Marketing Fundamentals: From USP to Briefing
Unique Selling Proposition (USP)
The unique selling proposition (USP) is a marketing concept that explains the success of effective advertising campaigns. The USP states that these campaigns present unique propositions to customers, persuading them to switch brands. Each advertisement must convey a clear message: “Buy this product for this specific benefit.”
Target Market
A target market is a customer group that a business aims its marketing efforts and merchandise towards.[1] A well-defined target market is fundamental to a marketing strategy.
Marketing Policies
The four elements of a marketing mix strategy determine a product or service’s success in the marketplace:
- Product: An item that satisfies consumer demand.
- Price: The amount a customer pays for the product.
- Promotion: All communication methods used by a marketer to inform different parties about the product. This includes advertising, public relations, and sales promotion.
- Place (Distribution): Providing the product at a location convenient for consumer access.
Direct Marketing, Telemarketing, and Sponsorship
Beyond publicity, other important enterprise communication methods include:
- Direct Marketing: A form of advertising that allows direct communication with customers through various media, including cell phone text messaging, email, and door-to-door marketing.
- Telemarketing: A direct marketing method where a salesperson solicits prospective customers to purchase products or services over the phone or through a scheduled face-to-face appointment. Telemarketing may also involve automated recorded sales pitches.
- Sponsorship: Providing financial support or products/services to an event, activity, person, or organization with the expectation of a commercial return.
Publicity attracts public attention and encourages purchasing or consumption. Public relations involve ongoing activities to maintain a strong public image for the company. Propaganda is biased communication intended to promote or demote specific ideologies.
Types of Advertising Agencies
- Local Agencies: Operate within a specific city or country.
- Multinational Agencies: Operate in multiple countries.
- Full-Service Agencies: Provide all services a client might need.
- Purchasing Departments: Plan and purchase media.
- Design Agencies: Handle the creative aspects of publicity campaigns.
Consumer Categories
- Existing Consumers: Currently use the product and represent the real market.
- Potential Consumers: Don’t currently use the product but could, representing the potential market.
- Non-Consumers: Do not, cannot, or should not use the product.
Consumer, Client, Customer, and Influencer
- Customer: Purchases the product for themselves or someone else.
- Client: Purchases services.
- Consumer: Uses the product.
- Influencer: Influences the purchase decision, leading someone else to buy the product.
Good, Service, and Idea
- Good: A tangible product you can physically touch.
- Service: A non-tangible product without a physical aspect.
- Idea: Selling a way of understanding things, a company image, or a commitment. For example, a company promoting its environmentally friendly policies or charitable contributions.
Types of Advertisers
- Person
- Private Company
- Public Organization
- NGO
- Institution
Logo and Symbol
A logo is a graphical design or symbol used to identify an organization. It can be purely graphical or incorporate the organization’s name, representing the company’s identity and desired perception. Logos enhance brand recognition and aid customer recall.
A symbol is an image, sign, or special character representing something specific. Its primary purpose is to communicate meaning.
Storyboard
A storyboard is a graphic organizer using illustrations or images in sequence to pre-visualize motion pictures, animations, motion graphics, or interactive media sequences.
Market Position
Positioning is a marketing strategy to establish a distinct position for a brand in the customer’s mind relative to competitors. Companies achieve this by highlighting their brand’s unique features or creating a specific image (e.g., inexpensive, premium, utilitarian) through advertising. Repositioning an established brand is challenging and can damage credibility.
Briefing
A briefing is a document providing a publicity agency with comprehensive information for developing a campaign. It includes details about:
- Advertising company
- Product
- Competition
- Market
- Consumers
- Marketing objectives
- Target market
- Budget, deadlines, and other relevant information