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Lecture 12, Sept. 21st

by: Meghan Shah

Lecture 12, Sept. 21st ADPR 3100-0

Meghan Shah
GPA 3.78

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Newspapers and magazines (Print advertising)
Principles of Advertising
Nathaniel J. Evans
Class Notes
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This 6 page Class Notes was uploaded by Meghan Shah on Tuesday October 4, 2016. The Class Notes belongs to ADPR 3100-0 at University of Georgia taught by Nathaniel J. Evans in Fall 2016. Since its upload, it has received 6 views. For similar materials see Principles of Advertising in Advertising at University of Georgia.

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Date Created: 10/04/16
Lecture 12: Newspapers and Magazines Sept. 21st Newspapers  Profile ○ Low reach (circulation) ○ High frequency (daily papers) ○ Fairly high cost per an impression  ▪ Price has been driven up by the decline of readers/subscribers ○ Supplemental medium (now) ○ Upscale, older audience ○ Good for local and retail ads  Strengths ○ Higher reach with older, upscale people and opinion leaders ○ Desirable target markets ○ Immediacy  ▪ Next day publication   Makes it very easy to fix and adapt   Flexible ○ Credibility  ▪ Newspapers are seen as the medium with the most credibility   People trust newspapers and journalists, because they’re more objective  Drawbacks ○ So much clutter  ▪ People want to read articles, not ads ○ Declining readership ▪ More and more content is going online ○ Increasing cost of advertising  ▪ In order to substitute the loss of subscribers, the cost of placing ads has gone up ○ Challenges from online news aggregators  ▪ People don’t want to pay for the news   Information is so much easier to access now  Can be accessed for free  Newspaper Advertising Categories ○ Classified ○ Display ▪ Local retail ▪ National ○ Co­op (Cooperative Advertising) ○ Classified ▪ Personal – people placing ads ▪ About $10 billion a year in ad expenditures in 2008 ▪ Now, less than $5 billion a year ▪ What could be contributing to this?  Sites like Craigslist and Facebook, social media, and apps ○ Display ▪ Basically all other, non­classified newspaper advertising  ▪ Primarily local (retail) businesses:  Local retailers are the main source of display ad $  These are physical places you can go and buy stuff  Local to the area – can be big chains/national stores in the immediate  area  ­ Products are nation, but the actual stores and retailers are local  Changing retailer market:   Consolidation & greater market shares  Service concentration – like Walmart, “one­stop­shop”  Puts a lot of stress on small businesses/retailers ­ It reduces their ad budget and ability to spend ▪ Secondary source of $ are national advertisers  Can be brands with no local or nearby stores  National ads are more about branding and less about trying to get people  to go to the stores  Standard Advertising Units    Allow national advertisers to seamlessly buy across multiple outlets/in  different markets ­ Don’t have to prepare different ads for different newspapers ○ Co­op ▪ Partnerships  Local retailers lower costs  National companies expand reach  National advertisers cover 50 – 100% of costs  Big national brands (that don’t or mostly don’t have their own stores) sell  their products through local retailers, especially big department stores, like Belk.  The brand and store advertise together  “Come get your new ___ at ___store”  The goal is to get consumers into the store buy the brand’s products  Buying Space ○ Flat rate – no discounts; uniform charge regardless of space bought ○ Open rate – discount structure; also refers to the highest rate against which all  discounts are applied.  Two kinds: ▪ Bulk – advertiser is charged proportionally less as more space is purchased.   Amount of space ▪ Frequency – advertiser is charged proportionally less as more insertions are  purchased.  