Advertising for Oppurtunities and Objectives- myassignmenthelp

Question: Discuss about theAdvertising for Oppurtunities and Setting Objectives. Answer: Advertising Brief Client Name: Amotts Biscuits Ltd. Product/ Service name- Tim Tam biscuits new mixed coffee and chocolate flavour Background Amotts Biscuits Ltd is the largest producer of biscuits in Australia(Amotts, 2017). It is also one of the largest snack food suppliers in the country and abroad(Amotts, 2017). Tim Tam is a brand of Amotts; it is a cream chocolate biscuit popular with children. The brand came into existence in 1958 after being inspired by Britains Penguin Biscuits(Amotts, 2017). Advertising plan needs to be created for a new mixed flavour of Tim Tam which would contain a mix of chocolate and coffee flavour. This new variety would be targeted young students and professional. It would be packaged in small pack sizes so that it can be consumed as a snack. Purpose of the brief- This brief aims at creating an advertisement plan for Tim Tam, a brand of biscuit of Amotts Biscuits Ltd. The brief is meant to create an advertisement plan for a new mix flavour of Tim Tam. The plan will outline advertisement strategies, media and budget for the entire plan. Marketing strategies The new flavour variation of Tim Tam will have the following marketing strategies- Marketing mix for Tim Tams new flavour of coffee and chocolate Product: A mixed coffee and chocolate flavoured biscuit having chocolate cream with a slight flavour of coffee. Place: The product will be sold through retail stores Price: Penetration pricing strategy will be used so that product can be sold to a mass market. $3 for pack of 200g of biscuits will be used Promotion: The product will be promoted through television advertising, print advertising, out of home adverting and online channels. Target Audience Description- Target audience constitutes of the consumer segments to which the marketers want to sell the product. The primary target audience of Tim Tams new mixed flavour are young adult students and secondary target audience is young professionals(Selecting the target audiance, Class notes). Following is a profile of target audience Target Market Profile for Tim Tam Primary target audience Secondary target audience Demographic: Young adult students Geographic: All over Australia Psychographic: For students who like to munch a snack in between studies Behavioural- Product to be used as a snack item Demographic: young professional Geographic: All over Australia Psychographic: Younger generation who prefers snacks in between hectic lifestyle Behavioural- Product to be used as a snack item Source Made by author (2017) adapted from(Selecting the target audiance, Class notes) Consumer Insights Consumer insight helps in interpreting the behaviour of consumers towards a particular product or brand. Needs, wants and aspirations of different consumers are different. Therefore, it is important to find the needs of a particular target customer. Additionally, it is important to identify how the brands consumer base is interpreting the product(Gathering an idea) For Tim Tams new mixed flavour, consumer insight shows that biscuits are one of the most popular snack items for people of all age categories(Amotts, 2017). Especially youth who are students or young professions tend to consumer biscuits frequently as a snack in between studies, work or playtime(Amotts, 2017). Therefore, Tim Tam has come up with this new flavour which combines tastes of youth and children and tries to cater to both these markets through one product. Through this product Tim Tam is also trying to capture the need of the customer to munch a snack in between meals. Target audience weightage- The product is more inclined towards young students hence a priority weightage of 60/40 is to be given to students while selecting media. This weightage is based on the assumption that students tend to eat more biscuits that professionals. Adverting Objectives- Following are the advertising objectives for Tim Tams new mixed chocolate and coffee flavour biscuit(The effects of advertising, class notes) To increase sales of the Tim tam brand to double within three years. To increase the market share of Tim Tam brand by 5 percentage points within the next three years To increase brand awareness through intensive promotional activities so that maximum people in Australia know about the product within the next one year. To create a good brand image and goodwill of the product Creating target market focused advertisements so that firm is able to increase sales volume within the next two years Creating advertisements which are focused on attracting customer to try the product once Advertising should be able to improve brand awareness within one year Advertisement should be able to remind the customer about the product(Appraising Oppurtunities and setting objectives, Class notes) Through achievement of these objectives