Market Analysis:
Before an advertising programme or campaign is launched, the advertiser has to make a thorough study of the market where he is going to sell his product. The market analysis should be made taking into account the following factors:
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First of all, the advertiser has to search out the market for his products. In other words, he has to find out the buyers to whom products can be sold. As a matter of practice, producers choose local market first.
Next, the nature of competition must be studied. Where the competition is intense, the advertisement appeals should be made about quality, warranty and after sales services. In case of lesser competition, aggressive advertisement campaign can be made in order to sell more. Similarly, where there remains a chance of earning higher profit, more doses of advertisements can be inserted in various media.
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Media Analysis:
Media analysis is a process of selecting most effective and efficient media out of the lot. This helps the advertiser to communicate to the intended audience. It is a part of advertising research and therefore constitutes part of marketing research also. The prime objective of media analysis is to find out the ‘reach’, ‘frequency’, and ‘impact’ of various media on the audience.
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Media analysis broadly comprises three major areas namely, media planning, media selection, and media effectiveness. Media planning is the process of designing a course of action that shows how advertising time and space will be used to contribute to the achievement of marketing objectives.
Media selection refers to the identification of appropriate media, factors governing media choices, laying down criteria for media selection and evaluating each medium against another. Media evaluation is concerned with measuring the effectiveness of advertisements before and after selecting the media schedule.
Thus, the advertiser before undertaking an advertisement campaign should consider the above four factors, namely, product, market, consumers and media. This enables him to formulate a sound advertising programme. In fact these four factors can be compared to the four pillars of a bridge, the bridge representing the passage for goods to move from the producer to the ultimate consumers.