To be the most innovative and customer-centric bank in Vietnam

2012 Retail Marketing Workshop The Single Minded Value Proposition & How to develop a quality concept for marketing campaign

Hoang Chi Son

The heart of banking

February 2012

HOW TO DEVELOP THE SINGLE MINDED VALUE PROPOSITION

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How to develop The Single minded value proposition

Brand/ product

Target customer group

Customer needs

Competitive Framework

Benefit/ point of difference

Reason-Why

Brand Character

The single minded value proposition statement

Positioning Matrix

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1.

Target customer group

Demographics: age, sex, Current usage habits: Need mindset : A precise definition of target customer portrait: Demographic + Current usage habits + Need mindset FX: 25 34 year old male beer drinkers who are on the make and would like to impress others with their seeming sophistication. Pepsi Cola: People who think young! Microsolft: Computer users who want to avoid mistakes and be covered with the standard in technology. Crest Toothpaste: Moms concerned about their families oral health care, particularly the avoidance of cavities for their children.

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2.

Target customer group

Functional needs ( nhu cu l tnh): Emotional needs ( nhu cu cm xc): For example: - Functional needs:
I want a bolder, more robust tasting coffee, I am looking for more ways to mix my coffee drinks

Emotional needs:
I look at coffee time as a true relaxed time-> what I m seeing is coffee entertainment. I choose this bank because it makes me feel safe

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3.

Competitive framework

Sn phm/category cnh tranh: Nhn din khong 3 i th cnh tranh chnh trong cng 1 nhm khch hng mc tiu (target customer group) chng ta la chn target. H cnh tranh chnh da trn yu t li th cnh tranh no?

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4.

Benefit / point of difference

Xc nh li ch/ c tnh - im ni tri no gip cho sn phm chng ta tt hn/ khc bit so vi sn phm ca i th cnh. im ny c quan trng v ngha i vi khch hng ( tng thch vi nhu cu khch hng m c la chn trn). im ny phi da trn kh nng chng ta c th deliver ti khch hng mt cch tt hn so vi i th cnh tranh trong cng phn khc th trng la chn (target customer group).

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4.

Reason-why

Cung cp cho khch hng nhng l do khch hng tin tng hoc c thuyt phc l chng ta c th deliver benefit/ point of difference c la chn ti khch hng nh cam kt. C 2 cch thc to credibility:
Reason why: Bn thn trong sn phm : thit k, quy trnh, cng ngh, dch v, con ngi. Permission to believe: Endorsements: Claim research: Source: brand equity,

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5.

Judgment

nh gi li tnh tng thch hp l v mt logic gia cc yu t trong ma trn trn: Target customer group v customer needs Customer needs v benefit/point of difference. Benefit / point of difference v reason - why

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5.

The single minded value proposition statement:

Suy ngh v sng to to ra mt cu xc tch i din cho sn phm (th hin c cc yu t trong ma trn).

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HOW TO DEVELOP A QUALITY CONCEPT FOR MARKETING CAMPAIGN

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How to develop a quality marketing concept

1. 2. 3. 4. 5. 6. Review marketing objectives. Identify target audiences Customer insight through process Key Components of a quality marketing concept How to evaluate a quality marketing concept. How to write a quality creative brief

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1. Marketing objective & 2. Target audiences

1.

Review marketing objectives.

Chng ta cn phi xc nh mc tiu marketing ca campaign l g v cn phi c s xc nh u tin rt r trc khi bt tay pht trin mt marketing concept. The recruitment of new customers. The retention of existing customers. The winning back/reactivation of previous customers. Also for cross-sell/up-sell opportunities.

2.

Identify target audiences:

1. 2. Cn xc nh r khn gi mc tiu ca campaign trc khi chng ta tin hnh tm customer insights. Khn gi mc tiu phi ph hp vi mc tiu marketing v thuc trong the target customer group ca nh v sn phm.

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3.

Customer insight thought process tool

Target audience:
Current belief:
xc nh lng tin hin ti ca khch hng m dn n hnh vi khch hng cha hoc hn ch mua & s dng sn phm

Compelling future belief: Customer insight:

Hiu c nhng suy ngh , s tht ngm hiu cha c khai ph/cha c ni ra m dn n hnh vi khch hng tng lai mun c xc lp Lng tin tng lai ca khch hng mun c xc lp

Leads to

Current behavior
Hnh vi mua sn phm khng c nh mong mun ca chng ta bt ngun t lng tin khch hng hin ti

Critical to achievement of Marketing objective of marketing campaign

Desired future behavior:

Hnh vi mua tng lai ca khch hng mong mun c xc lp

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4.

Components of a quality marketing concept

Convince who : target audience & customer insight

That What: Benefit/belief

Because Why-reason: Why/Support for the belief

A theme statement

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5.
1. 2. 3. 4. 5. 6. 7.

How to evaluate a quality marketing concept

Relevance N ph hp vi bi cnh & nhu cu khch hng trong mt phn khc th trng c th Communication easy to understand and to communicate Credibility khch hng c tin tng l chng ta c th deliver benefit/concept nh c cam kt Interesting khch hng thch hay khng thch, c li cun s ch . Unique khc bit so vi nhng offer ca i th cnh tranh. Associations c lin tng n nh v sn phm/thng hiu. Purchase intention n c thc y khch hng n hnh vi quyt nh mua v s dng sn phm ca chng ta theo yu cu.

Lun thc hin nh gi cht lng tng da trn nhng tiu ch trn qua khch hng : focus group, customer visit, customer surveys.
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For Example
Target audience: Cost conscious moms of large blue collar families with active children, who wash so frequently they wear
out their families clothes

Current belief:
All heavy duty detergents get Clothes clean but they also Damage fabrics

Customer insight:
The kind really get their clothes Dirty. I have to wash so often I actually wear their clothes out So I cant afford to buy new Clothes all the time or pay For a detergent that doesnt Clean any better than less Costly brands

Compelling future belief:

Tide gets clothes their cleanest Keeps them looking new

Leads to

Current behavior
Purchase brands within Current evoked set based Upon available store Consumer incentives

Critical to achievement of Marketing objective of marketing campaign

Desired future behavior:

Purchase Tide for all Laundry care needs regardless Of competitive incentives

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For Example

A Concept Tide Advertising Strategy

Target audience: cost-conscious moms of large blue collar families with active children, who wash so frequently they wear out their family clothes Customer insight: the kids really get their clothes dirty. I have to wash so often I actually wear their clothes out. So I cant afford to buy new clothes all the time or pay for a detergent that doesnt clean any better than less costly brand. That (what benefit/belief): Tide gets clothes their cleanest and keeps them looking new. Because (why-Reason/support): Improved Tide formulation powers out stains while keeping clothes from fading or fraying; and Trusted and endorsed by the Cotton Association.

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6.

How to write a quality creative brief

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