Advertising management Advertising Management Advertising is any paid

Advertising management

Advertising Management • Advertising is any paid form of nonpersonal presentation and promotion of ideas, goods or services by an identified sponsor.

5 M’s of Advertising • • • Mission Money Message Media Measurement

Developing and Managing an Advertising Program • • Selecting the Advertising Objectives Deciding on the advertising Budget Choosing the Advertising Message Evaluation and Selection Deciding on the Media Message Execution Evaluating Advertising Effectiveness

Setting the advertising objectives • Colley’s list of 52 possible advertising objectives (DAGMAR approach) • Telling the market about new product • Suggesting new uses for a product • Informing the market of a price change • Explaining how the product works • Describing available services • Correcting false impression • Reducing buyers’ fears • Building a company image

Setting the advertising objectives • Building brand preference • Encouraging switching to the brand • Changing buyers perception of product attributes • Persuading buyers to purchase now • Persuading buyers to receive a sales call

Setting the advertising objectives • Reminding buyers that the product may be needed in the near future • Reminding buyers where to buy it • Keeping in buyers mind during off seasons • Maintaining its top of mind awareness

Deciding on advertising budget • Factors to be considered while setting the advertising budget – – Stage in PLC Market share and Consumer Base Competition and clutter Advertising frequency

Deciding on advertising budget • • Percentage of sales method Competitive parity method Objective and task method Affordability method

Choosing the advertising message • Message generation – Inductive framework • Talking to customers, dealers, experts, and competitors • In-depth interviewing – Deductive framework • appeals , rewards • (rational, sensory, social, ego satisfaction)

Message evaluation and selection • Desirability • Exclusiveness • Believability

Message execution • Style – – – – – Slice of life Lifestyle Fantasy Mood or image Musical Personality symbol Technical expertise Scientific evidence Testimonial evidence

Message execution • Tone – Positive tone – Humorous – Emotions

Message execution • Words • Format – ad size – Color – illustrations

Social responsibility review • Social & legal norms

Deciding on the media • Deciding on Reach, Frequency and Impact

Choosing among major media types • • Target audience media habits Product Message cost

Selecting specific media vehicle • • Circulation Audience Effective ad exposure audience • Cost per thousand criteria

Deciding on Media Timing • Macro-scheduling problem • Micro-scheduling problem – – Continuity Concentration Flight pulsing

Evaluating Advertising effectiveness • Communication effect Research (copy testing) direct rating method portfolio test Laboratory test in-home test Trailer test theater test On-air test

Evaluating Advertising effectiveness • Sales effect Research – Historical approach – Experimental design