Free Sample: Pen…………..Marketing Analysis paper example for writing essay

Pen…………..Marketing Analysis - Essay Example

It is also said to be “the process of choosing the vehicle of mass communication in which to place an advertiser’s message, purchasing that time or space, and insuring that the advertising message runs as purchased. ” 7. Uses of Media Planning – For any venture to be successful planning is mandatory. Media planning ensures the optimal use of money and time to achieve the targeted sales value. Media planning is one of the most essential ways to help the business grow and succeed.

The goal of media planning is to reach as many people as possible but the related problem is measuring the reach, so what we require is an appropriate media centralization which will lead to proper notification of the product and get the right kind of attention. 7. 2. 1 The term media is a plural for medium. In advertising terms, medium is a Handel of communication such as news channels, entertainment channels, news papers, magazines etc. A medium is a vehicle for carrying the sales message of an advertiser to the prospects.

It is indeed a vehicle by which advertisers convey their messages to a large group of prospects and thereby aid in closing the gap between the producer at one end and the consumer at the other end. 7. 2. 2 Media planning is a very important task in the advertising process, which deals about four Was. Where, What, Who and When. Media planning involves selecting appropriate media for carrying the advertisers’ message to target markets, deciding hat to buy and how much to spend in each medium and scheduling when the advertising is to run.

Eighty percent of the budget paid to media. This, in it suggests how important media decisions are. Considering the extent and diversity of the Indian market, which is matched by a vast and diverse network of advertising media, the complexity of the media planning becomes apparent. 8 7. 2. 3 Of the numerous television advertisements we see daily very few of them succeed in creating a positive impact. You need to get the right message, the right characters to deliver it and to reach the right audience you need to pick the right Hansel. 7. About Media Planning – As it is evident from the above paragraphs that media planning is very important not only for the advertisement purpose but it is even important as it help us to promote the product in the correct manner. Choosing which type of media will be suitable for the product to be successful in the market is also important and hence it is essential that the company must select only that media which will cause them maximum profit in terms of capturing the market share and the media mode should also be with their budget. 7. 3. 1 That’s why it’s important to put together a media plan for your advertising aiming.

The three components of a media plan are as follows: a. Defining the marketing problem. Do you know where your business is coming from and where the potential for increased business lies? Do you know which markets offer the greatest opportunity? Do you need to reach everybody or only a select group of consumers? How often is the product used? How much product loyalty exists? B. Translating the marketing requirements into attainable media objectives. Do you want to reach lots of people in a wide area (to get the most out of your advertising money)? Then mass media, like newspaper and radio, might work for you.

If your target market is a select group in a defined geographic area, then direct mail could be your best bet. C. Defining a media solution by formulating media strategies. Certain schedules work best with different media. For example, the rule of thumb is that a print ad must run three times before it gets noticed. Radio advertising is most effective when run at certain times of the day or around certain programs, depending on what market you’re trying to reach. 7. 3. 2 Developing of Media Plan – The media plan is a document and section which will have the following details available – 9 a. Media outlets (newspapers, etc. – This section lists all of the media in which advertising will be placed like Print media, Radio, Television or Internet. B. Goals – This section describes the goals of the advertising, and explains why and how this plan meets these goals. C. Audience. In this section, the organization collects all the information they can get about their target audience. The organization can select their audience by using statistics like demographics or lifestyle and they can get this information from their professional association who will help them to find out this information, as well as he trade Journals can also provide them with the information.

It is important that the organization looks for any relevant articles or information about their potential buyers. They must pay attention to everything that helps them imagine an individual buyer who is typical of the whole. D. Strategy – In this stage the organization writes a statement of strategy backed up by a rationale. The action helps them describe and guide a year’s activity. E. Budget and calendar – The media plan will outline what money is to be spent where, and when which will be followed in the year ahead. 7. . 3 In developing your media plan, the organization will have to: a.

Review their marketing objectives through the “lens” of media planning. B. Review the options available. C. Evaluate them against the objectives. D. Set minimum and maximum budget constraints. E. Create alternative scenarios until the organization uncover the strategy that accomplishes their objectives within those constraints. F. Develop a schedule describing ad appearances in each medium. G. Summarize the plan in the form of a calendar and a budget. H. Negotiate with media representatives to execute the plan. 10 7. Media Terms – Media Planning is a very important component of the Marketing Strategy of an organization.

Media Planning is defined as “Process of designing a scheduling plan that shows how advertising time and space in selected media and vehicles contribute to the achievement of marketing objectives in an advertising campaign”. Media planning, in general terms, is a tool that allows the advertiser to select the most appropriate media to communicate the message in sufficient frequency towards the maximum number of potential customers at the lowest cost. 7. 4. 1 Certain Media Terms are – a. Medium – A medium is a carrier and deliverer of Advertisements.

It is a broad general category of carries such as Newspapers, Television, Radio, Internet, Outdoor, Direct Mail, etc. B. Vehicle – It is a specific carrier within a Media category. Many a time a specific programs or sections within a medium may be termed as a vehicle. C. Frequency – How frequently are the recipients being exposed to message. In other words it is the average number of times an advertisement reaches each recipient in a given period. D. Continuity – The amount of advertising budget being allocated over the period. There are basic types of ways in which the advertising budget is allocated: Continuous Scheduling, Pulsing. . Weight – The amount of total advertising is needed to accomplish advertising objectives. F. Viewers – It refers to the number of people watching a given program. A viewer is a person who is watching the program. G. Gross Rating Points – The total audience delivery or weight of a specific media schedule is counted by working on the total number of viewers. However in media the information is gauged in gross rating points (IGRP). For example if 75% of the people of our target market watched a 1 commercial on television four times in a week, to determine the gross rating points, the following formula will be used: Reach*frequency. . 5 Objective of Media Planning – Grab: ATTENTION Excite: INTEREST create: DESIRE prompt: ACTION 7. 6 Media Planning Strategy – The purpose of media planning is to conceive, analyze, and select channels of communication that will direct advertising message to the right people, in the right place at the right time. It involves many decisions: a. Where should we advertise? (In what countries, states, or parts of town) b. Which media vehicles should we use? C. When during the year should we concentrate our advertising? D. How often should we run the advertising? E.

