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Stages of the product life cycle
Pioneering, Competitive, Retentive (steps are not linear)
Pioneering stage of the product life cycle
Introducing an idea, create awareness, make consumers feel like they need the item
Competitive stage of the product life cycle
Acceptance of the product will attract competition, establish superiority over other brands, increase sales and market shares
Retentive stage of the product life cycle
products are reaching maturity and wide-scale acceptance, attract new customers and keep existing, maintain market share and consumer loyalty
Objective
The goal of the campaign and what you want to achieve
Strategy
The plan for reaching the goal and focuses on the overall messaging
Marketing objective
Focuses on what people do and their buying behavior
Advertising objective
Focuses on communicating and assists the marketing objective
Feature
A characteristic of a product
Benefit
a good thing made possible by the feature. we can all have different benefits based on the same feature
1st part of strategic planning
Brand equity audit analysis: what/where is our brand now
2nd part of strategic planning
Strategic options and rec.: how do we change our brand to achieve our goals
3rd part of strategic planning
Brand equity research: what specific aspects of the brand do we want to change
4th part of strategic planning
Creative brief: what is our resulting plan of action
Strengths of OOH advertising
low cost, high frequency, local, strong creative, support other media, provides missing visual for radio campaigns, better graphics than newspaper, high frequency than magazine
Weaknesses of OOH advertising
exposure is voluntary, brief, viewers normally preoccupied, few premium sites, visual pollution, weather and geographical considerations
Daily effective circulation (DEC)
the average number of people in cars (or other vehicles) passing and being potentially exposed to an ad display
OOH GRP calculation
(total DEC for allotment/total market population) x 100
*total DEC for allotment = DEC for each ad x number of ads
OOH GI calculation
GRPs x DEC x (weekly (7), monthly (30), etc)
OOH $ per 1,000 GI calculation
total cost of allotment/(GIs in allotment/1,000)
*total cost of allotment = number of ads x how much they cost
$ per GRP calculation (can be used for all)
total cost of ____ /GRPs
*blank space can be total cost of allotment, print space, ads, bought, TV buys)
Strengths of Newspapers
High reach with older, upscale, opinion leaders, which can be a desirable target market; immediacy aka. next day publication; credibility
Weaknesses of Newspapers
Clutter, declining readership, increasing cost of advertising, challenges from online, nobody wants to pay for news anymore
Categories of newspapers
Classified and Display (all non classified advertising)
Display forms
Local (retail) businesses: advertising by a merchant who sells directly to the consumer
National advertisers: advertiser of a trademarked product or service, can be sold through different outlets
Co-op: partnership between local retailer and national brand
Flat rate buying type
no discounts, uniform charge regardless of space bought
Open rate buying type
discount structure, also refers to the highest rate against which all discounts are applied
The two types of open rate buying
Bulk: advertiser is charged less as more space is purchased
Frequency: advertiser is charged less as more insertions are purchased
Strengths of Magazines
Segmenting, strong visuals, long life
Weaknesses of Magazines
Cost, clutter, long lead time, difficult to reach large audience segments
Newspaper reach calculation
(total circulation/target market population) x 100
Newspaper and magazine CPM (cost per thousand) calculation
(cost of space x 1,000)/circulation
Newspaper and Magazine GRP calculation
reach x number of ads bought
Magazine weighted CPM calculation
(cost of space x 1,000)/circulation in your target market
Strengths of TV
High reach (99% of all households), creative flexibility, delivers to large national markets, can deliver to national niche markets
Weaknesses of TV
Clutter, audiences are smaller and fragmented, viewers avoidance, cost, brief message, media multitasking, less people are using cable
Categories of TV
Network: National advertisers buy time from national networks
Cable: national advertisers buy time from cable providers and then place the ad on a specific show on a specific channel
*within these, there are Spot networking/cable, which just means it is limited to one specific area (ex. ATL, NYC, etc)
Rating
Has to do with size, aka how many people are watching
Share
has to do with popularity, aka how many people are watching this show at this time
TV rating calculation
(program’s audience/total TV households) x 100
*TV household: a residence with at least one TV in it
TV share calculation
(program’s audience/total households using TV) x 100
*Household using TV (HUT): houses using a tv at that period of time
TV GRPs calculation
rating x number of spots bought
TV GI calculation
program’s audience x number of spots bought
TV $ per GI
total cost of TV buys/GI
Digital and Internet advertising spending
Outpaced TV for the first time in 2017, only area to see consistent and substantial growth
In-game advertising
inclusion of products or brands within an existing digital game for entertainment purposes
Social network game
Placement of brands or products in digital games that are played via major social network sites
Advergames
games specifically designed and created to promote a brand, product, or service
Prominence in digital/internet advetising
depends on location, frequency, and size of the advertising; you want something not too subtle, but not too invasive
Congruity in digital/internet advertising
game environment and the brand/advertising should match up; context is important
Note 
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