EXAMPLE: CREATIVE STRATEGY STATEMENT
Market Target
Current users of chewable antacid tablets, primarily the O-T-C
brands, Tums, Rolaids, and DiGel.
Symptom Targets
Heartburn is the symptom target for three major reasons:
1.
2.
3.
Heartburn as a symptom has not been preempted by another
brand, Tums, Rolaids, or Digel.
The major thrust of the product’s difference and the creative
strategy is speed of relief, the primary concern of heartburn
sufferers.
Effervescent type products are not used in significant
quantities in the treatment of heartburn, thus cannibalization of
Alka-Seltzer will be minimized.
Core Selling Proposition
Gives the heartburn high speed relief.
EXAMPLE: CREATIVE STRATEGY STATEMENT
(continued)
Strategy Definition
The only antacid table offering superior palatability and
superior efficacy; i.e., speed of relief.
1.
2.
Support the efficacy claim, explaining that it
disintegrates rapidly to get to work in your stomach
fast.
Support the palatability by referring to its cool,
creamy taste.
Subordinate to the texture support palatability by referring
to cool and creamy taste.
Product Features
The product is a chewable antacid tablet with a difference.
It is formulated to disintegrate fast; i.e., “it’s built to fall
apart,” therefore, it goes to work fast.
This superiority offers the consumer two distinct benefits to
help relieve his heartburn.
1.
2.
Superior efficacy, i.e., it disintegrates fast to get to
work on your heartburn fast.
Superior palatability; i.e., a smooth, finer-textured
tablet that “chews fast.”
Idea Sources and Methods for Generation
METHODS TO GENERATE IDEAS
SOURCES OF IDEAS
•Patents & Inventions
•Competition
•Acquisitions
•Market Needs
•Users Solutions
•Technology
•Engineering
•Management &
Employees
•Direct Search
•Exploratory Consumer Studies
•Facilitate Users Solutions
•Technological Information &
Forecasting
•Consumer Engineering
•Individual Incentives
•Creative Group Methods
NEW PRODUCT IDEAS
•Concept
•Prototype
•Product
A summary of the proposal’s financial and risk
characteristics
Forecasts
Probability of Being Within + 0.1 Estimate
Development time
Revenue
Unit cost
Investment
Economic life
0.0
Date of market introduction
Probability of technical success
Probability of market success
Expected economic life
Project index = (A x B) =
A=
Average annual before tax profit
average investment
= average annual return on investment
B=
(probability of technical success) x
(probability of market success) x
economic life
Years to:
Positive after tax profit
Positive cumulative net cash flow
Net present worth (at ______% ) =
Rate of return
0.5
1.0
MARKETING RESEARCH - REDUX
STEP 1
RESEARCH PURPOSE
•Which opportunities are anticipated
•What is the scope of the opportunities and possible boundaries’ setting.
Keep in mind: possible options, criteria for choosing among alternatives,
and the users of the research results (corporate, end users).
STEP 2
RESEARCH OBJECTIVE
The objective is a statement, in a precise terminology as possible, of what information
is
needed.
Components:
Research question which specifies the information that the decision maker needs.
Development of hypotheses
Scope (boundaries of the research)
Makes the research questions
as specific and precise as
possible
Please note:
•Hypotheses are basically alternative answers to the research questions (including
speculations). Possible sources for the generation of hypothesis include:
Whatever information is available
Theories derived from social studies
Experience
•Boundaries could be geographical, demographical, budgetary and or usage patterns.