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Showing posts from August, 2021

RABOSTIC planning model

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Definition: "The Integrated Marketing Communications RABOSTIC Planning Model  identifies the stages involved in developing effective IMC plans . The stages, which are iterative, are Research, Analysis, Budgeting, Objective setting, Strategic development, Tactical decisions, Implementation and Control/evaluation" Detail:  The stages, while logically presented, should not be seen entirely as a fixed sequence, the planning process is more sophisticated and complex to be seen in such a 'straight-jacketed way. This model is a variant of similar well accepted planning models. The Control and evaluation stage may itself be a part of the input into the Research and Analysis stages for the next round of IMC development. The Research and Analysis stages may also make use of the PRESTCOM model to identify and analyse relevant factors affecting the external and internal environment of the organisation/brand. The PRESTCOM model can be found described as a separate model. Introduct...
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MARKETING THEORIES – PESO TOOL

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  MARKETING THEORIES – PESO TOOL The PESO tool is a great way to categories the types of communication a brand has with consumers. It allows marketers to take a step back and see the bigger picture when it comes to their marketing activity. You can see where efforts are being focused, and where they should be focused to create a seamlessly integrated mix.  PESO was created by Spin Sucks founder Gini Dietrich in 2009 to plan how organisations use different forms of modern media to distribute their content. Its roots are in the world of public relations, but it’s also an incredibly useful tool for marketers to plan their content and overall strategy. Each marketing communication fits into one or more of the following four areas; Paid, Earned, Shared and Owned (PESO).   Paid This refers to any content that is paid for. It covers print and TV advertising, social media ads, promoted posts and paid publishing. It can be quite high cost but reaches new heights in t...
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MARKETING THEORIES – PESTEL ANALYSIS

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MARKETING THEORIES – PESTEL ANALYSIS A PESTEL analysis or more recently named PESTELE is a framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organisation. The result of which is used to identify threats and weaknesses which are used in a  SWOT analysis . PESTEL stands for: P – Political E – Economic S – Social T – Technological E – Environmental L – Legal E - Ethical (NEW) Let look at each of these macro-environmental factors in turn. All the external environmental factors (PESTEL factors) Political Factors These are all about how and to what degree a government intervenes in the economy. This can include – government policy, political stability or instability in overseas markets, foreign trade policy, tax policy, labor law, environmental law, trade restrictions and so on. It is clear from the list above that political fa...
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MARKETING THEORIES – BOSTON CONSULTING GROUP MATRIX

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<head> <!-- Global site tag (gtag.js) - Google Analytics --> <script async src="https://www.googletagmanager.com/gtag/js?id=UA-206171462-1"> </script> <script>   window.dataLayer = window.dataLayer || [];   function gtag(){dataLayer.push(arguments);}   gtag('js', new Date());   gtag('config', 'UA-206171462-1'); </script> </head>  MARKETING THEORIES – BOSTON CONSULTING GROUP MATRIX If you are working with a product portfolio you have a range of tools at your disposal to determine how each one or a group of the products are doing. You could consider using the Product Life Cycle but if you need a current “snap shot” of how the products are doing you would benefit more from using the Boston Consulting Group Matrix. Back in 1968 a clever chap from Boston Consulting Group, Bruce Henderson, created this chart to help organisations with the task of analysing their product line or portfolio. The matrix assess products o...
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MARKETING THEORIES - MASLOW'S HIERARCHY OF NEEDS

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  MARKETINGTHEORIES- MASLOW'S HIERARCHY OF NEEDS Maslow’s hierarchy of needs was developed by Abraham Maslow, a specialist in human behavioral psychology. The hierarchy was first developed to help explain the connection between basic human needs and human desires. The hierarchy, often visualized as a pyramid is split into five categories. Put simply unless we have the fundamental basic human needs at the bottom of the hierarchy we will not strive to meet any further desires. As each requirement is fulfilled we move up the hierarchy. Physiological needs: These are the underlying needs we as humans can’t live without. E.g. Food, water, sleep, oxygen etc. Safety needs: We all need to feel safe. Whether that be physically, financially or job security and health. Social needs: We all look for social connections in friends and family. Esteem needs: We all desire to have respect and be respected by others, this includ...
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SEGMENTATION, TARGETING, POSITIONING & THE BUYER PERSONA

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  SEGMENTATION, TARGETING, POSITIONING & THE BUYER PERSONA Who is your product/service for? If your answer is ‘everyone!’, then you have some strategizing to do. You might think keeping the range broad means you’ll sell more – but it actually implies that your product appeals to no-one in particular. Your marketing will also be more expensive, and it’s difficult to have a one-size-fits-all approach when it comes to messaging. So, we need to make your audience more defined. Or if your product really does appeal to everyone, then you can segment it and tailor messages to each individual group. Tailored marketing means you can speak directly to specific sections of your audience with appealing personalized messages, imagery, and colors throughout your promotional materials.   This is where Segmentation, Targeting and Positioning (STP) comes in! Simply put, it’s an approach that helps you effectively communicate with the most valuable segments of your target market. ST...
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MARKETING THEORIES – THE MARKETING ENVIRONMENT

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  MARKETING THEORIES – THE MARKETING ENVIRONMENT The marketing environment is considered as part of the marketing planning process and explores various internal and external forces that might affect a business and its capacity to operate. This can be anything from technological and cultural forces to influences such as suppliers, customers and competitors. Some of these factors are manageable but others can be beyond a firm’s control (e.g. legal and political structures). Being aware of the marketing environment means companies can effectively map out their marketing activity to overcome any negative influences they might encounter. The Model The Internal Environment The internal environment considers everything inside of the bounds of the company. This includes staff at all levels and from all departments, financial and management decisions / influences and more. Factors in the internal environment can be controlled by the organization. Examples: Staff members –...
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