Quiz 4
Relative to a domestic capital market, a global capital market
-has a greater supply of funds available for borrowing which makes the cost of capital lower for borrowers. -allows investors to diversify portfolios of holding internationally, therefore reducing risk
Growth of capital in recent decades
-information technology advances -deregulation of financial services -relaxation of regulations involving cross-boarder capital flows
Seven Spiritual Values ( Mitsubishi)
-national service through industry -fairness -harmony and cooperation -struggle for betterment -courtesy and humility -adjustment and assimilation -gratitude
Organizational Culture and performance
-necessary for strong unity -good to establish new subsidiaries in order to adapt to new cultures and understand thier business -need for common culture across a global entity
Types of Control systems
-personal: personal contact w/ subordinates (small firm) -Bureaucratic: system of rules and procedures (budgets) -Output: sets goals for subordinate to achieve in terms of profitability, growth,market share, and quality -cultural control: employees "buy into" the values and norms of firm
Reasons for listing Stock in the Equality markets of other nations...
-primarily as a prelude to issuing stock in those markets to raise additional capital -facilitate in future stock swap trade -enable a company to use its stock and stock options for compensating local management and employees -satisfy local ownership desires -increase the company's visibility to local employees, customers,suppliers, and bankers
Strategic significance of Experience
-progressing down curve allows firm to reduce costs -increase volume of plant production as quickly as possible -low cost position can be barrier to new competition
Leveraging Subsidiary skills
-skills can be created in foreign markets, not just at home -apply skills to other opperations in firm -manager challenges ~humility to recognize valuable skills ~Incentive program to encourage new skills ~process to identify when new skills are made
Incentive Systems
-type used depends on employee and task -successful execution of strategy often requires cooperation between managers in different subunits -often have to be adjusted to account for national difference and culture -can have unintended consequences
What are the 6 major media types that we have discussed up to this point in the semester? What are the traditional forms of media?
.
What is the objective of a media plan?
.
How many people are watching television in high definition?
1 in 5 or 18%
What are the two key pieces of information you need to successfully market your product?
1- An understanding of how your consumers view and use your product or service. 2- How they view and use different media types.
What are the 4 primary tasks of advertising media?
1- Planning how best to use the media to convey the advertising message to the target consumer. (The Media Planner) 2- Buying media space and time for the message. (The Media Buyer) 3- Selling that space and time to the advertiser. (The Media Seller) 4- Analyzing the relationship between consumers, media, and the brands that advertise to them in those media.(The Media Researcher)
What are the 3 main elements involved in media objectives?
1- defining the target audience 2- setting broad communication objectives 3- considering creative requirements
Role of the IMF
1. Avoid a repetition of the competative devaluations of the 1930s 2.control price inflation by imposing monetary discipline on countries
Tactics to ensure against transaction and translation exposure:
1. Buying Forward 2. Currency Swaps 3. Lending and lagging payables and recievables
Function of Foreign Exchange Market
1. Convert currency of one country to another 2. Provide insurance against foreign exchange risk
To manage foreign exchange effectively:
1. Firm must exercise centralized oversight over its foreign exchange hedging activities 2. Recognize the differences between transaction and economic exposure 3.Forcast future exchange rate movements 4.Establish good reporting systems within the firm to monitor exposure positions 5. Produce regular foreign exchange reports that can be used as a basis for action
Case for Floating Exchange Rate Regime
1. Such a system gives countries autonomy regarding their monetary policy 2.Floating exchange rates facilitate smooth adjustment of trade imbalance
Three types of exposure to foreign exchange risk:
1. Transaction Exposure 2. Translation Exposure 3. Economic Exposure
When do advertisers purchase long-term buying on TV?
1. When advertisers believe that prices are likely to increase 2. or when advertisers want to get more value per dollar
Considerations in planning & buying media
1. how well the plan delivers the designated marketing targets at the.... 2. a planner must go through a calculate process of matching the cost of various media alternatives with....
Elements of Media Plan
1. summary 2. situation analysis 3. creative brief 4. media objectives/strategies 5. supplemental materials
Case for Fixed rate Regime
1.Imposes monetary discipline on a country 2.Floating exchange rates are vulnerable to speculative pressure 3. Uncertainty that accompanies floating exchange rates dampens the growth of international trade and investment 4.Far from correcting trade imbalances, depreciating a currency on the foreign exchange market tend to cause price inflation.
Three types of Interactivity:
1.Non-Interactive, Reactive, and Interactive
GRPs (relation to universe)
100 GRPs = Size of the universe 1 GRP = 1% of universe
tabloid
11 x 17 inch paper; also known as ledger paper
How many types of television programs formats are there?
12
% of radio listeners (99%) a week that listen at the avg. time during radio's prime times
25-30%
Effective Frequency
3+ or the at least column of frequency distribution table. Simply go to the table and look at the 3+ number.
What percent of U.S. households have DVRs?
32%
How many people listen to the radio online each month?
69 million people
Yankelovich
8 MindBase groups Consumer social values lifestyles and attitudes
What percent of recall did consumers have watching TV shows on the web?
80%
Gatefold
A special space unite in magazines, usually consisting of one full page plus and additional page or part of page that is an extension of the outer edge of the original page and folds outward from the center of the magazine as a gate.
Target audience
A specific group of people for which you design your documents; can be categorized by age, gender, income, etc.
Preemptible Spot
A spot announcement sold at a reduced rate because that station has the option to sell that same spot to another advertiser willing to pay full rate.
Tabloid
A standard American paper size that is 11 x 17 inches; Sometimes referred to as ledger paper.
Letter
A standard American paper size that is 8.5 x 11 inches.
Legal
A standard American paper size that is 8.5 x 14 inches.
CRM (Customer Relationship Marketing) is:
A tactical marketing practice based on customer behavior. It relies on the belief that if a business is able to retain its positive relationship with its customers, it will prosper
Spiral binding
A type of binding that secures pages by using metal combs or plastic combs that fit into holes punched along the edge of the pages; allows the publication to lay flat when opened.
Saddle stitch
A type of binding that staples down the middles of folded pages frequently used to assemble booklets.
Newsprint
A type of paper that is low quality and inexpensive.
Accordion fold
A zig-zag fold with six panels and two parallel folds that go in opposite directions.
Exporting
ADVANTAGES -avoid costs of setting up a new manufacturing operation -help achieve learning cure and location economy DISADVANTAGES -not appropriate if lower cost opportunities abroad -global or transnational strategies may choose to pursue where the mix of factor conditions is most favorable -tariff barriers
Advantages and Disadvantages of turnkey projects
ADVANTAGES -great way to earn economic returns from an asset -useful when FDI limited by the host government -less risky than conventional FDI DISADVANTAGES -No long term interest in foreign country (miniority equity interest to get around this) -may inadvertently create a competitor -if firm's technology is their competetive advantage, selling it is also selling the advantage to an actual/ potential competitor.
Above-the-Line/Below-the-Line
Above = paid advertising Below = sales promotion, PR, events
What is the difference between accumulated reach and unduplicated reach?
Accumulated reach is the total of one media vehicle while unduplicated reach is the total reach of two or more vehicles.
Paid Media
Ad sponsored content such as television, magazines, online website, etc.
Factors that Impact Budget Size
Advertising Task Long vs Short Term Degree of Product Usage National vs Regional Product Life Cycle Competitive Activity
Cooperative Advertising
Advertising run by a local advertiser in conjunction with a national advertiser.
Dominant characteristic of media today
Audience fragmentation and technological advancements
Disadvantages of radio
Audio only Clutter Low attention getting Fleeting message
Insertion Order
Authorization from an advertiser or agency to a publisher to print and advertisement of specified size on a given date or dates at a definite rate.
Average Frequency
Average number of times an individual was exposed to a campaign Refers to exposure to a medium, not a specific advertisement
Index
Average the cost for 3 markets, then divide each market cost by the average and multiply by 100
Digital Destination is:
Brand Awareness-Desire-Information-Entertainment-Editorial best examples: Tide, Nabisco, Nike, ESPN
BDI
Brand Development Index - compares sales of category by brand with potential for sales based on population
Function of the Capital Market
Bring those who want to invest money together with those who want to borrow money
Difference between CPM and CPP
CPM is cost per thousand. The standard for comparing one medium to another. CPM=unit cost/audience X 1,000. This is the measure of value for the medium. CPP is cost per rating point. Primarily used in broadcast cost analysis. CPP=Unit cost/rating
Medium
Can be anything from television, internet, radio, or alternative media such as cinema or even a urinal.
CDI
Category Development Index - compares overall sales of category
How to calculate total print audience
Circulation X Readers per copy. For example, if Badass Weddings has a circulation of 500,000 and readers per copy of 5, then its total audience would be 2,500,000.
What are the two dimensions of print audiences?
Circulation and Readers per copy
37129
Cities: Murfreesboro, TN (25.13%), Walterhill, TN (0.96%), Smyrna, TN (0.09%) County: Rutherford County, TN Males: 23,734 (49.9%) Females: 23,788 (50.1%) For population 25 years and over in 37129: High school or higher: 89.3% Bachelor's degree or higher: 30.7% Graduate or professional degree: 9.1% Unemployed: 7.7% Mean travel time to work (commute): 25.0 minutes For population 15 years and over in 37129: Never married: 25.4% Now married: 54.9% Separated: 1.6% Widowed: 4.8% Divorced: 13.4% Zip code 37129 compared to state average: House age below state average.
37132
City: Murfreesboro, TN County: Rutherford County, TN MTSU Males: 1,359 (48.5%) Females: 1,443 (51.5%) For population 25 years and over in 37132: High school or higher: 100.0% Bachelor's degree or higher: 69.1% Graduate or professional degree: 0.0% Unemployed: 8.2% Mean travel time to work (commute): 14.3 minutes For population 15 years and over in 37132: Never married: 97.3% Now married: 1.2% Separated: 0.0% Widowed: 0.0% Divorced: 1.5% Zip code 37132 compared to state average: Median household income significantly below state average. Median house value significantly below state average. Median age significantly below state average. Foreign-born population percentage above state average. Renting percentage significantly above state average. Length of stay since moving in significantly above state average. Number of rooms per house significantly below state average. House age significantly below state average. Number of college students significantly above state average. Percentage of population with a bachelor's degree or higher significantly below state average.
Multimedia is:
Combining the computational data, text, graphics, and sound into one easy-to-create, and easy-to-distribute package
Who were the two biggest cable providers in 2008?
Comcast and Time Warner
3 Major roles of Media in Society
Communicate Entertain Offset media cost
What does CDI measure?
Compares sales within a product category with potential sales for that category
CPM
Cost per Thousand (Mil) Used in making purchase decisions
CPP
Cost per gross rating point
CPM
Cost per thousand impressions
Primary Activities
Design, creation, delivery, and marketing and suppoert (after sale) of a product
What is DMA and why is it important?
