Sep 5, 2013

MBA Notes - Media Planning Process

The word Media came from the Latin word "Middle". Media Planning, in advertising, is a sequence of decisions involving the transmission of message to the segmented audience. Media Plan is the plan that details the usage of media in an advertising campaign including markets, costs, reach, running dates, rationales, frequency and strategies.
Steps in Development of Media Plan
Market Analysis
Every media plan starts with the market research or environmental analysis. Complete review of internal and external factors is essential to be done. Media planners try to identify answers of the following questions:
What internal and external factors may influence the media plan? 
Who are the target customers?
Where and when to focus the advertising efforts?
The target audience can be classified in different variables like age, sex, income, occupation etc. The classification of target customers helps media planner to recognize the media utilization tendency, and accordingly select the most suitable media or media mix.
Establishing Media Objective
Media objectives explain what you want the media plan to achieve. There are 5 key media objectives that a advertiser or media planner has to consider - reach, frequency, continuity, cost, and weight.
Reach - Reach refers to the number of customers that will be showing to a media at least once during a given time period.
Frequency - Average number of times an individual within target audience is uncovered to a media vehicle during a given time period.
Continuity - It indicates the pattern of advertisements in a media timetable. Continuity alternatives are as follows:
Continuous: tactic of organizing campaign evenly over a time period.
Pulsing: Strategy of running campaign progressively over a time span with intermittent increase in advertising at certain intervals, as during events or special occasions like World-Cup or New Year celebration.
Discontinuous: plan of promotion a lot only at certain intervals, and no advertising in the interim period, as in case of seasonal products.
Cost - It refers to the cost of different media
Weight - Weight refers to total advertising essential during a specific stage.
Determining Media Strategies
Media strategy is determined to consider as follows:
Media Mix - From the broad diversity of media vehicles, the advertiser can utilize one vehicle or mix appropriate vehicles.
Target Market
Scheduling - It refers the lot of advertisements, size of advertisements, and time on which advertisements to appear.
Seasonal Pulse: Seasonal goods like cold creams follow this preparation.
Steady Pulse: It is scheduling 1 ad which shown over a period of time, say 1 ad per week or 1 ad per month.
Periodic Pulse: A standard guide is followed in such scheduling, as in case of consumer strong and non durable.
Erratic Pulse: No usual pattern is followed in such scheduling.
Start-up Pulse: When to launch new product or services such scheduling is followed.
Promotional Pulse: This is for short time, only for a promotional time.
Reach and frequency
Creative Aspects - Creativity in ad campaigns decides the accomplishment of the product, but to employ this creativity firm must employ a media that supports such a strategy.
Flexibility - An effectual media strategy should be flexible.
Budget Considerations - In determining media planning and strategy money must be estimated and budget must be considered.
Media Selection - It covers two big decisions - selection of media class, and selection of media vehicle within media class.
Implementation of Media Plan
The implementation of media plan requires media buying. Time and space buying in the selected media refers Media Buying. Following are the steps in media buying:
Collection of information: Media buying requires enough information about nature of segmented audience, nature of target market, etc.
Selection of Media/Media Mix: Considering the gathering information and ad-budget, media or media mix is chosen which suits the necessities of both - target audience and advertiser.
Negotiation: Price of media is communicated to procure media at the low possible price.
Issuing Ad - copy to media: Ad-copy is issued to the media for telecast or broadcast.
Monitoring performance of Media: Advertiser has to observe whether the telecast or broadcast of ad is done correctly as decided.
Payment - It is the advertiser responsibility to make payment of media bills on time finally.
Evaluation and Follow-up
Evaluation is necessary to judge the performance of any activity. Two factors are vital in assessment of media plan:
How successful were the strategies in achieving media objectives?
Was the media plan victorious in accomplishing advertising objective?
Successful strategies help to construct confidence and serve as reference for developing media strategies in future, and failure is in detail analyzed to avoid mistakes in future.

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