Decision Making Variables for Selection of Media Options CHOOSING RIGHT MEDIA OPTION Before choosing any media for advertisement, few things need to be analysed since there are so many different variables that can affect the results of an advertising campaign. Q1:Do u want an advertisement designed to have a lasting psychological effect or high impact on consumers? Q2: Which medium is best for making consumers aware of special discount or special sale? Q3: Are u trying to create a picture of your product in consumers mind? Q4: Do u want to advertise your product only in a small region? Q5: Do u want to advertise for B2B(business to business) or B2C (business to customer). Q6: Are u selling your product through retailer or do u want a consumer to make a direct purchase from you? RANKINGS OF DIFFERENT MEDIAS BASED ON CERTAIN PARAMETERS PARAMETER 1:RELATIVE IMPACT OF DIFFERENT ADVERTSING MEDIA RANK 1: DIRECT MAIL It has the highest impact of any medium. The message reaches each recipient in a personalized way and at the same moment they have chosen to consider message. RANK 2: TELEVISION It provides an opportunity to speak to a captive audience. In fact, television viewers are more likely to view an advertisement. RANK 3: ONLINE ADS With the help of data mining, advertisers may get to know about the consumer interests.This helps them to advertise certain product for particular consumer who may be interested in that product. RANK 4: RADIO In this case,the listener is captive to the message unless they switch the radio off. RANK 5: OUTDOOR AND TRANSIT ADVERTISEMENTS They are really very hard to avoid viewing. Though it is highly visible, no one spends any significant amount of time reading them. They are useful for simple messages. RANK 6:MAGAZINES They provide a slightly better opportunity to catch attention of the reader. Readers tend to focus on magazines more carefully than newspapers and because of the fact that magazine ads are placed fewer per page, the probability of viewing an ad by reader is higher. RANK 7:NEWSPAPERS Newspapers carry many ads due to which it may get lost in the visual clutter. PARAMETER 2:PRICE ADVERTISING Price advertising is used when a benefit is offered to potential customer which is based on price points such as special sales, discount rates etc. RANK 1:ONLINE ADS This is one of the best and quickest way to inform prospective customers about special discounts and other schemes. RANK 2:NEWSPAPER Newspapers is one of the best media if you are informing a mass audience about short-term sale or special price offer for a product or service. Newspaper readers tend to look through the paper for specials. RANK 3:RADIO-Radio is also used for price advertising but its effectiveness is dependent on the recognition of a particular good or service. RANK 4:TELEVISION Television is an expensive media for price advertising. This media can be considered in case advertiser wants to advertise image advertising too. RANK 5:DIRECT MAIL If you have access to a highly responsive customers only then his media should be used. RANK 6:MAGAZINES Magazine doesn’t provide immediate access to the audience which may undermine the legitimacy of a special pricing offer which may be valid for very limited period of time. RANK 7:OUTDOOR AND TRANSIT DISPLAYS Outdoor and transit displays are one of the worst medium for price advertising. PARAMETER 3:IMAGE ADVERTISING Image advertising is used when the primary advertising goal is to create company, brand, or product awareness among a group of consumers which makes them to purchase that good or service. RANK 1:TELEVISION Television is the best medium for image advertising. The visual action along with audio allow viewers to feel involved with television. RANK 2:MAGAZINES Magazines are not as effective as television as a medium for an image advertising campaign but they are a strong contender, though.The use of colour photography is especially effective in magazine print advertising. RANK 3:ONLINE ADS They are also effective media in terms of image advertising but not as effective as above medias. RANK 4:OUTDOOR AND TRANSIT DISLAYS: Outdoor and transit displays are also dependent on powerful images to convey message. They can be used for simple image advertising messages. RANK 5:RADIO Radio is significantly less effective than magazines and television when used for image advertising. RANK 6:NEWSPAPER Newspapers are not always an effective medium for carrying an effective image ad because of poor graphics. RANK 7:DIRECT MAIL Direct mail can be a very tricky medium to use for image advertising. PARAMETER 4:LOCAL SERVICE ADVERTISING Local service advertising is used when a service is offered