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department. y In large companies : handled by a separate advertising department. y Most companies use an outside agency.
The 5 M s of Advertising
Mission
y An advertising goal is a specific communication task & achievement level to be accomplished with a specific audience in a specific period of time.
Advertising objectives can be classified as: y Informative advertising . E.g. products at introductory stage health drinks y Persuasive advertising. E.g. important at competitive stage detergent y Reminder advertising . E.g. automobile ads depicts satisfied customers enjoying special features of their new car.
Money
y Advertisement has a carryover effect that lasts beyond
There are 5 factors to be considered when setting the advertising budget: y Stages in the product life cycle y Market share and consumer base y Competition y Advertising frequency y Product substitutability
Message
y Creativity factor can be more important than the no. of
rupees spent. Message generation Message evaluation & selection Message execution Social responsibility review
Media
y Deciding on reach & frequency y Choosing among major media types y Deciding on media timing
Measurement
y Communication effect research
It seeks to determine whether an ad is communicating effectively. y Sales effect research It seeks to determine what effect does the advertisement have on sales. It is more difficult to determine than communication effect.