Designated Market Area (DMA) A defined television viewing area (210 of them) Non-overlapping Defined by The Nielsen Company Usually includes the counties that spend the largest share of viewing hours tuned to the local chanels Reevaluated in September (changes usually in fringe areas)
Target Market Profile
Detailed explanation of a typical consumer of a segment Additional section of IMC plan Gives all those involves in planning process a general idea of the key elements of the primary target markets and audiences of a campaign
Buying an Online Ad Factors:
Determine your goal(s), select your site, determine payment method, negotiate price, run the ad
Critical first step to media plan
Determining how clients and competitors allocate their media budgets
direct purchase
Did this ad make a business impact?
TV Dayparts
Different times of the day broken down Morning Daytime Early fringe Prime-time
Who are the primary providers of satellite television?
Dish Network and DirecTV
Reach Pattern
Distribution of individual continuity over target audience individuals so as to maximize effective reach and, if intended, active effective reach during the planning period.
Half fold
Dividing the page in half; often called a booklet fold.
Low Involvement Feeling
Do - Feel - Learn Beer, soft drinks
Low Involvement Thinking (FCB Grid)
Do - Learn - Feel Liquid Bleach
MRI
Dominant source of consumer and media research in the US Most comprehensive Most used 6000 brands
Audience for digital media
For example, gaming has a large amount of older women who play games even though the core audience is young men. Twitter has a range of users with from media to the very affluent as well as a strong ethnic audience with Hispanics and African Americans. Facebook now has as many users over the age of 35 as under the age of 35.
How to calculate unit ratings and shares
For example, suppose you had a HUT of 60(total households tuned to television) and a program share of 30, the rating would be 18 (HUT x share= rating)=60x.30=18. Or if you had the same 60 HUT and a rating of 15, the share would be 25 (rating/HUT=share)=15/60=25.
Kiosks is:
Free standing computer terminals equipped with touch screen technology, provide, and obtain information from users
Dayparts
How broadcast organizes their inventory. This is how they organize their programming that they sell to advertisers
MPR (Marketing Public Relations) is:
IMC Tool intended to create good will for a person or an organization
Managed Float System
Increased the importance of currency management in international business -Companies build strategic flexibility and limit their economic exposure by dispersing production to different locations around the globe. REDUCES VOLATILITY
What is an aided survey method?
Where you offer some kind of memory aid, such as mentioning something from the advertisement or giving an actual list of brand names and asking for further information on the advertising. You are basically asking people to recognize a brand and/or advertisement when it is placed before them.
Media Planning Decisions
Which media to use Time of year to run advertising Continuous or intermittent How much is enough? How much is too much? Geographic coverage
Yesterday Reading Technique
Which newspaper did you read yesterday?
citizen journalism
a grassroots movement wherein activist amateurs and concerned citizens, not professional journalists, use the Internet and blogs to disseminate news and information.
vellum
a handmade paper made from treated animal skin, used in the Gutenberg Bibles.
Card Stock
a heavy weight of paper; typically used for business cards, greeting cards, post cards, etc.
vitascope (p. 191)
a large-screen movie projection system developed by Thomas Edison.
Table of contents
a listing of the major entries in a publication
webzines
a magazine that publishes on the Internet.
style
a named group of character and paragraph format that can be applied to text
yellow journalism
a newspaper style or era that peaked in the 1890s, it emphasized high-interest stories, sensational crime news, large headlines, and serious reports that exposed corruption, particularly in business and government.
magazine
a nondaily periodical that comprises a collection of articles, stories, and ads.
Newsletter
a printed report or letter containing news of interest to a particular group
Spot color
a printing technique that uses one premixed color ink for each color used in a publication
fair use
a section of the U.S. copyright law that allows the use of copyrighted works in reporting news, conducting research, and teaching
Eurobond Market
attractive way for companies to raise funds due the the absence of regulatory interference,less stringent disclosure requirements, and favorablle tax status.
TV: What to negotiate for?
audience (ratings), impact (TRPs, will they remember ad?, value added), cost (efficiency)
Radio: What to negotiate for?
audience (station formats fitted to target audience), impact (attention levels, value added, commercial positioning/creativity), cost (efficiency)
AQH
average quarter hour (radio ratings) (snapshot)
Attentional
aware of message
illuminated manuscripts
books from the Middle Ages that featured decorative, colorful designs and illustrations on each page.
paperback books
books made with cheap paper covers, introduced in the United States in the mid-1800s.
carry trade
borrowing a currency where interest rates are low and investing where other currency rates are high
Tonnage or Quality: last minute/distress
both tonnage and quality
What does it mean when someone says the Ellen show cleared in 70% ?
broadcast tv stations seen by 70% of all TV viewers have purchased that program
arbitage
buy low sell high
What are typical communication objectives?
campaign timing category reach and frequency
Media Mix
chosen media types & buys - the interplay btwn all promos, client & brand
Color wheel
circle containing a spectrum of color
Custom color
color designed by the user specifically for a document
Pantone
color matching system that uses a series of cards to identify specific colors
RGB (red, green, blue)
color model used to display color on computer monitors, televisions, and similar devices
Split-complementary colors
color scheme consisting of one color combined with the two colors located on either side of its opposite
Subtractive color
color that becomes white when all colors have been removed or subtracted; CMYK colors are called subtractive colors
Analogous colors
colors located adjacent to each on the color wheel
Complementary colors
colors located directly opposite one another on the color wheel
wire services (p. 225)
commercial organizations, such as the Associated Press, that share news stories and information by relaying them around the country and the world, originally via telegraph and now via satellite transmission.
Major implication of the global market capital...
companies can often borrow funda at a lower cost of capital in the in the international capital market than they can in the domestic capital market
When borrowing funds from the global capital market...
companies must first weigh the benefits of a lower interest rate against the risks of greater real costs of capital due to adverse exchange rate
Evolution of Strategy
competitors eventually emerge and if managers aren't proactive to reduce cost structure, it will be over come by global competitors.
Company Infrastructure
context to which all other value creation activities occur -organizational structure, control systems, culture, and top management
The way online advertisers target their ads.
contextual ads that are served to relevant editorial. There are behavioral ads that are served to consumers based on their recent online history. There are geo-targeted ads which are based on either contextual or behavioral which are then targeted by zipcode.
Strategic Alliances
cooperative agreement between potential or actual competitors. Range from a formal joint venture to short term contractual agreements
C
cost of production per unit
What are some disadvantages to advertising on television?
cost, limited exposure time, cluttered air waves, and poor placement of ads within or between programs
Reach
count of people with at least 1 impression (% of the universe)
generate repeat purchases/visits
create incentives to buy and buy again like frequent buyer programs and coupons
Shade
created when black is added to a color
Tint
created when white is added to a color
Guerrilla media buying options?
cross platform buying, media remnants, online auctions & bidding platforms, barter, call for proposals
Encoding
derive info from the environment
shape
design element that includes geometric, natural, or abstract shapes
copyright laws
designed to protect intellectual property rights and provide potential monetary rewards for inventiveness and hard work
Local stations
develop their own programming where they control their advertising inventory.
direct interactions
developing a relationship, not necessarily a purchase
incentives
devices used to reward appropriate managerial behavior
contrast
differences in values, colors, textures, shapes, and other elements in a presentation
Half fold
dividing the page in half; often called a booklet fold
message dominance
dominate media share in every category
In general, advertisers ______ choose where their commercial airs in the pod
don't get to
Net
each individual counted once
What are some factors that help explain sales trends?
economic, social, political, and cultural trends
Bretton Woodssystem of fixed exchange
established in 1944 us dollar system was the central currency of this system( all other currency pegged to this value) significant exchange rate devaluation only allowed with permission of IMF
support for/participation in promos
ex. McDonald's monopoly
Communication of color
eye/mind perception of color; meanings associated with color
Wholly Owned Subsidiary
firm owns 100% of greenfield venture or acquisition ADVANTAGES -protection of technology -engage in global strategic coordination -Ability to realize location and experience economies -reduce risk of losing control of core competencies DISADVANTAGES -high cost high risk
When setting objectives they must be...?
firm to demonstrate how it will help your brand achieve its marketing goals. You must first reaffirm and clarify the goals of your complete advertising program to ensure that your media objectives fit in with the goals set in your brands marketing objectives.
What are the benefits of advertising on the internet?
flexibility personalization reach measurability
gatefold
folding the sides in toward the middle of a page
Gatefold
folding the sides in toward the middle of the page
International Fisher Effect
for any two countries, the spot exchange rate should change an equal amount but in opposite directions to the difference in nominal interest rates.
Script
formal or informal typefaces designed to imitate handwriting
conflict-oriented journalism
found in metropolitan areas, newspapers that define news primarily as events, issues, or experiences that deviate from social norms; journalists see their role as observers who monitor their city's institutions and problems.
consensus-oriented journalism
found in small communities, newspapers that promote social and economic harmony by providing community calendars and meeting notices and carrying articles on local schools, social events, town government, property crimes, and zoning issues.
How do index numbers work?
Index numbers characterize the magnitude of economic changes over time. They can describe trends in a change of any economic data such as retail prices, an employment rate, a company revenue or Gross Domestic Product. Index numbers are always calculated with respect to a base period: a year, a month or a quarter. 1 Obtain a value for the base period. For instance, the company revenue was $2,500,000 in 2005. 2 Obtain the value for another period you wish to compare to the base one. For instance, the revenue of the same company became $3,600,000 in 2008. 3 Divide the number from Step 2 by the base period value, and multiply the quotient by 100 to calculate the index number. In our example : Index number = ($3,600,000 / $2,500,000) x 100 = 144. Since 100 is the full amount of the base period (or 100%), subtract 100 from your answer. This indicates the revenue growth by 44 percent in comparison to the base year.
Advergames is:
Interactive online games specially designed to deliver brand messages to players
What are some of the lifestyle/life stages found in the zip codes 37128
franklin is part of this Males: 18,337 (47.7%) Females: 20,131 (52.3%) For population 25 years and over in 37128: High school or higher: 94.2% Bachelor's degree or higher: 37.0% Graduate or professional degree: 11.7% Unemployed: 8.3% Mean travel time to work (commute): 26.1 minutes For population 15 years and over in 37128: Never married: 25.6% Now married: 58.9% Separated: 1.4% Widowed: 3.6% Divorced: 10.4% Zip code 37128 compared to state average: Median age below state average. Length of stay since moving in significantly below state average. House age significantly below state average. Percentage of population with a bachelor's degree or higher above state average. Read more: http://www.city-data.com/zips/37128.html#ixzz2hKFDPZox
Big Five (p. 195)
from the late 1920's through the late 1940's, the major movie studios that were vertically integrated and that dominated the industry. The Big Five were Paramount, MGM, Warner Brothers, Twentieth Century Fox, and RKO. The Little Three were those studios that did not own theaters: Columbia, Universal, and United Artists.
support new targets
go after test markets and see what happens
Universe (population)
group of people in specific geographic area who share common characteristic
rate base
guaranteed circulation against which the rate for ads is based
card stock
heavy weight paper; typically used for business cards, greeting cards, etc.
