Test 3

Question 1

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

Answer 1

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

Question 2

Explain how media is identified?

Answer 2

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

Question 3

Traditional

Answer 3

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

Question 4

Non Traditional

Answer 4

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

Question 5

Explain how costs are assessed

Answer 5

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

Question 6

What are the 4 investments of assessing costs

Answer 6

Basic investment
Production investment
Frequency investment
Follow up investment

Question 7

Basic investment

Answer 7

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

Question 8

Production investment

Answer 8

How much does it cost to produce the ad

Question 9

Frequency investment

Answer 9

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

Question 10

Follow up investment

Answer 10

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

Question 11

Explain the concept of measuring yield

Answer 11

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

Question 12

Explain the concept of assessing timing

Answer 12

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

Question 13

Explain how media is evaluated prior to usage

Answer 13

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

Question 14

Explain how results are evaluated

Answer 14

Campaign is launched if everything makes sense

Question 15

What is media planning?

Answer 15

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

Question 16

What are some major mediums?

Answer 16

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

Question 17

What is direct response advertising?

Answer 17

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

Question 18

What are some examples of direct response advertising?

Answer 18

Promo codes
Analytics
Manufacturer’s coupon
Mention this ad

Question 19

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

Answer 19

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

Question 20

Cost per lead

Answer 20

Someone who makes an inquiry

Question 21

Cost per qualified lead

Answer 21

Best lead that wants to buy your product

Question 22

Cost per initial sale

Answer 22

Money spent to get a customer to buy a product

Question 23

Cost per total sale

Answer 23

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

Question 24

What are 3 aspects of assessing timing

Answer 24

Aperture
Psychographic pivots
Trading seasons

Question 25

Assessing timing, what is aperture?

Answer 25

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

Question 26

Assessing timing, what are psychographic pivots?

Answer 26

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

Question 27

Assessing timing, what are trading seasons?

Answer 27

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

Question 28

What are the best and worst trading seasons?

Answer 28

Best: Black Friday & January Worst: Summer

Question 29

What is a spread strategy?

Answer 29

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

Question 30

What is a pour strategy?

Answer 30

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

Question 31

What does research show about the pour strategy?

Answer 31

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

Question 32

What is CPM?

Answer 32

Cost per message

Question 33

What is the cost per thousand?

Answer 33

The cost of an ad to reach 1000 people

Question 34

What is the formula for CPM / Cost per thousand

Answer 34

Ad cost / potential reach x 1000 =

Question 35

What is the formula for net relevant reach?

Answer 35

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

Question 36

How is the pass along rate calculated?

Answer 36

Gross reach x pass along rate =

Question 37

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

Answer 37

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

Question 38

What are some tangible factors?

Answer 38

Cost per 1000 to reach Net relevant reach

Question 39

What are some intangible factors (7)?

Answer 39

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

Question 40

Controlled vs Paid

Answer 40

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

Question 41

Influence of the medium

Answer 41

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

Question 42

Editorial policy

Answer 42

What do viewers use the medium for? Newsworthy or noninformative

Question 43

Readership / viewership

Answer 43

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

Question 44

Spillover

Answer 44

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

Question 45

Flanker Commodities

Answer 45

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

Question 46

Where’s your best shot?

Answer 46

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