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Magazine A has a cost for a full-page ad of $10,000 and a circulation figure of 5,000,000. Of these 5,000,000 subscribers, 40 percent are tennis buffs. Magazine B has a cost for a full page of $10,000 and a circulation of 3,000,000. Of the 3,000,000 subscribers 75 percent are tennis buffs. If you sold tennis racquets and wanted to compare the CPM effectiveness of these magazines, which would you choose?
What are the various key terminologies used in media planning? Media planning is the series of decisions involved in delivering the promotional message to the prospective purchasers and/or users of the product or brand. Media planning is a process, which means a number of decisions are made, each of which may be altered or abandoned as the plan develops. The media plan is the guide for media selection. It requires development of specific media objectives and specific media strategies (plans of action) designed to attain these objectives. Once the decisions have been made and the objectives and strategies formulated, this information is organized into the media plan. The medium is the general category of available delivery systems, which includes broadcast media (like TV and radio), print media (like newspapers and magazines), direct mail, outdoor advertising, and other support media. The media vehicle is the specific carrier within a medium category. For example, Time and Newsweek are print vehicles; 20/20 and 60 Minutes are broadcast vehicles. As you will see in later chapters, each vehicle has its own characteristics as well as its own relative advantages and disadvantages. Specific decisions must be made as to the value of each in delivering the message. Reach is a measure of the number of different audience members exposed at least once to a media vehicle in a given period of time. Coverage refers to the potential audience that might receive the message through a vehicle. Coverage relates to potential audience; reach refers to the actual audience delivered. (The importance of this distinction will become clearer later in this chapter.) Finally, frequency refers to the number of times the receiver is exposed to the media vehicle in a specified period. How a media plan is developed and what are the various strategies used for its implementation?  Developing a Media Plan Market Analysis and target Market Identification: This step tries to address mainly 3 important questions. To Whom shall we Advertise: In a specific market also, marketers may decide which specific segment to target. For this, indexes are considered to more useful compared to raw numbers. An index number over 100 means use of the product is proportionately greater in that segment than in one that is average (100) or less than 100. While Simmons and MRI provide demographic, geographic, and psycho graphic information, other factors may be more useful in defining specific markets. What internal & external factors are operating: Media strategies are influenced by both internal and external factors operating at any given time. Internal factors may involve the size of the media budget, managerial and administrative capabilities, or the organization of the agency. External factors may include the economy (the rising costs of media), changes in technology (the availability of new media), competitive factors, and the like. While some of this information may require primary research, much information is available through secondary sources, including magazines, syndicated services, and even the daily newspaper. Where to Promote: The question of where to promote relates to geographic considerations. Companies often find that sales are stronger in one area of the country or the world than another and may allocate advertising expenditures according to the market potential of an area. For years, Whirlpool has had a much greater brand share of the appliance market in the East and Midwest than in the Southeast and West. The question is, where will the ad dollars be more wisely spent? Should Whirlpool allocate additional promotional monies to those markets where the brand is already the leader to maintain market share, or does more potential exist in those markets where the firm is not doing as well and there is more room to grow? Perhaps the best answer is that the firm should spend advertising and promotion dollars where they will be the most effective—that is, in those markets where they will achieve the desired objectives. Some indexes that help decide areas for promotions are: 1) Survey of buying power Index 2) Brand Development Index 3) Category Development Index The following chart represents how these indexes can be used for identifying focus areas for promotion. Establishing Media Objectives: The media objectives are not ends in themselves. Rather, they are designed to lead to the attainment of communications and marketing objectives. Media objectives are the goals for the media program and should be limited to those that can be accomplished through media strategies. Developing and Implementing Media Strategies: The following are the criteria that are considered in the development of media plans: a) The media mix – A wide variety of media and media vehicles are available to advertisers. The objectives sought, the characteristics of the product or service, the size of the budget, and individual preferences are just some of the factors that determine what combination of media will be used. By employing a media mix, advertisers can add more versatility to their media strategies, since each medium contributes its own distinct advantages (as demonstrated in later chapters). By combining media, marketers can increase coverage, reach, and frequency levels while improving the likelihood of achieving overall communications and marketing goals. b) Target market coverage – The media planner determines which target markets should receive the most media emphasis. If media coverage reaches people who are not sought as buyers and are not potential users, then it is wasted. The goal of the media planner is to extend media coverage to as many of the members of the target audience as possible while minimizing the amount of waste coverage. c) Geographic coverage – The objective of weighting certain geographic areas more than others makes sense, and the strategy of exerting more promotional efforts and dollars in those areas follows naturally. Scheduling: The primary objective of scheduling is to time promotional efforts so that they will coincide with the highest potential buying times. Three scheduling methods available to the media planner—continuity, flighting, and pulsing. Continuity refers to a continuous pattern of advertising, which may mean every day, every week, or every month. Flighting, employs a less regular schedule, with intermittent periods of advertising and non-advertising. At some time periods there are heavier promotional expenditures, and at others there may be no advertising. Pulsing is actually a combination of the first two methods. In a pulsing strategy, continuity is maintained, but at certain times promotional efforts are stepped up. d) Reach versus frequency – Achieving awareness requires reach—that is, exposing potential buyers to the message. New brands or products need a very high level of reach, since the objective is to make all potential buyers aware of the new entry. High reach is also desired at later stages of the hierarchy. Here frequency is the number of times one is exposed to the media vehicle, not necessarily to the ad itself. Since marketers have budget constraints, they must decide whether to increase reach at the expense of frequency or increase the frequency of exposure but to a smaller audience. The reach-versus-frequency decision, while critical, is very difficult to make. A number of factors must be considered, and concrete rules do not always apply. The decision is often more of an art than a science. e) Creative aspects and mood – It is possible to increase the success of a product significantly through a strong creative campaign. Certain media enhance the creativity of a message because they create a mood that carries over to the communication. f) Flexibility – An effective media strategy requires a degree of flexibility. Because of the rapidly changing marketing environment, strategies may need to be modified. If the plan has not built in some flexibility, opportunities may be lost and/or the company may not be able to address new threats. Flexibility addresses the following: -> Market opportunities -> Market Threats -> Availability of media -> Changes in Media or media vehicles g) Budget considerations – One of the more important decisions in the development of media strategy is cost estimating. The value of any strategy can be determined by how well it delivers the message to the audience with the lowest cost and the least waste. The following cost bases help us to determine relative costs of media. -> Cost per thousand(CPM) -> Cost per ratings point(CPRP) – >Daily inch rate h) Evaluation and Follow Up – Measures of effectiveness must consider two factors: (1) How well did these strategies achieve the media objectives? (2) How well did this media plan contribute to attaining the overall marketing and communications objectives? If the strategies were successful, they should be used in future plans. If not, their flaws should be analyzed. What are the different sources of media information and their characteristics? |
Which term refers to the potential audience that might receive a message through a vehicle frequency coverage Reach media Planning overuse?
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