Marketing and Sales
help create value in ways that include communicating customer needs to R&D -brand positioning and advertising to increase value (v) -a higher v allows for a product to have a higher price
What are the benefits of advertising in magazines?
high-end audiences the enthusiasm of those audiences the long issue life of the medium
Quality includes:
higher priced dayparts, higher ratings, measured audiences, no overnight/late late night, specific programs, selective programming, stronger stations, no gratuitous sex/violence, last minute/distress, fixed schedules, audience guarantees, value added opportunities
Geographic Allocation
Most common Typically based on area sales and market share (BDI)
Payout Planning
New Product introductions Require more liquidity up front Full available (brand does not earn sufficient money to pay for advertising) Investment in long term
Click-through-rate is:
New media response measurement, percentage comparing the number of times an ad is clicked to the number of time that banner is viewed
Media Budget Allocation
No direct correlation between amount spent on advertising and sales Sufficient spending to achieve desired communication effect Must consider competitive spending Both craft and science
What is an unaided survey method?
No prompts or assistance are provided. Demands more on the part of consumers asking them to recall the info you are seeking.
Can you add Grps across markets?
No you cannot because they have different target bases.
Flighting Scheduling
Occurs during different seasons or times
Exposure
Occurs when a person actually "consumes" an advertisement When used as a synonym, think medium and not advertisement
Waste
Occurs when the message coverage exceeds the target audience; becomes deadweight loss
How do you calculate share of market? What does market share convey?
Once you have looked at the trends for your brand and its competitors, you must then put that information together and see how your brand is fairing in the marketplace. The percentage of total category sales that your brand enjoys is known as the market share.
Share of Requirements
One of the most useful pieces of information oyou can examine is the source of your brand's sales. This is known as the share of requirements. It is calculated by taking the percentage of total category volume accounted for by a particulars brand's users. It tells you whether your brand is being bought primarily by your customers or by your various competitors.
Row
One of two or more horizontal sections of typed lines lying above or below each other on a page and separated by a rule or a blank space
Dimensions of online advertising
Online consists of email, display, search, sponsorships, and other niche elements
Three types of media
Paid, Earned, and Owned
Creative Strategy
Part of an advertising plan that tells writers and artist what the advertising is going to say and provides some direction about how it will be said
Secondary Audience
Pass-along readers who read a publication that did not purchase.
Media Mix (definition)
Percentage; the allocation of companies media budgets
PUMM
Persons using measured radio in a given period relative to the universe
PUR
Persons using radio in a given period relative to the universe
Net Reach (Reach)
Persons with at least one impression to an advertisement
Media Planner (job description)
Plans how to best use media to convey the advertising message to the target audience
Gross Impressions
Population X GRPs
Share
Portion of TV or Radio audience tuned to a specific program or station
Coverage (newspapers)
Portion of households in a market that fall into the publication's delivery area
Purchasing Power Parity (PPP)
Price of a basket of particular goods should be roughly equivalent in each country. Exchange rate will change will change if relative prices change.
What are the two major types of media divisions?
Print v. Electronic Active v. Passive
The Consumer Decision Process
Problem Recognition Information Search Alternative Evaluation Purchase Decision Post-Purchase Evaluation
Which is the biggest of the big marketers?
Proctor & Gamble
HUTs
households using TV
ratings
how much of a target audience group we can get in touch with at a certain time
shares
how much of an available target audience group we can get in touch with (HUTs)
Share of Voice
how much of brand's voice & it's competitors have in market place
Fisher Effet
i = r+I fins nominal interest rate (real+ expected)
Translation
if match is found (sensory, short term, long term) a respond code is translated
oligopoly (p. 192)
in media economics, an organizational structure in which a few firms control most of an industry's production and distribution resources.
acquisitions editors
in the book industry, editors who seek out and sign authors to contracts.
subsidiary rights
in the book industry, selling the rights to a book for use in other media forms, such as a mass market paperback, a CD-ROM, or the basis for a movie screenplay.
Syndication programs
markets their programming to various local stations in exchange for ad time that appear at various times on the various stations.
Fragmentation of media
means that it is more difficult to generate high levels of reach today than in the past due to fragmentation of audience and cost of media.
reach
measure of message dispersion (unique visitors)
frequency
measure of message repetition, insertions that hit target
Calc Media Mix
media selection by % of campaign money allocated
Radio opportunities for advertisers
merchandising/promotions and live commercials
Control Systems
metrics used to measure the performance of subunits and make judgements on how well managers are running the units
Where are media remnants available?
most media.
megaplexes (p. 212)
movie theater facilities with fourteen or more screens.
narrative films (p. 191)
movies that tell a story, with dramatic action and conflict emerging mainly from individual characters.
talkies (p. 196)
movies with sound, beginning in 1927!
Product Protection
Protection that an advertiser wants and sometimes gets against being positioned adjacent to a competitive product.
Print Media
Publications such as newspapers, magazines, direct mail, outdoor, et. al.
Opportunistic Buying
Purchase at the last minute, picking up whatever remains available
Role of unconventional media
Purpose of these media is to attract attention and generate publicity. Guerilla is an example of earned media
Effective Frequency
Puts a lot of pressure in a short time to emphasize frequency over reach. It is used by retailers and fast food restaurants as a short term promotional strategy.
Media buying is the process of
negotiating all the particulars of a media plan with media sellers (negotiating what media value you want or must have)
Recency
Puts pressure continually at the time of purchase. It aims to be in the market all of the time. It emphasizes reach over frequency. It is used by mature package goods advertisers.
Which Media Buying Philosophy involves highest demand inventory?
Quality
Arbitron
Radio audience data
Disadvantages of Spot Buying
Rate variation by market Demand of leads differs by market Space and time differs by market State license variation
Calculating Reach and Frequency
Reach X Frequency=GRPs 75% reach X 8.0 Frequency=600 GRPs 600 GRPs=8 frequency what is reach? 75
Rating
Reach for an individual vehicle expressed as a percentage of that universe
Reach/Frequency/GRP Relationship
Reach x Frequency = GRPs
What are the four main types of television?
network syndication spot (local) cable
Sponsoring a Call for Proposals (Guerrilla Media Buying) generates ____ and likely save some ____
new ideas, money
Comparison
new info is compared with previous memories
human-interest stories (p. 224)
news accounts that focus on the trials and tribulations of the human condition, often featuring ordinary individuals facing extraordinary challenges.
literary style
news reports that adapt fictional storytelling techniques to nonfictional material; sometimes called NEW JOURNALISM.
How to calculate a short rate or a rebate
Rebate=say that a local store chain plans on using 140,000 column-inches of advertising during the coming year, so it signs a contract to pay the corresponding advertising rate, which is $9 per col-in of space. By the end of the year, the advertiser actually used 160,000 col-in of space, so it should have been paying $8.50 per col-in. So you take the space actually used(160,000) and multiply it by the rate differential (.50)=a rebate of $80,000 Short Rate-If the advertiser had the same contract of 140,000 col-in. at $9/col-in. and the advertiser actually used 95,000 col-in. there would be a short rate of $47,500. 95,000 X .50=$47,500
investigative journalism
news reports that hunt out and expose corruption, particularly in business and government.
supermarket tabloids
newspapers that feature bizarre human-interest stories, gruesome murder tales, violent accident accounts, unexplained phenomena stories, and malicious celebrity gossip.
What does ROI mean and why is it important?
Return on Investment
ROI
Return on investment
Mock layout
Rough draft of the finished publication that shows the major elements of the publication.
Eurobonds
normally underwritten by an international syndicate of banks and placed in countries other than the one in whose currency the bond is denominated
Strip Programming
Running of a television or radio series at the same hour on each weekday. Similar but different programs telecast at the same time through out the week. The same program, but different episodes, broadcast several times weekly at the same time.
e-Bazaar is:
Sale-Convenience-Selection best examples: Ebay, Amazon
people
not just employees. Also the strategy used to recruit, compensate, and retain those individuals and the type of people that they are in terms of skill, values, and orientation
Buying Print Media today
not uncommon to gain concessions from publishers hungry for ad revenue
What are some benefits of advertising on television?
TV's ability to imitate real-life situations, its pervasiveness, and its broad reach
Cost Efficency
The effectiveness of media as measured by a comparison of audience, either potential or actual, with cost and expressed as a CPM
Targeting (definition)
The focus of all marketing activities toward a previously identified profitable segment of a market
Audience Coverage
number or % reached by a single insertion or exposure in a specified area
Wireless Technology is:
The most common application of this technology in the world is telecommunications
What does reach mean?
The number (or percentage) of the target audience that will be reached by the brand's advertising in the media. That number is determined by calculating what percentage of the target audience will be exposed to the media in which your ad appears
Bandwidth is:
The number of bits per second that can be transmitted, and received through a give channel
Active Effective Reach
The number of target audience individuals who retain the effective frequency levels for a given duration after the previous advertising cycle.
Average Frequency
The number of times the average home (or person) reached by a media schedule is exposed to the advertising. This is measured over a specific period of time, for example, four weeks in broadcast media.
Digitization is:
The translation of textual, graphic or audio information into a transmittable binary language understandable to computers
Asymmetrical balance
The type of balance when both sides of the central axis are not identical, yet appear to have the same visual weight.
Viral Marketing
The use of social networks to spread a marketing message.
Repetition
The use of the same visual effects a number of times in the same project
Flow
The visual path created by the arrangements of elements.
Z-pattern
The visual path that draws the eye from top left to top right down to bottom left and then to bottom right.
Focal point
The visually dominant elements in a presentation the center of interest
The rate of Change in a Country's relative prices depend on
Their relative inflation rate.
The way broadcast is purchased
There is an upfront market with purchases in May for the 4th quarter through the 3rd quarter of following year. The upfront market was built for the auto industry to introduce new car models. There is scatter purchases which are quarterly and last minute purchases called opportunistic.
Masthead
often located on the first inside page or the editorial page of a publication; contains information such as publisher, staff and contact information
Automatic
on autopilot
Moving to the New State
once unfrozen, requires closing operations, reorganizing structure, reassigning responsibilities
papyrus
one of the first substances to hold written language and symbols; obtained from plant reeds found along the Nile River.
Row
one of two or more horizontal sections of typed lines lying above or below each other on a page and seperated by a rule or a blank space
Local stations can sell how much time on network programming?
one to three minutes per hour
Medium
one type of media (e.g. TV, or print, or worldwide web)
About _____ homes have a dvr
one-third
The global capital market provodes greater________ for businesses and individuals to build a truly diverse portfolio of internationa investment, which lowers risk
opportunity
Impression
opportunity for an individual to see an ad - measured
What are the benefits of radio advertising?
opportunity to reach targeted audiences frequently, at a reasonable cost. flexible messages local appeal imagery transfer building frequency
Continuous scheduling
Throughout the year
Which is the biggest of the big media companies?
Time Warner
Perfect binding
To bind pages together with glue to create a book.
What is the key opportunity with mobile marketing?
To build a database that you can constantly market to.
What is the role of the media planner?
To decide where and when the message should be placed, how often, and at what cost.
