Consumer Behavior
The following history shows how over six decades KEA went from the woods of southern Sweden to being a major retail experience in 40 countries/territories around the world. The KEA story begins in 1926 when founder Angina Kampala is born in SMSҐland in southern Sweden. He is raised on ‘Elementary’, a farm near the small village of Quandary. Even as a young boy Angina knows he wants to develop a business. Sales History the KEA Group has grown Into a global retail brand with 127,000 co-workers In 41 entries generating annual sales of more than 23.
1 billion EURO. Despite the 21. 8 billion Euro. The net profit increased by 1 % to ‚¬2. Billion, compared to the previous fiscal year. The main part of the profit was re-invested in existing, relocated and new KEA stores, as well as in factories and retail centers.
“Good profitability is needed to carry out our extensive growth program on existing as well as new markets, to give more people access to the KEA range. Sustained profitability is also enabling us, through KEA Social Initiative, to finance a number of Social projects that e. G. Non will have benefited 100 million children”, says KEA Group President and CEO Mikhail Olsson. During PAYOFF sales grew by 7.
7% to ‚¬23. 1 billion.
The profit level of PAYOFF will be published at a later date. Today, the KEA Group has released its first Yearly Summary. It covers the PAYOFF and comments also on figures and developments for PAYOFF.
The Yearly Summary, called “Welcome inside”, is now available on www. Kea. Com Target Markets The Swedish approach to design is also the basis of the KEA range, which to this day is developed in Sweden. The home furnishings are modern but not trendy, functional et attractive, human-centered and child-friendly and represent the fresh, healthy Swedish lifestyle through their carefully chosen colors and materials.
These ideas are closely linked to KEA origins in SMSҐland southern Sweden, where the people have a reputation for working hard, living on little and making the best possible use of the limited resources they have.
Positioning Brand Review ( the product/service that constitutes the focus of the campaign ) KEA offers a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. This is the idea at the heart of everything KEA does, from product development and purchases to how we sell our products in KEA stores globally.
Anybody can make a good-quality product for a high price, or a poor-quality product for a low price. But to make good products at low prices, you need to develop methods that are both cost-effective and innovative. This has been the focus of KEA since its beginnings in SMSҐland, Sweden Maximizing the use of raw materials and production adaptation to meet people’s needs and preferences has meant that our costs are low. The KEA way of doing things is to pass these cost savings on to you, our customers.
Description Market Share, Sales, Growth SOOT Key Benefits Brand Image Direct and Indirect Competitors Budgets Current Advertising, Sales Promotion, Public Relations, and Direct Marketing Programs Message Strategies Media Strategies Overall Assessment Buyer Analysis User Profile (demographic, geographic, cryptographic, behaviorist’s factors) Buying Decision Process Who Buys the Product Who Influences the Purchase Decision Who Makes the Decision Decision Criteria Marketing Goals Marketing goals are what is to be accomplished by the overall marketing program.
The situation analysis is the foundation for the marketing goals. They are defined in terms of one or some combination of the following: Market Share Sales Revenue Profit Return on Investment Sales Volume Marketing goals and communications objectives are not the same. Marketing goals establish a framework for the determination of communications objectives. Promotional Program Situation Analysis Review of Existing/Past Programs – Detailed Review of Previous and Current Promotion Programs for the Product or
Service, including Budgets, Promotion Mix, Message Strategies, and Media Strategies MIMIC Objectives and Strategies A statement of what the marketing communications program will accomplish – the role the program will play in the marketing effort.
MIMIC objectives involve a desired audience response, which results from the process of consumer decision making, useful frameworks for planners are the response hierarchy/funnel models discussed in Chapters 5 and 7 of the text.
Example Objectives: Awareness Objectives : used when most of the target audience is unaware of he product, service or brand or when awareness levels need to be increased Knowledge Objectives : used when the target audience has awareness, but knows little beyond that Liking Objectives : used when the target audience knows the company and its product, but does not look favorably on it Preference Objectives : used when the target audience is aware of the product, knows about it, and likes it – but does not prefer it to other brands Conviction Objectives : used when the target audience may prefer the product but is not convinced that it is the best choice for them Purchase (I. E. Action ) Objectives : used when the Creative Recommendations The Copy Platform (which includes the following) Advertising Objectives ( what the advertising is supposed to do ) Example : To increase awareness Example : To persuade the target audience that Message Strategy (what the advertising is attempting to communicate; I. E. , the benefit, problem solution or other advantage that is the value of the product physical or psychological ) Example : Use of this product will allow you to recover more quickly after strenuous exercise.
Message Appeals (how the advertising stimulates interest and influences feelings) Example : fear, pleasure, comfort, convenience Media Recommendations Example : Use magazines primarily targeted toward women 25-49. Product placements on specific TV programs Budget Breakdown By Medium (e. G. , magazines, Internet, TV) Example: Use By Media Vehicle (e. G. Business Week, websites, Modern Family ) Sales Promotions Recommendations (Consumer/trade) Objectives Sales Promotion Plan/Timing Rationale Budget Direct Marketing Direct Marketing Plan/Timing Internet/eliminative Strategies/executions Public Relations Strategy/Execution Scheduling/Plan Measurement and Evaluation Measurement and evaluation activities occur during the course of the campaign, as well as at the end.
This section of the proposal should contain a description of those activities and the specific methods that will be used to appraise the individual campaign. Budget Summary This section is a summary of all costs of the campaign (e. G. , media, production, sales promotion, direct marketing, public relations, sponsorship, endorsements, measurement and evaluation expenditures, and more).
The budget should show both dollar and percent-of-total expenditures.
Conclusion A very brief review of your plan and how well it meets your objectives. One page should be sufficient to summarize the factors that make your plan the one that will best get the Job done. Recommendations for the future may be included. Appendices In most cases, this is a very important section of the plan. It will include information and material which have not been fully presented in the text of your plan. Examples: industry data, market data, questionnaires, competitors’ advertisements.
References A complete list of secondary sources used for the campaign plan.
