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71 Cards in this Set
- Front
- Back
SMART
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Specific
Measurable Achievable Realistic Time Limited |
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Pareto Principle
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20% of users are responsible for 80% of consumption. The remaining 80% consume the final 20%.
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TV Viewership
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Increases in Winter
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Magazine readership
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Increases post-holidays
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SOM
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Share of Market (brand sales/category sales)
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SOV
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Share of Voice (brand expenditures/category expenditures)
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Advertising Objectives
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-Gain product awareness
-Share "new" news on products -Change consumer attitudes -Brand association/awareness |
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Media Objectives
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-Reach (goal is to get above 80%)
-Frequency (goal is to get 3+) -Continuity -Scheduling/timing -Geography -Target Audience |
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4 Types of Objectives
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-Media
-Advertising -Communication -Media |
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Media Costs
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The audience of a medium or media vehicle
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Unit/Vehicle Costs
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How much you pay for placement--based on the total number of impressions and the value advertisers place on those impressions
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Cheapest VS Economical
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The one that costs the least at the surface value VS. The one that reaches the most for the lowest cost
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Unique Visitors
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Unduplicated Audiences
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Media Mix
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Combination of media to achieve objectives
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RFCI
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Reach
Frequency Continuity Impact |
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Maximum Frequency and Avg Frequency Yearly
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12 yearly, 3 monthly (remember the 3+ rule)
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Objective
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The goal of your efforts
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Strategy
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Your plan to reach your objective
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Tactics
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What you will use in your strategy to reach your objective
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Media Strategies
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-Media Mix
-Media Scheduling |
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Media Tactics
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-Description
-Cost -Impressions/rating -Rationale |
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Universe
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A group of people who share the same characteristics
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Reach
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Numerical vs. Percentage
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Frequency
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Insertion vs. Exposure
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Household
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A group of people living together
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TV Household (TVHH)
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A household with an operating TV set, the set can be either off or on
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Rating
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Percentage of the universe exposed to a media vehicle (looks at entire universe)
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Share
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Percentage of audience using a medium that is tuned to a media vehicle (looks at TVHH)
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Impression
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Each time any audience is exposed to the ad, whether it's the same person or a new audience
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GRP
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Gross Rating Point--the sum of the ratings within a certain period of time
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TRP
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Target Rating Point--generally higher than GRP, it's those who are targeted with a selected media
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ERP
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Effective Rating Point--generally lower than GRP, it accounts for reach+frequency. In other words, it accounts for audiences who are exposed to your ad 3+ times (the 3+ rule)
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TAI
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Total Audience Impressions (gross impressions)
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Click Through
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The action of following a hyperlink within an advertisement to another website or another page within the website
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Mouse-Over
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User places mouse over an ad to view without clicking
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CPC
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Cost-per-Click
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CPL
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Cost-per-Lead: Advertisers pay for each customer that fills out a sign-up or lead form
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CPA
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Cost-per-Action: Advertisers pay when an action is taken (something is viewed, someone registers for something, etc.)
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Bidding
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The more popular a keyword, the more it may cost
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Budget
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Always tied to media objectives, strategies and tactics
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Budgeting Strategies
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-Percent of Sales
-Competitive Spending -Objective and tasks -Subjective budgeting ("all we can afford") |
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Percent of Sales
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Find the best multiplier:
advertising expenditures $/total sales $ |
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Competitive Spending
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Spending in relation to how much your competitors spend
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Objective and Task
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Whatever it costs to achieve the objective
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Subjective Budgeting
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Rely on experience and use "all we can afford" reasoning
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Factors Affecting the Size of Advertising Budget
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-Advertising Task
-Frequency of Purchase -Target is Hard to Reach -Increased Demand for Brand -New Product (1.5 to 2 times rule) -Competition |
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1.5 to 2 times rule
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Your SOV (share of voice) has to be 1.5 to 2 times higher than SOM (share of market)
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What's in your budget?
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-Working dollars
-Nonworking dollars -Contingency dollars -Agency compensation |
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Working dollars
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Allocated to programs that impact the market; ex. paid media, promotions, publicity, etc.
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Nonworking Dollars
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Allocated to the creation of the programs; ex. production of message, talent cost for celebrity endorsements, etc.
*Nonworking dollars CANNOT impact the marketplace on their own |
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Contingency Dollars
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Money set aside for a variety of situations; ex. purchase of opportunistic media programs
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Agency Compensation
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Allocated funds to pay agency employees for devising/activating programs
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Newspaper
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Daily--published at least 4 days a week, usually 7 though
Weekly--published 3 or fewer days a week |
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Classified Advertising
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aka "want ads", they are organized by classification; found all in one particular place in the print vehicle
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Display advertising
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-regular advertising, found throughout the print vehicle
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SAU
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Standard Advertising Unit; lists several standard sizes of newspaper ads; measures in column-inch
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Flat rate
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No discounts available for ad space, no matter how much is purchased
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Open rate
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The highest rate charged before discounts are applied
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Combination Rate
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Lower rate to advertisers who use more than one paper in the chain
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Short Rate
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If an advertiser fails to earn the discounted rate in the contract,the advertiser must pay the difference in costs
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Rebate
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If an advertiser use more advertising than anticipated and earns an even better discount that was contractually offered then the newspaper pays him
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Life-sized magazine
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12" by 15"
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Time-sized magazine
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8" by 11"
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Digest-sized
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5" by 8"
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Television Ad prices depend on
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-Audience size
-Length -Availabilities -Day and time |
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TV times
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-Morning: 7 to 10am
-Daytime: 10am to 5pm -Afternoon: 4/5pm to 6pm -Primetime: 7/8pm to 10/11pm -Late Night: anytime after 12/1am |
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Upfront Buying
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Network ad buying happening in advance of the new season. Preferential pricing treatment, first choice of specific programs. Purchase is for a fourth through third quarter
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Scatter Buying
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Quarter by quarter basis. 20% higher in costs than the upfront market
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Opportunistic buying
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Leftover ad slots on TV
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"Out" option buying
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Advertising can be cancelled in new TV programs flop
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Radio
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The ultimate medium to multitask with!
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