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October 27, 2021

MKTG5604

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PROMOTIONS + PRODUCT

Promotions Mini-Lecture | Project Breakout: Comms Planning | Break

Product Strategy Mini-Lecture

*** Comments in class ***

AGENDA

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EXTRA CREDIT

DUE BY DECEMBER 3, 2021CHECK COURSE SITE LATER TONIGHT FOR DETAILS

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GENERAL DISCUSSION

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Identify opportunities, threats, and challenges that will inform your strategy.

Articulate your strategy. Establish your plan.

Monitor Success.

WE’RE MOVING TO THE NEXT PHASE OF MARKETING STRATEGY DEVELOPMENT.

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Our learning goals center on the first steps of implementing our marketing strategy.

• Utilize a buyer persona to develop a customer journey map that informs communications

• Implement brand positioning through smart communication strategy - copy and channels

• Explain how different channels appeal to buyers at different stages in the buyer funnel

• Describe how firms determine product features to meet segment expectations.

• Apply product design concepts to project.

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STOP - START - CONTINUEA Mid-Semester Review

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SUMMARY RESULTS

STOP START CONTINUE

● If questions pertain to material that we will cover during the evening, wait to address (1)

● Using Meetups for guest speakers or other topics (1)

● Shared course site is confusing (2)

● No Sunday night class (1)

● Fewer breakouts; people don’t participate (2)

● More direction on the final project (1)● Utilize Canvas for course logistics and

details (1)● More class discussion (1)● Improve course site navigation (1)● Submit questions before class vs.

repeating answers during class (1)● Shorter presentations / report-outs

from class (1)

● Concept applications & breakout activities with project groups (1)

● Class structure is helpful, slides, break, group activity (2)

● More examples using popular brands (1)

● Prompts for class posts (1)

● Course content (1)

● Lectures / more lectures (2)

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CHANGE: DEDICATE MEETUPS & BREAKOUTS TO PROJECTS?

STOP START CONTINUE

● If questions pertain to material that we will cover during the evening, wait to address (1)

● Using Meetups for guest speakers or other topics (1)

● Shared course site is confusing (1)

● More direction on the final project (1)● Utilize Canvas for course logistics and

details (1)● More class discussion (1)

● Concept applications & breakout activities with project groups (1)

● Class structure is helpful, slides, break, group activity (1)

● More examples using popular brands (1)

● Prompts for class posts (1)

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SUMMARY RESULTS

STOP START CONTINUE

● If questions pertain to material that we will cover during the evening, wait to address (1)

● Using Meetups for guest speakers or other topics (1)

● Shared course site is confusing (2)

● No Sunday night class (1)

● Fewer breakouts; people don’t participate (2)

● More direction on the final project (1)● Utilize Canvas for course logistics and

details (1)● More class discussion (1)● Improve course site navigation (1)● Submit questions before class vs.

repeating answers during class (1)● Shorter presentations / report-outs

from class (1)

● Concept applications & breakout activities with project groups (1)

● Class structure is helpful, slides, break, group activity (2)

● More examples using popular brands (1)

● Prompts for class posts (1)

● Course content (1)

● Lectures / more lectures (2)

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SUMMARY RESULTS

STOP START CONTINUE

● If questions pertain to material that we will cover during the evening, wait to address (1)

● Using Meetups for guest speakers or other topics (1)

● Shared course site is confusing (2)

● No Sunday night class (1)

● Fewer breakouts; people don’t participate (2)

● More direction on the final project (1)● Utilize Canvas for course logistics and

details (1)● More class discussion (1)● Improve course site navigation (1)● Submit questions before class vs.

repeating answers during class (1)● Shorter presentations / report-outs

from class (1)

● Concept applications & breakout activities with project groups (1)

● Class structure is helpful, slides, break, group activity (2)

● More examples using popular brands (1)

● Prompts for class posts (1)

● Course content (1)

● Lectures / more lectures (2)

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PAIR & SHARE

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Why did shares of Snap plummet last week?

What caused SNAP shares to drop last week?

Do you think investor worries are founded? Why or why not?

What should SNAP do to regain its revenue model?

How does this connect more broadly to marketing comms?

PAIR & SHARE

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And how did WeWork do?

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PROMOTIONS

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Promotions, also called marketing communications, translate the organization’s value proposition into stories that establish the firm’s brand within the minds of consumers and clients.

- Adapted from Marketing Communications,

Harvard Publishing

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EVERY BUSINESS HAS A FUNNEL.

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EVERY BUSINESS HAS A FUNNEL.

PROSPECTS

QUALIFIED LEADS

DEMOS

CLOSED DEALS

REPEAT BUYS & REFERRALS

Some funnels are short and straightforward; others longer with multiple stages.

Marketing communications are designed to move users through each stage of the funnel -- and keep converted customers engaged as loyal repeat buyers.

