Advertising management

Advertising Management Advertising is any paid form of non- personal 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 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 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