Universes (populations)
Total group of persons in a specific geographic area that share a common characteristic Have a geographic limit Can be made of households
Traditional/Non-Traditional
Traditional = major mass media Non-Traditional = unique media opportunities and new media forms
T/F: advertisers buying schedules typically interact with a computer system providing info on competitive bids and projected CTR
True
T/F: the buying process for Internet ads continues to evolve
True
Computer based Training is:
Tutorials, demonstrations, online classes, product trial
Creating a Global Web
Value creation activities w/ different stages of chain dispersed to locations around the globe where percieved value is max or cost of creation is min -firms using local economies should differentiate (raise v lower c) -difficulties w/ transport cost and barriers, gov situations, and foreign exchange risk
foster buzz & word of mouth
What is the value of a tweet?
Pioneering Costs
osts that an early entrant has to bear that a later entrant can avoid, happen because of differences in foreign market, devote considerable time, effort, and expense to learning rules of the game -late entrants benefit from observation -costs includes promoting and establishing product
ream
package of 500 sheets of paper
Which internet buying availability includes advertisers bidding on keywords and receiving payment/website redirection based on user clicks
paid search
Cable programs
pays the cable provider for access to their system and also provides national commercials in a consistent time period.
PURs
people using radio
Showings
percentage of population expected to see an ad; not target specific
mass
physical or visual size of a publication or an object in the publication
alignment
placement of text or graphics on a line (right, left, center, or justified)
implementation realities
planning targets, buying targets
Brand Personality
powerful traits agreed on by consumers - image of the brand
royalty free
prepared material that can be used legally, without paying a fee to the artist, publishing company, etc.; some material is available at no cost, however, most material must be purchased
What do buyers negotiate with the sellers?
price and other terms and conditions
p
price per unit
Hedge Funds
private investment funds that position themselves to make "long bets" on assets that they think will increase in value and "short bets" on assets they think will decline in value
public domain
property rights that belong to the community at large, are unprotected by copyright or patent, and are subject to use by anyone
Why would a government restrict the ability of its citizens to convert local currency to a foreign currency?
protect the countries foreign exchange reserves and halt any capital flight.
When do advertisers purchase short-term buying on TV?
purchase on a quarterly basis
perfect binding
putting pages together with glue to create a book
Tonnage or Quality: measured audiences
quality
Tonnage or Quality: selective programming
quality
What are the drawbacks of radio advertising?
radio is usually background noise short message life fragmentation
In opportunistic buying, describe rates, choice, and flexibility
rates-lowest (most favorable) choice-little flexibility-little to none
RPC
readers per copy (not verified; don't buy against this)
Clip art
ready-made pieces of printed or computerized graphic art
Finding a new use for an established product is called?
redefinition
Fundamental analysis
relies on variables such as money supply growth,inflation rates,nominal interest rates,and balance-of-payment positions to predict future changes in exchange rates.
muckrakers
reporters who used a style of early-twentieth-century investigative journalism that emphasized a willingness to crawl around in society's muck to uncover a story.
Foreign Bonds
sold outside of the borrower's country and denominated in the currency of the country in which they are issued
dime novels
sometimes identified as pulp fiction, these cheaply produced and low-priced novels were popular in the United States beginning in the 1860s.
What is the most popular radio format?
spot or FM
Which is more flexible, network or spot radio?
spot radio
What is a rep firm?
spot tv time is sold either by the individual station or by station representative firms, or rep firms. These firms put together packages of stations, known as unwired networks (because they are not physically linked together, or wired) rep firms can usually customize buys, allowing the buyers to pick only those stations in which they are interested in a given number of markets.
Bond
standard type of paper used in copiers and printers
bond
standard type of paper used in copiers and printers
experiment/roll out new ideas
start with small audience, then adjust campaign
Audience Composition
statistical breakdown of a media vehicle's total audience
How to reduce a firm's economic exposure:
strategic choices about the firm's productive assets are distributed around the globe
Experience curve
systematic reductions in production costs that occure over the life of a product -production costs decline each time cumulative output doubles
Almost every household in America has one of these forms of media and 82% have two or more..?
television
Paper weight
the actual weight in pounds of 500 full sheets of paper regardless of the basic size or grade of paper; paper sizes vary based on the type of paper; also known as ream weight
Kerning
the adjustment of space between pairs of letters to improve its appearance or alter its fit
Time Frame
the amount of time given to comlete a document or project
Z pattern
the visual path that draws the eye from the top left to the top right down to the bottom left and then to bottom right
Focal point
the visually dominant elements in a presentation; the center of interest
Frequency
times an individual was possibly exposed to a medium
Perfect binding
to bind pages together with glue to create a book
What are some of the disadvantages of advertising in newspapers?
today or never active readers black and white
Tonnage or Quality: no audience guarantees
tonnage
Tonnage or Quality: pre-empted by other advertisers
tonnage
Tonnage or Quality: weakest stations
tonnage
3 biggest targeting mistakes
too many targets, don't follow through on all targets, too broad a target
frequency formula
total number of exposures/total households exposed
expand existing trade areas/distribution
track purchasers (zip code) and find higher performing areas, advertise there
Barter (Guerrilla Media Buying)
trading goods/services for other goods/services
parchment
treated animal skin that replaced papyrus as an early pre-paper substance on which to document written language.
Trifold
two parrallel folds resulting in three panels on each side of the paper; also known as brochure fold
Symmetrical balance
type of balance that occurs when the weight of a composition is evenly distributed around a central vertical or horizontal axis
symmetrical
type of balance that occurs when the weight of a composition is evenly distributed around a central vertical or horizontal axis
spiral binding
type of binding that secures pages by using metal or plastic combs
saddle stitch
type of binding that staples down the middle of folded pages
newsprint
type of paper that is low quality and inexpensive
Serif
typeface with projections extending off the main strokes of a character
Sans serif
typeface without serifs
3 basic rules of frequency
typically expressed as an average, can be expressed as a distribution, measured over specific periods of time
Balance
use of elements so they counter each other; creates a product that is in harmony
balance
use of elements so they counter each other; creates a product that is in harmony
Process color
use of many colors in a publication (most commonly CMYK)
extend existing purchase cycles
use special times of the year/day as opportunities; try to change behaviors ex. orange juice isn't just for breakfast
desktop publishing
using a computer and software program to produce high quality, printed documents that combine text and graphics
Triadic colors
using three colors that are equal distance apart on the color wheel
OOH contracts
usually on a monthly cycle
newsreels (p. 197)
weekly ten-minute magazine-style compilations of filmed news events from around the world organized in a sequence of short reports; prominent in movie theaters between the 1920's and 1950's.
Target Audience
who we want to receive the campaign's message
Use & Gratification
why people seek out certain media platforms
Buying Internet Advertising
work directly with individual sites, buy directly from service providers, place buys with networks of aggregated sites, search engines, ad exchanges
Connection Plan
works off a communication idea or theme, has content in multiple platforms, uses influence as the measure, and has a multi-channel plan.
accordion
zig zag fold with at least two parallel folds that go in opposite directions
How does CDI and BDI work?
• So basically says "This is what you sell, this is what you could sell" • Together they are Buying Power Indices • They tell the strengths and weaknesses for what they measure • CDI and BDI help determine which markets deserve extra attention • CDI and BDI help determine which markets deserve no attention • If markets produce the same general index, then CDI and BDI can be used to learn more about sales habits
Can you redefine what category your product is in?
• To develop good plans, you need to watch trends • Category trends • Remember you can redefine your category • Brand trends • More difficult, but you can redefine your brand • Market trends
What is an index?
• To point to what you should be doing with a campaign • To point to which audiences you should target • To point to where you should be advertising • CDI and BDI help determine which markets deserve extra attention • CDI and BDI help determine which markets deserve no attention • If markets produce the same general index, then CDI and BDI can be used to learn more about sales habits • Like all indexes, CDI and BDI are rounded to whole numbers • Like all indexes, numbers over 100 are showing above average sales • Like all indexes, numbers under 100 are showing below average sales
Composition
"Make up" of a magazine audience Used to find magazines with the highest concentration of the target
Radio Characteristics
"The everywhere media" 30% of average daily media consumption Local coverage Low cost High frequency Flexible Low production cost Well segmented audiences
Terms and conditions negotiated between buyer and seller include:
# of media units and estimated audience, scheduling, timing, ad positioning with vehicles, value-added and promotional add-ons, reach to be conducted, in store merchandising programs
Rating
# of persons exposed to a given vehicle/time ÷ # of persons in the universe X 100
Reach
# of persons reached ÷ total # of persons in the universe X 100
Pop-ups is:
'Appear' above requested page window
Reach
(# persons reached // # persons in universe) X 100
BDI
(Brand %/ Pop %) X 100
CDI
(Category %/ Pop %) X 100
Exposure States
-Automatic - Attentional -Transported -Self reflexive
Types of Cognitive Processing
-Encoding -Comparison -Translation -Organization
Argument for centralization
-can facilitate coordination -help ensure that decisions are consistent with organizational objectives -concentrating powwer can give top management the means to bring about much needed organizational change -can avoid duplication of activities
Performance Ambiguity
-causes of subunit's poor performance are not clear
Advertising must.. ?
.
Who is at the center of every media plan?
.
Strategic positioning
1 convex curve is an efficiency frontier 2 Convex shape b/c of diminishing returns 3 Strategy, operations, and organization must be consistent to attain competitive advantage and garner superior profitability
How much of the target universe is a rating?
1%
Internet (4 types) is:
1.Channel Churners 2.Matchmakers 3.Digital Destination 4.e-Bazaars
Rich Media Banner Ads is:
2 types- HTML/Proprietary code, often require plug-ins to be downloaded; not always accepted, HIGHEST CLICK-THROUGH RATES
Generally accepted effective frequency
3.0
How many 18-24 year olds read a daily paper?
34%
What percent of prime time commercials are 15 second spots?
36%
Benefits of cinema advertising
3x recall of its advertising compared to tv
According to TiVo, what percent of commercials were skipped in timeshifting?
60%
How many 18-34 year olds visit a newspaper website each week?
65%
videographer
A career involved in the production of video material
website developer
A career that involves designing, creating, and modifying websites
commercial photographer
A career that involves taking pictures of subjects such as people, buildings, or merchandise to be used in a variety of media
What is the definition of a medium?
A class of media used to convey an advertising message (such as magazines)
Additive color
A color that becomes white when all colors have been added
Integrated Commercial
A commercial that features more than one product or service in the form of a single commercial message.
Intranet is:
A company's internal network of information, and communication
multimedia
A computer-based communication process that incorporates text, graphics, sound, animation and video
Advertorial is:
A custom-written blend of advertising, and editorial content
Shape
A design element that includes geometric, natural, or abstract shapes.
Cookie is:
A line of text that is written to a text file, and place on the user's hard drive when visiting a Web Site
Hit
A request for a file; considered a deprecated measure
Media Vehicle
A single part of a medium such as a specific television program, a magazine, or internet site.
Blog
A website or sections of a website, where individuals and organizations post regular entries of their opinions and announcements.
What are the 4 major broadcast networks?
ABC CBS FOX NBC
4 main broadcast networks
ABC, CBS, NBC, FOX Control 97-98% of ad dollars
Spot Buying
Alternative to national/network buying Advertiser picks and chooses specific programs and stations Media sold by independent stations or rep firms
What are some shows known for product placement?
