Published in Marketing and Strategy Terms by MBA Skool Team
What is Media Planning?
Media planning refers to the best way to get the advertiser’s message across to the market. The goal of the media plan is to find that combination of media vehicles that enables the message to be communicated to the largest proportion of the target audience at the most effective cost. The process of media planning involves the following stages.
o Market Analysis: This stage involves the target market identification (to whom shall we advertise), the internal and external factors that will influence the media plan (competition etc.) and the geographical market focus
o Establishment of media objectives: Media objectives are goals for the media program and should be limited to those that can be accomplished through media strategies. These strategies are usually related to reach (for example, the goal might be to reach 60% of the target market in 3 months), coverage (for example, use broadcast media to provide coverage to 80% of the target market), creating positive brand image etc.
o Media strategy development and implementation: Media strategies involve the media mix, target market coverage, scheduling, reach and budget considerations. The media mix is the most important step in the media mix strategy
o Evaluation and follow-up: Having implemented the media plan, marketers need to know whether or not they were successful. Measures of effectiveness must consider these two questions
a) How well did these strategies achieve the media objectives?
b) How well could this media plan achieve the overall marketing and communication objectives?
Hence, this concludes the definition of Media Planning along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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