PREX (2)
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An Advertising Campaign by the JAM Agency
Table of Contents
Introduction/About Our Agency<br />
The JAM Agency’s overall goal is to provide the highest<br />
service to our clients. Signing with us brings the guarantee<br />
that we will not only increase awareness and bring Princeton<br />
Record Exchange to new eyes, but we will change the<br />
overall perception of the Princeton Record Exchange<br />
experience entirely. This will be accomplished through<br />
extensive research, strategy, and evaluation. We take pride<br />
in providing all appropriate research to affirm that we are<br />
reaching the correct target audience and, ultimately,<br />
ensuring that our campaigns will reach the correct people in<br />
the correct places at the correct times. We will emphasize<br />
the unique store benefits that cannot be mimicked by digital<br />
competitors to get customers in the store more frequently<br />
and allow them to see this experience for themselves!
Consumer/Target Analysis<br />
Our consumer is a young adult, between the ages of 18-34, living in the near vicinity of Princeton, NJ. This person may be a student at<br />
Rider, Princeton, or TCNJ as well as a recent graduate or just a regular young adult. The main psychographic feature that our<br />
customers have is that they enjoy having a great deal on items and affordable pricing. They also prefer smaller, mom and pop style<br />
businesses as opposed to the “Big Box” stores they can find at the mall and online stores as made prevalent by Princeton Record<br />
Exchange’s official mission statement as seen on their website. According to information from our interview with store manager, Jon<br />
Lambert, our consumer really has a fascination with vinyl albums because there has been a huge spike lately in sales for those items.<br />
To summarize, our target consumer wants three things out of their record store experience: low prices, high quality merchandise, and a<br />
great amount of depth in their store’s selection.
Competitive Analysis<br />
Stores<br />
<strong>PREX</strong>’s Placement<br />
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FYE<br />
Best Buy<br />
Walmart<br />
Target.<br />
Advantages: A wide selection of products, affordable prices<br />
Disadvantages: Customer service and appearance.<br />
How it stacks up: Slightly less in terms of selection but much more affordable<br />
prices.<br />
<strong>PREX</strong>’s Placement<br />
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iTunes<br />
Amazon<br />
Spotify.<br />
Digital<br />
Advantages: Trade-ins for store credit, sense of community, vinyl<br />
record availability.<br />
Disadvantages: Availability and selection<br />
How it stacks up: It has things that digital downloads can’t mimic,<br />
but it can’t possibly compete with an endless digital library of music<br />
and movies. Prices are a pretty even match.
SWOT Analysis<br />
Strengths<br />
● <strong>PREX</strong> is a smaller, niche market, they have a loyal target market that seems to<br />
consistently shop there.<br />
● According to the <strong>PREX</strong> official website, they offer a very wide assortment of<br />
options from music to movies offering them opportunities to reach the broadest<br />
clientele possible.<br />
● Similar to successful video game chains before them such as GameStop, <strong>PREX</strong><br />
not only sell products but allow consumers to sell them back products for either<br />
store credit or cash reimbursement which sets them apart from their larger<br />
competitors such as FYE.<br />
● According to their website, <strong>PREX</strong> are trying to offer an alternative to the Mall,<br />
“Big-Box” and online stores that have come to dominate the music and movie<br />
retailing world. As such, they take pride in being able to offer low prices, high<br />
quality merchandise, and a great amount of depth in their selection.<br />
Weaknesses<br />
● <strong>PREX</strong> has a niche market<br />
● <strong>PREX</strong> is small and locally owned making it well known in the surrounding areas of<br />
the store, but not to the general public.<br />
● <strong>PREX</strong> customer reviews on yelp say poor customer service<br />
● <strong>PREX</strong> customer reviews on yelp state the store is very unorganized<br />
Opportunities<br />
Threats<br />
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In the market there is room to grow with a strong word-of-mouth influence by local<br />
consumers in the niche market and social media sites/ blog sites.<br />
According to data collected by Digital Music News and Wall Street Journal (which<br />
they received via SoundScan and Nielsen ratings), 9.2 million vinyl albums were<br />
sold in 2014. This marks the highest sales number recorded since the industry<br />
started monitoring LP sales in 1991.<br />
33.7% of consumers are 45 and older and not into the digital music world<br />
CD’s, records, tapes and audiobooks all fall under the industry’s music segment,<br />
and represent 39.7%,the largest percent, of total industry revenue.<br />
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Other local specialized record stores can take potential consumers away<br />
Hard to reach consumers that are in the market for vinyl records<br />
Hard to know what specific vinyl records that consumers will want<br />
E-commerce such as Amazon is a huge competitor because of the volume of<br />
products and price
Objectives<br />
● We want to increase awareness by 15% directly towards our target market, which as you may recall<br />
is young adults in the local area aged 18-34, by the end of the summer. Summer will be a heavy time<br />
for advertising in our pulsing campaign strategy.<br />
● We hope to increase the overall amount of people going into the store by 20% by the end of this<br />
campaign.<br />
● Increase general store awareness by 25% by the end of the campaign.<br />
● The goal for non traditional events that will be hosted in store will be 10% of total college students in<br />
the surrounding schools to attend.
