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MIP-509

Session 15
by

Chris Carney

on 25 June 2018

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Transcript of MIP-509

Logo
Research
Last week, we defined Market Research and put this in the context of Music Business
Objectives
Supporting Documentation
You are required to produce
The Brief
Practical assessment
This is a practical assessment during which you will be asked to develop and present an innovative, creative marketing campaign for ACM’s summer live Event (17-20 July) for either:

● An emerging artist,
● A new product
● Or service

that makes use of modern data analytics to provide decision making support and marketing methodology that responds to modern consumer desires and behaviours.

Your choice will need to be agreed with your tutor before you commence.
MIP-509
Seminar
MIP-509
Assessment Overview
Marketing Strategies & Connected Communities
Week 8:1
- Assessment Brief Overview
- Research, Objectives
Marketing Strategies and Connected Communities
100%
Live marketing campaign
Monday 30th July, by 3pm
Canvas upload
A fully referenced campaign document.

● Evidence of measurement of the data/ROI post event This can be within the campaign document itself.

● Appendices where appropriate containing Gantt charts, email threads, photograph/sketches, notes and other evidence showing project development.
Support your work with a range of sources. Include a bibliography (these do not count towards the word count).
Learning Outcomes
Setting Objectives is a mandatory step in the planning process.
A marketing objective is the quantification of what an organisation sells (its products) and to whom (its markets).
(McDonald, 1984)
https://www.amazon.co.uk/Marketing-Plans-How-Prepare-Them/dp/0470669977
How to Set Marketing Objectives
The Ansoff Matrix
The Ansoff Matrix is about what is being sold and who it is being sold to. Simplified it identifies 4 possible actions:

1) Selling existing products to existing markets.
2) Extending existing products to new markets.
3) Developing new products for existing markets.
4) Developing new products for new markets.
How to Set Marketing Objectives
Influences on Objectives & Strategy
Stakeholders –
e.g. shareholders who will hold a view on company direction and rate of progress, and perhaps intermediaries and employees, and of course customers.
Corporate governance –
companies have to observe guidelines on corporate governance, which can influence what they can and can’t do e.g. regulations affecting financial services and the duties of directors
Business ethics –
likewise individuals are expected to serve with integrity and honesty.
Organizational culture –
organizations are a complex mixture of cultural and political groups and processes. These may influence the way a company views its mission statement and decides on its objectives.
https://blog.oxfordcollegeofmarketing.com/2013/02/07/marketing-planning-influences-on-objectives-and-strategy/
How to Set Marketing Objectives
When you’re setting up your objectives the first thing you need to focus on is: what is your overarching marketing objective?
For the purpose of your Assessment, a quick Q&A on what this is? e.g. Increase Engagement, Attendance at a Gig, Release Product
You can set small objectives (SMART Goals) within the strategy time frame that a specific to the overall objective.
It's your mandate
to have a clear
record of what
you set out to
achieve in order to
prove that this was the case
How do we research our specific area of interest in regards to our chosen subject for the assessment?
Competitive Analysis
Covered in Week 7 Seminar 2
By knowing your competitors & their activities, we can inform our own strategies. Some things to consider:
1) Their online presence.
2) Their recent products/gigs and the success of those.
3) Their brand
4) Their USP
The Industry Landscape
Having a good scope of the industry as a whole will inform your strategy exponentially.
Read Music Blogs, Articles, New Stories and Up to Date Published Papers related to your chosen subject.
Seek out examples of innovative marketing campaigns including the use of new media and guerrilla
tactics.
Simply put: Go into your plan with an informed opinion on the best way forward.
A Detailed Overview
of Your Subject
Learn everything you possibly can about your artist, product or service.

Perform a detailed 4 P's analysis.

If it's an individual or band, work directly with them. Everything you decide upon should really be informed by them.

Learn who their audience are and what their habits are: Buying, Spending, Attending, Lifestyle, Social Media Platforms.....
Create a YouGov profile (To Be Covered in Seminar)
Only by conducting detailed research can you set strong objectives for your campaign.
Research & Objectives
The brief calls for an 'innovative' campaign and this is not easy in a world where many great ideas have been done and done some more...
All of the tactics in the video below would have clear research and objectives....
Task 1: Make a YouGov profile:
https://yougov.co.uk/profileslite#/
This is a very simple and practical tool for helping us define audience segmentation. Try this out. Work with a partner if it helps inform.
The way in which the engine works means that the trickiest part is finding a Brand, Person, Thing that will give you a true idea of your potential audience profile.

e.g. Try a similar but well established Artist to yours.
Feedback to class on 3 possible common attributes you've learned about your subject
Seminar
Task 2
Work in small groups (3) to come up with an innovative
marketing activity which successfully combines 2 common attributes of one of your audience profiles and link it to a clear objective for the campaign of one of the group members.

Try to come up with one for each group member in the given time so perhaps try focusing on 1 group member campaign for 10 minutes at a time.
There should be time so that everyone can feedback their ideas to the whole group at the end.
Full transcript