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RMW Marketing Plan
Transcript of RMW Marketing Plan
Proposed Objectives, Strategies & Tactics
Questions Current Situation Strengths Access to a large pool of loyal customers
Can integrate a product across various platforms
High levels of local understanding
Small regional competitor base
Access to resources for expansion Opportunities New technologies enable creation of better customer experiences
Create better local experiences to create better overall value for advertisers
Creating greater online presence to increase sales revenue from media buyers
Create competitive advantage by having a direct marketing database
Can create better value for advertisers due to increased regional population
Good cash flow enables relationship building Weaknesses Online offering not at full potential
Poor relationship with media buyers
Media buyers unaware of competitive advantage
Lack of active marketing channels
TARPS grid is not user-friendly
Consumer website is unappealing Threats Increased competition due to introduction of digital television and radio channels
National Broadband encourages use of other media channels and encourages advertisers to increases online advertising spend
Possibility of new competition taking advantage of growing regional markets
New competition could jeopardies current media and advertising licences and agreements Objective Over 2011 and 2012 increase by 10% spending on RMW’s radio, TV and online products by Australian media buyers. Strategies An advertising campaign targetting relevant media representatives to improve awareness of product offerings. Build stronger relationships with media buyers, planners and strategists through direct personal interaction. Re-create corporate website to be utilised as an effective sales tool and communication channel. Build awareness of new and existing competitive product offerings through regular visual communication with media buyers. Increase attractiveness and interactivity of theradio.com websites to increase brand value. 1 2 3 4 5 An advertising campaign targetting relevant media representatives to improve awareness of product offerings Build stronger relationships with media buyers, planners and strategists through direct personal interaction. Re-create corporate website to be utilised as an effective sales tool and communication channel. Build awareness of new and existing competitive product offerings through regular visual communication with media buyers. Increase attractiveness and interactivity of theradio.com websites to increase brand value. Research indicates that to flourish in this industry you must be relevant and in the front of mind of buyers.
Generate goodwill for RMW as a brand and create awareness and product recall through highlighting key areas of competitive advantage.
Promote the name to new customers and enhance the name to current customers.
Running print ads in relevant industry publications such as Adnews, Mumbrella and B&T.
Sponsoring the next AIMIA event. cost $36,000 gain $2.08m RMW have a very strong product with media channels covering a massive portion of regional Australia.
Research with Australian media buyers found:
> they rely heavily on relationships with media providers when making buying decision.
> relationships with RMW's sales representatives were far weaker than with metropolitan competitors.
Will improve relationships through increased face-to-face contact.
Undertake corporate hospitality, monthly media agency visits and half-yearly agency presentations. cost $225,769 gain $20.84m Online shopping is the new offline shopping.
Buyer and purchaser are different.
One regularly updated source.
Web widget or flash program.
Direct marketing database for strategy 5.
Many benefits of interactive websites. cost $45,000 gain $25m Draw media buyers, companies and end consumers to engage in daily interactive offerings.
Focus on regional offerings to build a strong regional consumer base.
> Daily Deal Buster will draw consistent, daily traffic to the website.
Increase value of RMW's online media offerings for media buyers, companies and end consumers through localising and improving this interactive medium. cost $4500 gain $8.3m Direct marketing to increase awareness
Enhancing other marketing strategies
Simple, effective, cheap cost $6,600 Budget summary total gains $56.4m
13.5% of Revenue Questions?