Meaning
Media planning includes a series of decisions and strategies to choose the right advertising channel for delivering the advertising message to existing and prospective consumers. It helps to get the best way for communicating the advertiser message to the market. In another way, the aim is to find the best combination of media that allows the advertiser to communicate the message most effectively to potential customers at the lowest cost.
Importance of Media Planning
1.) Optimum Utiliza3tion of Resources
2.) Helps in Allocating Advertising Budget
3.) Ensures Appropriate Timing of Advertising
4.) Helps in Controlling
5.) Selection of Appropriate Media
1.) Optimum Utilization of Resources
Advertising included a huge cost. Media planning will help the advertiser to use the available resources in an optimum manner. It helps the advertiser to take the right decision about the media and time for the advertising that will effectively communicate the message with less cost. In the absence of media planning, the advertiser can select high cost media that will not cover his target audience.
2.) Helps in Allocating Advertising Budget
Media planning helps to decide the total amount to be spent on different media. There are different media vehicles advertisers have to choose which will communicate with their target audience. So, it also helps the advertiser in allocating the advertising budget for different media vehicles.
3.) Ensures Appropriate Timing of Advertising
Advertising will provide the best result if they are shown at the right time to its target customers. So, it helps to decide on what day, month, or time advertising will be communicated. It helps to communicate the ads at the time when more customers can be connected. It includes media scheduling which decides the time and space of advertisement in media.
4.) Helps in Controlling
In media planning, some standards of performance are fixed at the time of planning. These standards are regarding the goal which has to be achieved through advertising. These standards will help management in evaluating the effectiveness of advertising. If actual performance does not match with the standards, then proper precaution takes to fulfill the gap.
5.) Selection of Appropriate Media
In media planning, different media Channels are compared based on cost per reader, cost per viewer, media-coverage, etc. While selecting media the advertiser must select media that will reach the maximum number of target customers.
For example, 1. if the target audience is literate, then print-media can be selected 2. if the target audience is professionals, then professional journals and magazines can be selected.
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