American Idol Survivor Ellen Oprah The Apprentice
Media Habits
Americans are "media-holics" Mass media defines popular culture
Participation
An announcement inside the context of a program, as opposed to sponsorship or to chain or station breaks placed between programs.
Makegood
An announcement or advertisement run as a replacement for one that was scheduled but did not run, or that ran incorrectly.
Adwords
An auction-based advertising program that enables advertisers to place text-based and display ads on Google's Display Network.
People Meter
An electronic device that measures viewership of TV programs.
initial cap
An enlarged letter that is used as the first character of a paragraph; may be dropped or raised
ACV (All Commodity Volume) is:
An industry standard measure of the average percent of product sales volume done by a given store in a given market
Nielsen
An international research giant with services covering virtually every aspect of consumer product marketing.
Impression
An opportunity for one individual to see an advertisement No guarantee for exposure
Unique Visitors
Analogous to reach; estimated number of visitors to a particular site
7 Steps of Situation (SWOT) Analysis
Analysis of Marketing Objectives and Strategies Competitive Considerations Creative History Target Audience Geography Timing & Purchase Cycle Questions about the Media Mix
Media Planning (procedures)
Analysis of the Situation Marketing Strategy/Objectives Creative Strategy Media Objectives Media Strategy
Media Researcher (job description)
Analyzes the relationship between consumers, media, and the companies/brands that advertise to them
White space
Areas on a page with no text or graphics; designed to provide a visual break and to give other elements on the page a greater impact; also known as negative space.
Line
As a design element, lines can be used to divide or unite elements on a page, denote direction of movement, or anchor objects on a page.
Channel Churners is:
Attract attention-build traffic/portal sites such as: Google, Yahoo, Bing, AOL
Problem with Social Media
Audience Metrics - the advertiser has little or no way to quantify the distribution of the message
What is the formula for Brand Development Indexes?
BDI= % of brand sales in area / % of population in the area X 100
What is BOI?
BOI (Brand opportunity index)=a way to dig deeper into BDI/CDI BDI measures brand strength in a market CDI measures brand potential in a market BOI Divide CDI by BDI=BOI p Measures growth area
What are the two good sources for audience measurement of business publication?
BPA Worldwide & ABC (Audit Bereau of Circulation)
Media Plan
Blueprint and rationale for how advertisements will be delivered to the target audience; proves to the client that optimal decisions were made
BDI
Brand Development Index How well a brand's sales are doing in a region relative to other brands
Media Buyer (job description)
Buys media space and time for the message
How can Foreign Exchange Risk be Reduced
By using forward forward exchange rates. By engaging in currency swaps
What is the formula for Category Development Indexes?
CDI= % of category sales in area / % of population in area X 100
CPC, CPM, CPA
CPC: pay for individual clicks CPM: pay for estimated 1,000 views CPA: pay when a user completes desired action
graphic designer
Career that involoves designing or creating graphics to meet specific commercial or promotional needs
desktop publisher
Career that involves designing and creating the graphics that accompanies text as well as page layouts
CDI
Category Development Index How well a category's sales are doing in a geographic area
Subtractive color
Color that becomes white when all colors have been removed or subtracted, CMYK colors are all subtractive colors
Convergence is:
Combing of disparate technologies or media, and related industries into new (and sometimes competitie) products, and services
Factors affecting frequency
Complexity Uniqueness New vs. Continuing Image vs. Product Variation of message Wearout
Moore's Law is:
Computing power doubles every eighteen months (Pentium 1/Single Core/Double Core)
Ostrow's Approach
Considers a brands situation based on three strategic factors Marketing Copy Media Assumes 3.0 benchmark effective frequency and adds/subtracts based on strategic factors
Scarborough
Consumer shopping insights
V-P
Consumer surplus
Scheduling types
Continuity Flighting Pulsing
Pulsing Scheduling
Continuous with varying amounts spent at different times
shareware
Copyrighted software that is available free of charge on a trial basis
Production
Creation of a good or service -create value by performing efficiently (lower c) -performing so that higher quality is achieved (raise v)
Trends in newspaper readership between daily, suburban, and college papers.
Daily are declining, but suburban and college are growing
Media Strategy (definition)
Decisions on how to attain the media objectives
Interactivity
Defining characteristics of Internet advertising that permits user engagement and user control of the communication process Facilitates decision making and influences behavior
SWOT-Situation Analysis Section
Descriptive/factual section that defines the situation that the client is currently in No recommendations, objectives, or strategies Includes 7 steps
Static Banner Ads is:
Easy to produce, stale and boring, CLICK-THROUGH RATE IS NOT TERRIBLY HIGH
Refreezing
Either a new culture is established while the old on is dismantled or take a long time to refreeze
Broadcast Media
Either radio, television (network or local)
Target Rating Points (TRPs)
Equivalent of GRPs Often used with a specific demographic while GRPs are used for households
Major Syndicated Research Companies
Experian Simmons MRI - MediaMark Research and Intelligence The Nielsen Company Arbitron Scarborough VALS Yankelovich
Animated Banner Ads is:
Eye-catching, easy and inexpensive to produce, flip-book style movement, HIGHER CLICK-THROUGH THAN STATIC
T/F: Because almost every business needs advertising, media is one of the "least bartered" categories
False. "most bartered"
T/F: The lowest CPM is always the most effective buy
False. Not always true.
High Involvement Feeling (FCB Grid)
Feel - Learn - Do Sports Car
Advantages of Spot Buying
Flexibility 2 weeks to 2 month advance purchase Can be bought for specific flight periods or continuously till cancelled
Gatefold
Folding the sides in toward the middle of a page.
Syndicated Research
Form of external, secondary data provided by a common database for a service fee
Matchmaker is:
Generate Interest-Formal Leads(sales call)-Informal Leads(AIDA) best examples: Mortgage Locators, IThink
Types of Allocation
Geographic Payout Planning
Media Objectives (definition)
Goals to be obtained by the media strategy and program
Budget Setting Methods
Haphazard Subjective Percent of Sales Competitive Spending Objective
Executive Summary
Highlight of the plan
HUT
Households using TV in a given period relative to the universe
Three steps to choosing a target market
Identify alternatives Evaluate alternatives Rationalize
The Law of One Price
In a competitive market that is free of transportation costs and trade barriers, identical products in different countries must sell at the same price.
Junior Page
In print, a page size that permits an advertiser to use the same printing materials for small - and large - page publications.
Circulation
In print, the number of copies of a vehicle distributed, based on an average of a number of issues. In broadcast, the number of television or radio households that tune in to a station a minimum number of times within a specified time period. In outdoor, the total number of people who have an opportunity to see a given showing of billboards within a specified time.
"Gotchas" that destroy SWOT Credibility
Inadequate research Excessive/singular use of secondary research Failure to cite sources Poor organization Use of "fluff-heads" that say nothing Lazy writing Late work
Problems in media
Increased clutter; finding ways to break through clutter Increased number of outlets Fragmenting audience Increasing complexity and importance of the media planning task
Microsite is:
Interactive miniature websites created specifically to be part of a marketers integrated message campaign
Popular Web Browsers
Internet Explorer, Safari, Firefox
e-publishing
Internet-based publishing houses that design and distribute books for comparatively low prices for authors who want to self-publish a title.
Impact of the DVR
It has pushed programmers into more live action programs, advertisers to integrate product placement more into a show, less soap operas and dramas. While people skip commercials using a DVR, other studies indicate that the DVR actually increases program viewing.
What is the mobile marketing dilemma?
It is more difficult to sell ads in this form.
TV Characteristics
Largest mass media available Divided by daypart and format High local Reach High impact Low cost per exposure Favorable image
High Involvement Thinking (FCB Grid)
Learn - Feel - Do Family Car
Disadvantages of TV
Low selectivity Short message life High production costs Clutter
Pop-unders is:
Lurk beneath the requesting page, and are often not seen until you close browser
Consistency
Maintaining the same layout and style throughout the publication; i.e. fonts, colors, spacing, graphic elements, etc.
Need-directed consumers
Make purchases based on needs
Inner-directed consumers
Make purchases based on some inner need
Outer-directed consumers
Make purchases based on their perception on how others view them
Cross Platform Buying (Guerrilla Media Buying)
Many media conglomerates own a variety of media and communications assets (time warner, disney)
Business of Media Dependability
Measurability
Post-Buy Analysis
Measurement of the effectiveness of advertising at the conclusion of the media buy.
Uses of Syndicated Research
Media Exposure Media Profiling Target audience Profiling Consumer trend analysis
Fragmentation
More audiences, Smaller audiences
Clutter
More media channels More messages in each channel
How to use market level cpp to cost out a schedule
Multiply the schedule by cpp. For example, if you were to cost out a 600 grps schedule for Booya market which has a cpp of $10, the schedule would cost $6,000. ( 600 x 10=6,000).
What is Nashville's DMA?
Nashville is 29
Radio Types
Network Spot Satellite Streaming
4 main types of TV
Network Syndication Spot Cable
Circulation
Number of copies distributed by a publication
Page views
Number of times a page is delivered completely to a browser
(000)
Numbers in thousands
Effective Reach
Only column of the frequency distribution (3-10). To calculate add up every "x" value from 3-10.
Exposure
Open eyes facing a medium.
Objectives of media vehicle selection
Optimize repetition (frequency) Minimize cost Minimize waste Within budget and time period
Types of Syndication
Original Shows (first run) Off-network Fare (re-runs)
Characteristics of a properly written objective
Output-oriented Measurable Time bounded Realistic Achievable, but not too easy Cost-effective Single purpose
In-store media's importance
Over 50% of purchase decisions are made at the point of sale
PUT
Persons using TV in a given period relative to the universe
Ad exchanges (buying internet advertising)
Platform where publishers, advertisers, and ad networks can buy and sell ad space using realtime bidding
Calculating an audience impression from a rating
Population / Rating
Search Engine Optimization (SEO)
Process of maximizing number of visitors to a site by ensuring the site remains high on the list of results in search engines via the organic search results (free traffic)
Why do foreign investors invest in other countries equity Markets?
Reduce risk by diversifying their stock holdings among nations
Frequency of Reading Technique
Select magazine logos you've read in last 4 issues
Media Seller (job description)
Sells media space and time to the buyer/advertiser
Media Planning (definition)
Series of decisions involving the delivery of messages to audiences
SOV
Share of Voice; a brand's percentage of total advertising dollars spent within a specific category
Timing
Short-term individual continuity tactic whereby media vehicles are selected to deliver advertising or promotion as close as possible to the occurrence of the target audience individual's category need or to the point of decision.
Multimedia Messaging Service (MMS)
Similar to SMS, but includes photos, sound clips and/or video.
Currency Swap
Simultaneous purchase and sale of a given amount of foreign exchange for two different value dates
Methods to Stretch Budget
Spend less Alternative vehicles Alternative media Shorter ads (:15 as opposed to :30) Reduce space, black and white vs. color Use alternative formats
Biggest Radio Type (by ad dollars spent)
Spot (96% of radio ad dollars)
Methods of Media Measurement
Surveys Neilsen People Meter Other market projections
Usage Statistics
Syndicated web research services also provide various measures of usage such as time spent per day/month and average number of page visits
Nielsen
TV and Cable Standard for ratings
Which months does long-term tv buying fall?
