Comparing marketing communications campaigns

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Answer - by weighing up the "hard" and "soft" benefits of each, and comparing them with your objectives.

Key action points

You have several market segments or product categories you are developing. Some are more valuable than others.

You have devised marketing communications campaigns for these different segments / products:

• Beforehand – which do you invest in, and to what extent?
• Afterwards – which was the best value for money?

You have two types of desired outcomes:

1. Hard benefits – customer behaviour: awareness, consideration, trial, repeat purchase, continued purchase, purchase your brand most often
2. Soft benefits – customer attitudes: respect for your brand, intimacy with your brand, viewing your offer as compelling

You create objectives for each campaign according to the desired outcomes.

This tool is designed to guide you through the decision-making and assessment process.

In more detail ....

The value for money equation is based on the answer to two questions:

1. Relative Perceived Quality - "How do you perceive the quality of Brand A/B/C/D? - very poor, poor, average, good, very good, excellent"
2. Relative Perceived Price - "How cheap or expensive do you think Brand A/B/C/D is? - very attractively priced, attractively priced, average, expensive, very expensive, outrageously expensive"

The key issue is not whether any given brand is perceived as good value for money (quality vs. price). It is whether or not it is perceived as being better or worse value for money than the competition.

This tool is not a pricing model - it doesn't tell you how much to charge for your products/services. What is does tell you is whether the value for money you are perceived as offering is in line with the market in general, and each competitor in particular.

In order to use this model, you need to:

• have interviewed the market, asking the relative perceived quality and relative perceived price questions about the appropriate brands
• enter the data for each brand, one row for each interview, into the appropriate sheet, price in column A and quality in column B
• modify the results in the "Calculation" sheet, by % impact, according to how each brand is currently acting to improve its perceived quality or price

Please note that the measure is % impact on the quality or price of the brand, not percentage effort or input. A 10% reduction in price, may not have a 10% impact on the price perception of that brand.

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