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Marketing Plan

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The plan that directs the company's marketing effort. First, it assembles all the pertinent facts about the organization, the markets it serves, and its products, services, customers, and competition. Second, it forces the functional managers within the company to work together—product development, production, selling, advertising, credit, transportation—to focus efficiently on the customer. Third, it sets goals and objectives to be attained within specified periods of time and lays out the precise strategies that will be used to achieve them.

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Mission Statement

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is a short description of the organization's purpose and philosophy. Starting the plan with a mission statement helps remind planners and marketing partners about what the organization is and what it stands for.

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Situation Analysis

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A factual statement of the organization's current situation and how it got there. It includes relevant facts about the company's history, growth, products and services, sales volume, share of market, competitive status, market served, distribution system, past advertising programs, results of market research studies, company capabilities, and strengths and weaknesses.

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SWOT Analysis

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An acronym for internal strengths and weaknesses and external opportunities and threats, which represent the four categories used by advertising managers when reviewing a marketing plan. The SWOT analysis briefly restates the company's current situation, reviews the target market segments, itemizes the long- and short-term marketing objectives, and cites decisions regarding market positioning and the marketing mix.

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Marketing Objectives

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Goals of the marketing effort that may be expressed in terms of the needs of specific target markets and specific sales objectives.

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Sales-Target Objectives

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Marketing objectives that relate to a company's sales. They should be specific as to product and market, quantified as to time and amount, and realistic. They may be expressed in terms of total sales volume; sales by product, market segment, or customer type; market share; growth rate of sales volume; or gross profit.

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Communication Objectives

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are outcomes that can reasonably be associated with promotional activities, such as increases in brand recognition or awareness, increased comprehension of a brand's attributes or benefits, more positive attitudes about a brand or a more favorable image of the brand or its typical user, and stronger intentions to try or buy a brand.

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DAGMAR

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The acronym stands for defining advertising goals for measured advertising results. DAGMAR is a planning tool for setting communications abjectives for a campaign. formulate objectives related to one of four outcomes: awareness (knowing the brand exists), comprehension (knowing about the brand's benefits or attributes), conviction (a favorable attitude toward the brand), and action (purchasing and using the brand).

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Marketing Strategy

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The statement of how the company is going to accomplish its marketing objectives. The strategy is the total directional thrust of the company, that is, the how-to of the marketing plan, and is determined by the particular blend of the marketing mix elements (the 4 Ps), which the company can control.

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David Olgilvy

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said one of the first decisions in marketing is also the most important: how to position the product. Positioning, which we introduced in Chapter 1, refers to the place a brand occupies competitively in the minds of consumers. Every product has some position—whether intended or not—even if the position is "nowhere." Positions are based on consumer beliefs, which may or may not reflect reality. Strong brands have a clear, often unique position in the target market.

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Tactics

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The precise details of a company's marketing strategy that determine the specific short-term actions that will be used to achieve its marketing objectives.

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bottom-up marketing

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The opposite of standard, top-down marketing planning, bottom-up marketing focuses on one specific tactic and develops it into an overall strategy.

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Subliminal Advertising

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Advertisements with messages (often sexual) supposedly embedded in illustrations just below the threshold of perception.

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IMC Plan

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The written document that directs the company's advertising effort. A natural outgrowth of the marketing plan, it analyzes the situation, sets advertising objectives, and lays out a specific strategy from which ads and campaigns are created.

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IMC Pyramid

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1. Awareness- to acquaint people with the company, product, service, and brand. 2.comprehension- to communicate enough information about the product so that some percentage of the aware group recognizes the product's purpose, image, or position, and perhaps some of its features. 3.conviction-to persuade a certain number of people to actually believe in the product's value 4. Desire the product 5. Action They may request additional information, send in a coupon, visit a store, or actually buy the product.

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IMC Strategy

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The methodology advertisers use to achieve their advertising objectives. The strategy is determined by the particular creative mix of advertising elements the advertiser selects, namely: target audience; product concept; communications media; and advertising message. Also called the creative mix.

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Creative Mix

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Those advertising elements the company controls to achieve its advertising objectives, including the target audience, the product concept, the communications media, and the advertising message. See also advertising strategy.

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Target Audience

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The specific group of individuals to whom the advertising message is directed.

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Product Concept

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The consumer's perception of a product as a "bundle" of utilitarian and symbolic values that satisfy functional, social, psychological, and other wants and needs. Also, as an element of the creative mix used by advertisers to develop advertising strategy, it is the bundle of product values the advertiser presents to the consumer.

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Communications Media

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An element of the creative mix, comprising the various methods or vehicles that will be used to transmit the advertiser's message.

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IMC Message

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An element of the creative mix comprising what the company plans to say in its advertisements and how it plans to say it—verbally or nonverbally.

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In terms of bottom-up marketing, a _____ refers to a specific action for helping to accomplish a marketing strategy.

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tactic

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A(n) _____ refers to a short description of an organization's purpose and philosophy.

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mission statement

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As an element of creative strategy, the _____ are all the vehicles that might transmit the marketer's message.

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communications media

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Which of the following refers to sales-target objectives?

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They are goals related to increasing or maintaining sales volume and market share.

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The _____ method of developing an IMC budget has three steps: defining objectives, determining strategy, and estimating costs.

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budget buildup

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_____ refer(s) to the place a brand occupies competitively in the minds of consumers.

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positioning

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A(n) _____ is a document that serves as a guide for the present and future marketing activities of an organization.

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marketing plan

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The "bundle of values" the advertiser presents to the consumer is referred to as the _____.

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product concept

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According to the IMC pyramid, comprehension involves:

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communicating enough information about a product so that some aware consumers recognize its purpose, image, or position.

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