L14_MediaStrategy - Lecture 14 ¡  Persuasion Skit...

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Unformatted text preview: Lecture 14 ¡  Persuasion Skit: Friday (Nov 7) §  “5 minutes” §  Order will be randomly determined §  Clearly communicate the concepts in a memorable way to your target (e.g., classmates) §  “PLEASE BE ON TIME FOR CLASS!” ¡  Textbook pages: §  Chapter 16: 529-­‐530, 539-­‐541, 545,551-­‐568, 572-­‐573 §  Chapter 10: 354-­‐356, 358, 363-­‐367 §  Chapter 18: 613-­‐616, 623-­‐631 ¡  IMC presentaYon Nov 19 & 26 §  §  §  §  §  §  ¡  Sign-­‐up link will be sent on Nov 10th Monday 8:30am Use a computer (NOT a phone) to sign up Sign up with your group number, for example, ‘L4-­‐1’ 12 minutes presentaYon + 2 minutes Q&A QuesYons – class parYcipaYon All groups should send me (CC Belle) the final presentaYon slides by 9am on Day 1 (19th) IMC final report §  Extended deadline: Dec 3 à Dec 8 11:59pm §  Max 30 pages excluding appendix ¡  As part of “Get Together” Coke campaign ¡  Idea: to make all the friends of LaYn America celebrate Friend’s Day in a very special way ¡  Results: §  Thousands of friends in 7 countries in LaYn America interacted directly §  800 boeles in 9 hours per vending §  1075% more sales than with a regular vending machine §  Thousands of comments on blogs and social networks around the world Understand marketplace/ Identify Market Opportunities Design Marketing Strategy Develop Marketing Communication Program Consumer Segmentation Promotion Company Competition Targeting Positioning q  Set Objectives and Budgeting q  Develop Marketing Communication Strategy q  Creative Strategy q  Media Strategy q  Monitor, Control, Evaluation §  Message strategy and implementation decisions: “What should I say to consumers, and how should I say it?” §  Media strategy and selection decisions: “Where, when, and how often should I communicate with consumers?” ¡  Where to adverYse? How to allocate budget among alternaYves? ¡  Which geographical locaYons? ¡  When to adverYse? ¡  How to distribute the budget over Yme? §  How should advertising be allocated during the course of the campaign? §  Continuity schedule: regular pattern of advertising without gaps or nonadvertising periods §  Flighting schedule: involves intermittent periods of advertising and nonadvertising §  Pulsing schedule: maintains continuity, but promotional efforts are stepped up at times Continuity Flighting Pulsing Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec §  Optimal schedule? ➜  IT DEPENDS: o  Budget available? o  How quickly do consumers forget the message? o  Sales seasonality? o  Level of competitive advertising? o  Etc. §  Advertisers are concerned with both the depth and selectivity of the audience reached by a particular medium §  They also want to assure that the medium can deliver the message with a desired frequency §  REACH: §  Percentage of the target audience that has been exposed, at least once, during a specified time frame (usually 4 weeks), to the vehicles in which the communication is inserted. §  E.g.: Audience = 200 people 30% of the audience has been exposed 3 times; 25% of the audience has been exposed 2 times; 25% of the audience has been exposed 1 time; 20% of the audience has been exposed 0 time. è  Reach = 80 (= 30 + 25 + 25) §  FREQUENCY: §  Number of times, on average, during the media planning period (e.g., 13 weeks), that members of the target audience are exposed to the media vehicles that carry the ad. §  E.g.: Audience = 200 people 30% of the audience has been exposed 3 times; 25% of the audience has been exposed 2 times; 25% of the audience has been exposed 1 time; 20% of the audience has been exposed 0 time. è  Frequency = total # of exposures = (60x3)+(50x2)+(50x1) # of reached audience members 160 è  Frequency = 330/160 = 2.0625 §  WEIGHT: §  How much volume, during the media planning period, is required to accomplish the advertising objectives. Different metrics can be used to determine this: §  GRPs (Gross Rating Points) = reach x frequency = 80 x 2.0625 = 165 (If different vehicles, calculate reach x frequency of each medium and then sum them to estimate the total GRPs of the media schedule.) §  Advertisers trade off reach and frequency when developing a media strategy – budget constraints force to decide which is most important §  Which to prioritize? No fixed rules: decision depends on many criteria (e.g., Does ad get attention? Easily understood and remembered? Is product new?) § Considerations : 1)  Is the medium effective in delivering the desired message (i.e., does it communicate well)? 2)  Is the medium cost efficient? 3)  Is the medium easy to manage (e.g., widely available, easily purchased etc.)? 1)  Is the medium effective in delivering the desired message (i.e., does it communicate well)? §  Each medium offers unique possibilities, e.g.: §  Magazines offer high quality photographic reproduction §  TV allows drama and action §  Radio appeals to the listener’s imagination §  Newspapers provide authority and credibility because of surrounding news content §  Outdoor ads provide possibility for larger-­‐than-­‐life images 1)  Is the medium effective in delivering the desired message (i.e., does it communicate well)? §  Media differ also in audience involvement and required speed of information processing: §  TV, outdoor, and radio are relatively fast media; §  Print media (magazines, newspapers) allow for slower processing; §  Interactive media (e.g., internet) allow back-­‐and-­‐forth flow of information, which leads to much higher involvement. Exposure Quality Detailed Frequency of Visual Copy Time Medium Ability to Target TV low (network) or geographic & content (cable) short high low high Newspaper geographic long medium high high Magazines content long high high low Radio geographic & content short none low high Outdoor geographic short high low high 2)  Is the medium cost efficient? §  The objective is to find the minimum-­‐cost media mix which allows meeting the communications needs of the campaign §  CPM (Cost per thousand)/ CPRP (Cost per ratings point) are measures of cost efficiency: CPM = cost of ad campaign x 1,000 number of exposed people CPRP = cost of commercial time program rating Magazine A Magazine B Cost/page $33,924 $44,352 Circulation 238,860 354,309 Calculation $33,924 x 1000 238,860 $44,352 x 1000 354,309 CPM $142.02 $125.18 Overes6ma6on of Efficiency Target Market CirculaYon CirculaYon to target Cost/page 18 – 49 4,000,000 65% (2,600,000) $234,000 CPM = $234,000 x 1000 4,000,000 = $58.5 $234,000 x 1000 TCPM = 4,000,000 x 0.65 = $90 Underes6ma6on of Efficiency Target Market CirculaYon Cost/page Pass-­‐along rate all age groups 4,000,000 $234,000 3x (for 20% of households) $234,000 x 1000 CPM (readers/copy) = 4,000,000 = $36.7 + 3 x (0.2 x 4,000,000) * Pass-along rate: the number of people who read the magazine without buying it 2)  Is the medium cost efficient? §  CPM and CPRP are useful for comparing the cost efficiency of different advertising vehicles, but they are not useful for comparing across media §  They are also not useful for comparing within a medium across, for example, dayparts – the appropriate comparison is between two daytime or two prime time programs 3)  Is the medium easy to manage (e.g., widely available, easily purchased, reasonable lead times, etc.)? §  Managing the media buying process: §  Media kits can be requested by mail, or they can be found on the internet for certain publications §  Ad agencies have huge databases with information from thousands of individual media kits §  Does medium have central sales facility? §  Media is an active part of any communication – different media can complement or detract from a message’s ability to meet the advertiser’s goal §  Have an IMC approach in selecting media: media chosen must complement one another in their potential impact on target audiences §  In selecting and using media, consider: audience characteristics, communication objectives, creative needs, competitor’s current and anticipated actions, and budgetary constraints...
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