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Wednesday, April 1, 2015

Media

Problem Based Learning (PBL). Trigger 7.

Media 

Problem: How to use data in media planning?
Learning Objectives:
1. What is media planning?
 What is the definition of media planning?
Why do you need media planning? Why is it important for companies?
2. What are the characteristics of media?
·      What types of media do you have? For each type, what are the characteristics?
·      What factors are important to media selection? How does the media type depend on them?    
3. How is data used for media planning?
·      Why do you need to use data in media planning? Why is it important?
·      How do companies gather and use data to understand consumer behaviours and changing media landscape?
(Key words: Intermedia, intramedia, owned media,earned media, paid media etc.)
 What is media planning?
Media are the facilitators that make it possible to deliver advertising message. (the singular from media is medium).
Media vehicle- a single media outlet (e.g. a magazine, a radio station etc.)
The advertising unit- the specifications of the individual advertisement (e.g. full-page ad)
Four Basics of advertising: reach, frequency, impact, continuity.
Media Planning-An advertising strategy most commonly employed to target consumers using a variety of informational outlets. Media planning is generally conducted by a professional media planning or advertising agency and typically finds the most appropriate media outlets to reach the target market.
Media Planning-the process of establishing the exact media vehicles used for the advertising 
Media Planning (Online)
What are the characteristics of media?


3 main components  of media plan:

  1. Defining the marketing problem
  2. Translating the marketing requirements into attainable media objectives
  3. Defining a media solution by formulating media strategies

Advertising media generally include:
  • Television
  • Radio
  • Newspapers
  • Magazines (consumer and trade)
  • Outdoor billboards
  • Public transportation
  • Yellow Pages
  • Direct mail
  • Specialty advertising (on items such as matchbooks, pencils, calendars, telephone pads, shopping bags and so on)
  • Internet
  • Social Media 
  • Other media (catalogs, samples, handouts, brochures, newsletters and so on)
  • When comparing the cost and effectiveness of various advertising media, consider the following factors:
    • Reach. Expressed as a percentage, reach is the number of individuals (or homes) you want to expose your product to through specific media scheduled over a given period of time.
    • Frequency. Using specific media, how many times, on average, should the individuals in your target audience be exposed to your advertising message? It takes an average of three or more exposures to an advertising message before consumers take action.
    • Cost per thousand. How much will it cost to reach a thousand of your prospective customers (a method used in comparing print media)? To determine a publication's cost per thousand, also known as CPM, divide the cost of the advertising by the publication's circulation in thousands.
    • Cost per point. How much will it cost to buy one rating point for your target audience, a method used in comparing broadcast media. One rating point equals 1 percent of your target audience. Divide the cost of the schedule being considered by the number of rating points it delivers.
    • Impact. Does the medium in question offer full opportunities for appealing to the appropriate senses, such as sight and hearing, in its graphic design and production quality?
    • Selectivity. To what degree can the message be restricted to those people who are known to be the most logical prospects?
    • (Taken from: http://www.entrepreneur.com/encyclopedia/media-planning)
    • Changes that affected media channels over the past 15-20 years:
    1. The advent of cable television (from 15 to 100+ channels,  meaning the  reduction of the audience for any of them )
    2. The spread of tv remote control (people do not have to get up to switch channels)
    3. The rise of the digital media and the Internet
How is data used for media planning?



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