Group report – Advertising Strategy Assignment Help
4000 words (not including executive summary, tables and references
We have recently started a 3D printed shoe company called Greenz (that’s right…with a z!!!) that uses recycled plastic to make unisex sneakers. These new, innovative and environmentally-friendly products (6 different shoes in our product range with a view to develop more) have us very excited and we can see there is potential to really blow-up. As a brand-new company, we recognise there is need to advertise to achieve our key goal of increasing sales to $5million (AUD) by 2023 globally.
Given this recognised need to advertise, we are currently in the market for the services of an advertising agency to develop the best advertising campaign that we can use for the next 2 years to achieve our key goal stated above.
We want your agency to compete for our business by developing a report outlining a campaign we can use for our brand. We have a budget of $1 million (AUD) to spend on advertising and at the moment we do absolutely nothing in terms of advertising so are essentially starting from the beginning. This means we want you to focus on building awareness.
Tasks (what we want from you):
Task 1: No shoe brand is complete without an appropriate logo…therefore, design a logo that you think best represents the shoe brand (5 marks)
Task 2: As a second step, you need to understand our competitors given how competitive this industry is. As such, do a competitor analysis of at least 3-5 different competitors with the purpose of highlighting our brand’s USP relative to the competition (5 marks)
Task 3: Identify different target segments for sneakers. Which segment(s) would you target and subsequently, what segmentation strategy would you adopt?(10 marks)
Task 4: Based on what you have developed from Task 1-3, develop an advertising campaign. This includes: o 3-5 SMART short-term and long-term objectives that will feed the key goal (5 marks) o A strategy, including a mock-up and storyboard (where appropriate) of both traditional and digital channels keeping in mind the objectives you develop, target market, budget and location
(30 marks) o A timeline for the different channels you would adopt over the course of 5 years so we know when to implement them (5 marks)
o Evaluation mechanisms to see if we’ve achieved our objectives (10 marks) o A realistic budget (10 marks)
Justification of your decisions must be made so we know your suggestions are supported by evidence. Make sure you all your advertising mock-ups and/or storyboards.
Task 5: Presenting this report professionally is also important. This means the report must include an executive summary, an introduction, an industry analysis, and be free of grammatical and spelling errors, use paragraphs well, includes tables, appropriate dot points, graphics, infographics and references (20 marks)
A little about our company:
- Greenz was officially created in 2021 and is ready to launch ASAP
- All shoes are made in Australia
- We like to think of ourselves as a cool, fresh brand that cares deeply about the environment and other social issues
- We offer 6 shoe types in our product range, these include:
|Type||Colour range||Price (R.R.P)|
|Plimsoll replica||– Black
|High top sneakers||– Black and burgundy
– Navy and cream
– White and green
|Classic slip-on sneakers||– Black
|Low top lace-ups (our staple shoe and anticipated best seller)||– White
|Casual loafers||– Black
—–end of brief—–
Some additional hints:
- You need to develop the objectives and have an element of freedom as to what you want to achieve. Just remember a few key things:
- Take both a short-term and medium-term view.
- There needs to be connection between the objectives and overall goals.
- Be as creative as you can for the campaign, you’re competing for a new client.
- Be sure to carefully develop mock-ups for both traditional and digital channels. How you decide to use these different channels is up to you, but it needs to tie back to objectives which needs to tie back to goals. Everything is interconnected.
- Budgets must be justified based on references and kept within $1 million (AUD). – We expect to see a minimum of 6 business sources and 2 academic sources
Suggested report structure
Please note, this is merely a suggestion, you can structure the report how you wish as long as it makes sense to the reader. One thing that isn’t compromisable is the order of the first four components:
- Title page
- Executive summary
- Table of contents
- Industry background
- Logo design
- Competitor analysis
- Target segment
- Campaign strategy
- Evaluation tools
Title Page: Must see group member names (and student numbers), your company name
Executive summary: Executive summary should be professionally organised. The executive summary needs to contain the purpose of the report in one concise paragraph followed by the highlights of the report (i.e. key points ) in a few paragraphs (approximately 1 page in length in total). Remember…the focus here is what you found, not what you did, i.e. summarise your key findings.
Table of contents: Sub-headings AND page numbers.
Introduction: Brief company background (limited information here), purpose and scope of report (scope refers to what the reader can expect in the report).
Industry background: Give an understanding of the industry including current size, potential estimated growth, major players, industry trends and anything else you can identify that paints a sufficient picture of how the industry operates.
Logo design: This section will be short but show and explain your design and justify why you think it will be effective. Remember that it has to make sense to the product. Also, have a look at what competitors are doing, how will your logo be distinct?