to consumers in a specific local regional area. RANK 1:YELLOW PAGES Yellow Pages are the most cost effective local service advertising medium for many areaspecific service businesses. RANK 2:NEWSPAPERS Newspapers offer a highly effective format for advertising locally available services. Localized papers often run a directory of area trades people that readers automatically turn to in search of services RANK 3:DIRECT MAIL: Direct mail is a highly effective medium for developing local service trade. The expense involved in implementing a direct mail campaign involves high cost. RANK 4:TELEVISION Television certainly has impact, but this will be far outweighed by its expense. But thelocal cable stations may be an avenue worth exploring if you are trying to zero in on a particular town where you expect response to your advertising will be high. RANK 5:RADIO Radio is not that good for local service business advertising. It should be used as a last resort if other mediums haven’t panned out for you. RANK 6:OUTDOOR AND TRANSIT ADS Outdoor and transit ads are best left to image ads. RANK 7:ONLINE ADS For local coverage,online ads are waste of money. PARAMETER 5:B2B Advertising While business-to-business marketing efforts should be centered on sales or telemarketing programs, advertising can play an important role in a successful sales effort. It can help you develop leads that you can follow up on with a phone call, and it can increase the chances that your sales-people will have their phone calls accepted or returned. RANK 1:DIRECT MAIL Direct mail allows you to target an audience comprised of those businesses most likely to respond favourably to your products or services. RANK 2:ONLINE ADS It is one of the widely used media for B2B advertising as these ads can be placed on the websites commonly used by target businesses. RANK 3:MAGAZINES Magazine advertising in trade-specific publications that cater to your industry can be effective. RANK 4:RADIO Radio can be decent choice for business-to-business advertising. It can be effective, however, if you find a business-only station with a heavy concentration of listeners who are business people. RANK 4:YELLOW PAGES Yellow Pages can be a wonderful venue, and even the best choice, for a few business-to-business companies in the service sector, but is totally inappropriate for most others especially productbased businesses. RANK 5:NEWSPAPERS Newspapers aren't generally used as high-impact vehicles for business-to-business advertising. One obvious place to advertise in newspapers is in the business sections of both local and national general and business newspapers. RANK 6:TELEVISION Television may work fine for huge national business-to-business advertisers like airlines, but is unlikely to work for smaller businesses. RANK 7:OUTDOOR AND TRANSIT ADS Outdoor and transit displays have scant applicability in business-to-business advertising. PARAMETER 6:DIRECT RESPONSE ADVERTISING Direct response advertising is used when you want to prompt an immediate response from potential customers. RANK 1:DIRECT MAIL Direct mail is obviously a good first choice if you are trying to sell a product directly to consumers that is not available through retail outlets. RANK 2:ONLINE ADS With the advent of e-commerce, some ads may catch the eye of prospective consumers. They may take a decision to buy a product at that very moment. RANK 3:TELEVISION Television is also a good choice. Television is, of course, a high-impact medium, but it is very expensive. It is no coincidence that most direct response ads you view on television run on weaker networks or local access channels during nonpeak viewing hours. RANK 4:MAGAZINES Magazines work well if your industry has a specialty publication that allows you to target a specific audience. It would be very tough to make a direct response ad work in a general magazine. RANK 5:NEWSPAPER Newspapers aren’t particularly effective venues for direct response advertisers. RANK 6:RADIO Radio can be used, but isn’t recommended. Very few listeners are likely to copy down product or ordering information. RANK 7:OUTDOOR AND TRANSIT ADS Least effective . SUMMARY PARAMET ER RELATIVE IMPACT RANK1 Direct mail RANK2 RANK3 Televisi on Online advertis ement RANK4 RANK5 RANK6 RANK7 Radio outdoor and transiet display Magazin e Newspap er Direct mail Magazin e outdoor and transiet display Radio Newspap Direct er mail Price advertising Online advertis ement Newspa per Radio Television Image advertising Televisi on Magazin e Online advertis ement outdoor and transiet display Local service advertising Yellow pages B2B advertising Direct mail Newspa per Online advertis ement Direct mail Online advertis