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51 Cards in this Set
- Front
- Back
Marketing Objectives
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-sales
-market share -financial |
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Situation Analysis
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-brand performance(now/past)
-competitive analysis -SWOT |
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Marketing Strategies
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-Increase sales-how?
-enlarge userbase of brand -increase brand usage of current users -target consumer identification |
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Advertising Objectives
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-inform
-persuade -remind |
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AIDA MODEL
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awareness 75%
interest 50% desire 35% action 15% |
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Media Objectives
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-target audience(primary/secondary)
-scale of campaign -communication goals (reach, frequency, effec.reach & frequency, ad cycles) -time frame criteria:specific,realistic and assesable (measureable) |
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Target Audience
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-demographics
-product category usage -brand usage (sole users, primary users etc..) -simmons choices 3 |
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VALS
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Values and Lifestyles
-consumers should be segmentated on the basis of enduring personality traits -by using psychology to analyze and predict consumer preferences and choices VALS created an explicit link between personality traits and purchase behavior |
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PRIZM
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geodemographic
-62 neighborhoods lifestyles clusters -based on similar demographics and consumer behavior -matched with geocode |
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OSTROW MODEL
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-model for setting effective frequency
- factors to consider: Market factors copy factors media factors -subjective assesment of these factors to derive an optimal level of frequency |
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Percentage of Sales
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Budgets as a % of previous years sales or profit
PROS & CONS: easy to manage/understand self correcting not logical assuming a direct, linear relationship btw sales and ad spending *use industy average* |
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Competitive Spending
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setting the budget in considering of the amount of competitors ad spending
PROS & CONS: competition is considered comp. may have diff. goals comp. may not know what they are doing *AD$SuMMARY* |
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What we can Afford
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subjective decision as to amount of ad spending
PROS & CONS: management knows the industry and company, now and then. less scientific and could be conservative or radical |
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Objective and Task
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setting ad and media objectives and then estimate the cost of achieving the objectives; cost is budget
PROS & CONS: reasonable and logical difficult to estimate how much is enough cost could be too high |
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Experimentation
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testing various levels of ad spending to figure out optimum
PROS & CONS: empirically based market situation changes high costs subject to interference of competitors |
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Seasonality of Sales
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-sales are not even across months
-diagram the volume of sales by month to view the sales seasonality -factors to consider include pre-purchase search, actual purchase and post purchase evaluation -media planners always determine the timing of advertising to optimize return on investment |
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SCHEDULING METHODS
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-timing is essential
-3 basic scheduling methods continuity flighting pulsing |
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Continuity
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schedule advertising on regular basis
PROS & CONS: -remind consumers continulously -ads cover entire purchase cycle -possible to take volume discount -not good for small budget |
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Flighting
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schedule advertising in an intermittent pattern
PROS & CONS: - good for small budget - concentrated on high sales per - combat competition with heavy ads - subject to threats from competition |
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Pulsing
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combonation of continuity and flighting
PROS & CONS: -represents best of both worlds -may not be good for all products -depends on seasonality of sales |
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Research Patterns
BLITZ PATTERN |
continuity
(box) |
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WEDGE PATTERN
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starts out intense and fades
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REVERSE WEDGE
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starts out weak and goes to intense
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SHORT FAD PATTERN
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increased adv/intense then when it hits peak, stop adv and drops.