Competitor analysis: Here you will outline the major players in more detail. Some factors you will need to consider include; company overview, marketing mix with a strong focus on promotion, customer segments, strengths, weaknesses, positioning, mission and values, unique selling propositions. Anything else you deem relevant to paint a clear picture of the competition. We strongly recommend a table here.
Target segment: Target market selection is done after evaluating market opportunities and doing a competitive analysis. It has direct implications on a firm’s advertising and promotional efforts. Break the sneaker market down into identifiable segments. Aim for approximately 4-6 key segments but this may vary. To break the market down, choose a selection of different demographic, geographic, psychographic and behavioural variables. Again aim for a nice manageable size of 6-10 variables. Based on this breakdown, which segments would you target? More detail can be found below of the process.
- Identifying markets with unfulfilled needs – In this step consumers with similar lifestyles, needs, and wants are isolated and increases the marketers knowledge of their specific requirements. I. Marketer identifies the specific needs of groups of people (or segments); II. Selects one or more of these segments as a target;
- Isolates consumers with similar lifestyles, needs, and the like;
- Increased marketer’s knowledge of consumers’ specific requirements.
- Determining market segmentation – In this step a market is divided into distinct groups that have common needs and will respond similarly to a marketing action.
- Dividing a market into distinct groups with common needs, who respond similarly to a marketing situation
- Customer characteristics segmentation criteria:
- Geographic: Dividing the market on the basis of region, city size, metropolitan area, and/or density
- Demographic: Dividing the market on the basis of age, sex, family size, marital status, etc.
- Socioeconomic: Dividing the market on the basis of income, education, or occupation
- Behavioural: Dividing the market on basis behaviour such as benefits sought, usage, interests
- Psychographic: Dividing the market on the basis of personality, lifecycles, and/or lifestyles
- Selecting a market to target – This step determines how many segments to enter, and which segments offer the most potential.
- Determine how many segments to enter
- Utilizing market coverage alternatives:
- Undifferentiated marketing: Ignoring segment differences and offering just one product or service to the entire market
- Differentiated marketing: Involves marketing in a number of segments, developing separate marketing strategies for each
- Concentrated marketing: Selecting a segment and attempting to capture a large share of this market
- Determine which segments offer the most potential
- Selecting the most attractive segment
- Sales potential of segment
- Opportunities for growth
- Competition analysis
- Ability to compete
- Ability to market to this group
We highly recommend table and then perhaps a customer persona. Your selection needs to be justified based on the criteria highlighted above (3.II determine which segments offer the most potential) Objectives: Given the key goal above, develop some objectives that you want to achieve in the short-term and then some in the long-term. This section will not be long as each objective is approximately 1-2 lines but must be SMART. Clearly state which objectives are short-term and which are long-term. The nature of what you want to achieve in order to reach the key goal is up to you. In other words, there is some flexibility in what your objectives will look like. Please remember that objectives need to be written as WHAT you want to achieve, not HOW you will achieve it. e.g.
P Increase Facebook likes to 1 million by 2022 (this demonstrates the “what”)
X Develop a Facebook advertisement to highlight the brand and products (this demonstrates the “how”)
Campaign: This is where you develop your ads via mockup and/or storyboard. You will also select the media channels you will use here and justify why you have selected them. This is the biggest component and where you will use your creativity and strategic thinking to develop a campaign. Remember that you’re trying to win our business so you need to ensure that what you develop is going to be effective in helping the company achieve the objectives you highlighted earlier. Some additional things to consider include; costs of ads, appeals, digital channels, traditional channels, target segments, positioning, unique selling proposition, competitor promotion.
Evaluation: What tools you will use to see if your objectives have been achieved? When will you use them?
- Conversion – number of people to purchase a product or achieve the advertisers end-goal.
- Coverage – number of people, or cars, which were potentially exposed to the advertising.
- Reach – measurement of audience accumulation.
- Comparison – how the advertising performed in comparison to another.
- Research – in this instance looking at focus groups (primary and secondary data).
- Feedback – particularly from front-line staff who are interacting with customers.
- Competitor response – the greatest form of advertising flattery.
- Digital – SEO and SEM.
Consider a table, consisting of:
- What are you measuring?
- How you are measuring it?
- When will you measure?
Timeline: Given that the company wants to achieve the goal by 2023, when do you suggest each component of the campaign is implemented. Consider a Gantt chart here but make sure to justify your decisions. For example, if you think a billboard ad should run in 2021, tell us why?
Budget: How much will all this cost the company? We suggest a table here with a breakdown of the costs.
Also, include refences next to the costs so we know that your estimates are based on a realistic estimation.
Assume your company fees are accounted for and use the $1 million (AUD) purely for advertising.
Final comment: You have creative freedom here. We want you to win our business so come up with decisions that you feel will do that the best.