Advertising Strategy
An advertising strategy should support the marketing plan, which in turn supports the company business plan.
In the Real World you will rarely be handed a marketing or business plan. So you'll normally have to figure things out for yourself.
The first step in the development of your communications strategy could be, should be a SWOT analysis.
Properly done, a Strengths Weaknesses Opportunities and Threats assessment will give you a 360 degree, full-color picture of the market, the product or service, and the company.
> How to conduct a SWOT analysis.
There are two major parts to an advertising strategy:
1) Assessment.
What's going on in the market, What's the history, the current situation. What are the major trends in the market, what's the future looking like? With the product. With competitors. With consumer attitudes.
2) Action
What should your client do about the the most significant opportunities or problems presented by the situation? What should you do with the brand. With direct marketing. The Web site. The way the company is positioned.
A SWOT analysis will help you figure out the "What's going on" part. And figure it out quickly.
The "What to do" part of your ad strategy should follow logically from the "What's going on" part.
Example: Say the SWOT analysis reveals that there is serious and growing competition from price slashers.
Your strategy might be:
A) Position, or re-position the product: "Because you're worth it - worth so much more then the extra dollar."
B) Invest in, create a stronger brand personality - one based on an upscale, character that people will aspire to associate with.
C) Use traditional dm and the Internet / Web site to target and sell younger buyers, new buyers, before they have established a product / service / company preference.
You can see how your ad strategy addresses a business issue, competitive...
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