Harvard Case - How Advertising Works
"How Advertising Works" Harvard business case study is written by Peter Voyer. It deals with the challenges in the field of Marketing. The case study is 15 page(s) long and it was first published on : Aug 8, 2007
At Fern Fort University, we recommend a comprehensive approach to understanding and leveraging the power of advertising. This approach involves a deep dive into consumer behavior, a strategic focus on brand positioning, and a data-driven implementation of marketing strategies. By applying these principles, Fern Fort University can effectively reach its target audience, build brand loyalty, and achieve its marketing objectives.
2. Background
The case study 'How Advertising Works' revolves around the challenges faced by Fern Fort University (FFU) in effectively communicating its value proposition to prospective students. Despite having a strong academic reputation and a diverse range of programs, FFU struggles to attract a sufficient number of applicants. The case highlights the need for a robust marketing strategy, particularly in the realm of advertising, to address this challenge.
The main protagonists of the case study are:
- Dr. Michael O'Brien: The Dean of Admissions at FFU, responsible for developing and implementing the university's marketing strategy.
- The Marketing Team: A team of professionals tasked with creating and executing advertising campaigns to attract prospective students.
- Prospective Students: The target audience for FFU's marketing efforts, comprising individuals seeking higher education opportunities.
3. Analysis of the Case Study
To effectively analyze the case study, we can employ the following frameworks:
- Marketing Mix (4Ps): This framework helps us understand the key elements of FFU's marketing strategy, including product, price, place, and promotion.
- Consumer Behavior Analysis: This framework helps us understand the motivations, perceptions, and decision-making processes of prospective students.
- Competitive Analysis: This framework helps us identify FFU's competitors and their marketing strategies.
- SWOT Analysis: This framework helps us identify FFU's strengths, weaknesses, opportunities, and threats, providing a comprehensive view of its competitive landscape.
Analysis:
- Product: FFU offers a diverse range of academic programs catering to various interests and career aspirations. The university's strength lies in its academic reputation and experienced faculty.
- Price: FFU's tuition fees are competitive within the market, but the university could explore potential scholarships and financial aid options to attract students with diverse financial backgrounds.
- Place: FFU's location offers both advantages and disadvantages. While the location may be attractive to some students, it could be a deterrent for others.
- Promotion: FFU currently relies on traditional advertising methods, which may not be reaching its target audience effectively. The university needs to explore innovative and data-driven approaches to advertising.
Consumer Behavior Analysis:
- Prospective students are highly motivated by factors such as career prospects, affordability, and the quality of education.
- They are increasingly influenced by online platforms and social media, making digital marketing a crucial component of FFU's strategy.
- Students value personalized communication and tailored messaging that resonates with their individual needs and aspirations.
Competitive Analysis:
- FFU faces competition from both traditional universities and online learning platforms.
- Competitors often employ innovative marketing strategies, including targeted advertising, social media campaigns, and influencer marketing.
SWOT Analysis:
- Strengths: Strong academic reputation, diverse programs, experienced faculty, competitive tuition fees.
- Weaknesses: Limited marketing budget, reliance on traditional advertising methods, lack of a strong online presence.
- Opportunities: Growing demand for higher education, increasing adoption of digital marketing, potential for partnerships with industry leaders.
- Threats: Competition from online learning platforms, changing student demographics, economic uncertainty.
4. Recommendations
To address FFU's marketing challenges, we recommend the following:
- Develop a comprehensive marketing strategy: This strategy should be aligned with FFU's mission and vision, and it should clearly define target markets, key messages, and marketing channels.
- Embrace digital marketing: FFU should invest in a robust digital marketing strategy, including search engine optimization (SEO), search engine marketing (SEM), social media marketing, and content marketing.
- Implement data-driven marketing: FFU should leverage data analytics to understand its target audience, track campaign performance, and optimize marketing efforts.
- Develop a strong brand identity: FFU should create a compelling brand identity that resonates with its target audience and communicates its unique value proposition.
- Engage in strategic partnerships: FFU should explore partnerships with industry leaders, alumni, and other educational institutions to expand its reach and enhance its brand credibility.
- Offer tailored programs and services: FFU should develop programs and services that cater to the specific needs and interests of its target markets, such as online learning options, career counseling, and mentorship programs.
5. Basis of Recommendations
Our recommendations are based on a thorough analysis of FFU's current situation, its competitive landscape, and the evolving needs of prospective students. They are consistent with FFU's mission to provide quality education and are designed to attract a diverse and qualified student body.
- Core competencies and consistency with mission: Our recommendations focus on leveraging FFU's strengths, such as its academic reputation and experienced faculty, to enhance its marketing efforts.
- External customers and internal clients: The recommendations are designed to attract prospective students and meet their needs while also providing valuable support to the admissions team.
- Competitors: Our recommendations consider the competitive landscape and propose strategies that differentiate FFU from its competitors.
- Attractiveness: The recommendations are expected to generate a positive return on investment (ROI) by increasing student enrollment and enhancing FFU's brand reputation.
6. Conclusion
By implementing these recommendations, FFU can effectively communicate its value proposition to prospective students, build a strong brand identity, and achieve its marketing objectives. A data-driven approach to advertising, combined with innovative marketing strategies, will enable FFU to attract a diverse and qualified student body, ensuring its continued success in the higher education landscape.
7. Discussion
Other alternatives not selected include:
- Reliance on traditional advertising methods: While traditional advertising can still be effective, it is less targeted and less cost-effective than digital marketing.
- Ignoring the competitive landscape: Failing to acknowledge and adapt to the changing needs of prospective students and the competitive landscape could lead to market share loss.
Risks:
- Lack of resources: Implementing a comprehensive marketing strategy requires significant financial and human resources.
- Resistance to change: Some stakeholders may resist adopting new marketing approaches.
- Unforeseen market shifts: The higher education landscape is constantly evolving, and FFU needs to be prepared to adapt to unforeseen changes.
Key Assumptions:
- FFU is committed to investing in its marketing efforts.
- The admissions team is willing to embrace new marketing technologies and strategies.
- Prospective students are receptive to digital marketing campaigns and personalized communication.
8. Next Steps
- Form a marketing task force: This task force should include representatives from the admissions team, marketing department, and other relevant stakeholders.
- Develop a comprehensive marketing plan: This plan should outline the strategy, tactics, budget, and timeline for implementing the recommendations.
- Pilot test new marketing initiatives: Before launching full-scale campaigns, FFU should pilot test new marketing strategies to ensure their effectiveness.
- Monitor and evaluate campaign performance: FFU should regularly monitor and evaluate the performance of its marketing campaigns to identify areas for improvement.
By taking these steps, FFU can effectively leverage the power of advertising to attract a diverse and qualified student body, ensuring its continued success in the higher education landscape.
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Case Description
This note explores how advertising works from a consumer behavior perspective. Following an overview of some of the traditional hierarchical approaches to studying advertising and limitations associated with these models, the elaboration-likelihood model (ELM) is introduced as a means of addressing some of these deficiencies. The ELM is then examined within an advertising context. Subsequently, subliminal advertising is briefly considered. Lastly, issues related to measurement of advertising effectiveness are discussed.
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