Media Company
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A Media Plan is a blue print for Action.
1.) What are the marketing objectives and strategies? (Previously
provided to you)
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2.) Based on what you know and the information you have been given or
uncovered or discussed in your groups; provide your Media Objectives
below: ( Remember there is no perfect Media Plan but there are some
plans that are better than others.
Media objectives are goals that are come out of the marketing objectives
and strategies provided to you by Homevestors. Your marketing
objectives should define the media goals.
Each media objective should relate to a marketing objective and or
strategy.
Each media objective should be stated as completely and specifically as
possible.
Media objectives must be positive, action oriented statements
representing an extension of the marketing objectives.
Examples:
-Reach at least 80% of the potential market within the first month of
advertising, ensuring that the average consumer will be exposed to a
minimum of 4 advertising messages. (Remember Reach x Frequency
=GRP’s…i.e. 80 reach x 4 frequency = 320 GRP’s)
-Direct advertising to current and potential customers by weighting
current customer characteristics 60% and potential customer
characteristics 40%.
To arrive at an objective you must ask if the product needs high levels of
advertising that command consumer attention (new products) or
sustained advertising. (Established brands) Should media efforts be
targeted to current customers or non customers? Should frequency be
high or low?
Competitive activity needs to be understood (remember the marketing
objectives and the SOV that your company worked on) Which media are
being used? How often? Are there untapped media? Should spending be
increased/decreased in certain areas?
Address: Audience, geography, scheduling requirements, copy needs
and reach and frequency. Examples:
Audience-Who do you want to reach? What is the relative importance of
each group?
Geography-What market are you covering? Are there certain
neighborhoods, counties that should be considered more than others?
Do you want to advertise where the business is or where the business is
not?
Scheduling-Are there any seasonal considerations? How important is
introductory vs. sustaining periods? Should competitive advertising
efforts be countered? Clear direction is shown in statements like “Spend
advertising dollars in accordance with monthly budgets as allocated by
Homevestors.”
Copy-What are the copy lengths of the creative provided?
Reach and Frequency- What Reach level is needed? How much Frequency
is required? Should Reach and Frequency levels vary by month or by
quarter or not at all?
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3.) Based on what you know and the information you have been given or
uncovered or discussed in your groups; provide your Media Strategies
below:
Which media will be used? Why?
How often will each media be used?
How much of each media will be used?
During which periods of the year?
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4.) Based on what you know and the information you have been given or
uncovered or discussed in your groups; provide your Media Tactics
below:
Media Tactics: The implementation of the plan
Examples: What dayparts in radio will be used? What dayparts in TV will
be used and at what % by daypart? Do you have any strategies for impact
(i.e. roadblocking, advertising certain days of the week) What size
outdoor boards will be used and will there be certain areas covered more
than others? How much direct mail will be used and when will it drop?
Will there be certain areas covered more than others? Do you have any
out of the box ideas for other out of home advertising?
Will certain media be used in combination with other media? (I.e.
Outdoor, TV, Radio, Direct Mail) Will you have different GRP levels during
the month or different GRP levels in certain months? Will you use pulsing
and special flighting?
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Create a Situational Analysis with your group that will be part of your
media plan document and presentation.
5. History of the market
(What are sales of houses like in the market of Phoenix? How can
you find out this information? What size/kind of market is this? (provided
by Homevestors in your leave behind) What else can you include on the
history of the market from the data you have been given or from
information obtained from Homevestors or the internet or other sources?
6. Distribution channels
How are houses sold in the market? Not just for Homevestors, but
for all competitors-(methods of selling) What is the advertising
allowance you have to work with?
7. The consumer of the product
What is the profile of the user of this product (who sells to
Homevestor’s and who sells to competitors? (Mom and Pop
operations). What are their age, race, occupations, buying habits,
what do they watch on TV, what do they listen to on radio, what types
of publications do they read, how do they spend their time. How and
when do people sell to Homevestors? (divorce, death, retirement,
etc.) What do you know about the buyer, the seller and the people
who motivate buyers and sellers of the product?
8. The product
Provide a history of the product- who is this client? What is
important to them? (example-they like to improve neighborhoods,
so people probably have a favorable impression of them for this, but
because they purchase for around .65 on the dollar, maybe people
have a negative viewpoint of them) Do research on the web, and
with the information you have been provided. This is going to be
included in your media presentation, so it needs to be as thorough as
you can make it.
9. Advertising and media analysis
provide an analysis of media expenditures not only for
Homevestors, but for their competitors. What dollars and %’s were
allocated to the various media? This is your Share of Voice data
10. Who in your company contributed to the answers provided?
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