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Starting a new business can indeed be very exciting and challenging at the same time. Therefore it is a must to have a positive attitude and a clear disposition to achieve favorable results for the business. One major concern of business owners is how they may be able to introduce new product offerings to the public. With a lot of new products being launched every single day, not to mention the already existing competition in the market, it is very much critical to have a sound marketing and advertising strategy in place. This is where media planning comes to the picture.
A Brief Overview of Media Planning
Media planning is all about choosing the right media to be used for marketing and advertising purposes. It also entails a need to design a scheduling plan that will show how advertising time and space used for specific media contribute to a successful marketing or advertising campaign. By doing this, business owners will be able to determine which media is most suited for his or her business. Therefore, it is the role of media planners to be involved in the decision-making process of selecting the appropriate media tointroduce new products in the market in sufficient frequency with the aim to influence a greater number of potential customers at the lowest possible cost.
Critical Steps Involved in Media Planning
The types of media being considered in media planning include traditional or mass media such as newspapers, magazines, television and radio, and non-conventional media such as the internet. However, choosing the right media is not always the first step in media planning, especially in launching new products to the public.
First, it would be best to determine the product’s target market. Determining this will make it easier for media planners to design a sound marketing plan for the new product. This can then be further narrowed down with the determination of niche markets with specific needs and demands. It is best to focus on a particular primary market where all marketing efforts should be pushed to the limit. However the new product may also appeal to certain niche markets therefore it is more of like hitting two or more birds using a single stone.
Once the primary and niche markets were identified, it is then time to translate marketing requirements into achievable media objectives. In here, media planners will evaluate the effectiveness of a certain media to drive positive results in the long run. Aside from considering budget constraints, it is a must to also review the marketing campaign itself if it is indeed feasible, as well as the scripts to be used for the ads and the timeline for the project itself. Once it has been approved, it is then time to formulate media strategies, such as on what time the advertisement will be played on the radio or aired on the television. To increase the chances of having a successful ad campaign, it is essential to carefully evaluate media planning strategies for the business. With the right marketing efforts in place, this will definitely guarantee a successful product launch.
