Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
Download
Standard view
Full view
of .
Look up keyword
Like this
15Activity
0 of .
Results for:
No results containing your search query
P. 1
MK0007

MK0007

Ratings:
(0)
|Views: 363|Likes:
Published by Tushar Patil

More info:

Published by: Tushar Patil on Nov 29, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

11/07/2012

pdf

text

original

 
 
MK0007 – Advertising Management and SalesPromotionAssignment Set- 1
1. What is the difference between media planning and mediabuying? Briefly describe the various tasks of media plannersand buyers.Answer:
Media Planning is the process of determining how to usetime and space to achieve advertising objectives. One of thoseobjectives is always to place the advertising message before atarget audience. A medium is a single form of communication(television, billboards and online media). Combining media (using TV, Radio and magazines) is a media mix. A media vehicle is asingle program, magazine, or radio station. Although these termshave specific meanings, people in the advertising industry typicallyuse the term ‘media’ in most situations. For simplicity’s sake, weuse that term, too.Media planning demands the biggest portion of the advertiser’sbudget (cost for space and time). Media planning is systematic andcomplex. But in fact, a media plan may be quite simple andsomewhat haphazard. A psychotherapist operating out of his homemay purchase small Yellow Pages along with a much smaller ad inthe local newspaper, when his finances permit. That’s it-say $ 590per year on media. Even a small sporting goods store may focus ona somewhat larger directory ad, along with a print ad placedbiweekly in the local newspaper. The latter is likely paid for thevarious manufactures whose brands he carries. Total media costs,say $2,850 per year.Regardless of whether a company is spending a few hundred dollarson one medium or millions of dollars on thousands of mediaalternatives, the goal is still the same: to reach the right people, atthe right time, with right message. The same principles of mediaplanning apply.
Media Buying Functions
Media buyers have specific skills to implement these duties. In thissection, we example the most important buyer functions: providinginformation to media planners, selecting the media, negotiatingcosts, monitoring the media choices, evaluating the media choiceafter the campaign, and handling billing and payment.MK0007 Advertising Management and Sales Promotion - 1 -
 
 
Providing Inside Information to the Media Planner
Media buyers are close enough to day-to-day changes in mediapopularity and pricing to be a constant source of inside informationto media planners. For example, a newspaper buyer discovers that akey newspaper’s delivery staff is going on strict; a radio time buyerlearns that a top disk jockey is leaving a radio station; or amagazine buyer’s source reveals that the new editor of a publicationis going to change the editorial focus dramatically. All of thesethings can influence the strategy and tactics of current and futureadvertising plans.
Selecting Media Vehicles
One essential part of buying is choosing the best media vehicles tofit the target audience’s aperture (the time and place at which theaudience is most receptive to the message). The media planner laysout the direction, but the buyer is responsible for choosing thespecific vehicles.Armed with the media plan directives, the buyer seeks answers to anumber of difficult questions: Does the vehicle have the rightaudience profile? Will the program’s current popularity increase,stabilize, or decline? How well does the magazine’s editorial formatfit the brand? Does the radio station’s choice of music offer thecorrect atmosphere for the creative theme? How well does thenewspaper’s circulation pattern fit the advertiser’s distribution? Theanswers to those questions bear directly on the campaign’s success.For instance, Alternative Press Magazine clearly matches GenerationX. As indicated in the “A Matter of Practice” box, instant message ismedium that teens find attractive.
Negotiating Media Prices/ Authorizing the Buys
Aside from finding the aperture of target audiences, nothing isconsidered more crucial in media buying than securing the lowestpossible price for placements. Time and space charge make up thelargest portion of the advertising budget, so there is continuingpressure to keep costs as lows as possible. To accomplish this,buyers operate in a world of negotiation. Buying is a complicatedand tedious process. The American Association of AdvertisingAgencies (AAAA) lists no less than 21 elements in the authorizationfor a media buy.
Monitoring Vehicle Performance
In an ideal world, every vehicle on the campaign schedule wouldperform at or above expectations. Likewise, every advertisement,MK0007 Advertising Management and Sales Promotion - 2 -
 
 
commercial and posting would run exactly as planed. In reality,underperformance and schedule problems are facts of life. Thebuyer’s response to these problems must be swift and decisive.Poorly performing vehicles must be replaced or cost must bemodified. Production and schedule difficulties must be rectified.Delayed response could hurt the brand’s sales.Post Campaign AnalysisOnce a campaign is completed, the planers’ duty is to compare theplan’s expectations and forecasts with what actually happened. Didthe plan actually achieve GRP, reach, frequency and CPMobjectives? Did the newspaper and magazine placements run in thepositions expected? Such analysis is instrumental in providing theguidance for further media plans.
Billing and Payment
Bills from various customers come in continuously. Ultimately, it isthe responsibility of the advertiser to make these payments.However, the agency may be contractually obligated to pay theinitial invoice; or, because of various negotiations between theagency and selected media, it may be advantageous for the agencyto make the payment and then bill the client. Keeping track of it andpaying the bills is the responsibility of the media planner inconjunction with the Accounting Department. These six tasks are the highlights of media buying
2. Compare the different approaches to setting advertisingbudgets, in terms of their relative advantages anddisadvantages.Answer: Common Budgeting ApproachesSelecting the Right Advertising Approach
Once a company decides what type of specific advertising campaignit wants to use, it must decide what approach should carry themessage. A company is interested in a number of areas regardingadvertising, such as frequency, media impact, media timing, andreach.
1. Frequency:
Frequency refers to the average number of timesthat an average consumer is exposed to the advertising campaign.A company usually establishes frequency goals, which can vary foreach advertising campaign. For example, a company might want tohave the average consumer exposed to the message at least sixtimes during the advertising campaign. This number might seemhigh, but in a crowded and competitive market, repetition is one of MK0007 Advertising Management and Sales Promotion - 3 -

Activity (15)

You've already reviewed this. Edit your review.
1 hundred reads
'Parag Joshi liked this
'Parag Joshi liked this
Abey Francis liked this
peleipua5 liked this
chandra1001 liked this
fresh_oke liked this
ersaini83 liked this
Kamalakshya Saha liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->