EXAMPLE CREATIVE STRATEGY STATEMENT Market Target Current users
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EXAMPLE: CREATIVE STRATEGY STATEMENT Market Target Current users of chewable antacid tablets, primarily the O-T-C brands, Tums, Rolaids, and Di. Gel. Symptom Targets Heartburn is the symptom target for three major reasons: 1. 2. 3. Heartburn as a symptom has not been preempted by another brand, Tums, Rolaids, or Digel. The major thrust of the product’s difference and the creative strategy is speed of relief, the primary concern of heartburn sufferers. Effervescent type products are not used in significant quantities in the treatment of heartburn, thus cannibalization of Alka. Seltzer will be minimized. Core Selling Proposition Gives the heartburn high speed relief.
EXAMPLE: CREATIVE STRATEGY STATEMENT (continued) Strategy Definition The only antacid table offering superior palatability and superior efficacy; i. e. , speed of relief. 1. 2. Support the efficacy claim, explaining that it disintegrates rapidly to get to work in your stomach fast. Support the palatability by referring to its cool, creamy taste. Subordinate to the texture support palatability by referring to cool and creamy taste. Product Features The product is a chewable antacid tablet with a difference. It is formulated to disintegrate fast; i. e. , “it’s built to fall apart, ” therefore, it goes to work fast. This superiority offers the consumer two distinct benefits to help relieve his heartburn. 1. 2. Superior efficacy, i. e. , it disintegrates fast to get to work on your heartburn fast. Superior palatability; i. e. , a smooth, finer-textured tablet that “chews fast. ”
Idea Sources and Methods for Generation SOURCES OF IDEAS • Patents & Inventions • Competition • Acquisitions • Market Needs • Users Solutions • Technology • Engineering • Management & Employees METHODS TO GENERATE IDEAS • Direct Search • Exploratory Consumer Studies • Facilitate Users Solutions • Technological Information & Forecasting • Consumer Engineering • Individual Incentives • Creative Group Methods NEW PRODUCT IDEAS • Concept • Prototype • Product
A summary of the proposal’s financial and risk characteristics Forecasts Probability of Being Within + 0. 1 Estimate Development time Revenue Unit cost Investment Economic life 0. 0 Date of market introduction Probability of technical success Probability of market success Expected economic life Project index = (A x B) = A= Average annual before tax profit average investment = average annual return on investment B= (probability of technical success) x (probability of market success) x economic life Years to: Positive after tax profit Positive cumulative net cash flow Net present worth (at ______% ) = Rate of return 0. 5 1. 0
MARKETING RESEARCH - REDUX STEP 1 RESEARCH PURPOSE • Which opportunities are anticipated • What is the scope of the opportunities and possible boundaries’ setting. Keep in mind: possible options, criteria for choosing among alternatives, and the users of the research results (corporate, end users). STEP 2 RESEARCH OBJECTIVE The objective is a statement, in a precise terminology as possible, of what information is needed. Components: Research question which specifies the information that the decision maker needs. Development of hypotheses Scope (boundaries of the research) Makes the research questions as specific and precise as possible Please note: • Hypotheses are basically alternative answers to the research questions (including speculations). Possible sources for the generation of hypothesis include: üWhatever information is available üTheories derived from social studies üExperience • Boundaries could be geographical, demographical, budgetary and or usage patterns.