What opportunities are there for integrating other communications? F. Media objectives translate the advertising strategy into goals that media can accomplish. They explain who the target audience is and why. Where messages will be delivered and when and how much advertising weight needs to be delivered. 7. 6. 1 In the initial stage of the product life cycle, the objective is to maximize awareness of it by consumers. At the maturity stage, continuity of the purchase becomes the main objective. During the declining stage of product use, the media remind the consumers that the product shall retain their appealing attributes.

The media objectives are reach, frequency and continuity respectively for the early, maturity and declining stages of the product lifestyle. The media objective is analyzed in the light of constraints and components. 7. 7 Steps to Achieve Effective Media Planning – To achieve the effective media planning we should do the following steps: a. Organization should have good knowledge about the product or service. B. They should be very clear with the budget allotted for advertising. 12 c. It is very important to select an appropriate ad agency which can fulfill the needs and desires of the manufacturer or producer. . Some companies will have their own advertising departments but still they will go for ad agencies to maximize the productivity. E. G. : Avoidance. E. The communication between the producer and the ad agency must be good. F. The producer’s views and ideas about the product must be shared with the ad agency. G. They must know about the target market. H. They must know about the tastes and preferences of the target audience. I. According to the budget allotted for advertising select the best media vehicle. . Organization must select the prime time slots if you are going for TV advertisement. . They must give freedom to ad agency in selecting the media vehicle. L. After completing all the above steps the organization must go for negotiations. 7. 8 Media Planning Process – It involves following steps a. When (the timing of the release). B. Which (The media selection). C. How (The coordination in media planning). D. How much (The budgetary allocation). 13 7. 9 MEDIA SCHEDULING: The company can follow a steady schedule or a pulsed campaign. Normally scheduling is done for a 4 week period. The six types of schedules available are: 1 .

Steady pulse: The simplest of all the methods which involves one advertisement per week for 52 weeks or one ad/month for 12 months. This will be decided by the company of how they want to promote their product which also depends on the targeted audience. 2. Seasonal pulse: By the name itself it is clear that this is being done for the products which comes on seasonal bases. Products like Vicki balm, ponds cold cream follow this approach. 3. Period pulse: The scheduling which follows a regular pattern for showing their advertisement. This is mainly done for consumer rubbles, non durables etc. 4.

Erratic pulse: The advertisements are placed irregularly. This happens when the company wants to change typical purchase cycles. 5. Startup pulse: It is concentrated media scheduling. It launches a new product or a new campaign. 6. Promotional pulse: This helps the company to promote their product. This is usually one time affair. Let us now find out how is the scheduling decision made. Once it is decided by the company about how to advertise and where to advertise then the company decides when to advertise. After this the company now sees its budget and then decide how ill they spend their entire amount of budget.

They then decide should all the months receive equal amount of money or should some months receive more amount of money. For this there are three methods involved Continuity Scheduling which means that the amount is to be equally distributed in all the months. This method ensures steady brand exposure over each purchase cycle for individual consumers. It also gives the company of volume discounts in media buying. But since it requires heavy expenditure hence not recommended for small advertisers. 14 Flight Scheduling which means that the company will spend heavy amount in some months and less amount in other months based on their strategy.

This is done to save the budget as the company thinks that if they spend more on a particular month then the impact of the advertisement will long last on their mind and hence they can afford to spend less on other months. Pulse scheduling combines the first two scheduling methods, so that the brand maintains a low level of advertising across all months but spends more in selected months. This is mainly done for those products which come on seasonal bases. 7. 10 CONSTRAINTS: The objectives are controlled by the budget available for Advertising.

In the beginning, a significant amount is available; but at the later stage of the product life cycle, only a small proportion is allocated to advertising. The effect of budgeting on advertising has been acknowledged by every organization. The positioning of the product also influences the objectives. If the producer is willing to challenge the leader, he will spend more money on advertising. The range, Frequency and continuity will be effected by budget and positioning of the product. 7. 11 About Television Media – Television is a very important source of media now as it helps in promoting the product more effectively and faster.

Many players in the television industry are now offering their content online in the video format and charging the users for the same. Mainly the news channels like .NET, SAA Take, etc use this platform to deliver the content and it is a very sound business model for them. At the same time some select portion of a particular event or program is available online free. For example, select clippings of ‘Performances’ in the Flimflam Awards were available free on their website. Thus we can see the effectiveness of television media and so the mode which has been adopted by the Line company is also through elevation 15 INDUSTRY BACKGROUND 8. As we know that the trend in the Indian Market is changing at a very fast span. Therefore it is equally important for all the organization to adopt with the changing trend. The Indian Pen Industry is also changing with the current trends. 8. 2 Indian consumers’ psychology is slowly turning out to be brand loyal than the old conventional market which used to live on substitute or counterfeit goods. Most of the domestic players have strategic alliances with global players. The strategic alliances can be for strategic reasons like Marketing arrangements, technology earners and tapping export markets.