TV season (Sept-May)
Paper weight
The actual weight in pounds of 500 full sheets of paper regardless of the basic size or grade of paper, paper sizes vary based on the type of paper ,also known as ream weight
Time frame
The amount of time given to complete a document or project.
Layout
The arrangement of all key parts of a publication without including specific content.
E-commerce
The buying and selling of products and services over the Internet.
Cost per Thousand (CPM)
The cost to deliver to 1,000 people or homes.
Media Unit
The creative unit that you may schedule such as a banner ad, 30 second commercial or full page ad.
Spot Exchange
The exchange rate at which a dealer converts one currency to another on a particular day
Closing Date
The final date to commit contractually for the purchase of advertising space.
Quintile 1
The highest level of consumption for different media. To be significant it has to be above 120 or below 80 (quintile 5)
Binding
The joining of pages with either wire, glue, or other means.
Value
The measure of lightness and darkness in color.
Effective Reach
The percent of the target audience exposed at the frequency level that is effective in the planner's judgement.
Mass
The physical or visual size of a publication or an object in the publication.
Texture
The surface quality of shape; i.e. rough, smooth, soft, hard, glossy, etc. can be physical (tactile) or visual
Individual Continuity
The time- distribution of exposures, over successive advertising cycles in the planning period, for the typical target audience individual.
Gross Impressions
The total number of opportunities to see provided by a given campaign or plan Sum of the impressions across the multitude of advertisements in a campaign/plan Often abbreviated GI or GIMP
Addressable ads by Comcast
They allow the advertiser to send different ads to different households at the same time.
What is the consumer decision process?
Three steps: 1) Think 2) Feel 3) Do The process can be broken down even further 1) Need 2) Awareness 3) Preference 4) Search 5) Selection 6) Purchase 7) Use 8) Satisfaction
Which Media Buying Philosophy involves lowest demand inventory?
Tonnage
2 Media Buying Philosophies
Tonnage (Lowest Demand Inventory) and Quality (High Demand Inventory)
Targeting (criteria)
Tractability Reachability Profitability
T/F: In negotiating TV cost you should use your leverage to try to drive package cost down or exercise plan B/C/etc
True
Tri-fold
Two parallel folds resulting in three panels on each side of the paper; also known as brochure fold.
Symmetrical balance
Type of balance that occurs when the weight of a composition is evenly distributed around a central vertical or horizontal axis.
The Optimizer
UK Development Programs providing alternative media plans Proprietary Varying degrees of success and predicatability
Cost Reductions Pressure
Universal needs: exist when tastes and preference are the same or similar
Media Remnants (Guerrilla Media Buying)
Unsold advertising inventory
Balance
Use of elements so they counter each other; creates a product that is in harmony
Gross Rating Points (GRPs)
Used as a currency and descriptor of media weight
digital media
Using technology to convey information
VALS
Values Attitudes Lifestyle Systems
Experian Simmons
Voice of the American consumer
Non-Interactive is:
When a message is not related to previous messages
Reactive is:
When a message is related only to one immediately previous message
Interactive is:
When a message is related to a number of previous messages, and to the relationship between them
Market Intelligence
Where and how people buy Competitor's share of market Category brand and sales trends
Earned Media
Where you rely on consumers to spread the word. Many social media campaigns as well as public relations rely on earned media. Ex: social media, and guerilla campaigns
Search Engine Optimization is:
Words or phrases that describe subject matter of a site or web page, key word matching, payment for keyword placement
documentary (p. 202)
a movie or TV news genre that documents reality by recording actual characters and settings.
trademark
a name, symbol, or other device identifying a product; it is officialy registered with the U.S. government and its use is legally restricted to its owner
Style
a named group of character and paragraph format that can be applied to text
Ream
a package of 500 sheets of paper
Pull quote
a small amount of text taken from an article that is enlarged and often set off with rules, white space and quotation marks
Business card
a small publication (3.5 x 2 inches) containing information such as name, title, business, address, phone numbers, logo
Thumbnail sketch
a small sketch that shows only the large elements of the page
Color scheme
an arrangement of colors designed to create a specific response
Media
collective noun (plural)
DEC
daily effective circulation (raw #) (how many people we expect to see an OOH ad everyday)
Is print media revenue increasing or decreasing?
decreasing
Network T.V. programs
delivers a program with national commercial breaks that are the same in every market.
3 basic types of targeting practices
demographic, psychographic, behavioral
half fold
dividing the page in half; booklet fold
Does bartering include or exclude cash transaction?
exclude
Interest rates reflect__________about inflation.
expectations
O & T
external issues - culture, technology, competition, economy, politics
the most common approach to exchange rate forecasting is____________.
fundamental analysis
Self reflexive
hyper aware of message & self, critical
KPI
key performance indicator
Any discounts for media remnants?
large
Tonnage includes:
lowest priced dayparts, lowest ratings, unmeasured audiences, overnight/late late night, run of schedule, untargeted programming, weakest stations, gratuitous sex/violence, last minute/distress, pre-empted by other advertisers, no audience guarantees, no promotion/merchandising
Audience
number or % exposed to a vehicle
Organizational inertia
organizations are difficult to change SOURCE OF CHANGE DIFFICULTY -existing distribution of power -Existing culture -senior manager's preconceptions about an appropriate business model -institutional constraints, national regulations about local content
Tonnage or Quality: fixed schedules
quality
Purpose of Guerrilla media buying?
reduce out of pocket media costs and raise share of voice without additional expenditures
Color theory
relationship between colors often based on their location on a color wheel
Radio has established itself as a ____ medium
retail
thumbnail sketch
shows only the large elements of the page
direct offensive
strategically place ads in places that will reduce competitor's visitors
In broadcast media buying, what has a significant impact on media prices and costs paid by the advertiser?
supply and demand
Types of TV
syndication, spot TV, major broadcast networks, satellite/cable TV, DVR/VOD
TRPs
targeted rating points
Layout
the arrangement of all key parts of a publication without including specific content
Byline
the credit line for the author of an article
Identify the dayparts in television programming?
the daypart refers to the time of day the program airs. There are 9 standard day parts
Contrast
the differences in values, colors, textures, shapes, and other elements within a presentation
space
the distance or area between or around things
Space
the distance or area between or around things; separates or unifies; highlights, and gives the eye a visual rest
Which ads receive the most attention in a pod?
the first ad will receive the most attention, followed by the last one
Leading
the space between lines of text
What are the benefits of advertising in the newspaper?
timeliness desirable audience impact of editorial local and regional possibilities
The failure of PPP theory t predict accurate exchange rates may be due to
transportation costs, barriers to trade and investment,impact of psychological factors (bandwagon effect and short-run exchange rates).
trifold
two parallel folds resulting in three panels on each side; also known as brochure fold
Buying time on TV...long-term buying market
upfront market
Print Media
use Circulation • Number of copies sold or distributed Newer media are beginning to establish standard units of credit
Broadcast Media
use Rating Points • % of Target Audience reached by a media vehicle
V
value of product to average customer
flow
visual path created by the arrangements of elements
z-pattern
visual path that draws the eye from top left to top right down to bottom left and then to bottom right
focal point
visually dominant elements in a presentation; the center of interest
Exposure
when a person "consumes" an ad - rarely measured
What is a product category?
• Brand=the image/idea of the product/service/company you are trying to sell • Product category=a general category that the brand fits into (such as soup)
What does BDI measure?
• Compare sales of a product brand with the potential sales for that brand • Measures the number of cases, units or dollar volume of a brand sold per 1,000 population
What are the key generations that we focus on?
• Gen X (1965-1985) • Gen Y (1986-2001) • Gen Z (2002-)
Profitability
-Can be measured in a number of ways, but defined as the rate of return on its invested capital (ROIC)
Vertical Differentiations=
-Centralized or decentralized -determines where decision making power is centralized
Turnkey Project
-Contractor agrees to handle every detail of the project for a foreign client -common in chemical, pharmaceutical, and petroleum
Global Matrix Structure
-Cope with demands of Transnational Strategy 1 Headquarters 2 [not a tier set up] organized by area # and corresponding product division
Alliance Structure
-Difficult to transfer technology not meant to be transferred -contractual safeguards against opportunism of partner -allow for skills and technology swaps with equitable gains -minimize risk of opportunism by alliance partner
Formal Integration Methods
-Direct Contact -Liaison Roles Teams -Matrix Structure
Worldwide product Divisional Structure
-Firms that are reasonably diversified and originally had a domestic structure based on product division 1 headquarters 2 Worldwide Product Group of Division # 3 Area 1 & 2 for that # 4 functional units
Worldwide Area Structure
-Firms with a low degree of diversification and a domestic structure based on functions 1 headquarters 2 each individual country does its business
Informal Integrating Mechanisms
-Knowledge network - transmit info within an organization that is based not on informal contacts between managers within an enterprise and on distributed info systems
Profit growth
-Percent increase in net profit over time
Human Resources (Support activity)
company has right mix of skilled people to perform its value creation activities efficiently - people are well trained, motivated, and compensated
Operations
different value creation activities a firm undertakes
International Strategy
first produces for domestic market and then selling products internationally with minimal customization -low pressure for cost reduction -low pressure for local responsiveness
Localization Strategy
increase profitability by customizing firm's goods so that they provide a good match for the taste and preferences in different national markets -low pressure for cost reductions -high pressure for local responsiveness
Headline
large type running above or beside a story to summarize its content; also called a "head" for short
Favorable markets
politically stable, have a free-market system, low inflation rates, and low private sector debt
Italics
printed in or using characters that slope to the right
Continuation line
restates the original headline to simplify the process of finding an article that has been continued from a previous page
Franchising
specialized form of licensing which a franchiser sells intangible property but also agrees that the compny abide by strict rules ADVANTAGES -low cost low risk DISADVANTAGES -lack of control over quality -inability to engage in global strategic coordination
Letterhead
the area on a sheet of stationery where the name, address and other information is printed
Gutter
the interior space between margins of two facing pages; sometimes used to describe the space between columns
processes
the manner in which decisions are made and work is performed within the organization - formulating strategy, allocating new resources, new-product ideas, customer inquiries and complaints, improving quality
Organizational Culture
the norms and value systems that employees of an organization share
Bleed
the practice of placing an image or color so that it extends to the edge of the page
Nameplate
the section on a newsletter that contains the publication name, date, volume number and logo; generally located at the top of the opening page
Unfreeze the organization
those who's power is threatened can too easily resist incremental change. Possibility of closing plants, make company ready for change
Logistics (support activity)
transmission of physical products through the value chain - procurement> production> distribution -help reduce c by raising v -relatinship with information systems is important
Jumpline
type that tells the reader that a story is continued from another page
Online Auctions & Bidding (Guerrilla Media Buying)
# of websites have online auctions to sell time and space, remnants, or potential remnants
SOV
(brand medium $/ category medium $)
Media
(plural medium) The various categories of delivery systems including broadcast and print media
letter
(standard American paper size) 8.5 X 11
legal
(standard American paper size) 8.5 X 14 inches
What is one key issue with asking people about their own actions with and recall of products?
