Marketing & Advertising Plan

Marketing Plan

• The 4 C’s and the 4 P’s– Product, price, promotion, place– Consumer, cost, communication, convenience

• Specific products/services vignettes (modeled after customer vignettes)– Image– Features/benefits– Promotions– Pricing– Advertising materials by medium– Customer acquisition goals

Advertising Platforms – Short-Term

• Online– Particularly focused and cost-effective. Requires knowing the exact platform

profile of your target customer. See separate PPT presentation on online marketing/advertising.

• Events– Costs can range from a couple hundred dollars to tens of thousands. Allows

for face-to-face interaction with prospective customers, robust demonstration of products, and dynamic generation of image/brand identity.

• Street promo– Particularly cost-effective. Usually best done in combination with word of

mouth.

• Word of mouth– Can be practically free and extremely effective. Requires having opinion

leader “champions” within your target customer groups.

Advertising Platforms – Long-Term

• Outdoor– Average CPM $2.26*

• Radio– Average CPM $4.54*

• Print– Average CPM $5.50-6.98*

• TV– Average CPM $5.99-10.25*

With short-term and long-term, the key is (A) how big the price of what you’re selling is, (B) how many people purchase for a given CPM, and (C) how many purchasers become repeat customers. The difference between short-term and long-term is the volume you are required to purchase to “get in the game” (short-term has much lower cost of entry).

* http://infoacrs.com/a/averagecmps.html

Customer Vignettes – Example (Golf Course)

• Wants/needs– Regular opportunities to enjoy drinking/smoking/talking with friends while doing some sort of “activity”.– Enjoyment of connection w/ friends, positive self-esteem from playing well, intellectual stimulation from

environment.

• Preferences– I’m not really into “Western” stuff personally, but it reminds me of the fact that my girlfriend likes

Country music, which is a fond association for me.– If I’m going to stay at a golf course clubhouse to drink/smoke/hang out with friends after a round of

golf, the place has to have enough people/activity to feel like a night life spot, not just a clubhouse.

• Where/when they buy– $100ish for the entire round of golf, cart, drinks, food on course and in clubhouse. About once every

other month.– Groupon, Google searches, word of mouth.– I tend to be a pretty loyal repeat customer.– I only play golf when it’s reasonably warm outside.

• Demographics– 41 years old, single, $50k annual salary, PhD candidate, residence Clifton, professional location

Clifton

• Jeremy Woods• Consumer• Not active as an influencer for golf market

Product/Service Vignettes – Example (Golf Course)

• Customer segment: Cincinnati-area higher education professionals (see customer vignette for Jeremy Woods).

• Specific product/service: The “weekend starter” package.• Image: The “weekend starter” package will be a differentiated weekend social

activity. It offers golf outings and evening activities at a local course with a particular decoration theme. The holes will be decorated with quirky images and information about the development of golf courses in the American West, and evening activities will feature similar décor, as well as similarly-themed trivia and karaoke activities.

• Features/benefits: Opportunity to converse with friends and enjoy an activity in an intellectually stimulating environment.

• Promotions: Reduced green fees combined with evening food/drink credit.• Pricing: $15 per person for 18 holes including cart, $30 food & drink credit.• Advertising materials by medium: Groupon, AdWords, Word of Mouth, Street

Promo (see following pages).• Customer acquisition goals: 20 individuals each for 3 weekend starter packages

in 2013 (May, July, and September). Target 25% repeat customer retention.

Advertising Materials by Medium – Groupon

• Text:– History of Golf in the West Outing– Enjoy 18 holes of golf and an

evening of karaoke, trivia, and fun featuring the history of golf in the American West.

– $90 value for $45

• Other details: – Target location: select

Cincinnati zip codes– Target demographics: age 30-

50– Target deal preference: off the

beaten path

Advertising Materials by Medium – AdWords

• Text:– Enjoy 18 holes of golf and an

evening of karaoke, trivia, and fun featuring the history of golf in the American West.

• Other details: – Keywords: Cincinnati, Golf,

Weekend, Night Life, Activities– Max price per click: $0.99– Max spend: $50

Advertising Materials by Medium – Word of Mouth

• Message:– Great Friday afternoon weekend

starter activity. Join us!

• Opinion Leaders:– Jane B., UC– Frank W., UC– Sharon N., Xavier– Steve F., Xavier– Joe B., NKU

Advertising Materials by Medium – Street Promo

• Text:– History of Golf in the West Outing– Enjoy 18 holes of golf and an

evening of karaoke, trivia, and fun featuring the history of golf in the American West.

– $90 value for $45

• Other details: – Flyers dropped in

departmental admin offices and mailboxes at College of Business, School of Architecture, Law School at UC, Xavier, NKU