Back online, hoping to finish part one of my journal before I attend the 2nd lecture session... :)
The polling for the product category has closed last nite... sad to see that only 34 people in a class of nearly 60 voted - of those who voted: 6% wanted to do it on the media sector and 12% on films and sports teams... we have to finalise the product category today in class! Have thrown my name into the hat to become the "CEO" of group 1's ad agency... I think I am up for it! My group has a lot of talented people: some names that come to mind instantly are Viral, Ajay A, Mahadevan, Anupama, Ajay Rao - infact Maddy and Anupama actually got the "hierarchy" sorted out - kudos to them. Saurabh has made his bid to become the CEO of the other group... ab ayega maza!
Last time I ended by mentioning the 6M model of a campaign... the 6M model aims to measure a campaign on:
(i) Mission: what does the campaign intend to do - launch / relaunch / reposition a brand?
(ii) Message: this is drawn directly from the mission and is a function of the stage of PLC that the brand is in...
- Intro Stage of PLC => Pioneering Campaign => Message = "I have arrived, you need me." and it talks of the features of the product
- Growth Stage of PLC => Competitive Campaign => Message = "I am different, buy me" and it talks of the benefits of the product + fights for share of market
- Maturity Stage of PLC => Retentive Campaign => Message = "I am still here" and it talks of additional benefits of the product + aims at recall + fights for share of voice
- In case of rebranding / relaunch, the PLC of the product restarts and the Intro & Growth phases are crunched
Now based on the message and of course the intended recepients of the message - the target audience - the campaign would have to decide the following:
(iii) Media: the vehicles that would be used to take the message to the intended recepients
(iv) Money: the budget in hand to do so
(v) Market: the market for the product
All the above 3 factors are inter-related since if the money is a constraint, then the media used would be contrained - if more media are required, the budget would move north - also, the market would determine the media and thus in turn the money...
(vi) Measurement: the final part of the model that quantifies the success of the campaign and seeks to find out whether the campaign has been effective or not...
Sachin & I were working on our campaign dissection assignment and this model works like a charm... will upload the assignment once we submit it... it should illustrate how well the 6M model works!
Cheerio... I think I can make it in time for class now :)