- Inaccuracies in the responses. - Their answers are what they claim to recall. - They might not tell you how they really feel in fear of offending.
What is the advice for when you should buy nationally for each medium?
- TV guideline=when the brand is available in 2/3 (66%) of the states in the US., buy national - Cable=if you are in the top 5 media markets, buy national (cable isn't most effective for local) - Radio/Magazine=usually buy national if you are at 33% of the states in the US.
Post Bretton Woods era
- The IMF has continued to play an important role in helping countries navigate their way through a fiscal crisis lend significant capital to embattled governments by requiring them to adopt certain macroeconomic policies
Structure of Domestic Firms
- Top Management -Purchasing, Manufacturing, Marketing, Finance -Buying Units, Plants, Branch Sales Units, Accounting Units
Fixed Exchanged rate systm
-Collapsed in 1973 due to speculative pressure on the dollar following a ride in US inflation and a growing US balance of trade deficit
ROIC
-Net profits of the firm divided by total invested capital
Situation Analysis
-S.W.O.T -4 P's -competitive analysis
optical center
slightly to the right of and above the actual center of a page
In today's monetary system...
-Some countries have adopted floated exchange rates -Some peg their currency to another currency (dollar) -Some currencies are pegged to a basket allowing their currency to fluctuate within a zone around the basket
Horizontal Differentiation
-The design of Structure
Global Bond market has two classifications:
-The foreign market:sold outside the country of origin and are denominated in the currency of the country issued to -Eurobond: underwritten by an international syndicate of banks and placedin countries other than the one who's currency the bond is denominated (lion's share of international bonds)
After 1973
-World has operated on a float exchange rate regime -Exchange rates have become more volatile and far less predictable -Volatile exchange rate movements have helped reopen the debate over merits of a fixed and floating system
Eurocurrency
-any currency backed outside of its country of origin -lack of government regulations make this attractive to depositors and borrowers -the spread between the eurocurrency deposit and lending rate is less than the spread of between domestic deposit and lending rates
Advertising Weight
A general term for the amount of advertising planned for or used by a brand. Although it is not limited to a particular measurement, it is most frequently stated in terms of the number of GRPs or the number of broadcasts or insertions placed over a period of time.
Card stock
A heavy weight paper; typically used for business cards, greeting cards, post cards, etc.
Saturation
A level of advertising weight several times above normal reach and frequency levels standard for the market or product involved. It implies simultaneous achievement of high reach and frequency designed to achieve maximum impact.
Table of contents
A listing of the major entries in a publication
Media Plan
A media plan works off of an advertising idea, schedules advertising units, uses reach as its measure and has a plan with multi-media
Accumulation
A method of counting audiences wherein each person exposed to a vehicle is counted once, either in a given time period such as four weeks for broadcast, or in one issue for print.
Continuity
A method of scheduling advertising at regular intervals over the year.
Style
A named group of character and paragraph format that can be applied to text
Ream
A package of 500 sheets of paper.
Vehicle
A particular component of a media class, such as a particular magazine or broadcast program.
Hiatus
A period of time during which there is no advertising activity.
photographer
A person who takes photograph, either as a hobby or a profession
Grid Card
A rate card in which a broadcast station's spots are priced individually, with charges related to the audience delivered.
How do outdoor companies calculate reach and frequency?
A showing, which is the percent of the target that sees your billboards everyday. Showing X 28 day month=total rating points
Registration is:
A simple means for a site to discover who visits a site, and how often they return, means of surveying visitors, and getting to 'know' them more throughly
Thumbnail sketch
A small sketch that shows only the large elements on the page.
Radian6
A social-media-monitoring company that provides business with a platform to listen to what consumers are saying about them across the Internet, as well as engage with them.
A social-networking site focused on the business and professional community.
Texture
A special formatting style creates an illusion of actual textures such as wood, metal, objects in nature,etc.
PPP
E = P1/P2 basket of goods divided by basket of gods
Observing people in a store or at their homes is a form of?
Ethnography
Brand Contact Points
Every possible point of contact between a brand and its consumers - everywhere/time the consumer encounters the brand
Clutter
Excessive amounts of advertising or nonprogram editorial material carried by media vehicles, both print and broadcast.
Forward Exchange Rate
Exchange rate is an exchange rate governing future transactions
Media Plan Breakdown
Executive Summary SWOT-Situation Analysis Creative Brief-Creative Strategy Media Objectives and Strategies Appendix
Ultimate goal of the media planner
Extend media coverage to as many members of the target audience as possible while minimizing the amount of wasted coverage
Which government agency does regulate the Wireless Technology, TV, and Radio Transmissions
FCC (Federal Communication Commission)
What are the databases we've studied, how do they work, so far and what information do they provide?
MRI • We used this in the library • Standard for brand media planning - More than 500 categories and 6000 brands - Great for determining magazine readership • Analyzes approximately 235 magazine titles - Sample size • Approximately 26,000 adults (18 +) • Surveys conducted 2x a year • There are additional components Simmons Market Research Bureau • Conducts surveys/custom research - Usually "national" surveys such as • National Consumer Survey of adults • National Kids Survey • National Hispanic Survey • National Teen Survey - Random selection of people surveyed - Now part of Experian Marketing Services PRIZM by Claritas • Zip Code segmentation - Matches where people live with lifestyles • http://www.claritas.com/MyBestSegments/ Default.jsp • Some free/some paid access • SPECTRA and NPD do similar Scarborough Research • Local media markets - 75 U.S. Markets - Some free reports available - http://scarborough.com/reports/products/mar ket-hightlights.html • Media Audit is similar, but not as much detail regarding some points
Media Plan (elements)
Media Objectives Competitive Analysis Target Audience Analysis/Recommendation Target audience Media Habits Recommended media selection and rationale Media Strategy Flowchart Budget Expected reach and frequency
Coverage
Medium's geographical potential. In newspapers, it is the number of copies of a paper divided by the number of households in a given area. In magazines, it is the percentage of a given demographic market reached by a magazine. In radio and TV, it is the percentage of television households that can tune into a station because they are in the signal area.
Gold Standard
Monetary standard that pegs currencies to gold and guarantees convertibility to gold. It was thought that the gold standard contained an automatic mechanism that contributed to the achievement of a balance-of-payments equilibrium. broke down in the 1930s
Staggered Schedule (Plan Escalonado)
Several advertisements scheduled in two or more publications, arranged so as to alternate or rotate the dates of insertion.
Social Media's impact on advertising executions
Since more people are willing to engage a brand if they have a spokesperson or mascot, brands are bringing back old brand mascots to use in their social media campaigns.
Media Conglomerates
Small number of corporations that own most of the US media Time Warner, Disney, Comcast, News Corp
freeware
Software that is provided without charge
Owned Media
Something that the advertiser controls. It can be paid or not. An example would be a brand's website, Facebook page, twitter feed or a solely sponsored television program.
Reverse type
Special formatting style that uses light-colored text on a dark background
Media Language
Specific set of terms media planners use to measure audiences and compare media
Bond
Standard type of paper used in copiers and printers.
Independent TV Stations
Stations not affiliated with networks
SWOT Analysis
Strength/Weakness/Opportunity/Threat Essentially a situation analysis
Gross Impressions
The duplicate sum of audiences of all vehicles used in a media plan. This number represents the message weight of a media plan.
Impression (internet term)
The delivery of an advertisement to a browser; an opportunity to see
Contrast
The differences in values, colors, textures, shapes, and other elements within a presentation.
Space
The distance or area between or around things separates or unifies, highlight, and gives the eye a visual rest
Small caps
smaller uppercase letters that are about the same height as lowercase letters.
Milestones of the Online world
The online advertising world began in 1995. It had a crash in 2002. It began to pick up steam in 2006 when broadband penetration hit 50%. Then the social media craze of 2008 hit.
Optical center
The optical center is slightly to the right of and above the actual center of a page.
Share of Mind
The percentage of relevant population (or sample of that population) who indicate awareness of or preference for the various brands within a product group.
Penetration
The percentage of total home or people in a specified area who are physically able to be exposed to a medium or who purchase a given product or service.
Prime Time
The period of peak television set usage - between 8 and 11 pm in the eastern and pacific time zones and between 7 and 10 pm in the central and mountain time zones. On Sundays, it begins an hour earlier.
Alignment
The placement of text or graphics on a line right, left, center, or justified
Scatter Plan
The placing of announcements in a number of different network TV programs.
What is the role of the media buyer?
The plan is then implemented by the media buyer who negotiates with the media providers themselves to agree on the space and time needed and to determine or confirm where the ad will appear.
Product Placement is:
The process of integrating an advertiser's product clearly, and visibly into an entertainment property like a motion picture or TV show.
Search-engine Optimization (SEO)
The process of organizing and writing a website to maximize the likelihood that Google's organic or natural search will present the site near the top of the list, resulting in more traffic to the advertiser's website.
Brand Development Index (BMI)
The ratio of a brand's US sales in a market divided by the market's percent of US population X 100
Index
The ratio of a percentage to a base as a way to show what is above average, average, or below average.
Gross Rating Point
The simple addition of the ratings from all of the media in a campaign.
Typography
The study of all elements of type as a means of visual communication;includes the shape, size, and spacing of characters.
Social Media
Wireless conversation that fosters communication and sharing between human beings compared to traditional media that delivers content at the expense of conversation Still a growing medium; considered part of the "wild west"
Average Frequency (math convention)
Written to one decimal place
Reach and Rating (math convention)
Written to one decimal place, no percentage sign Cable ratings are the exception
Can you add impressions across markets?
Yes because it accounts for the population difference in a market.
Does SEM have the greatest share of the online market?
Yes; 2/3 of all spending is on search. An advertiser is charged only when the user clicks on the ad. This is the only medium that uses impressions as the currency instead of action.
Can all media have more than one rating depending on the audience you are measuring?
Yes; the rating for the 6 am news on television or radio is different for 18-34 year olds compared to 55+.
change in spot exchange
[(S1-S2)/S2] x 100= i1-i2
Critiques of the IMF
_Mandated macroeconomic policies _IMF imposes inappropriate conditions on developing nations that are recipients of loans
Brochure
a booklet or pamphlet that contains descriptive information or advertising
Additive color
a color that becomes white when all colors have been added; RGB is an example
magalogs
a combination of a glossy magazine and retail catalogue that is often used to market goods or services to customers or employees.
line
a design element that can be used to divide or unite elements on a page; denotes direction of movement; anchors objects on a page
Shape
a design element that includes geometric, natural, or abstract shapes
e-book
a digital book read on a computer or electronic reading device.
Shadow
a formatting style that adds depth to text or other object,asking the same height as lowercase.
A Country's inflation Rate seems to be
a function of the growth in its money supply
Target audience
a specific group of people for which you design your documents; can be categorized by age, gender, income
Tabloid
a standard American paper size that is 11 x 17 inches; sometimes referred to as ledger paper
Letter
a standard American paper size that is 8.5 x 11
Legal
a standard American paper size that is 8.5 x 14 inches
inverted-pyramid style
a style of journalism in which news reports begin with the most dramatic or newsworthy information- answering who, what, where, and when (and less frequently why or how) questions at the top of the story and then trail off with less significant details.