sales and brand recall of Tim Tam can be enhanced. Advertising Strategy Advertising strategy is the strategy of formulating an Ad campaign to target a specific audience so that they can be persuaded to purchase the product(The effects of advertising, class notes) Direction: Direction of advertising strategy for Tim Tams new mixed coffee and chocolate flavoured biscuit should be to create awareness of the new brand variety. Awareness can be created by giving frequent ads which show product features and product attractiveness. It should also aim to persuade the target audience to try the product(The effects of advertising, class notes). This can be done by making the advertisement catchy and attractive. Additionally, the advertising strategy should aim at reminding the audience about the new biscuit variety. More frequency of Ads will serve this purpose.(Research: Gathering information for advertisment, class notes) Campaign scope- Scope of the advertising strategy would include covering maximum customers in the target audience like children and young adults Suggested Media- Advertisements can be given on various media channels like television, radio, print and bill boards and hoardings(Sample media selection, Class notes). Time and duration: Ads should be given in youth programmes for at least one minute i8n at least two programmes per day(Sample media selection, Class notes). Brand Dimension Brand value- Brand value is the price that the target audience is ready to pay for a brand. As Tim Tim tams standard brad logo and colour will add to the brand value. Tam is a known and popular brand people would be ready to pay $3 to $5 for this brand(The effects of advertising, class notes). Brand personality it the human aspects of a brand. Tim tams new flavours brand personality would be one of excitement and sincerity(The effects of advertising, class notes) Brand tone of voice- Brand tone of voice would be friendly, warm and playful. Unique Selling Proposition (USP) Unique selling proposition is an advertising terminology where a marketer or an advertiser makes a unique proposition to the customer in order to convince the customer to choose their product among the various competing products and brands. USP may also include unique benefits or experience which brand may give to the customer(Appraising Oppurtunities and setting objectives, Class notes) Tim Tams new nixed flavour biscuit with coffee and chocolate is the USP of the new brand variation. The flavour is unique which will appeal to the target market. It can be consumed as party time as well as a tea time snack. The unique flavour gives a competitive advantage to the new biscuits range of Tim Tam as there are very few such innovations in the marker. The new flavour should be able to catch the attention of target market and curiosity amount potential customers due which they will be encouraged to buy the product. Therefore, through this new and innovative mixed flavour, Tim Tam will be able to give a unique selling proposition to the consumers. Competitors Following are the main competitors of Tim Tam biscuits and their relative competitive advantage. Competitors of Tim Tam Competitors Competitive advantage Krafts foods Ltd Strong brand name International presence Marketing and financial power Goodman Fielder Ltd Multi product brand Strong international presence Griffins Food Ltd Eye-catching packaging Good marketing methods Multiple products and flavours Source: Made by author (2017) adapted from(Amotts, 2017) Why the customers will respond positively- Customers will respond positively to this products Ad because of the uniqueness of the product offered. The product is being offered in a new flavour. Also, brand has a pull power as it one of the most popular brand of Australia(Amotts, 2017). Why the customer may not respond There is lot of competition in the biscuits and snack food marker. There are many international firms in the market. The customer may ignore or filter out information about this product. Media considerations Media should be selected as per the target audience usage and needs. That is, that media should be selected which would be viewed and seen by the target audience(Media research, Class notes) As the target audience for Tim Tams new biscuit flavour are young adults, the best media would be television. Showing frequent ads on youth channels like entertainment channels, music channels and sports channels will increase the brand awareness among the target audience. Additionally, youth magazines would be a good channel to pitch the product. Moreover, hoardings near colleges and eating joints would also attract customers(Media: a nessage delivery system, Class notes). Other media which can be used for the advertising campaign are digital and online media. As young students and professional visit social media sites and web portals, online advertising will be effective to generate awareness among them(Media: a nessage