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Media Buying Decisions & Media Agencies

Submitted ByImran Khan Roll no. 45


March 21, 2012 1

Media Buying
Purchase of specific amount of space and time in media channels or The buying of advertising space from a company operating media properties is basically considered as media buying.

The cost of a media buy varies depending on the specific media property on which the buyer wants to advertise, the size of the advertising campaign, the specific times at which the advertisements are to be displayed, and other specific features of the advertising campaign.

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The media-buy decision is based upon the amount of money available, the number of exposures desired, the target market the advertiser wants to reach, the frequency of exposure desired, the number of people each medium will reach, and the impact each medium will have on the message. for example, the impact of a fashion advertisement in a fashion magazine versus one in a magazine about fishing. Since there is no one right way to spend advertising dollars, it is the media buyer's job to choose a reasonable optimum.

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Media Buyer
Media Buyers are the individuals responsible for purchasing time and advertising space for the purpose of advertising. When planning what to buy, they must evaluate factors based on but not limited to station formats, pricing rates, demographics, geographic, and psychographics relating to the advertisers particular product or service objectives. The Media Buyer needs to optimize what is bought and that is dependent on budget, type of medium (radio, internet, TV, print), quality of the medium (target audience, time of day for broadcast, etc.), and how much time and space is wanted.
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Media Buyers can purchase spot, regionally, or nationally. National Media Buyers might have to factor in determinates based on a state by state basis. Rates, demand of leads, space, and time, and state licenses will vary from state to state. National Media Buyers will need National Media Planning to generate National Media Marketing strategies and National Media Advertising that can be adaptable from area to area but also work on a national level.

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Media Buying Process


Identify the target market Research the target market Setting objectives Define and plan out the strategy Execute the plan

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Identify the target market


Identify the target audiences and Create a profile that reflects the consumers that a company trying to reach i.e. their age, incomes, gender, etc.

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Research The Target Market


In this step, a company have to find that where it can finds its target market, as well as the other demographics that can assist company in selecting the right media buy. Various questions arises in this stepWill a company find its target market? Are they TV watchers? What about magazines? It is important for a company to understand the consumer behavior that it actually targeting. This will help a company in placing a media or product in the market, which will be effective and better than the competitors product.

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Setting the objective


It is important for a company to identify that what objectives are most important for each media buy so that company can measure whether or not these objectives are being achieved. In this step main questions are arises thatWhat Are Is

do you want to do with your media buys?

you looking to create awareness?

your goal to achieve sales?

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Define And Plan Out The Strategy


The plan should contain Where will you buy media? What components should your media plan contains? overall budget. Executive Summary (What is the summary of the strategy). Objectives and How Will You Achieve Them. Identify your Overall objectives. What publications or media outlets have you chosen based on the previous steps? How much will you spend with each outlet and why? What objective do you hope to achieve with each outlet?
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Execute The Plan


After setting the objectives and planning the strategy, it is a time to execute the plan. Contact the media outlets and start negotiating your media buy rates. As your plan for media buy is executed, be sure to evaluate how your strategy and plan is working for you. If you are not meeting your objectives, then dont be afraid to adjust your plan as necessary.

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Media Agency
A media agency is a company which help companies to communicate with current and potential consumers or to the general public. These agencies work with their clients to understand the business issues, their market & their consumers.

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Role of a media agency


Developing

strategic advice which includes products, brands & brand portfolios: in terms of brand image, targeting media usage and phasing. Category & category segments: identifying & analyzing media usage by the competition, detecting opportunities. Media strategy & planning definition of target & objective from marketing, sales, with media surveys & consumer databases. Investment analysis including budget & evaluation of previous investment. Partnership & multinational coordination. Analyzing & selecting media vehicles reach & frequency distribution levels, determining estimated net costs of contracts, required environment. Leveraging the purchasing power of advertiser: negotiating & buyinganalyzing terms & conditions of each vehicle, ranking vehicles according to net cost, permitting the advertiser to monitor media purchases and budget status with simple direct access.
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Permitting

a detailed post analysis- media post analysis actual v/s

objective, buying post analysis- negotiations & other economic benefits obtained, efficiency post analysis- role of media in marketing mix,
Contributing

to the consistency & effective functioning of media

market place including control, together with advertisers & media owners of media research to guarantee its accuracy & usability.

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Key factors which an advertiser consider while selecting a media agency


Activity brands & productsPresentation

of main activity/brands of the products & services of the business. Distribution network Clients- current & potential prospects Competitive environment for each of the market in which it active.

Advertising & communication of agencyStructure

of the general advertising /communication agency Latest creative work Different services of the agency in the advertising/communication domain & their precise objective

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Organization & extent of the servicesGeneral

company philosophy & professional approach structure & finance

Operational

Administration Management IT-

procedure & documentation

system & equipment, staffing, IT links with advertisers & media owners

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Major media agencies in India


Chaitra Leo Burnett Pvt. Ltd.- Mumbai
Capitalized billings- Rs.1967.21 million. Television billings- Rs. 904.82 million. Major clients-ICICI, Bajaj auto, Dabur India, BPL Ltd, coca-cola, Toyota.

Fortune communications Ltd.- Mumbai


Capitalized billings-Rs. 128.13 million. Television billings- Rs. 0.18 million Major clients- southern railways, UTI mutual funds.

IB&W communications Pvt. Ltd.- Mumbai


Capitalized billings-Rs.1657.66 million. Television billings- Rs. 162.73 million. Major clients- Pantaloons Retail India, J K Cement, MTNL, Airport Authority Of India, Music Today
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Hindustan Thompson Associates- Mumbai


Capitalized billings-Rs.10777.05 million. Television billings- N/A Major clients- Hero moto corp., Standard Charted, ministry of finance, ministry of defence, Omega, 20th century fox, Star tv network, Apollo hospitals, ESPN, Pepsi.

McCann-Erickson India Ltd.- New Delhi


Capitalized billings-Rs.3479.53 million Major clients- reckitt & colman, coca-cola, BPL, Khaitan, HSBC, Motorola, Nestle, Starcom, Travel corporation of India

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Thank you. . .
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