The Oscars.
The Academy Awards.
It’s this Sunday night. TV spots cost $2 Million.
It always has buzz or
some buzz. The pandemic has changed everything.
It’s a not a trick question, "Who's the biggest advertiser?" The answer is ABC
and its shows. Total number of TV spots.
Other than the Super Bowl and specific NFL
Football games, the Oscar’s are the second biggest audience of upscale, higher
income, sophisticated, better educated “people,” one of my 9P's of marketing
The other advertisers will be Verizon, Grey Goose, Google, AARP, Eli Lilly, Apple, Corona, Kellogg, P&G, Apple, Rolex, GSK, Mars, Subway, Freshpet, apartments.com, Accenture, Cadillac, Expedia, Airbnb, Starbucks, who have been announced.
Their media buyers are looking for ABC to deliver highly coveted
audiences or target markets, which I use the term, "People." The Oscars bring special moments, live to the viewers and to the advertisers.
Sunday's event, Cadillac will use the Oscars to introduce the LYRIQ, their first electric crossover vehicle.
Oscars are an important cultural event. For
advertisers, they will pay about $2M for a 30-second tv spot or approximately 66K a second.
Advertisers who spent the most? They were Cadillac, Verizon, Google and Rolex, They spent more than $24 million combined.
I teach there are many ways under "Promotion" to use those promotional dollars.
Need more insights into true and Marketing and advertising? Including smart triva? Visit right here.
I am a senior Forensic Marketing Expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC plus
I own a copyright for the Nine P’s/9 P's ©2007 concepts and practice, which augments the Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
The Nine P's/9P's help identify marketing problems in a number of areas and help develop marketing’s objectives, strategies, tactics and solutions. The Nine P's are insightful. In Marketing. the "Customer," or potential customers are king, but are missing in the 4P's. There needs to be more focus on the "Customer," or "People." "People," market segments utilizing demographics, geographics, psychographics, behavioral characteristics and technographics are a vital component of the 9P's.
I consult and teach using the concepts and practices of the Nine P's/9P's of Marketing.
In the study and practice of Marketing, Marketing and Brand Managers develop plans, strategies and tactics. The Nine P’s include these important components:
- People (Segmentation and Targeting)
- Potential Cadillac buyers, telephone or smart phone buyers and others consumers.
- In my 9P's, I stress that firms need to look and analyze potential, new, existing and repeat customers and users.
- Brand managers need to look at at their customers and/or potential users. Do you understand your potential customer's purchase and usage touchpoints, their habits and how they engage with your brand? Competing for their attention?
- "People" or targeting has almost always been left out of the traditional "Marketing Mix," almost every diagram includes the four P's with Product, Promotion, Place and Price.
- Place "consumer" or "People" or "potential buyers" in the middle of a circle. Find information or data on them. Add the other components in the nine P's.
- In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the buyer, "customer," or "People," in both planning ad implementation.
- To understand your "People" or market segments, it may utilize many characteristics, including demographics (such as age, family size, family life cycle, gender, income, occupation, education, religion, race, culture, generation, nationality, and social class), geographics, psychographics (buyers are on basis of psychological/personality traits, lifecycle, values), behavioral characteristics (needs and benefits, decision roles, user and usage-related variables, occasions, user status, usage rate buyer-readiness stage, loyalty status, attitude and multiple bases) and technographics (potential buyers may or may not have the software and computer skills. Think employees here too, which may be a vital component or components of the 9P's of Marketing.
- Once a target market is chosen, the organization can develop its marketing strategies to target a market segment or marketing segments.
- Simply it's about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.
- Product and Services
- Under the 9P's, it's the goods and service combination the firm offers to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
- A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
- Place (Distribution)
- Price:
- An IBM study found that Nearly six in 10 consumers ("People") surveyed are willing to change their buying habits to reduce environmental impact. Over 70% would pay a premium of 35%, on average, for brands and products that are sustainable and environmentally responsible.
- Planning
- Promotion:
- There are eight (8) major, strategic components or communication elements which are personal and non-personal communication activities.
- The activities that communicate the merits of the overall product include:
- Personal Selling/ Sales Force: Sales persons
- Listen more than you talk. People who listen more, learn more, plus helps you position your service/product/solution or offering.
- Advertising: There's an expression "It is only creative if the product or service sells." I wanted to add "It is only good media spending if it sells."
- Sales Promotion
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising)
- Interactive/Internet/Web, Digital Media, Social Media:
- Events and Experiences
- Public Relations/PR
- Here are some strategic comments and questions under Promotion:
- The Oscars and their audience, TV viewers and moving-goers are unique. Different.
- To whom should you target and promote? Under "People"/Targeting, target market, audience with media characteristics fall here.
- What should you promote? Strategic copy points.
- Evaluate the eight different elements under Promotion and your brand's practices. That affects media planning.
- Ask is there a better way? A different promotional mix. There has to be a better way.
- What are your costs in dollars and manpower or person power? Ask "Is there a different way or ways to budget?"
- Look at different strategic partners? Their costs?
- You can differentiate with price. Discounting? Special sales? What economic and discount levels should you offer? Look at revenue versus costs.
- What form or combination of promotion should you offer? Features?
- How frequent? Add media planning here.
- Partners
- Presentation:
- Consumers are voting with their wallets.
- Some research says that consumers or my "People" care about business and their brands that have a social conscience (for the environment, for their workers, for societal issues, etc.).
- These "People" are actually prepared to pay more for these brands. They will support the brands that do, and ditch brands that don’t.
- It's been reported that consumers or "people" are socially aware about how brands, products and businesses behave.
- Deloitte found that “62% of customers said that they are more likely to spend with companies who have taken extra steps to ensure the safety and well-being of their employees during lockdown.”
- Passion
For more on ideas, concepts and Marketing solutions: Go to LondreMarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 54 stimulating questions and answers at Londre Marketing Consultants, LLC. Here to help. All the best.