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71 Cards in this Set

  • Front
  • Back
SMART
Specific

Measurable


Achievable


Realistic


Time Limited

Pareto Principle
20% of users are responsible for 80% of consumption. The remaining 80% consume the final 20%.
TV Viewership
Increases in Winter
Magazine readership
Increases post-holidays


SOM
Share of Market (brand sales/category sales)
SOV
Share of Voice (brand expenditures/category expenditures)
Advertising Objectives
-Gain product awareness

-Share "new" news on products


-Change consumer attitudes


-Brand association/awareness

Media Objectives
-Reach (goal is to get above 80%)

-Frequency (goal is to get 3+)


-Continuity


-Scheduling/timing


-Geography


-Target Audience

4 Types of Objectives
-Media

-Advertising


-Communication


-Media

Media Costs
The audience of a medium or media vehicle
Unit/Vehicle Costs
How much you pay for placement--based on the total number of impressions and the value advertisers place on those impressions
Cheapest VS Economical
The one that costs the least at the surface value VS. The one that reaches the most for the lowest cost
Unique Visitors
Unduplicated Audiences
Media Mix
Combination of media to achieve objectives
RFCI
Reach

Frequency


Continuity


Impact

Maximum Frequency and Avg Frequency Yearly
12 yearly, 3 monthly (remember the 3+ rule)
Objective
The goal of your efforts
Strategy
Your plan to reach your objective
Tactics
What you will use in your strategy to reach your objective
Media Strategies
-Media Mix

-Media Scheduling

Media Tactics
-Description

-Cost


-Impressions/rating


-Rationale

Universe
A group of people who share the same characteristics
Reach
Numerical vs. Percentage
Frequency
Insertion vs. Exposure
Household
A group of people living together


TV Household (TVHH)
A household with an operating TV set, the set can be either off or on
Rating
Percentage of the universe exposed to a media vehicle (looks at entire universe)
Share
Percentage of audience using a medium that is tuned to a media vehicle (looks at TVHH)
Impression
Each time any audience is exposed to the ad, whether it's the same person or a new audience
GRP
Gross Rating Point--the sum of the ratings within a certain period of time
TRP
Target Rating Point--generally higher than GRP, it's those who are targeted with a selected media
ERP
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)
TAI
Total Audience Impressions (gross impressions)
Click Through
The action of following a hyperlink within an advertisement to another website or another page within the website
Mouse-Over
User places mouse over an ad to view without clicking
CPC
Cost-per-Click
CPL
Cost-per-Lead: Advertisers pay for each customer that fills out a sign-up or lead form
CPA
Cost-per-Action: Advertisers pay when an action is taken (something is viewed, someone registers for something, etc.)
Bidding
The more popular a keyword, the more it may cost
Budget
Always tied to media objectives, strategies and tactics
Budgeting Strategies
-Percent of Sales

-Competitive Spending


-Objective and tasks


-Subjective budgeting ("all we can afford")

Percent of Sales
Find the best multiplier:

advertising expenditures $/total sales $

Competitive Spending
Spending in relation to how much your competitors spend
Objective and Task
Whatever it costs to achieve the objective
Subjective Budgeting
Rely on experience and use "all we can afford" reasoning
Factors Affecting the Size of Advertising Budget
-Advertising Task

-Frequency of Purchase


-Target is Hard to Reach


-Increased Demand for Brand


-New Product (1.5 to 2 times rule)


-Competition

1.5 to 2 times rule
Your SOV (share of voice) has to be 1.5 to 2 times higher than SOM (share of market)
What's in your budget?
-Working dollars

-Nonworking dollars


-Contingency dollars


-Agency compensation

Working dollars
Allocated to programs that impact the market; ex. paid media, promotions, publicity, etc.
Nonworking Dollars
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

Contingency Dollars
Money set aside for a variety of situations; ex. purchase of opportunistic media programs
Agency Compensation
Allocated funds to pay agency employees for devising/activating programs
Newspaper
Daily--published at least 4 days a week, usually 7 though

Weekly--published 3 or fewer days a week

Classified Advertising
aka "want ads", they are organized by classification; found all in one particular place in the print vehicle
Display advertising
-regular advertising, found throughout the print vehicle
SAU
Standard Advertising Unit; lists several standard sizes of newspaper ads; measures in column-inch
Flat rate
No discounts available for ad space, no matter how much is purchased
Open rate
The highest rate charged before discounts are applied
Combination Rate
Lower rate to advertisers who use more than one paper in the chain
Short Rate
If an advertiser fails to earn the discounted rate in the contract,the advertiser must pay the difference in costs
Rebate
If an advertiser use more advertising than anticipated and earns an even better discount that was contractually offered then the newspaper pays him
Life-sized magazine
12" by 15"
Time-sized magazine
8" by 11"
Digest-sized
5" by 8"
Television Ad prices depend on
-Audience size

-Length


-Availabilities


-Day and time

TV times
-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

Upfront Buying
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
Scatter Buying
Quarter by quarter basis. 20% higher in costs than the upfront market
Opportunistic buying
Leftover ad slots on TV
"Out" option buying
Advertising can be cancelled in new TV programs flop
Radio
The ultimate medium to multitask with!