MKT 423 Notes_Week 8
MKT 423 Notes_Week 8 MKT 4230
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This 6 page Class Notes was uploaded by Allie S on Sunday March 27, 2016. The Class Notes belongs to MKT 4230 at Clemson University taught by Dr. Knowles in Spring 2016. Since its upload, it has received 15 views. For similar materials see Promotional Strategy in Marketing at Clemson University.
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Date Created: 03/27/16
▯ ▯ Media Plan Guides media selection o Aims to find a combination of media to communicate a message: In the most effective manner To the largest number of potential customers At the lowest cost Media planning = series of decisions; delivering message to prospective customers Media objective = goals to be attained by media strategy o Is the WHAT, not the How to do it… ▯ ▯ Media objective = goals to be attained by media strategy ▯ Is the WHAT, not the How to do it… ▯ Tactical Social media objectives o Connect with existing customers/new prospective o Listen and engage Strategic social media objectives o Grow network Strategic business goals ▯ ▯ Media Terms and Concepts Plans of action ▯ ▯ Reach = number of people, individuals, that are exposed to your message ▯ Frequency = the number of times each receiver sees your ad Reach vs. Frequency o Do you want a batch of mail to reach a small number of people, but multiple times – increasing the impact of your message o Or do you want a single message to reach mass audiences? ▯ ▯ Coverage = potential audience that might receive the message through a vehicle Full Coverage – every person in target segment is reached and NO OTHER outside people (best case scenario) Partial Coverage – not all of the target is reached, but there is no waste Coverage exceeding market – Target market AND outsiders reached… waste ▯ ▯ ▯ ▯ ▯ Media Plan Guides media selection ▯ ▯ Problems with media Strategy Insufficient information Sweeps periods: Used for measuring TV audiences and setting advertising rates o Inconsistent terminologies o Time pressures o Difficulty measuring effectiveness ▯ ▯ ▯ Criteria considered in the development of Media Plans ▯ ▯ ▯ Developing a media plan ▯ ▯ Target Market Identification Primary research and/or secondary sources help determine which specific groups to target Index number: good indicator of the potential of a market (Percentage of users in a demographic) X100 (Percentage of population in the same segment) x>100 – use of the product is “higher” than normal consumption x<100 – use of the product is “less” in one segment over another than normal consumption Using indexes to determine Where to promote o Surveying of buying power index Charts potential of a particular metro area/county/city relative to the US as a whole Gives insight into relative value of a market o Brand Development Index BDI Factors the rate of product usage by geo area into the decision process o Category Development Index CDI Provides info on the potential for development of the total product category (not specific) Using BDI and CDI indexes