The word advertising is derived from a Latin word Advertere which meand to to tu
ID: 372864 • Letter: T
Question
The word advertising is derived from a Latin word Advertere which meand to to turn the mind. Broadly speaking, advertising does turn the attention of people to a commodity or service.
Types of media:
1.Broadcast : The advertisements use electronic media like television, radio, video and audio cassettes, electronic display boards, and CD- ROM's for promotion of products and services will come under broadcasting.
2.Print: Print medium comprises newspapers and magazines. Let us now discuss the distinct features of newspapers and magazines.
Newspapers :
- These are published in different languages and are widely and regularly read by the educated public.
- Newspapers published in regional languages also have wide circulation, sometimes covering more than one state. As a medium od advertising, newspapers reach a very large number of people.
- Newspapers advertising is relatively cheaper than other media like rafio and television.
- The advertising space can be decided in accordance with the need and cost.
- Since the general public read newspapers, this is found to be a suitable media for mass consumption goods.
- The life of a newspaper is very short as people read the newspapers in the morning and put them aside .
Magazines :
- Mazagines are also called periodicals as they are published at certain periodical intervals like weekly , fortnight, monthly , etc.
- Different types of magazines are published for different categories of readers.
- Since magazines are generally read over a period of time, they have a longer life than newspapers.
- The cost of advertising in magazines is relatively cheaper as compared to other media like radio and television.
-Magazines have lack of flexibility in the choice of size and design of the advertisement. The design cannot be changed as quickly as in the case of a newspaper.
3. Out of home : Outdoor media of advertising refers to the media used to reach people when they are out doors or travelling rather than at home or office. Examples are posters, movie theatres, shopping carts, etc.
4. Digital : The Internet is now used as an alternative media for communication and dissemination of product information. Interactive media allows an individual to seek information, ask questions, and get answers without any human assistance.
Use of email advertising as a promotional medium is gaining prominence day by day. Email as an advertising medium offers advantage of personification, speed, and interactivity. Examples are softwares, websites, Web pages, databases etc.
5. Branded entertainment : Brand advertising is the most popular form of advertising. All possible media including television is flooded with brand advertising. Brands like surf excel, pepsi and coke in India are shown more frequently on televisions.
Paid media : paid media is simple to understand by all the three channels. This includes to pay for the TV advertising, and for radio slots booking, and for the printing advertising like newspapers and magazines.
Owned media: This media will come under content marketing strategy. The content you create and publish on a channel our own. This may include the blogs , website, and ebooks .promoting this on social media is key to distributing it widely.
Earned media: which consists of conversation around our brand or product that has been created by someone else and published somewhere other than our owned channels. Earned media include press , social media, company reviews, blog posts outside the company etc.
Shared media : The paid , earned, owned media encompass a significant amount of activity for brands like Twitter, Facebook. When we like or comment on a brand's status or post on the walk of a brand's Facebook page , a physical record has been maintained. The content is partially owned and earned. The advantage of Facebook is it will pass through several friends of our account about a brand's status.which may be good or bad news about the brand.
Media schedule :
Continuous : This scheduling media involves giving messages evenly throughout the given period. For example for a company to advertise on televisions or radio stations for every month or on Saturdays and Sundays etc.
Promotion budgets:
1. Unit of scale method
Consumer durable firms making use of this method as a variant of sales percentage. While it mostly works as a sales percentage method, the firm puts an amount of advertising expenses on the unit as an add on.
2. Competitive parity method :
The firm should analyse competitor's information on sales, distribution pattern, and advertising expenditure. It will provide the correlation between the competitive sales and advertising effort.
3. Historical method:
In this method, last year's advertising budget is adopted for the year with a belief that practically no change has taken place in the market or the market growth is slow, justifying no addition to the previous budget. Last year's budget could be multiplied by a factor to cover an increase in media cost.
4. Total group budget :
In case of multi location and multi product line firms, a total amount is decided as advertising budget and each strategic business unit receives a share according to its needs.
5. Percentage of anticipated turnover :
This method is useful in dynamic marketsand one can fix the budget on estimated demand pattern rather than on the current year sales.
6. Elasticity method :
This method takes into account the seasonality of business and the periodicity of consumer purchase. This method considers the demand and supply situation and is often used in industrial product advertising.
7. Operational modelling :
Market research gives advertising expenses, market response, and sales per advertising figures. An advertising manager can develop complex linear programming and structuralmodels for arriving at a final budget.
8. Deciding on measuring advertising effectiveness :
We can measure advertising effectiveness through two methods, pre testing and post testing methods.
Explanation / Answer
Explain
Types of Media (broadcast, print, out-of-home, digital, branded entertainment)
Paid, Owned, Earned, & Shared Media: What are these? How do they work together? Which are more controlled by the marketer? Which are perceived as more credible by customers?
Media schedules: Continuous; Flighting; Pulsing
Reach; Frequency; Gross Rating Points (GRPs); Run-of-Site (ROS)
Stages in Developing the Marcom Mix
Ways to determine Promotion Budgets
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