February 7, 2010

Marketing Questions: What is Strategic Marketing?

WE’RE STARTING A NEW INITIATIVE AT KARRAN FINLAY MARKETING (KFM)

MONTHLY MARKETING Q & A’s WITH KFM!

Starting February 2010, we invite people to send in their marketing and event questions to karran@karranfinlaymarketing.com. At the beginning of every month, we will review all questions received, and choose 2-4 of these to answer in our monthly “Q & A” posts. We will make every effort to answer all questions received.

Today’s Monthly Marketing Q & A’s with KFM will cover two questions that we were asked recently at a client meeting. This client has just launched a new company and they wish to build an entrance strategy for launching into a new market.

QUESTION #1: WHAT IS BRAND POSITIONING AND WHY IS IT IMPORTANT?

The Four P's

Brand positioning defines who you are in the market. It’s what sets your product, service, and company apart from your competitors, therefore, increasing the value of your brand.

It’s important to understand how you’ll differentiate your product offering in order to stand out in the competitive landscape. Once you understand this, you’ll be able to build your brand strategy around it. It’s important to remember, however, to consistently focus your efforts on ensuring your company delivers on this strategy.

Brand positioning lets consumers/customers understand who you are. It creates a unique identity for your business. If consumers clearly understand what your business stands for and how your product can positively fulfill their consumer interests, they will remember you.

When developing your brand positioning, try to think of your best target customer and think about what they’d want from your product. Once you come up with what you think that customer would want, design your positing to best match his/her needs. You must also ensure that you’re confident your product can consistently match this offering (there’s no point in designing your positioning around your best customers interests if you don’t think your company will realistically match all offerings). Develop your brand positioning around what you do best and what your target customers want.

In summary, when positioning your brand decide who your target customer is, who your competitors are, how your product is different from your competitor and how it’s similar. Then carve out your niche!

QUESTION #2: WHAT MAKES A GOOD AD?

The Single Speed City Bike, The Cool Hunter

Good advertising needs to evoke emotion and impel action. All ads are created for different reasons and therefore have different boundaries, but generally, a good add should follow these guidelines:

1. The message should be clear. If the reader doesn’t understand the ad right away, you’ll loose them.

2. The message and design should be simple. Ads that are too busy and too wordy are too hard to follow.

GoodLife Fitness, Northgate Village, Burnaby BC

3. The ad should be eye catching. If there isn’t something that stands out about your ad, people simply won’t see it. You can do this with texture, colour, size, etc.

Vespa Ad, The Cool Hunter

4. The ad should evoke emotion. This doesn’t mean that the viewer should feel like crying or laughing when they see your ad, they just need to feel something. This simple connection makes your message more memorable. If the viewer feels something, you’ve made a connection. This connection is imperative.

Highway Ad to Get People to Slow Down, The Cool Hunter

5. Finally, the ad should impel action. The ad should drive the viewer to do something after seeing your ad. The ad should inspire the reader to google your brand, visit your store, think about a topic in a new way, or buy a new product.

Interactive Sharpie E-Cast Billboard, The Cool Hunter

There you have it! The first of many KFM Q & A’s to come.

www.karranfinlaymarketing.com

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Event Marketing , Event Planning , General Marketing , Strategic Marketing
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