<Guest Speaker Series - Reflections>
When embarking on any project, it's cardinal to begin by comprehending the project requirements before moving on to strategic planning. The term "strategy” encompasses various aspects, as highlighted by Charlie Lowe Chief Strategy Officer at SEA, McCann Worldgroup, who outlined 6Cs:
1. Culture (current/ongoing trends),
2. Category,
3. Company (understanding company values/principles),
4. Consumer (preferences, attitudes, pain points),
5. Connections (consumer-brand interaction, brand impression), and
6. Conscious Inclusion (inclusivity).
What resonated with me was the emphasis on thorough research to gain a comprehensive understanding of the brand’s situation. Factors such as competitor analysis, market trends, consumer preferences, and brand perception can significantly impact a brand's success. This reminds me that brand like Cola and Pepsi or even BMW and Mercedes have been each other’s best competitors, and it’s always interesting to see how they understand each other well, and always trying to outdo each other in a witty manner. For example, BMW’s ad on the retirement of Mercedes CEO (https://lnkd.in/gdadAU2G).
As my team and I prepare for the DnAD competition, Mr. Lowe's advice on the proactive nature of insights struck a chord. Insights are not merely waiting to be discovered; they often stem from observations, thoughts, and analysis. This is particularly relevant to us as we conducted research on Durex to delve deeper into the brand, its products, values, competitors, and consumer preferences. For instance, one observation from our research was that although Durex invests heavily in branding and advertising, it still isn’t the top choice among consumers in the USA. Stay tuned as we continue to develop our insights based on our ongoing research!
Thanks Prof Pei Wen Wong for organising this insightful guest speaker session!
#MC6348 #IssuesInAdvertising #NTU #WKW #Masterofmediaandcommunication
Marketing Executive | Advisory Board Member | Mentor
4moThank you so much for your partnership and for joining us!