Marketers develop plans that target messages, channels, and audiences based on where a prospect/customer is in the funnel.

B2B marketing/sales funnel for a technology startup.

Awareness

Lead Nurturing

Customer Relationship

PROPOSALS

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EVERY BUSINESS HAS A FUNNEL.

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View Planning Document https://docs.google.com/spreadsheets/d/1z5XgJPdEg5HodrvIbvb-VXyJRzEJzfup1kkL0JWu5_k/edit?usp=sharing

START COMMS w/ A CUSTOMER JOURNEY MAP

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THE 6Ms OF PROMOTIONS PLANNING.

1 MARKET 2 MISSION 3 MESSAGE

4 MEDIA 5 MONEY 6 MEASUREMENT

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MARKETING CHANNELS PLAY DIFFERENT ROLES IN PURCHASE DECISION.

Paid SocialPaid SearchOrganic Search / Keywords

Display AdvertisingContent MarketingPaid SocialVideo AdsOTT Ads

Paid SocialEmail MarketingDirect Traffic

Earned SocialEmail Marketing

Content MarketingOrganic Search / Keywords

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PROJECT BREAKOUT

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DONE

CONCEPT

Clear description of the project concept. Should be able to describe the technology, and generally, which industry it will impact.

DONE

MARKETING STRATEGY

Completed customer segmentation work, using multiple segmentation variables to identify the best target.

Selected target segment, with qualitative and quantitative research to support decision.

Drafted a value proposition statement & brand positioning.

Understand the differences with your competitors.

Understand the differences between buyers and users.

SUN OCT 31

PROMOTIONS PLAN

Drafted promotions / communications plan designed to engage users.

As appropriate, develop a plan that will acquire and retain users to achieve client goals.

Begin drafting presentation deck. Tell a story with your pitch!

SUN NOV 14

PRODUCT, PRICING &DRAFT DECK

Detail product features that will deliver your value proposition.

Develop a conceptual pricing model with justification for choosing the methodology that you do.

Draft deck should be complete by the 14th.

WED NOV 17

FINAL PRESENTATION

Final presentations will occur during class on November 17.

USE THE IN-CLASS ACTIVITIES TO GUIDE YOU!

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Project Activity 6: Develop a marketing communications plan to engage your users.

Step 1: Develop a BUYER PERSONA for your target market. Review this deck for a buyer persona and some tools to do this.

Step 2: Map the CUSTOMER JOURNEY. Make a copy of the the Customer Journey Tool to map your buyer’s process. https://docs.google.com/spreadsheets/d/1z5XgJPdEg5HodrvIbvb-VXyJRzEJzfup1kkL0JWu5_k/edit?usp=sharing

Step 3: Identify channels that you’ll use along the journey. What channels are more likely to reach your buyer at each stage in the journey.

Step 4: Use the 6M model to establish a messaging strategy along the way. Once you’ve developed the funnel, use the 6M framework to determine what messaging and channels you will use to engage your buyer’s customers with the technology.

Step 5: Add measurement goals that you would use to track your progress. How will you manage your pipeline to identify what areas of the funnel need attention? Propose metrics that you will use to monitor your marketing / sales performance..

It’s not likely that you’ll have time to cover all of this in-depth. As you progress on the project, please use this – and other activities – as guides to help you work through the project requirements. These activities demonstrate how to use the tools covered in class in actual planning.

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BREAK

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PRODUCT STRATEGY

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Getting from A to B in a plane.

A Seat. Pilot. Safety / Safety.Seatbelt. Trained Workers.

Comfortable Seat. On-time service. 1 free carry-on. Table tray. Drink.

Head rest, foot stool, leg space. 2nd carry-on. Free Checked Bag. Free Snacks. Access to entertainment.

Access to airport lounge

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WHAT FEATURES ARE CRITICAL TO YOUR PRODUCT

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CASE DISCUSSION: Google in Russia

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SUMMARIZE THE CASE & PRESENT FINDINGS

1. Background / 5Cs: What are the risks and opportunities for Google in Russia? Think back to the 5Cs to help you prepare this answer.

2. Segmentation: How should Google segment the market in Russia? What key segmentation variables should it consider? Who is the target market?

3. Brand Positioning: What should Google RU’s brand positioning be? What should its brand pillars be? How should Google’s central brand be regionally tailored? (Consider brand pillars as the key differentiators, brand experience, and brand positioning)

4. Product Strategy: How should Google adapt its product strategy for this market?What ‘product magic’ would get Yandex fans to switch to Google? What products should it prioritize, suspend, reposition and improve? What features should it introduce? What features are necessary to acquire B2C users? What about business users?

5. Communications: How should Google reach Russian customers in its target segment? What, where, when, and how should it reach customers. Propose a high-level marketing comms plan to attract and retain new customers. (Select either a B2C focus or B2B focus for this).