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Business Consulting For The 21st Century Via A Holistic & Intelligent Approach

What Sticks – Chapter 15

Consumed => “What Sticks – Chapter 15 (Media Optimization: Getting More Bang for Your Buck)” by Rex Briggs and Greg Stuart.

— We agrue, based on our experience, that the right research can make the difference between marketing success and failure. Most marketers recognize outright failure. For example, the Ford Edsel.

— Instead of spending millions on listening and learning about the market, it spent millions on a campaign to launch the product it had developed in isolation. In this sense, the Edsel story is a classic of what so often goes wrong in a silo-based enterprise. Organization and ego got in the way of sound decision making.

— Edsel is a reminder to marketers to listen to the consumer.

— Living in the space between success and failure are campaigns that look successful enough for marketers to claim victory, when in fact they are suboptimal and costing companies billions.

Marketing may very well be the next frontier for productivity.

— We believe that top management’s demand for better marketing ROI will make heroes out of those who deliver marketing productivity.

Consumer-media consumption is changing and that more media choice for the consumer has meant more fragmentation for the marketing plan. Value add: Diversity might be a more appropriate word than fragmentation.

— Adaptive marketing aka successful optimization.

— Because the 4Ms build on one another, the marketer must succeed in motivations to have effective messaging. And, the marketer must have effective messaging to have a chance at an effective media mix.

— Increasing the frequency of advertising just increases costs; it doesn’t produce much incremental value.

— Knowing what the actual cost effectiveness of your brand is at different frequency levels for each medium is critical.

— The purchase funnel is a standard way that most automotive brands think about marketing.

— Upper funnel: Ad recall, familiarity and then brand image.

— Lower funnel: Purchase consideration, shopping and finally purchase intention.

— As one Ford executive who saw the results put it, TV spending is like holding a bull by the horns: You’re not at all happy to be holding on, but you’re not about to let go for fear of what might happen.

— The point of analysis is not just to determine success but to also address cost efficiency.

— Small adjustments in the allocation of media can have significant impact on sales.

— The Ford F-150 magazine ads featured the best-practice use of white background with plenty of white space around an interesting visual of the truck and strong clear copy.

— Examining the productivity of marketing can no longer be ignored.

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