives, including the Four Ps (product definition, pricing strategies, promotion strategy, place [distribution] strategies). consists of the activities a company must take to achieve its marketing objectives. For example, one step it must take is to decide on the appropriate mix of the Four Ps:
Creative strategyDescription of what the advertiser’s message will say and how it will say it. defines what the advertiser’s message will say and how it will say it. Being creative does not mean simply being clever or unique—the advertisement must communicate the intended message to the target audience.
Media strategyPlan that matches the potential customers of a product with users of specific media. matches the potential customers of a product with users of specific media. For example, a media strategy might attempt to find out if members of the target market prefer to watch TV, listen to the radio, or read magazines. It may also try to determine which TV programs, radio broadcasts, or magazines the target market prefers.
The media strategy must be well timed to ensure that ads are produced or commercials are filmed in time for their airing. Other important timing decisions include determining how long the advertising campaign will run and how many times to expose the audience to the ad during the product-purchase cycle.
Determine where you are with respect to the situation facing the company (internal analysis) by constructing a situation analysis, a brand audit, and a SWOT (strengths, weaknesses, opportunities, and threats) analysis.
Decide where you want to go (your desired positioning) by establishing advertising and marketing objectives that can be applied to your plans and strategies.
Create advertising and marketing strategies that provide direction to the creative team. The creative team is assembled to bring the product or service’s message to the target markets.