Chapter 1 Defining Marketing for the 21st Century by:
The advertising plan document will frequently include all components of a marketing campaign. These components often include a description of the product, a detailed analysis of the marketplace for that product, a marketing budget for the plan, and the methods the marketers will use to carry out the plan.
Product Description The marketers must understand every facet of the product in order to deliver a powerful message to prospective customers. A thorough understanding of the product will enable the planners to develop a comprehensive and fitting strategy to market the product.
The description can include details about technical specifications, packaging options and price points. The plan should also include information on which features and benefits the advertisers want to emphasize and which ones they want to keep quiet. Marketplace Analysis The advertising plan will include an analysis of the product's target market.
This analysis will often include a list of groups that would receive the highest benefits from the product's use. These groups, known as "target demographics" or "demos," are often represented by age, gender, race or socio-economic background. For instance, the advertising plan for a product designed for high-school girls will be vastly different than one for a product whose primary customers are middle-aged men.
Advertising Channels Once the advertisers have decided on a message and an audience for that message, the next step is to choose the channel by which they will deliver that message.
The delivery method for the message can be as crucial to the success of an advertising plan as the message itself. A plan that relies on terrestrial radio ads will not reach the same audience as one that depends on satellite radio commercials, nor will a plan focused on TV commercials connect the same way as one whose primary means is website banners.
Plan Budget One of the factors that dictates which channels the advertisers will select is the plan budget. Advertising plans that include a large budget will have more options for delivery methods, while those with smaller budgets need to find the most effective channels for their messages.
The budget should also include resources to check on the effectiveness of each message, demographic and channel. The data from this analysis will allow the developers of the company's next advertising plan to make more knowledgeable choices.Current Wage & Hour Challenges Karen Thompson Pádraig Flanagan Keith McDonald Pat Collins Keya Denner The material provided herein is for informational purposes only and is not intended as legal advice or counsel.
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