ement Direct response advertising Direct mail Television Radio outdoor and transiet display Magazin e Radio Yellow pages Newspap Televisio er n Televisi on Magazine Newspape r Radio Online advertise ment outdoor and transiet display Some Examples of Media Options Choose Decision: Radio Advertising: Advantages and disadvantages of Radio Advertising: Advantages: From radio we can choose whom to reach (like teenagers, families, men, etc) and choose a format (news, talk, rock, etc) according to it. The vast options of radio program formats offers us to target customers very efficiently. An advertisement on radio is less expensive than an advertisement on TV and much easier to produce. Radio Advertisement can be produced very quickly. We can select the station and time when our advertisement will run. Hence, we can make the target market hear it. For example, an automobile industry can run the advertisement during the morning and evening hours during which most people are in the vehicles. Radio advertisement generally uses sounds, voices and music to create an attention getting message. They can be more effective. Radio is an universal medium which is enjoyed by all sections of people during various time in a day. Disadvantages: Most people don’t listen to radio only at a time. They may be driving or making a dish or doing something at the same time. So, message given by radio might not be effective. Generally, listeners need to hear multiple times to retain the message delivered by Radio. So, the advertiser need to advertise the same thing multiple times and do it for a longer period. Also, there may be background noise. Listeners can’t hear the message again when he/she wants to. How to advertise at Radio: Advertisement in Radio need to make in such a way that we can give all the key point in a short span of time and also finishes it with a phone number (so that the listener can contact if needed). The pacing of the word spoken is also important. It should be like that everyone could understand it. Sometimes, repetition of important information is also important since people can be doing other things at the same time. We need to make proper schedule for when to telecast a particular advertisement. Cost Incur for Radio Advertisement: Two types of cost: a) Cost for producing the advertisement like script writing, etc. b) Cost for purchase the airtime to run the advertisement. Industries which can be interested in Radio Advertisement: Automobile industry (can advertise during morning and evening hours), Jewellery industry (can target home makers), Start-ups & New Malls (to inform the listeners of a particular place about it), etc. Cinema Advertisement: Advantages and Disadvantages of Cinema Advertisement: Advantages: Mainly young population go to the theatres. So, those companies which wants to target young audiences can effectively use this medium. The advertisement in cinema are retained in the minds of customers for a longer period of time because of stereo sound, good experience, etc. Cinema advertisers can take more narrative approach. Audiences cant opt out of viewing the advertisements. Disadvantages: The cost of advertisement at theatre are high. Sometimes, audiences can arrive late at theatres to avoid advertisement. Reasons for Cinema advertising: Most people come to theatre earlier and they don’t have any other things to do. Then, they watch all the advertisement. The people in cinemas are often relaxed. So, they can understand the meaning of the advertisement. Big screen and stereo sound increases the retention of the audiences. Advertisements in cinemas are more clearer and beautiful. Industries which can choose Cinema Advertisement: Entertainment Industry, Launch of new product, Jewellery Industry, etc. Transit Advertising: Advantages and Disadvantages of Transit advertising: Advantages: It is very much helpful in building brand awareness. It reaches a very wide audience. Audiences can’t turn it off like radio, TV. Colour designs, bigger posters, eye catching stuffs can have high impact on audiences. It costs less. There will be repetition so the audiences can remember it for a longer time. We choose the locations and also the timings. Disadvantages: There is a limitation for usage of words. Generally, people on transit are not in receptive mood. They may ignore the messages. Many cities and towns don’t have bus services, etc. So, we can’t do transit advertising there. Vandalism can also occur. If it occur, then there will be losses. Bad weather can destroy the billboards, etc. Industries which can use Transit Advertisement: Political parties (for campaigns, promotions, etc), FMCG industry, Coaching institutes, etc.