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OCC Marketing 130 > Test 3 > Flashcards

Test 3 Flashcards

1
Q

What are the steps in the media planning process (6)?

A

Identify media
Assess costs
Measure yield
Assess timing
Evaluate media prior to usage
Evaluate results

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2
Q

Explain how media is identified?

A

The germinal phase is used to brainstorm and identify all mediums and vehicles available
2 types of identifying media

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3
Q

Traditional

A

A vehicle currently used by competitors or in other industries
Not unique, not a new technique

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4
Q

Non Traditional

A

A vehicle not being used by competitors
Can be used in other industries or
Nobody is using it anywhere

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5
Q

Explain how costs are assessed

A

Investments decisions made into ads that will generate revenue
Most cost effective way to spend the budget

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6
Q

What are the 4 investments of assessing costs

A

Basic investment
Production investment
Frequency investment
Follow up investment

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7
Q

Basic investment

A

What the medium is going to charge per insertion
The cost everytime an ad appears

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8
Q

Production investment

A

How much does it cost to produce the ad

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9
Q

Frequency investment

A

How much is it going to cost every time the ad is run?
Short term vs. long term

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10
Q

Follow up investment

A

What are the costs associated with closing the sale
Costs incurred to fulfill the order: shipping, processing, free samples, bogo

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11
Q

Explain the concept of measuring yield

A

What is the return on the ads investment
Tracking the effectiveness of the campaign

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12
Q

Explain the concept of assessing timing

A

When is the best time to expose the products message to the target market

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13
Q

Explain how media is evaluated prior to usage

A

Make certain media kits are accurate and reliable
Calculate the tangible and intangible factors

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14
Q

Explain how results are evaluated

A

Campaign is launched if everything makes sense

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15
Q

What is media planning?

A

The process of determining what the most cost effective and convenient vehicle to convey the products message to the targeted audience

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16
Q

What are some major mediums?

A

Electronic / digital
Outdoors
Point of purchase
Mail
Publicity
Trade shows / conventions

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17
Q

What is direct response advertising?

A

To figure what the direct response to an ad was
Proves that the ad was accountable
How to know if an ad is working

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18
Q

What are some examples of direct response advertising?

A

Promo codes
Analytics
Manufacturer’s coupon
Mention this ad

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19
Q

What are some types of ways to measure yield (4)?

A

Cost per lead
Cost per qualified lead
Cost per initial sale
Cost per total sale

20
Q

Cost per lead

A

Someone who makes an inquiry

21
Q

Cost per qualified lead

A

Best lead that wants to buy your product

22
Q

Cost per initial sale

A

Money spent to get a customer to buy a product

23
Q

Cost per total sale

A

The cost to have a customer come back and buy more than once

24
Q

What are 3 aspects of assessing timing

A

Aperture
Psychographic pivots
Trading seasons

25
Q

Assessing timing, what is aperture?

A

Analyzing when people most likely to buy and when is the best time to get the best return on an ad spend

26
Q

Assessing timing, what are psychographic pivots?

A

Any event or occurrence that increases or decreases a desire to buy as a result of that event
Holidays, seasons

27
Q

Assessing timing, what are trading seasons?

A

Periods of time when consumers are more or less likely to buy

28
Q

What are the best and worst trading seasons?

A

Best: Black Friday & January
Worst: Summer

29
Q

What is a spread strategy?

A

The marketing budget is spread around through different times of the year

30
Q

What is a pour strategy?

A

The majority of the marketing budget is spent during peak periods or during slow periods

31
Q

What does research show about the pour strategy?

A

Pouring on the spending during peak consumer spending periods yields the best results

32
Q

What is CPM?

A

Cost per message

33
Q

What is the cost per thousand?

A

The cost of an ad to reach 1000 people

34
Q

What is the formula for CPM / Cost per thousand

A

Ad cost / potential reach x 1000 =

35
Q

What is the formula for net relevant reach?

A

(Gross reach + pass along rate) x net relevant reach as a percentage =

36
Q

How is the pass along rate calculated?

A

Gross reach x pass along rate =

37
Q

What is the difference between tangible and intangible factors of measuring the effectiveness of a medium?

A

Tangible factors are quantified and have a mathematical value
Intangible factors are qualified and must be considered

38
Q

What are some tangible factors?

A

Cost per 1000 to reach
Net relevant reach

39
Q

What are some intangible factors (7)?

A

Is the medium controlled or paid
Influence of the medium
Mediums editorial policy
Readership / viewership
Spillover
Flanker commodities
Where’s your best shot

40
Q

Controlled vs Paid

A

More likely to watch an ad through a paid for medium
May not pay as much attention to an ad through a controlled medium

41
Q

Influence of the medium

A

Does the medium influence viewers of an ad
Will the medium make the product seem more or less credible

42
Q

Editorial policy

A

What do viewers use the medium for?
Newsworthy or noninformative

43
Q

Readership / viewership

A

How intently will consumers be viewing or listening to the ad’s message

44
Q

Spillover

A

Will the medium or vehicle spillover favorably or not to the ad’s product

45
Q

Flanker Commodities

A

Should companies advertise with competitors or against them
Better product, price or strong USP = then compete

46
Q

Where’s your best shot?

A

Where is the best spot for the ad
Where are consumers most likely to see it

OCC Marketing 130 (1 decks)

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