W3: Amazon (2021b). What is a media mix and why is it important? Flashcards
What is a media mix?
A combination of communication methods for brands to reach their target audiences, involving product, people, place, promotion, and price.
Why is a diverse media mix important for brands?
It prevents reliance on a single advertising method, helps balance overall ROI, and allows for testing new campaigns.
What is media mix modeling?
A technique used to predict media performance based on historical data and factors like seasonality, involving data gathering and analysis for strategic budget allocation.
What does media mix optimization involve?
Analyzing message resonance with customers and determining the best combinations of marketing methods for optimal results.
How does digital advertising enhance the marketing mix?
Digital advertising offers measurable results, cost-effectiveness, and the flexibility to modify content, making it a valuable component of the marketing mix.
