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Advertising and Promotion

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Advertising and Promotion (MKT621)
VU
Lesson 11
ADVERTISING BUDGET
LECTURE OVERVIEW
This lecture will cover in detail the advertising budget; the approach required to work out a
practical and workable budget. The information regarding advertising with special reference to
implementation and evaluation will be discussed.
ADVERTISING BUDGET
4 Methods to determine
·
AFFORDABLE RATE.
·
PERCENTAGE OF SALES METHOD.
·
COMPETITIVE PARITY METHOD.
·
OBJECTIVE & TASK METHOD.
ADVERTISING BUDGET
Two Approaches to Decide Budgets
Top - Down Approach
Management decides
Activity based &
how much to spend
objective oriented
Affordability approach
approach by managers
Ignores market reality
Bottom ­ Up Approach
ADVERTISING - IMPLEMENTATION & EVALUATION
·
Deals with campaign's specific tactics.
·
Specifies about activities to be undertaken.
·
People responsible for these.
·
Time schedules.
·
Budget availability.
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Advertising and Promotion (MKT621)
VU
Advertising manager to find answers...
·  WHAT IS TO BE DONE?
·  WHO WILL DO IT?
·  WHEN WILL IT BE DONE?
·  HOW WILL IT BE DONE?
REMEMBER:
"Success is in details"
ADVERTISING RESEARCH
3 Critical Decisions!
1.  SETTING OBJECTIVES.
1.  SELECTING THE METHOD.
1.  CHOOSING APPROPRIATE MEDIA.
4 CHOICES to be made.
1.  WHAT PROGRAMME?
1.  WHAT DAYS OF THE WEEK?
1.  WHAT TIME OF THE DAY?
1.  HOW MANY TIMES?
AT LEAST
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·  Helps in appropriate positioning decision for the brand.
·  Helps in selecting target markets.
·  Find acceptability of creative ideas.
·  Pre -- testing of ads.
·  Post ­ testing of ads.
ADVERTISING RESEARCH OBJECTIVES
Advertiser should find out:
·  Who are the customers?
·  Who are the customers?
·  What are the likes & dislikes of customers?
·  How is company's brand perceived?
·  How to improve customer's perception?
ADVERTISING RESEARCH PROCESS
STEPS to collect relevant information:
·
PROBLEM DEFINITION.
·
EXPLORATORY or INFORMAL RESEARCH.
·
DETERMINING RESEARCH OBJECTIVES.
·
RESEARCH DESIGN:
Sampling methods & size.
Scaling.
Data collection method.
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Advertising and Promotion (MKT621)
VU
·  DATA COLLECTION.
·  DATA TABULATION & ANALYSIS.
·  INTERPRETATION CONCLUSION & REPORTING.
ADVERTISING RESEARCH COMPONENTS
Advertising Research
STRATEGIC
EVALUATE
ADVERTISING RESEARCH COMPONENTS
STRATEGIC
Strategy
Organization
Data collection
Document
Research
(Creative brief)
Secondary
Primary
·Marketing
·From
·Published
Data obtained
objectives
studies
to be compiled
·Product
source
conducted
as quantitative
·Government
·Target audience
by agency
& qualitative
·Internet
on specific
Information
·Benefits
issue.
·Trade Assoc.
·Brand
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Advertising and Promotion (MKT621)
VU
ADVERTISING RESEARCH COMPONENTS
EVALUATIVE
Mid- Campaign
Pre-Campaign
Post-Campaign
· Coincidental
· Check return
· Define theme
surveys
· Compare & measure
· Pre-test ad.
· (assess
· achievement of
· Media
effectiveness)
· objectives.
Schedule.
· Attitude tests.
· Tests In market
Actual behavior
· Brand tracking
· Direct response.
