Unit 3 IP Branding Strategies
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Advertising and Public Relations
MKTG320-1804A-02
Unit 3 IP
Dr. D. Glazer
Alvin D. Nelson
October 23, 2018
Create a branding strategy According to the FDIC, as of February 2014, there were over sixty-five hundred banks located in the United States. (Quora, n.d.) Some of these banks have been in business well over 50 years. This is where I think we will succeed. They’ve grown so large that they have forgotten how to be local, how to relate to the needs of the people. Our bank needs to stand out among giants in this industry. We will focus on distinct brand recognition and detailed aggressive public
relations strategies. Our ideas are that we want to be on the minds of our targeted segments when
they think of banking and investments. Our targeted demographics are the young African-
American college graduates; this is the fastest growing demographic of potential investors in our analysis. With 34.6% of African-American women in 2017 with college degrees, ages 21through
26, this segment are the ones that are eager to invest in new businesses, ones that will get those jobs that will give them very little retirement benefits, and those that will seek a new home and car loans. (Statista, n.d.) We will seek to partner with businesses to offer new retirement options offered by our company for their newer employees that match our targeted segment.
Create high-level advertising and public relations strategies
Our strategies are to first create a budget, out of pocket cost, transportation, materials and staff time are all cost that we need to consider. We need to make sure that we don’t break the bank when trying to achieve our goals. We’ve determined which avenue we will venture down first, and that is; college campus advertising at pre-graduation events, on-campus sporting events, and on-campus job fairs, also offer college seniors a unique chance at attending business seminars hosted by well-known business entrepreneurs sponsored for by our bank, and paid advertisement on college campuses websites, Facebook, Twitter and Snapchat. We are also looking at creating a mascot for our bank and getting college kids involved in the process. This contest will expand all around our targeted market site.
Incorporate specifics regarding the digital or traditional marketing channels that will be used to deliver your message to your target market. Our traditional way of advertising “Wealth Goals” will be done by magazines and newspapers. All college campuses have their own magazines and newsletters and this will be our
first phase. The second phase will be the national magazines, such as Ebony, Sports Illustrated and Essence, along with the advertising through the local newspapers. These three phases will be
our primary focus for the first three months of our campaign blitz. Our key message is “Wealth Goals” For Business, Retirement, Education, and Leisure. As we enter into the third month of our phases we will launch our social media blitz. Any sites that have high traffic geared towards our targeted segment will be used to promote “Wealth Goals”.
Discuss why the selected advertising and public relations strategies are appropriate with respect to specific target segment penetration.
Not only is it appropriate but it is extremely important to use selective marketing strategies. By knowing who your targeted audience is, their behaviors like what they like to read, where they like to shop and what they enjoy doing you won’t waste time and resources. Basically, in order for you to be successful, you have to go where your target audience is and get their attention. Once you determine your end game knowing and applying (SMART) your goals will be accomplished. References:
How to Write a Branding Statement, https://smallbusiness.chron.com/
How many banks are there in the USA, https://www.quora.com/
Statista, n.d., https://www.statista.com/ How to Develop a Successful PR Strategy, https://www.huffingtonpost.com/
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