Media Advertising Decisions29/08/2022
Marketing management must make four important decisions when developing an advertising program these four important are as follows:
- Setting advertising objectives
- Setting advertising budget
- Developing advertising strategy
- Evaluating advertising campaign
Setting Advertising Objectives: The first step is to set advertising objectives. These objectives should be based on past decisions about target market, positioning and marketing mix, which define the job that advertising must do in the total marketing program advertising is a specific communication task to be accomplished with a specific target during a specific period of time. Advertising objectives can be classified by primary purpose-where the aim is to inform persuade or remind.
|Possible Advertising Objectives
|Telling the market about a new product Suggesting new uses for a product Informing a price change market.
|Describing available services Correcting false impressions Reducing buyers’ fears.
|Explaining how the product works.
|Building a company image.
|Building brand preference.
|Persuading buyers to purchase now.
|Encouraging switching to your brand Changing buyer perceptions of product attributes.
|Persuading buyers to receive a sales call.
|Reminding buyers that the product may be needed soon.
|Keeping the product in buyers’ minds during off-seasons.
|Reminding buyers where to buy the product.
|Maintaining top-of-mind product awareness.
- Setting Advertising Budget: After determining its advertising objectives the company next sets its advertising budget for each product. A brand’s advertising budget depends on its stages of product life cycle. Market share also impacts the amount advertising needed. Because building the market or taking share from competitors requires larger advertising spending than does simply maintaining current share, high share brands usually needs more advertising spending as a percentage of sales.
Specific factors that should be considered when setting the advertising budget; these factors can be stated as under :
- Stage in the Product Life-Cycle: A product in the introduction stage needs large advertising budgets to create awareness and gain consumer trial. In contrast, products in the maturity stage usually require lower budgets as a ratio to sales.
- Market Share: Brands that enjoy high-market share need more advertising budget as a percent of sales than low-share brands. Building the market or taking share from competitors requires larger advertising budgets than simply maintaining the current share.
- Competition and Clutter: In a highly competitive market where advertising spending is also large, a brand should be advertised heavily to attract buyers.
- Advertising Frequency: The advertising budget must be larger in a situation where advertising frequency is higher.
- Product Differentiation: A brand that closely resembles other brands in its product class requires heavy advertising to maintain its distinctive image. If the product differs significantly from competitors, advertising can be used to project the differences to consumers.
- Developing Advertising Strategy: Advertising strategy consists of two major elements:
A) Creating advertising message
B) Selecting advertising media
In the past companies often themed media planning as secondary to the message, creation process. These creative departments first created good advertisement then the media department selected first created good advertisement then the media department selected the best media for carrying these advertisements to desired target audience.
- Evaluating Advertising Campaign: It is the last step in major decision of advertising. In this stage evaluate the message of advertising. How much people get attention on the message of advertising. Its market covering capacity, style, tone, words and format etc are evaluated in this stage.