Media Planning is central to every successful advertising campaign. When planning a media schedule, the media planner takes into consideration the demographic profile of the target customer and identifies media best suited to delivering a relevant message to that audience. Corporate media planners are usually most interested in reach, frequency and cost per gross rating point.
1.1 WHY MEDIA PLANNING IS IMPORTANT?
1. GROWTH OF MEDIA IN NUMBERS: The ever-growing assortment of specialty cable television channels and the variety of new media options available, marketers have to target their advertising spending carefully to reach the right audience at the right time.
2. ANY BUSINESS WANT REASONABLE RETURN ON INVESTMENT ON RUPEES SPENT ON ADVERTISING: This need good planning before spending.
3. ADVERTISING AND PROMOTIONS UNDERWENT LOT OF PROFESSIONAL CHANGES: This resulted in a necessity of media planning.
4. TECHNOLOGICAL ADVANCES
n Increased choice of media vehicles.
n Launch of new magazines and journals
n Pay TV
n Potential of internet as an advertising medium
n Changing technologies for outdoor advertising
5. FRAGMENTATION AND DEMASSIFICATION OF MEDIA AUDIENCES.
Requires knowledge of ‘niche’ markets.
6.ADVANCES IN AUDIENCE RESEARCH AND MEASUREMENT.
Increased awareness of different audiences.
7. GLOBAL ECONOMIC CHANGES.
Deregulation of the different industries and increased competition
Media planners are often part of a full-service advertising agency. They may also work as a special firm. In either case, the media planner works closely with the marketing and advertising team to devise a media strategy. The media strategy is a roadmap to ensure that an advertisement reaches the right audience at the right time. Media strategy should always come before creative strategy because you have to understand WHO you are targeting and the best way to REACH those people.
1.2 KEY CONSIDERATIONS WHILE SELECTING A MEDIA
The SIX big questions in any media plan are:
1. REACH : What specific media offer access to the target market? Sufficient Reach: Number of different individuals or homes exposed to a media schedule within a given time period (expressed as a %)
2. FREQUENCY: When should advertisements air (in Radio)/ broadcast (in TV) or insert (in print) and how often? Sufficient Frequency: Average number of times individuals or homes are exposed to advertising messages.
3.COST-EFFICIENCY: Lowest Cost-Per-Thousand (CPM) (M for million)
4.WASTAGE: Minimum of reaching non-prospects (waste)
5.BUDGET: Within budget
6. MEDIA MIX: What is the right media mix in tune with the above factors?
When the marketing, advertising and media team arrive at satisfactory answers to those three questions, what follows is a balancing act to make the most effective use of the marketing budget. There is no such thing as a perfect media plan. It is an organic creation specifically targeted to the product or service, the marketing objectives and the marketing budget.
1.3 MEDIA VEHICLE
MEDIA: Anything that delivers content (a message) to an audience can be called as a MEDIA.
VEHICLE: A vehicle is a carries a message within a certain medium.
nEg. Newspaper is a medium where The Hindu is a vehicle.
Feasible vehicles are those which meet basic qualitative criteria (such as appropriateness to the target market, creative fit, budget, etc.) Different feasible media may be compared for value and efficiency using a set of criteria. Feasible vehicles are ones that are appropriate to the product, the audience, and the budget.
TARGET: Persons most likely to purchase a given product or serviceTo optimise the client’s advertising expenditure and ensure the advertising reaches the target audience in the most cost-effective way.
1. 4 MEDIA PLANNING PCESS.
1. Analysis of Marketing Situation-Marketing problems to be solved.
2. Marketing Strategy- Devise a Marketing Strategy. Strategy states actions to accomplish the objectives.
3. Determine Advertising Creative Strategy- What is to be communicated, how it will be done and what it will accomplish. This -Includes statement of advertising copy themes.
4. Media Planning
2. MARKETING
BASIC TERMS
4 Ps: OF MARKETING
PRODUCT
PRICE
PLACE (DISTRIBUTION)
PROMOTION
CONCEPT OF MARKETING: Satisfying customer needs (creating utility) through the exchange process.
In simpler terms, marketing is the process of identifying and satisfying customer needs with want-satisfying goods and services.
Marketing is the delivery of customer satisfaction at a profit.
Process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
DEFINITION OF MARKETING
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution (4 Ps) of ideas, goods and services to create exchanges (with customers) that satisfy individual and organizational objectives.
Types of promotion
Manufacturer to intermediary (trade promotions).
Manufacturer to consumer (manufacturer promotions).
Retailer to consumer (retailer promotions).
Consumer relationship building promotions
Major sales promotion tools
Samples: Trial amount of a product
Coupons: Savings when purchasing specified products
Cash refund offers (rebates): Refund of part of the purchase price
Price packs: Reduced prices marked on the label or package
Premiums: Goods offered free or low cost as an incentive to buy a product
Advertising specialities: Articles imprinted with an advertiser’s name given as gifts
Patronage rewards: Cash or other rewards for the use of a certain product
Point of purchase promotions (pop): Displays and demonstrations that take place at the point of sale
Contests: Consumers submit an entry to be judged
Lotteries and games
4. CONSUMER BEHAVIOUR
.
Consumer Behavior refers to the buying behavior of the ultimate consumer.
Consumer Behaviour means buying habits or pattern of behaviour of consuming public either in general or in specific groups.
IMPORTANCE OF CONSUMER BEHAVIOUR
A firm needs to analyze buying behavior for:
Buyers reactions to a firms marketing strategy has a great impact on the firms success.
The marketing concept stresses that a firm should create a Marketing Mix (4Ps) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy.
Marketers can better predict how consumers will respond to marketing strategies.
FACTORS AFFECTING CONSUMER BUYING BEHAVIOUR
(AND CONSUMER BUYING PROCESS)
ADVERTISING
Advertising is defined as any paid form of non personal presentation and promotion of ideas, goods or services by an identified sponsor.
Advertising is certainly the most ubiquitous part of the promotions mix.
Can be a powerful force for change; be it purchasing a product again you forgot you liked or changing attitudes to drinking and driving.
Clear objectives and careful planning are the keys to successful advertising.
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