Advertising Final: Ch. 14: Media Planning and Buying

What is the definition of Media Planning?

• Directing advertising messages to the right people in the right place at the right time

What are some challenges in Media Planning? (5)

• Increasing media options o Difficult to reach a larger audience through a single medium because: − TV is fragmented − Specialized magazines target specific population − The web, social media, and other nontraditional media provide new options to choose from

What is the definition of Media Objectives?

• Media objectives translate the advertising strategy into goals

Synergy of media-mixed approach: What is the definition for Media-mixed approach?

• Media-mixed approach: Using a combination of advertising media vehicles in a single advertising campaign • Synergy

Criteria for Selecting Individual Media Vehicles

• Overall Campaign objectives and strategy • Characteristics of media audiences

What is the Advertising Response Curve?

**After we get exposed to the same advertisement 3 Times we get sick of it! On TV, Newspaper, Social media everywhere, its three times

What is the formula for CPM?

CPM=Cost/Total Impressions x 1000

Audience Size and Message Weight**Focus on these topics in the book: What is Circulation? What is Advertising Impression? What are Gross Impressions? What is Rating?

Circulation: • Includes subscription and vendor sales and primary and secondary readership Advertising Impression • Possible exposure of the advertising message to one audience member Gross Impressions • Total of all the audiences delivered by a media plan Rating • Percentage of homes or individuals exposed to an advertising medium

What are the Methods for Scheduling Media?

Continuous Schedule • Advertising runs steadily with little variation (Many radio stations use this) Flighting • Periods of advertising are alternated with periods of no advertising at all Pulsing • Mixing continuity and flighting strategies

What is an example of TCPM

Example of TCPM Target audience: 4,500,000 x 0.3 ($100,000/1,350,000)x 1000=74.07

What are some factors in the Media Strategy? (5)

Markets • Various targets of a media planner Money • How much to budget and where to allocate it Media • Communications vehicles available to a marketer Mechanics • Dealing creatively with the available advertising media options Methodology • Overall strategy of selecting and scheduling media vehicles

What is the definition for Media Buyer?

Media Buyer − Responsible for negotiating and contracting the purchase of ad space and time in various media − Software programs

What is Reach? What is Frequency? What is Continuity?

Reach: • Total number of different people or households exposed to an advertising schedule during a given time Frequency: • Number of times the same person or household is exposed to a vehicle in a specified time span **Like hearing a tanning salon advertisement on the radio every week, like 5 times a week. Is frequency Continuity: • Duration of an advertising message or campaign over a given period of time

What is the formula for TCPM?

Target CPM (TCPM): Cost per thousand to expose a message to the target audience (Cost/#of target audience) x1000

In Challenges in Media Planning: What are some difficulties in finding prospects for advertising? (6)

o Difficulties in finding prospects for advertising − Readers and viewers are scattered across new media options − Audiences are selectively and partially consuming media − Consumer's are spending more time with less traditional media o Increasing costs due to the restriction by media on the number of ads sold o Increasing complexity in media buying and selling o Increasing competition

What factors Increase Attention Value? (6)

• Audience involvement with editorial content or program material • Specialization of audience interest or identification • Number of competitive advertisers • Audience familiarity with the advertiser's campaign • Quality of advertising reproduction • Timeliness of advertising exposure

Defining Media Objectives: What are the two Components?

• Components: − Audience objectives: Definitions of the specific types of people the advertiser wants to reach − Distribution objectives: Where, when, and how advertising should appear

Cost-efficiency of media vehicles: What is cost-efficiency? What is the definition for CPM?

• Cost-efficiency of media vehicles − Cost-efficiency: Cost of reaching the target audience through a particular medium as opposed to the cost of reaching the medium's total circulation − Cost per thousand (CPM): Cost of reaching 1,000 people in a medium's audience

What is the Marketing Framework for Media Planning? (7 step process)

• Situation analysis --> • Marketing Plan --> • Advertising Plan --> • Setting media objectives --> • Determining media strategy --> • Selecting broad media classes --> • Selecting media within classes

What is the definition of Attention value?

− Attention value: Determined by the degree of attention paid to ads in particular media by those exposed to them

What is the definition of Exposure value?

− Exposure value: Value of a medium determined by how well it exposes an ad to the target audience

What are the Key Skills of Media Buyer? (3)

− Knowing the marketplace − Negotiating the buy − Monitoring performance

What is the definition of Motivation value?

− Motivation value: Determined by the medium's ability to motivate people to act

In Media Planning: What are Considerations for the media planner?

− Place of advertising − Media vehicles − Time, period, and frequency for advertising − Opportunities for integrating advertising with other communication tools