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Table of Contents:
  1. INTRODUCTION TO ADVERTISING:Its growing importance, Explanation of Personal and non-personal selling
  2. INTRODUCTION TO ADVERTISING:ADVANTAGES, Communication, Information, Various Media
  3. INTRODUCTION TO ADVERTISING:FUNCTIONS OF ADVERTISING, IMPACT OF ADVERTISING
  4. ADVERTISING AND SOCIETY:PRACTICAL BENEFITS, ETHICS IN ADVERTISING, Marketplace & Market space
  5. MARKETING TOOLS:COMPONENTS OF MARKETING MIX, PRODUCT LIFE CYCLE (PLC) CURVE
  6. MARKETING TOOLS:SWOT Analysis, Contents & Structure, ROLE & FUNCTION OF ADVERTISING
  7. ROLE AND FUNCTIONS OF ADVERTISING:Structure of an Advertising Agency, How to Select an Advertising Agency
  8. ADVERTISING PLANNING:ADVERTISING OBJECTIVES, Types of Advertising, Positioning Strategies
  9. POSITIONING:BRANDING, 7 Steps of Creative Process, UNIVERSAL ADVERTISING STANDARDS
  10. ADVERTISING MESSAGE:Message Content, BASIC TERMS & CONCEPTS
  11. ADVERTISING BUDGET:4 Methods to determine, ADVERTISING RESEARCH, ADVERTISING RESEARCH
  12. ADVERTISING REACH:BROAD COMMUNICATION OBJECTIVES, ADVERTISING COPY METHODS, MEDIA RESEARCH
  13. PRE – PLACEMENT EVALUATION:ACCOUNT PLANNING, MARKET, COMPETITION
  14. WORKING OF ADVERTISING:12 Steps to develop effective campaign, SOURCE or THE ADVERTISER
  15. ADVERTISING RESPONSE HIERARCHY MODELS:AIDA MODEL, PROCESS REQUIRED TO GET BIG IDEA
  16. PROBLEM SOLVING STRATEGIES:Procedure to Handle Problems, In brief, Eight principles apply to consumer behavior
  17. CONSUMER BEHAVIOUR:ADVERTISING APEALS, MEDIA MIX DECISIONS, Target Rating Point (TRP)
  18. CREATIVITY IN ADVERTISING:Three aspects are most accepted, Four Rules of Creativity
  19. COPY WRITER:CHARACTERISTICS OF COPYWRITER, IMPORTANCE OF LANGUAGE
  20. WHY ADVERTISING:Advertising & Market Education, ADVERTISEMENT CAMPAIGNS
  21. METHODS TO APPRECIATE A PROBLEM:SPONSORSHIP—an important tool, Special Characteristics
  22. IMPORTANT TOOL OF ADVERTISING:TELEVISION ADVERTISING, TRANSIT ADVERTISING
  23. ONLINE ADVERTISING:Banners, Logos, Email Ads, Keywords on Search Engines, New Developments
  24. ONLINE ADVERTISING:Structural Challenges, Adobe Photoshop, JAVA, HTML, DHTML, ASP & JSP
  25. SALES PROMOTION:Consumer Oriented Promotion, HOW TO USE TRADE PROMOTION, Dealing with the Trade
  26. PUBLICITY:PERSONAL SELLING, ROLE OF SALES PERSON, FUTURE OF GLOBAL ADVERTISING
  27. MARKETING ENVIRONMENT:Competitors, The Target Buyer, Segmenting your Market, FUTURE OF MARKET GROWTH
  28. MARKETING PLAN:Situational Analysis, Macro – Environment Situation, Marketing Objectives, Financial Objectives
  29. MARKETING PLAN:PROMOTING BUSINESS IN LOW COST, SUPPLY CHAIN, BUYER IDENTIFICATION
  30. HOW TO BE GOOD CLIENTS:CHANNEL BUYERS, HOW TO BE GOOD CLIENTS 14 RULES
  31. CLIENT – AGENCY RELATIONSHIP:HOW TO KEEP CLIENTS (10 Ways), Three Points for Consideration
  32. CLIENT – AGENCY RELATIONSHIP:ADVERTISING WITHOUT AN AGENCY, LOGO AND CORPORATE IDENTITY
  33. NEWSPAPER ADVERTISING:AD PRODUCTION,TYPES OF NEWSPAPER ADS, CIRCULATION
  34. OTHER ADVERTISING MEDIUM:HOW TO USE MAGAZINES, HOW TO USE RADIO, Daypart buying options
  35. UTILITY OF VARIOUS MEDIA:TAPE OR FILM, UTILITY OF TV, DIRECT MAIL PACKAGE
  36. OTHER ADVERTISING MEDIA:POINT OF PURCHASE (POP), TRANSIT ADVERTISING, LIMITS OF ADVERTISING
  37. CONTINUOUS TRACKING:PLANNING CAMPAIGN, HOW TO UNDERSTAND ADS, ASK BASIC QUESTIONS
  38. SEASONAL ADVERTISING:MAXIMIZING IMPACT, THE WEB ADVERTISING, MEASURING ADVERTISING
  39. COMPONENTS OF ADVERTISING:BUY - OLOGY OF MIND, BUY - OLOGY OF MIND
  40. CRITICISM ON ADVERTISING:SHOULD ADVERTISING BE ABOLISHED,
  41. EFFECT OF ADVERTISING:HOW TO PROMPT AWARENESS, CREATING DESIGN THAT SELLS
  42. CREATING EFFECTIVE DESIGN:LANGUAGE OF TYPOGRAPHY, HEADLINES THAT COMMUNICATE
  43. WORKSHEETS:DEMOGRAPHICS OF YOUR TARGET, YOUR COMPETITOR
  44. GLOSSARY OF ADVERTISING:ACCOUNT EXECUTIVE, PROOF, VOICE OVER
  45. CONCEPT OF AN AD:HOW TO DEVELOP A CONCEPT OF AN AD