delivery system, Class notes). Production of the advertisement should be given to an advertising agency. Major brand consideration for this product is that it is a new variation in the brand hence focus should be on awareness advertising(Media: a nessage delivery system, Class notes). Another major consideration is that the product variation should augment the brand equity and not dilute it. Therefore, media selection for advertisement should be such that they enhance brand awareness, recall and purchase behaviour. Mandatory inclusions- Legal and ethical consideration Marketing and advertising of products in Australia is regulated through legal framework(Government of Australia, 2017). Therefore, Tim Tams new biscuit flavour product also needs to adhere to these legal regulations. Department of information, Innovation and Science of the Government of Australia lays down norms which prohibit advertisers from showing content that is misleading or deceptive(Government of Australia, 2017). Advertisement should show only the true nature of a product and its usage. Therefore, Tim Tams advertisement needs to focus on the actual ingredients, taste and nutritive value of the biscuit. Additionally, Australian Competition and Consumer Commission(ACCC) is the regulatory body of Government of Australia which regulates all competitive, business and trade practices(ACCC, 2017). This body regulates all marketing and advertising activities and prohibits misleading advertising(ACCC, 2017). Therefore, Tim Tams advertisement need to adhere by the codes and norms laid down by ACCC such as non-misleading advertisements, correct information about product content and other features. In addition to legal compliances there are some ethical issues as well which Tim Tams new flavour advertising should adhere to. As the advertisements would be targeted at children, the advertisements should be focused on learning and knowledge addition of children. They should not show any content which can affect the psychology of children like violence or criminal activity. Additionally, it should spread awareness of product and should not have content which misleads the youth. Moreover, it is ethically important to talk about only the true contents of the product and not use misleading information Therefore, by using the above legal and ethical framework good advertising campaign can be created for Tim Tam. Budget Advertising budget is a very essential part of the advertising expense because advertising is a revenue draining activity at the onset which is later expected to generate more revenue. Therefore, proper funds need to be allocated to all aspects of the advertising campaign. First of all a certain part of sales revenue should be kept aside for meeting the advertising expenses(Advertising brief: reasons for content, Class notes). Following is the budget of advertising campaign of Tim Tams new mixed flavour. This budget has been calculated through the objectives based method where all those activities and their expenses are worked out which are needed to meet the advertising objectives Budget of Advertisements for Tim Tam Expenses Approximate projected cost in December 2017 Campaign Development $2500 Production $7500 Media selection Television 100 Ads per week on children and sports televise channels Radio One Radio spot per day on a youth based show or celebrity interview Print Magazines Full page Ad on two youth magazine per month Total media expense $10,000 $10,000 $5000 $25,000 Monitoring and Research $5000 Agency fees $10,000 Total $50,000 Table 1: Source: Made by student (2017) This is approximate monthly expenditure for advertising of Tim Tams new flavour variety. This amount can be kept aside from sales revenue to meet the advertising budget demand Timing Proposal due dates- 18th Nov 2017 Proposal approval date: 25th Nov 2017 Final creative approval- 28th Nov 2017 Campaign launch- 1st Dec 2017 Campaign finish- 31st Dec 2017 Bibliography ACCC. (2017). Advertising and Promotion. Retrieved November 13, 2017, from https://www.accc.gov.au/business/advertising-promoting-your-business Advertising brief: reasons for content. (Class notes). Amotts. (2017). About us. Retrieved November 13, 2017, from www.arnotts.com.au/ Amotts. (2017). Tim Tam. Retrieved November 13, 2017, from www.arnotts.com.au/products/tim-tam/ Appraising Oppurtunities and setting objectives. (Class notes). Gathering an idea. (n.d.). Class notes. Government of Australia. (2017). Legal obligations of marketing. Retrieved November 13, 2017, from https://www.business.gov.au/info/plan-and-start/develop-your-business-plans/marketing/legal-obligations-of-marketing Media research. (Class notes). Media: a nessage delivery system. (Class notes). class notes. Research: Gathering information for advertisment. (class notes). Sample media selection. (Class notes). Selecting the target audiance. (Class notes). The effects of advertising. (class notes). class notes.