Framework Guidance: Frameworks in this case can vary - some may choose to do the Four Ps, some may choose to do an investment-style framework, some may choose profitability, etc. Here is a sample framework that is unique to this case.
When the candidate mentions the audience of Formula One or the Total Market available, move onto Question 1.
Company - Formula One:
Formula One:
Quantitative:
- How big is the audience of formula one and what are the demographics?
How much of Formula One’s audience would be apart of the market for the Barbie Movie?
Qualitative:
- Would we face any PR risks from a collaboration with Formula One? How do our values differ if at all?
Non-Formula One Competitors:
- Are there other competitors where we may see a better deal - a lower investment for access to a bigger market? What differs between the two?
Financials:
Investment:
- How much are we paying for the advertisement? Are there contingencies (e.g paying more if X tickets sold, Y revenue reached, paying less if the car crashes or if the car doesn’t place at a certain ranking)? Would this investment change if we sponsor a different race or at a different time?
Return:
- How do we measure return? Profit? Revenue? Return on Ad Spend?
- How would we match up Revenue to this individual advertisement? When do we stop measuring return? What is our threshold for “success”?
Promotion:
Earned Media: Do we think we will earn any additional advertising? Will press be at the same event as the car and would the advertisement be enough to garner unique media attention?
Paid Media: Is the pink car the best way to advertise at Formula One? Maybe there are other Paid Media opportunities that would provide a greater return?
Shared Media: Could we measure the probable shared media? What could we do to change the possible shared media and how could we maximize it?