IMC Project – unicorp essays

Project GuidelinesObjectives of the IMC ProjectThis project gives you a chance to work on a marketing communications campaign, much like you wouldin an advertising agency. This hands-on project is designed so you will (1) select objectives for anadvertising campaign, (2) formulate a creative strategy for an advertising campaign, (3) select media thatefficiently reaches targeted audiences, (4) discuss the various methods used to track the effectiveness ofad executions during and after the launch of an advertising campaign, and (5) employ appropriateresearch techniques and analyze, interpret, and present data effectively.The Integrated Marketing Communications PlanAn IMC plan is a blueprint of the complete marketing communications program for a product/brand. It isa formal document that evaluates the background of the brand and presents a set of guidelines and anaction program for the advertising and promotions campaign.The ClientYou will be creating a new IMC campaign for the company of your choice.Project RequirementsWritten ReportYou will prepare a professional report (the IMC Plan). It should also contain any campaign materials that wouldbe submitted to the client. The IMC Plan (minimum of 8 pages, including title page, table of contents, executivesummary, content, references, etc. – double-spaced, containing sentences/paragraphs with some bullet pointsperiodically) should be typed, and the campaign materials should follow the execution requirements listed below.Campaign Materials Execution RequirementsAll materials must be created by you not by outside sources. Handwritten work is unacceptable, unless used forspecial effect.Execution Pieces RequiredYou need to produce at least three communication pieces for the company. Some examples are listedbelow. Remember your choices must be consistent with your message and campaign objectives.1. Create a 30 second spot for use on the radio: start with writing a script2. Create a newspaper ad for national distribution: make example of ad3. Create a direct mail piece to be sent to a given list of homes: make example of piece4. Create a billboard for use on a heavy route of highway: make example of ad5. Create a 30 second spot for national TV: make example of ad6. Create a full-page magazine ad for publication in a national magazine: make example of ad7. Create a three-fold brochure for use by the company’s sales force: make example of brochure8. Create a specialty item (gift type) as a giveaway for the company to give to customers: makeexample of item9. Create a website for the company: make example of site10. Create an internet ad: make example of ad11. Create two social media posts: make example of two posts (this is considered one piece towardsrequired three communication pieces)12. Create a Press Release: write press release13. Create a Sales Promotion: make example of piece– 2 –Budget RequirementsMaximum amount = $100,000IMC Plan Requirements/LayoutTitle PageClient NameAgency NameYour NameCourse TitleProfessor’s NameDateTable of Contents (with page numbers)List all major headings in your plan – with page numbers. Add headings at the beginning of each part ofthe IMC Plan. Use the names of the section (i.e. Organization).Executive SummaryA summary (maximum of 2 pages) of exactly what your IMC Plan involves. Items include:· Target audiences· Time period of the plan· Campaign objectives· Campaign theme/slogan· Overall budget total· Budget breakdown (dollars and percentages) by each major IMC element and each medium· Summary of media used (Media chart)· Evaluation of programThe basic purpose of the executive summary is to inform the client (top officials) exactly what you areproposing in one or two pages. Be precise. Be complete. Providing bullet-type formatting – periodically –is an effective way to organize and present your material.Industry BackgroundA. SizeB. GrowthC. Current trends/development in industryOrganizationInternal Review:A. Description of companyB. Place in IndustryC. Market ShareD. Overview of products/services providedE. Mission statementF. Position in Market: how does company differentiate itself in market?G. Product/Service ReviewDescription of Product/BrandA. SalesB. Price of productC. Place – where can it be purchased?D. Life Cycle Stage– 3 –E. Low/High involvement productF. Key BenefitsG. Brand ImageH. Current Positioning in Market – unique benefits, features, and competitive advantage?External Review: Competitive PositionA. Describe the overall competitive situationB. Who are your two major competitors?C. For each of these major competitors describe:• Who is the key target market of your primary competitors?• What is their market share?• What is their position in the market?• What is their current marketing strategy & mix?• Current advertising and promotion used?• What is their current communication strategy (message, media used)• What are their strengths and weaknesses?• How is your client’s company better than competitors?Competitor Analysis Example for Hardware StoreHome DepotTarget Market:who are they, where do they shopBuilders, Contractors: know what they wantHomeowners: DIY-do it yourself & DIFM-do it for me (buymaterial and hire contractor to do the work): with someknowledge of what they want.Also shop at Lowes and local hardware storesProduct:focus of product line includingservice, branding, features, benefitsVery broad product line of hardware, lumber, lawn & garden(45,000 items)Mainly self serviceWell-known brandsPrice:Price level, credit offered, salesVery low everyday prices, delivery and installation available atmodest cost, credit offered to contractors who are regularcustomers, credit card also available to homeowners, typicallyoffer 0% financing deals and rebates on large purchasesPromotion:Types of Advertising/Promotion used,claims made in advertisingTypes: Ads on TV, weekly local newspaper inserts, specialorders desk.Claim low prices in ads – current ad: “it’s time to turn a smallbudget into a big difference” and that you can do the workyourself.Place: locations, transportation,supplier relationshipsLots of convenient locations – 2,230 stores in 50 states,suppliers truck directly to store locationsPositioning,Slogan UsedPositioning: low priceSlogan: “You can do it, we can help.”Market Share #1 hardware store in world, second largest retailer in U.S. (WalMart is #1)Revenue (Sales): last three years Jan. 2006: 81,511.0 (millions)Jan. 2007: 90, 837.0Jan. 2008: 77,349.0Other advantages Chains large volume gives it a cost advantage, so can offerlower prices– 4 –Buyer Analysis: Consumer buyer behavior that may affect your campaign.A. Buying Decision ProcessB. Who buys the product?C. Who influences the purchase decision?D. Decision criteriaSWOT AnalysisA. Strengths• What are the major competitive advantages we have over the competition?B. Weaknesses• What are competitors better at than we are?