Text wrap
a technique that allows text to flow around a graphic image
pulp fiction
a term used to describe many late-nineteenth-century popular paperbacks and dime novels, which were constructed of cheap machine-made pulp material.
celluloid (p. 190)
a transparent and pliable film that can hold a coating of chemicals sensitive to light.
Spiral binding
a type of binding that secures pages by using metal combs or plastic combs that fit ont holes punched along the edge of the pages; allows the publication to lay flat when opened
Saddle stitch
a type of binding that staples down the middle of folded pages; frequently used to assemble booklets
Newsprint
a type of paper that is low quality and inexpensive
Point
a unit of measurement used ton describes the size of text;one point=1/72 of an inch
Column
a vertical section of text
Widow/orphan
a very short line of text(single sentence or phrase) that appears alone at the end of beginning of a paragraph or column.
Accordian fold
a zig zag fold with at least two parallel folds that go in opposite directions; also known as zig zag
cumes
accumulated ratings (Who stayed? How long?) (video camera)
3 basic rules of reach
accumulates over time, increases at a decreasing rate, measured over specific periods of time
The PPP theory of exchange rate yields
accurate predictions of long term trends in exchange rates, but not of short term movements
insertion
ad is placed, doesn't necessarily hit target
Tracking
adjusting the spacing between words, phrases, and extended blocks of text
Line
as a design element, lines can be used to divide or unite elements on a page, denote direction of movement, or anchor objects on a page
Organization
after response is organized, action is taken
forward exchange
agreeing to exchange currency and execute a deal at some point in the future
Creative Brief
aka Copy Platform Basic issue or problem the advertising must address Advertising
Gross
all impressions - inc potential duplications
Gross Rating Pts (GRP)
all possible impressions (ratings) summed up
Monochromatic colors
all the hues (tints and shades) of a single color
Hue
all tints and shades of a color; red, orange, and blue are all hues
What does effective frequency mean?
along with knowing how many people will have the opportunity to hear or see your ad you also need to state how many times they need to do so in order for the message to have some effect
partisan press (p. 223)
an early dominant style of American journalism distinguished by opinion newspapers, which generally argued one political point of view or pushed the plan of the particular party that subsidized the paper.
studio system (p. 193)
an early film production system that constituted a sort of assembly-line process for moviemaking; major film studios controlled not only actors but also directors, editors, writers, and other employees, all of whom worked under exclusive contracts.
kinetoscope (p. 190)
an early film projection system that served as a kind of peep show in which viewers looked through a hole and saw images moving on a tiny plate.
paywall
an online portal that chargers consumers a fee for access to news content.
What is spot television?
another way to purchase television time. instead of contracting with the network to distribute a commercial to all of that network's affiliate stations across the country, and advertiser can pick and choose which programs and stations to use, placing the message in various "spots" across the country.
support vertical markets
appeals to different demographic targets within the same brand ex. Nike for soccer, basketball, runners
White space
areas on a page with no text or graphics; designed to provide a visual break and to give other elements on the page a greater impact; also known as negative space
layout
arrangement of all key parts of a publication without including specific content
indies (p. 204)
independent music and film production houses that work outside industry oligopolies; they often produce less mainstream music and film.
What are the two basic needs the media helps fulfill?
informing and entertaining
In countries where inflation is expected to be high
interest rates are also high.
S & W
internal issues -- finances, management, brand awareness, emotional connection
What are the disadvantages of advertising on the internet?
irritation confusion non-standard metrics
Target Rich
is based on composition of the audience.
Target Reach
is based on rating or coverage. Based on absolute ratings
Composition
is the percent of your target that watches/listens/reads/interacts with the media vehicle.
Why do people watch television programs on the internet?
its mainly to catch up on missed episodes or prior seasons, or to take advantage of the convenience of the "anytime, anywhere" viewing
Are there more or less negotiation options available today?
less mergers
Expanding the Market
leveraging products and compentacies -take domestic product offerings and sell them in international markets -core competence -transfer of core competencies to foreign markets where competitors lacked them
Is local or network radio more important in radio buys?
local
What are the drawbacks of advertising in magazines?
long planning cycle reaching readers
Transported
lose sense of self in message
consistency
maintaining the same layout and style throughout the publication
Consistency
maintaining the same layout and style throughout the publication; i.e. fonts, colors, spacing, graphic elements, etc.
Nonconvertability
makes it difficult to engage international trade and investment one way to cope with this is to engage in countertrade(trade goods and services for other goods and services)
Mock layout
rough draft of the finished publication that shows the major elements of the publication
mock layout
rought draft of the finished publication; shows the major elements of the publication
Buying time on TV...short-term buying market
scatter market
editorial calendars
schedule of topics magazine will cover
SEM
search engine marketing (paid)
SEO
search engine optimization (unpaid) (natural results)
Buying Print Media historically
select publication, issue contracts and insertion orders based on rate cards
zines
self-published magazines produced on personal computer programs or on the Internet.
What are the disadvantages of outdoor billboard advertising?
short exposure time criticism from environmentalists
currency speculation
short term movement of funds from one currency to another. hope to profit from shift in exchange rates
Supply and Demand (broadcast media buying)
significant impact on media prices and costs paid by the advertiser
Vehicle
single carrier (e.g. Lost, or Esquire, or a particular Pop-up)
What are the benefits of advertising in outdoor billboards?
size mobility effective reach cost
CMYK (Cyan, Magenta, Yellow, Black)
the four ink colors used to create most process color printing
x-height
the height of lowercase letters,specially the lowercase,not including ascenders and descenders.
Saturation
the intensity of a color; how close it is to a pure hue
Binding
the joing of pages with either wire, glue or other means
binding
the joining of pages with either wire, glue, or other means
Value
the measure of lightness and darkness in color
Optical center
the optical center is slightly to the right of and above the actual center of a page
copy editors
the people in magazine, newspaper, and book publishing who attend to specific problems in writing such as style, content, and length.
Mass
the physical or visual size of a publication or an object in the publication
Alignment
the placement of text or graphics on a line (right, left, center, or justified
newshole
the space left over in a newspaper for news content after all the ads are placed.
Texture
the surface quality of a shape; ie. rough, smooth, soft, hard, glossy, etc
Asymmetrical balance
the type of balance when both sides of the central axis are not identical, yet appear to have the same visual weight
blockbuster (p. 196)
the type of big-budget special effects film that typically have summer or holiday release dates, heavy promotion, and lucrative merchandising tie-ins.
photojournalism
the use of photos to document events and people's lives.
Repetition
the use of the same visual effects of a number of times in the same project; the consistent repetition of graphic elements works to create visual unity
Flow
the visual path created by the arrangements of elements
Strategy
-Actions that managers take to attain the goals of the firm -Max the value of the firm for owners and shareholders
Strategy Centralization
-Typically centralized: decisions involving overall firm strategy, major fiscal expenditures, fiscal objectives, legal issues -typically decentralized: operating decisions, production, marketing R&D, human resources
Value Creation
-Value increases profit -measured by difference in cost of production and consumer perceived value -consumer surplus (price is lower than perceived value) -high profits when it creates more value at a lower cost -differentiation stratagy -low cost strategy
Basic entry decisions
-Which markets to enter -When to enter and on what scale -Which entry mode to use
First mover advantages
-ability to preempt rivals -capture demand by establishing a strong brand name -build sales volume in that country -ride down experience curve ahead of competitors -cost advantage -create switching costs that tie customers to your product
Learning Effects
-cost savings by learning by doing -most significant when task is technologically complex
Attractiveness of a Strategic Alliance
-facilitate entry into foreign market -firms ahre fixed costs and risks -bring complementary skills and assets together that neither partner could develop on its own -establish technology standards that help the firm
Organizational Structure
-formal division of organization into subunits such as: product divisions, national operations, and functions -location of decision making ( centralized or decentralized) - establishment of integrated mechanisms to coordinate the activities of subunits, including cross-functions, team, or pan-regional roles
Impediments to Coordination
-managers may be concerned with different parts of the business an these differences can inhibit communication -lack of respect between subunits -seperation by time zone, distance, and nationality
Economies of scale
-reduction in unit cost by production of a huge volume -spread fixed costs over large volume -must serve global market o be efficient -global sales increase, size of enterprise and bargaining power increases
organizational architecture
-the totality of a firms organization, including formal organization, control systems and incentive, processes, organizational culture, and people
Arguments for Decentralization
-top management can become overburdened -motivational research favors this stance -greater flexibility and more rapid response -decisions may be better and more closer to the spot where info is from -can increase control: organized self-contained units
Large Scale of entry Consequences
-value of strategic commitments: long term impact -decrease strategic flexibility -late entrants can still expand through benchmarking and differentiating
Implementing change
1 unfreeze the organization 2 Move to the new State 3 Refreeze the organization
Advantages and disadvantages of licensing
ADVANTAGES -licensee puts up most of the capital necessary -attractive when firm does not want to risk going into an unfamiliar or politically volatile market -when a firm is prohibited by barriers to a market -when a firm has an intangible property with business applications but does not want to develop them itself DISADVANTAGES -no tight control over marketing, manufacturing or strategy to realize learning curve of location economy -inability to engage in global strategic coordination
Research and development
Design of product and production process -increase efficiency of production and lower C -Superior design can increase functionality and make a product more attractive to consumers (raise V)
Joint Venture
Firm that is jointly owned by two or more otherwise independent firms 50/50 ADVANTAGES -access to local partner's knowledge -sharing development costs and risks -politically acceptable DISADVANTAGES -lack of control over technology -inability to engage in glabal strategic coordination
Global Standardization Strategy
Increasing profitability and profit growth by rearing the cost reductions that cmd from economies of scale, learning effects, and location economies. -high pressure for cost reduction -Low pressure for local responsiveness
Transnational Strategy
achieve low costs through location economies, economies of scale, and learning effects while differentiating their product across geographical markets to account for local differences and to foster a multi directional flow btwn different subsidaries in a firm -high pressure for cost reduction -high pressure for local resposiveness
Customer Service
after sale service and support -perception of superior value by solving customer problems
Strategic alliance
agreement between potential or actual competitor -low costs and risks for doing business in an advanced foreign economy that is politically stable -optimal mode varies by situation -economic benefits are a function of size of market, likely future wealth of consumers which depends on growth rates, suitability of product in market
PDF (Portable Document Format)
an extension for Adobe Acrobat reader files
Location Economies
arise from performing a value creation activity in the optimal location -take note of political,legal, and cultural differences -note trade barriers and transportation costs -can help firm achieve low cost position and/or enable differentiation of product -greater cost economies by serving glob from central location (reduce costs of value creation) -valuable skills developed in foreign operations
licensing
arrangement where a licensor grants a licensee rights to an intangible property for a given amount of time in exchange for a royalty fee. -patents, formulas, processes, designs, copy rights
Local Responsiveness pressure
arrise from differences in national tastes, preferences, infrastructure, practices and distribution channels.