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The campaign’s big idea for Princeton Record Exchange is to unplug young adults from our client’s biggest<br />
competition, digital downloading of music and movies. As such, we hope to reinvent their image, which according to<br />
our research can use some reinventing, among our target market as a greater alternative to the digital downloading<br />
possibilities that our target market has at their disposal.<br />
Focus on a great selection of the highly demanded vinyl selection that young adults seem to be growing more and<br />
more interested in.<br />
Reinvent <strong>PREX</strong> as a fun experience to share with friends that digital downloading can’t offer.<br />
Hit our target consumer right where they are: in the greater Princeton area and online such as social media and<br />
online advertising.<br />
Keep all advertising ethical.
Message Strategy<br />
➢ Our main message, as we mentioned in the creative strategy, is to reinvent going to record<br />
stores as a fun, social experience in an effort to unplug young adults from digital downloads<br />
➢ We will focus the majority of our campaign around the message, “Unplug and Reconnect.”<br />
➢ This message will serve as a bridge between reaching our target market right where they are,<br />
online, and obtaining our objectives such as an increase in the awareness of our client with the<br />
concept of bringing our target market back into record stores and away from digital<br />
downloads.
Media Strategy and Plan<br />
○ Our campaign is going to make the most effective use of the most effective media possible.<br />
○ The majority of our target audience is young adults in the local Princeton area that range from 18-30.<br />
○ Our media objectives are to reach 80% of our target market with an average frequency of 4.5, as well as to increase<br />
attendance at in-store events to 10% of college students in each of the schools of the surrounding area.<br />
○ We also hope to achieve an 80% reach at kick off month with an average of 4.5 frequency. For the remainder<br />
months the reach will range from 65%-75%. The goal for non traditional events that will be hosted in store will be<br />
10% of college students in each school in the surrounding area.
Media Strategy and Plan Continued...<br />
Media and Vehicles<br />
○ Radio (94.5)<br />
○ Social Media (Facebook, Twitter and YouTube)<br />
○ Billboards (based in the Trenton area)<br />
○ Music Forums (MusicBanter/Princeton Traditional)<br />
○ Online Advertising (NJ.com)<br />
○ Local Papers (Jersey Journal, Community<br />
Newsletters)<br />
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Why these?<br />
94.5 PST is the most listened to radio station for adults aged 18-49 in the Trenton<br />
area with an estimated 1 out of every 3 adult men and women listening to it daily.<br />
Social media and music forums serve as a win-win scenario: it’s free and it’s reaching<br />
people that our big idea applies to right where they are.<br />
Billboards in the local area are important because they will serve as a means of<br />
increasing general awareness to people in the area in other ways besides word-ofmouth.<br />
Paid online media, such as publications on NJ.com and local paper advertisements,<br />
like billboards, will also serve as a means to increase the general awareness of <strong>PREX</strong><br />
outside of its already strong but niche market.
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Based on our studies and past endeavors in the world of effective<br />
advertising campaigns, we feel that the best way to evaluate our<br />
campaign’s success would be to use the longitudinal design.<br />
This serves as a way to strictly measure the effectiveness of the<br />
advertising campaign without letting other factors confuse the<br />
facts.<br />
Survey a sample group, much like our primary research, at two<br />
points in time<br />
Questions would be focused around awareness and behavioral<br />
changes among consumers before and after exposure to our<br />
advertising campaign.<br />
The best benefit to using this approach to measure campaign<br />
effectiveness is that it would be very cheap to conduct. Given<br />
Princeton Record Exchange’s small budget for advertising of<br />
$10,000 a year, this would definitely be a perfect fit.
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We here at the JAM Agency would greatly appreciate your business as a<br />
client.<br />
As you can see, the hereby proposed advertising campaign, went through<br />
various stages of research which led to the successful break down of<br />
potential consumers into markets to target the correct market as effectively<br />
as possible.<br />
What you get with JAM:<br />
○ A campaign that is not only seen but perceived positively by the<br />
proper market at the right place at the right time.<br />
○ Better results than any efforts you’ve had in the past.<br />
○ Unmatched attention to every detail to make sure your money and<br />
trust is in the best hands possible.<br />
○ An advertising campaign that embodies Princeton Record<br />
Exchange’s full potential.
● Advertising Rates: Place an Ad in the Jersey Journal - NJ.com. (n.d.). Retrieved<br />
May 04, 2016, from http://www.nj.com/placead/jjournal/rates.html<br />
● Billboards for Rent in 08601 (Trenton, NJ). (n.d.). Retrieved May 04, 2016, from<br />
http://www.outdoorbillboard.com/billboards/588505-new-jersey-billboardfor-rent-in-trenton-nj<br />
● Kristobak, R. (n.d.). Vinyl Sales In 2014 See A 52 Percent Boost In U.S.<br />
Retrieved May 04, 2016, from http://www.huffingtonpost.com/2015/01/05/vinyl-sales2014_n_6419064.<br />
html<br />
● Lambert, J. (2016, March 7). [Personal interview].<br />
● PST Media Kit 2012. (n.d.). Retrieved May 04, 2016, from<br />
http://www.slideshare.net/nassauonline/pst-media-kit-2012<br />
● Princeton Record Exchange Customer Survey. (n.d.). Retrieved May 04, 2016,<br />
from http://www.qualtrics.com<br />
● Simmons OneView. (n.d.). Retrieved May 04, 2016, from<br />
https://oneview.simmonsresearch.com/<br />
● WPST Radio Advertising Costs. (n.d.). Retrieved May 4, 2016, from<br />
http://www.gaebler.com/WPST-FM-NJ-Radio-Advertising-Costs 23336