Introduction
In developing an ad program marketing manager must always start by identifying the target market and buyer. Then they can make the five major decisions regarding developing an advertising program. These Five-step in developing ad program are also known as the 5Ms of advertising which are mission, money, message, media, and Measurement.
5 Ms of Advertising
1.) Mission - Setting Ad Objectives
2.) Money - Establishing Ad Budget
3.) Message
4.) Media
5.) Measure
1.) Mission - Setting Ad Objectives
This refers to the purpose or objective behind advertising. The objectives behind advertising are different in character. They include sales promotions, brand loyalty, market goodwill, facing market competition, making the product popular, and introducing a new product in the market. The first advertiser has to choose what is the mission of his advertising
2.) Money - Establishing Ad Budget
This refers to the finance provided for advertising purposes. It means the funds allocation made by the company for advertising. Money is a limiting factor so the company has to think before advertising how much money they are going to spend on advertising. Advertising is costly and companies have to spend a lot on this purpose. Some advertising media cost more like Television, newspaper, radio, etc.
3.) Message
The message is given through written words, pictures, slogan, video, and voice. The message is for the information, guidance, and influencing the prospective or existing buyers. Advertising with attractive and meaningful message give a positive result. The services of creative writers, artists, etc. are used for giving an attractive message to the consumer.
Designing or developing the advertising message and positioning the advertising is a creative and analytical task.
4.) Media
Some of the major advertising media that are more popular amongst marketers are newspapers, television, radio, posters, internet, etc. Media differ regarding cost, coverage, effectiveness, and so on. The selection of media depends on the budget, products to be advertised, and characteristics of prospective buyers, and so on. Wrong decisions on advertising media may make advertising ineffective and money spent will be wasted.
5.) Measure
Advertisement is costly but it generates revenue for the company. So, advertising must be effective that it influences the existence or prospective customer, which can be done by measuring the advertising. It is the final phase. An advertiser will like to make an evaluation of advertisements to judge the effectiveness of the advertisement. If an advertisement is not effective or purposeful, it will be modified or withdrawn.
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