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Geographic Terms
METROPOLITAN STATISTICAL AREA (MSA) |
-defined by US govt
-metro area -consist of major city and neighboring counties |
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DESIGNATED MARKET AREAS
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-210 DMA in total
-counties are exclusively assigned to the market w/highest tv viewig -top 10: NY,LA,CHI,PHILLY,SANFRAN, OAKLAND,BOSTON,DALLAS,DC,DET,ATL -Lansing.EL 107th |
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Brand Development Index (BDI)
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numerical display showing geographic areas of a brand relative strength or weakness
DATA NEEDED: brand sales by market and total brand sales in all markets |
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Category Development Index (CDI)
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numerical display showing geographic areas of a prodct categorys relative strength or weakness
DATA NEEDED: category sales by market and total category sales in all markets |
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BDI AND CDI EQUATIONS
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BDI= % brand sales in mkt/
% of population in mkt X100 CDI= % category sales in mkt/ % of population in mkt X100 |
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Defensive Strategy
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allocae more $ to the markets where brand performance is above average
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Offensive Strategy
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allocate more $ to the markets where brand performance is below avg but sales potential high
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COMPETITIVE TOOLS
Competitive Media Reports (CMR) |
-expansive list of media
-tracks million brands, 15 categories -provides program by program estimation $ spent and ratings network and cable tv -spending info in top 100 media markets -tracks outdoor, print and internet |
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COMPETITIVE TOOLS
Adviews (nielson market research) |
-doesnt cover international print/business
-covers freestanding inserts (CMR DOESNT) |
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Share of Voice (SOV)
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media spending of your brands and competing brands in a given media category
-takes into account actual delivery for each medium draws distinction btw tv & print |
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Media Mix Analysis
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Mass media
-Used to create or build brand awareness and attitude for a long-term effect Direct response media -Focuses on behavioral response, either direct inquiry or direct sales POP media -Reach the prospect at the point-of-purchase Opportunities for the consumer to experience samples |
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Primary and Seconday Media
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Primary media
-To accomplish both the brand awareness objective and brand attitude objective Secondary media -To address one aspect of the objective, such as coupons or direct mail of free samples |
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TV
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Pros
-Excellent for dramatic presentation -Greatest reach potential nationwide -Can achieve rapid product awareness -Strong visual impact Cons -Expensive to buy -Increasing commercial clutter -Less educated audience |
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RADIO
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Pros
-Can target by station -High frequency -Excellent for mobile population -Low production and media cost Cons -Small audiences -Command no full attention -Expensive to attain high reach |
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NEWSPAPER
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Pros
-Timeliness -Convey detailed copy -Wide variety of ad sizes -Excellent geography flexibility Cons -Limited ability to target demographically -Mediocre reproduction quality |
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MAGAZINES
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Pros
-Ability to match ads with editorial -High reproduction quality -Excellent for detailed copy -Reach narrow target audience Cons -Long lead time -Uneven market-by-market coverage |
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DIRECT MAIL
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Pros
-Good to reach specific targets -Customized ad messages -Ability to use long copy -Measurable response Cons -Low response rate -Rising cost and high CPM |
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INTERNET
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Pros
-Various creative options -Reach an active audience -Electronic word of mouth -Quick response Cons -Always innovative to work -Audience data less accurate |
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EVENTS
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Pros
-Unmediated communications -High involvement -Multi-sensory exposure Cons -High costs -Limited reach |
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Vehicle Selection
QUANTATIVE |
those can be measured and estimated numerically
-audience ratings -ontarget ratings -audience duplication w/other vehicles -geographic coverage -cost efficiency |
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Vehicle Selection
QUALITATIVE |
-those primarily judgemental
-characteristics of a medium that may enhance the effectiveness of an ad -reputation -editorial environment -position -reproduction quality -added values |
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Reach Rule
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-high frequency, buy many competiting vehicles and place one or only few ads in each vehicle
-competiting vehicles loss opportunity -->reach max |
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Frequency Rule
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-increase frequency, buy multiple insertions in few non competing vehicles
-buy ad space frequently in daily paper (month mag) |
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Reach and Frequency Rule
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-Buy multiple insertions in a moderate number of reasonably big, competing vehicles
-Requires a bigger budget because of a reverse relationship between reach and frequency give a fixed budget |
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Cost Rule
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-Among the vehicles that deliver desired reach and frequency, most efficient vehicles are selected, assuming similar qualitative factors
-CPM and CPP are used to compare the cost of vehicles |
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What to Evaluate?
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-Exposure
-Awareness -Comprehension -Conviction (convincing) -Action |
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How to Evaluate?
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-Surveys
-Observation -Tracking (shopperID, nielson) -Feedback (coupons, direct mail..etc) |