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Marketing Stategy & Plans
Line Extension |
adding additional product to an existing product/brand line |
Category Extension |
creating a new product line w/ the existing brand |
Adv. of Brand Extensions |
- improve brand image
- reduce risk perceived by customers if new product is a brand (they know)
- increase chances of gaining distribution & trial
- avoid costs of developing a new brand
- permits consumer variety seeking
- packaging & labeling efficiencies |
Disadv. of Brand extensions |
- many varieties confuse & frustrate consumers
- some retail resistance to too many skus
- cannibalization issues
- dilute brand image |
Speed to Market |
Importance of speed
- PTO
- patent process |
Options for a manager |
product modification
maket modification
repositioning |
Marketing Plan |
outlines the company's mktg goals, timing, & resources needed to achieve those goals.
Discusses current mktg position of the business
Sets that company on a specific path in mktg, align & aware employees of the plans
Typically once a yr |
New Product Strategy: Business Model Canva
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Creative Brief (includes) 1. job description
2. target audience
3. objectives
4. single minded proposition
5. sustantiation
6. key response
7. desired brand character
8. mandatory inclusions
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Campaign Management
Benefits of scheduling |
use of optimum times
update announcements |
Pros & Cons |
Pros:easy & convenient
Cons:lose spontaneity aspect
not part of the conversation |
Social Listening |
brands listening to conversations taking place online & looking for opportunities to participate & engage customers/prospects |
Steps in social listening |
1. identify specific words & phrases
2. Identify key influencers
3. |
Conversational listening |
Can be used for customer service, monitoring competitors |
Influencer listening |
1. follow & gain insight
2. create opportunities
3. actively participate (create links) |
Online Branding Strategy w/ Hootsuite
Hootsuite |
helps monitor keywords, manage multiple Twitter, Facebook, LinkedIn, Foursquare and WordPress profiles & more |
Hootsuite Functions |
Keyword streams | LinkedIn job search streams | Campaigns |
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The Customer Journey
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Customer Journey mapping the customer journey to create consistently positive end-to-end experiences for them
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Concerns for the customer journey amount of time needed to map all steps
Companies using CX | Kohls, JCPenny & AT&T
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Steps for CX 1. Assemble
2. Share the Vision
3. Plan
4. Map
5. Validate
6. Improve
7. Aim high
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Encouraging Engagement
Engagement |
clicks | stay on | comments | shares | convos | performing intended action |
uses of social media |
- can be used to highlight employees
- create events |
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