decision makers, decision, management, magazine, books, articles, research, business

decision makers, decision, management, magazine, books, articles, research, business

Issue No: 05/04/1

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In a fast track world of rapidly changing customer and media habits, advertisers are faced with complex choices for planning their advertising campaigns. The corporate manager working in an environment of massive and unorganized information, is concerned about the effectiveness of his media spend and want to maximize the utility derived from it through the best chosen communication channels. The communication maze pervading today's Internet era has magnified the advertiser's job from mere exposure to facilitation of customer response. Metrics have changed to 'recency' where advertisers are focused on making the next impact sale. Thus, media effectiveness in customer response generation has become paramount in top-line development of businesses.

Effective media usage is now treated as a fundamental component in a firm's marketing strategy. The media planner has come to occupy a crucial position in achieving the organization's brand objectives. The planner can assess the outcome of his plan better if he can identify the factors of media mix on metrics derived by employing advanced analytical techniques. In media analytics, the analyst's steep learning curve and expertise is harnessed across a plethora of media operations that the firm's management wants to revamp; such as

  1. Evaluating Effectiveness of Media Plan
  2. Predicting Usage of Media
  3. Optimizing Media Budgets

Today, even though media planning is a specialist's domain, the one area where media planners struggle is to isolate the precise roles of media mix components in achieving client targets. Advertisers and planners would gain deeper insights and understand well the role media mix components play in meeting the media objectives. For example, if the brand's strategy is focused on increasing awareness, then measures that predict the media's ability to help create awareness would be included in the decision process. Here ad-recall measures for the brand message which cutting across media environments, provide extremely useful data. The stakeholders in a media plan need to know the exact role of media mix and correctly identify the factors in achieving media targets.

There is an explosion not only in the possible media-mix options but also in media vehicle options in changing viewer ship habits. It is just not enough to Mass-market the product. Understanding media usage and predicting it is also critically important for tactical management of campaign objectives. Simulators and Forecasting Tools help advertisers and media planners to predict the likely media behavior and utilize this information in formulating their plans.

Finally, given the multitude of choices and trade-offs, optimization of media budgets is difficult to achieve. Media planning DSS (Decision Support Systems) utilize optimization algorithms of operations research for coming up with effective allocation strategies. A "Complete Media Intelligent Solution" would utilize the power of available and emerging technology for highly effective advertising campaigns.

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