Virtual Business Sports Media Planning

Promotion All activities used to inform & persuade consumers to buy products & services.

Promotional Mix Any combination of promotional activities, including advertising, sales promotion, personal selling, & publicity a company will do to inform & persuade consumers.

4 Promotional Mix Elements (2)Sales Promotion: Short term incentives used to stimulate customers to buy products. (2)Sales Promotion: Short term incentives used to stimulate customers to buy products. Examples of Sales Promotions: Examples of Sales Promotions:  Coupons & Rebates: Offer price reduction or free merchandise  Free Samples  Premiums: Items that are given away free with purchase of merchandise  Contests: Chance of winning a prize if a task is completed by the customer.  Sweepstakes: Sign up to win a prize. No purchase or task is necessary.  Store Window Displays  Free Financing

4 Promotional Mix Elements Cont…. Personal Selling: Direct or personalized communication by employees to potential customers to influence buying decisions & ensure customer satisfaction. Personal Selling: Direct or personalized communication by employees to potential customers to influence buying decisions & ensure customer satisfaction.

4 Promotional Mix Elements Cont…. Publicity/Public Relations: Publicity/Public Relations:  Publicity: Free & non-personal forms of communication  Public Relations: Activities that promote the image and communications a company has with its employees, customers, investors, and public. Examples of Publicity/Public Relations: Examples of Publicity/Public Relations:  Press Releases & News Conferences  Newspaper Articles  T.V. News Stories  Radio & T.V. appearances

Advertising Any paid & nonpersonal form of communication of an idea, good, or service.

Advertising Media The different avenues through which a business can reach its potential customers

Types of Advertising Media Television Television Radio Radio Internet Internet Newspapers Newspapers Magazines Magazines Billboards Billboards

Successful Media Planning Media planners will seek to reach the largest % of their target market. Media planners will seek to reach the largest % of their target market.  Target Market – The group of consumers that a business will direct its marketing activities towards. Try to keep advertising spending within a set budget. Try to keep advertising spending within a set budget.

Strategies for Successful Media Planning Define a specific target market by using Market Segmentation – Breaking down consumers based on their characteristics. Define a specific target market by using Market Segmentation – Breaking down consumers based on their characteristics. Types of Market Segmentations: Types of Market Segmentations:  Demographics – Personal Characteristics – ( Age, Income, Gender, Ethnicity, Occupation, Education Level).  Psychographics – Hobbies, Lifestyles, & Interests  Geographics – Consumers’ locations

Strategies for Successful Media Planning Cont… Determine specific media outlets which will best reach the defined target market segments. Determine specific media outlets which will best reach the defined target market segments.  Example: If you are targeting young males determine media outlets which have a large number of viewers or listeners that are young males.

Maximizing Advertising Dollars Determine how well your advertising dollars are being spent with Cost Per Reach. Determine how well your advertising dollars are being spent with Cost Per Reach.  Cost per reach = Total Media Cost / Total Audience Reach  Example = Media Cost = $100,000 Audience = 2,000,000  $100,000 / 2,000,000 Cost per reach =.05Cost per reach =.05 (It costs.05 cents for every person reached)(It costs.05 cents for every person reached) The lower the “CPR” the betterThe lower the “CPR” the better

Media Planning Terms Cost per reach – The cost of an advertising campaign divided by the number of people reached Cost per reach – The cost of an advertising campaign divided by the number of people reached Media – Avenues for communicating a message. Media – Avenues for communicating a message. Awareness - % of potential customers in a specific target market who are aware of a product’s existence. Awareness - % of potential customers in a specific target market who are aware of a product’s existence. Demographics – Personal characteristics of a population segment such as gender, age, & income. Demographics – Personal characteristics of a population segment such as gender, age, & income.