Number of ads. ○ CPM = (cost of space * 1000) / circulation ▪ CPM – cost per thousand ▪ Example:  Red & Black of Athens  Cost for quarter page: $1440.60   3 quarter page ads  Circulation: 10,000  Population of Athens: 120,000  CMP = [(3(1440.6) * 1000] / 10,000 = $388.80  ○ GRPs = reach * frequency ▪ Reach = [(total circulation of all ads) / (total target market)] * 100  ▪ Frequency = number of ads ▪ Example:  Reach = (10,000 / 120,000) * 100 = 8.33  Frequency is 3  GRPs = 25 ○ Cost­effectiveness ▪ $ per GRP = (total cost of print space)/ (GRPs delivered by print) ▪ Example:  $ per GRP = 3,888 / 25 = $155.52  3,888, because 3 ads at $1440.60 each  25 is # of GRPs  Magazines  Profile ○ Very low reach ▪ Low circulation, low readership numbers ○ Medium frequency ○ Very high cost per impression ▪ Magazines have nicer quality than newspapers ○ Supplemental medium ○ The have very niche audiences.   ▪ Targeted audiences flock to certain magazines ▪ Advertisers choose specific magazines to advertise in, because the readers  are the same kind of people who are likely to buy the advertised products  Strengths  ○ High credibility ○ Advertising to a specific target audience ○ High quality (production) ○ More creative flexibility ○ Long shelf lives ▪ Articles can be relevant and useful for years ▪ Boosts reach and frequency ○ Segmenting ▪ Super targeted audiences ▪ Strong visuals  Drawbacks ○ High cost ○ Lots of clutter ▪ People want content, not the as ○ Long lead time ▪ Ads have to be designed and placed months before the ad is run ▪ Difficult to reach large audience segments  ▪ Low frequency    Most magazine print only once a month Self­selection bias – situations wh the caracteristics of the people which cause them to select themselves in the group create abnormal or undesirable conditions in the  group   Best Use ○ Complete information ▪ Detailed articles ○ Supplemental  ○ Older, targeted, more affluent segments ○ Target market must be a big city  Creative flexibility ○ Many different kinds of spreads and layouts ○ Can use/add certain elements to the medium ▪ The opaque page over the picture   ▪ The magazine where the inside of the front goes with the inside of the back ▪ Pop­ups ▪ Interactive ads   The tightening of the bra  Scratch and sniff  Rip out pages and use the magazine as a mirror when sun tanning  Make things like a bottle opener   Edibles  ▪ With the internet and smart phones, you can have multiplatform ads  Much more interactive  Immersive   Super   Apps   Videos  Games   Buying Space in Magazines ○ Prices depend on size and frequency ○ Ex: Car & Driver Space  1 time 6 times 12 times 1/2 page $27, 612 $25,955 $24,298 1/3 page $19,506 $18,392 $17,218 1/6 page $10,875 $10,223 $9,570  Buying ○ Cost and number of readers aren’t everything ○ Effectiveness in reaching your target market is very important ○ Example:  ▪ Cost of space: $250,000  ▪ Population: 1,500,000 ▪ In target market circulation: 275,000 ▪ Target market population: 5,000,000 ▪ Number of ads bought: 15 ○ CPM = (cost of space * 1,000) / circulation ▪ Cost per thousand ▪ Example:  (250,000 * 1000) / 1,500,000 = $166.67 per thousand ○ Weighted CPM = (cost of space * 1,000)/ circulation in your target market ▪ Ex:  (250,000 * 1,000) / 275,000 = $909.10 per thousand (weighted) ○ Reach = [target market circulation / target market population] * 100 ▪ Example: (275,000 / 5,000,000) * 100 = 5.5 % reach ○ GRPs = reach * number of ads bought ▪ Ex: 5.5 * 15 = 82.5 ○ $ per GRP = total cost of print space / GRPs ▪ Ex:   250,000 / 82.5 = $3,030.30 per GRP  Verification ○ Audit Bureau of Circulations (ABC) ▪ Verifies circulation ○ Syndicated market research  ▪ Readership studies Print  Advantages ○ Trusted and influential  ▪ This boosts effectiveness ○ Segmenting  ▪ Geographically or lifestyle  Disadvantages ○ Comparatively high cost ○ Clutter ○ National, larger markets are unreachable


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