• What are our major internal weaknesses?C. Opportunities• What favorable environmental trends exist that may benefit our firm?• What is the competition doing in our market?D. Threats• What unfortunate environmental trends exist that may hurt our future performance?• What technology is on the horizon that may soon have an impact on our firm?E. Analysis of company/market and consumer needs• Based on the SWOT analysis, where is the current need in the marketplace?Marketing Strategy/GoalsA. Marketing Goals• What is to be accomplished by the overall marketing program? The situation analysis is thefoundation for the marketing goals. They are defined by one or more of the following:• sales volume• market share• sales revenue• profit• return on investmentNote: Marketing Goals and communications goals/objectives are different goals. Marketing goalsestablish the framework for the communication objectives.B. Target Markets• Segmentation Analysis• Who is your primary target market?• Secondary target market?• Is there anything distinct about the target market the company serves?• Characteristics of Target Market• Geographics (do customers live in a particular area?)• Demographics (age, income, etc.)• Psychographics/Lifestyle Patterns• Generations• Benefit Segmentation– 5 –Part 2: Integrated Marketing Communications Program (due November 26)Set Communication Objectives: This section explains what needs to be accomplished in order for thecompany to meet its marketing goals and how the objectives will be achieved.A. What is the communication expected to accomplish? Examples:• Awareness – used when most of the target audience is unaware of the product or brand orwhen awareness levels need to be increased• Knowledge – used when the target audience has awareness, but know little beyond that• Liking – used when the target audience knows the company and product, but looksunfavorably upon it• Preference – used when the target audience is aware of the product, knows about it, likes itbut prefers other brands over it• Conviction – used when the target audience may prefer the product, but is not convinced thatit is the best choice• Purchase (action) – used when the target audience has conviction, but needs a “push” topurchase or try the productB. Campaign Objectives – Examples:• Increase awareness among target audience by 10%• Increase product trial among target audience ages 35-49 by 5%.C. Campaign Strategies – Examples:• Place advertising in specific magazines• Provide cooperative advertising support to retail outlets• Make demonstration models available to key retailers• Sponsor clinics to teach consumers how to use the productDevelop Creative/Message StrategyA. Positioning & Campaign Theme: The image you want your product to have in the minds of the targetmarket. How you want your product perceived relative to the competition; it is the basis for all of yourcommunication.• Positioning Strategy• Positioning Statement• Campaign ThemeCreative RecommendationsA. Target AudienceB. Copy Platform• Advertising Objectives – what is the advertising supposed to do• To increase awareness• To persuade target audience that….• To obtain action….etc• Advertising Strategy – what the ad is attempting to communicate: i.e., the product benefit,problem solution, or other advantage to the product-physical or psychological. (i.e. the use ofthis product will allow you to recover from exercise more quickly, using this product is moreconvenient than…, etc.)• Advertising Appeal – how the ad stimulates interest, influences feelings• Emotional or Informational/Rational• Advertising Execution Format – how the ad appears– 6 –• Creative Tactics• Layout & Design – How will you layout your ad and why?• Visual elements – What visuals will you use to capture attention?• Color, pictures, logos, product placement. (Remember your message/ad should beconsistent across all media.)• Executions (Create your communication pieces – see page 2)Media RecommendationsA. Target Audience – does audience match your desired target marketB. Objectives – Examples:• To achieve an 80% reach• To increase advertising in a specific geographic areaC. Strategy – Examples:• Use scheduled media to coincide with sales promotions• Increase radio ads in select markets• Use magazines primarily targeted to women 18-24D. Media Plan –• Media Mix & reason for using chosen media: Radio, TV, newspaper, magazines, outdoor,internet, direct mail, publicity, etc…..• Geographic Scope• Scheduling: How often will your communications run and why?• Continuity/Flighting/Pulsing• For each media chosen list (estimate):• Total Audience or Circulation (Reach)• How many times you will run the ad (Frequency)E. What is the total cost of all of your ads (estimate)?• Breakdown by media class (e.g., print)• By media vehicle (e.g., Business Week)Public Relations RecommendationsA. Target AudienceB. ObjectivesC. Strategy/ ExecutionsD. BudgetMonitor, Evaluate & ControlA. Which type of research will you conduct to measure the effectiveness of the campaign?Budget SummaryA. Summarize all costs of the campaignReferences/Works CitedList all sources used for this campaign (see requirements listed below)Using Outside SourcesCollecting information for this project will require time and ingenuity. You are required to use at leastfive total sources, which should include sources from the library databases: Business (ProQuest),Business Source Complete, EBSCOhost, ERIC, Hoovers, Sage Journals, Chronicle of HigherEducation, etc. These sources will provide periodicals which will contain articles about your company,– 7 –industry, or market trends. You must cite all of your resources using a Works Cited page (MLA or APA –be consistent). Be careful not to rely solely on a company’s website which is often a public relationsvehicle, and would not point out problems with the brands, its products, the industry, etc.Outside sources may be used to complete this project. This direction would include obtaining informationsuch as cost estimates, previous ads used by a company, research studies, ratings data, industry reports, adagency information, media suppliers and others. All sources should be cited in a Works Cited at the endof the paper. Online encyclopedias and dictionaries are unacceptable (i.e. Wikipedia) and their use willresult in one letter grade deduction. Any information gathered from a website must be cited. Takinginformation word for word from an internet site or any research periodical, journal, or book — and passingit off as your own — is plagiarism