In: Accounting
Pick ONE of the following options: Develop an ad campaign for a company/product/service related to your employment (note that if your employment is B2B in nature, most B2B doesn’t involve much advertising. They tend to use other promotional elements. So keep that in mind), OR Develop an ad campaign for your very own local tanning salon OR sporting goods store that’s been in business for just over one year To try to develop demand for your company/product/service -- OR to resuscitate your ailing store -- you've decided to conduct an ad campaign. Following the steps outlined in the Lecture from Chapter 18, provide a detailed description of your campaign. Be sure to mention each of the areas listed below. Also be sure that you are focusing on strategies for this specific ad campaign -- not simply your advertising or marketing in general. Do not use any current advertising campaign! NOTE: If you select your current employer who uses a differentiated strategy, select only one specific target market for this campaign. Introduction Please start by giving a brief explanation of the product/service/store you are advertising. Step 1 -- target market of this specific ad campaign Provide a geographic, demographic, and psychographic description of your target. I am looking for an insightful description of your target. Step 2a -- objective of this specific ad campaign Be sure you identify what you want this ad campaign to accomplish. Which of the types of advertising (informative, persuasive or reminder) will you be using and why? Step 2b -- focus of campaign What will be the focus of your ads – product-focused or institutional? Why? (NOTE: In addition to your text, see the lecture for clarification of these terms). Step 3 –- determine your budget Think about the size of your business, overall sales and success. You don’t need a specific budget number but discuss how these areas will affect how much you are able to spend and whether that potentially eliminates some types of media. Step 4a –- convey the message (Be creative!) Develop a unique selling proposition (USP) for the campaign. Make sure to provide an explanation of your rationale for the USP. Step 4b -- appeal Will you use an informational or emotional appeal? Why? Step 5a & b -– media types and vehicles. Describe which media types you will use and why. List the specific media vehicles for each type. A media vehicle is the specific communication tool. For instance if magazine is the media type, then Sports Illustrated or Cosmopolitan is the media vehicle; if TV is the media type then Food Network or “FOX2 News at 10pm” is the vehicle (it can be a cable network or a specific program). Step 5c -– media schedule How will you schedule your media? (continuous, pulsing, flighting)? Explain how your budget will help you make this decision. Step 6 -- IMC – integrating your ad with the rest of the promotional tools Identify and discuss other, non-advertising promotions you will use to coordinate with this ad campaign. Are there personal selling, sales promotions/incentives, public relations and/or social media efforts you’d like to include? (Keep being creative!) Really explore social media strategies using the information from Chapter 3. NOTE: In your book, step 6 is creating the ad but we are substituting IMC in this activity. Step 7 –- evaluating your campaign This is maybe one of the most important steps. How will you evaluate the effectiveness of your campaign? How will you know if it “worked?” How will you know if you should repeat the campaign, or completely revamp it? You can use some of the methods talked about in the lecture or your book.
Answer:
Let us Consider the name of the Sporting goods store is "JKS Sports".
The new ad campaign for the sporting store that has been in business for just 1year but has performed quite well in the market. It will take the brand on the national level and build brand equity for the sporting brand.
1. Target Market: All the urban and semi urban areas which includes all the Cities with the population of 5 Lakhs.
2. Campaign Idea: Play It Again, The focus of campaign is the Brand of the company, the belief due to which the company is in this business. Play It Again is a campaign which is not only there to serves children, teenagers and youth, but too the elder adults also.
3 Budget: As the company is about to spend around 20 million dollars for the new expansion plan of JKS Stores, The company has planned to create the same amount buzz in the market and decided to use 10% of the amount of expansion budget in the advertising. Which will include OOH, TV commercial, radio and Print for the whole 1 month.
4a. Message: Play It Again is a campaign which is not only there to serves children, teenagers and youth, but too the elder adults also, who have given up on sports due to their professional life. And this campaign is about the company and their services in which they communicate how they want to realize all the target group, how important sports are and telling them "Play It Again".
4b. Appeal: Play It Again is a emotional message, which will make people think about those good old days when the use to play in the streets or ground near to their home, and will ask them to come to their near by JKS store and Play It Again.
5a & b. Media Type: Campaign is planned for a month long and company is planning to do a 3600 advertising, Which will consist of a 30 second long TV commercial, which will play at the prime time, In addition to during the whole month in all major publication a Front full page will be taken in starting of the month followed by 5 insertion in the third page of size 400sq.cm. With the print, radio campaign will also be in Sync with at least 10 radio sports for 3 days a week for 4 weeks in total. all the days will be alternate and in the last two week 2 days will be extra, where Sunday will be included in the plan. To cover 3600 last part will be OOH advertising where billboard on the busiest road will be taken to advertise.
6. IMC : Now as the Campaign is running, we will start various competitions on the digital platform, where we will ask the customer to visit JKS sports and play some game and if they win they stand a chance to get a sporting equipment signed by a renowned sports player.
7. Evaluation: At the end of campaign we will check how much amount of footfall has increased in the store after the campaign and how many impression does the company has received over the social media and company website. Increase revenue is the another metrics which is a key parameter to check the performance of the campaign.