Mcom weekly summary adv plans and print adv
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  • 1. Weekly Summary: Advertising Plans & Print Advertising<br />CLASS 1: ADVERTISING STRATEGY<br />DEFINITIONS:<br />advertising plan  The plan that directs the company's advertising effort. A natural outgrowth of the marketing plan, it analyzes the situation, sets advertising objectives, and lays out a specific strategy from which ads and campaigns are created.advertising strategy  The advertising objective declares what the advertiser wants to achieve with respect to consumer awareness, attitude, and preference; the advertising strategy describes how to get there. Advertising strategy consists of two substrategies: the creative strategy and the media strategy. creative strategy  A written statement that serves as the creative team's guide for writing and producing an ad. It describes the most important issues that should be considered in the development of the ad (the who, what, where, when, and why), including the objective of the advertising; a definition and description of the target audience; the key benefit to be promised; the product features that support that promise; the style, approach, or tone to be used; and, generally, what the copy should communicate.media strategy  A document that helps media planners determine how messages will be delivered to consumers. It defines the target audience, the communication objectives that must be achieved, and the characteristics of the media that will be used for delivery of the messages.<br />OTHER CONCEPTS:<br />Advertising Pyramid<br />Acquaint people with company, product, brand.Help people understand product’s purpose, image, position, features.Persuade people to believe in the product, its value.People want the product for themselves.People do something related to the product, such as request information, visit a store, buy the product. <br />Methods of Allocating Funds for Advertising<br />Market ShareObjective/Task% of Sales<br />Ad budget based on a % of last year’s sales, this year’s anticipated sales or a combination of the 2.Percentages vary by industry: http://adage.com/datacenter/datapopup.php?article_id=119881Ad budget based on % of market share. Example: Mtn Dew has 8% of the carbonated beverage market, so it should make up 8% of industry ad spending.Three Steps: Define objectivesDetermine strategyEstimate costFocuses on achievement of specific goals, like increase sales 10%.<br />CLASS 2: PRINT ADVERTISING<br />DEFINITIONS:<br />Media mix = the combination of media types that work together to most efficiently deliver an advertiser’s message<br />Bleeds = Colors, type, or visuals that run all the way to the edge of the magazine page<br />Rate base = the circulation figure magazine rates are based on<br />Guaranteed circulation = minimum copies a magazine publisher expects to be read<br />Delivered circulation = total number of magazines delivered to distribution outlets<br />Primary readership = number of people who buy the publication via subscription or newsstands<br />Secondary readership = pass-along readership, an estimate of how many people read an average magazine issue (derived from market research) <br />Column inch = the basic unit newspaper publishers bill for advertising units, one column wide x one inch tall.<br />Insertion order = A form submitted to a newspaper or magazine when an advertiser wants to run an advertisement. This form states the date(s) on which the ad is to run, its size, the requested position, and the rate.<br />Proof = a copy of the print ad to check for errors and corrections<br />Tearsheet = a page physically torn from a newspaper to provide verification of an ad run<br />OTHER CONCEPTS:<br />Skills for Selecting the Media Mix<br />Selecting the appropriate media mix for an advertiser requires 2 key skills:Understanding the unique characteristics of the media alternativesDetermining which media will most efficiently and effectively reach the campaign’s target market<br />Common Media Metrics<br />ReachFrequencyCPM (Cost per Thousand)How many people the medium reaches in a certain period of timeAverage number of times people are exposed to medium in a period of timeThe cost to reach a thousand people<br />Magazine Types: Content<br />Farm, Consumer, Business<br />Magazine Types: Reach<br />Local, Regional, National<br />Magazine Types: Size<br />Calculating the CPM for Magazines<br />Example: A magazine’s full-page rate is $10,000, and the publication has a circulation of 500,000. <br /> Page rate (Circulation  1000)= CPM $10,000 (500,000  1000)= $20<br />Newspaper Types: Frequency<br />Daily, Weekly<br />Newspaper Types: Size<br />Standard, Tabloid<br />Newspaper Types: Audiences<br />Ethnic, Business/Financial, Professions/Groups<br />Types of Newspaper Ads<br />DisplayClassifiedPublic NoticesPreprinted InsertsRetail AdsCo-op AdsClassified DisplaysObituariesWeddingsLegal NoticesGroceryCatalogsCouponsSales fliersReal EstateAutomotiveEmploymentAdvertorials<br />