Week 3 Discussions… Discussion 1
Analyze and discuss factors associated with the most appropriate media mix for an advertising campaign and the skills required to make a media selection. Why is it important to understand the characteristics of media options? Develop a SWOT analysis on at least two of the marketing channels you might select for an advertising campaign. Support your analysis with at least three references.
I think the text starts the thought process of this discussion perfectly, “The purpose of media planning is to conceive, analyze, and creatively select channels of communication that will direct advertising messages to the right people in the right place at the right time” (Arens, Schaefer, & Weigold, 2012). In today’s society there are so many different ways to reach consumers I can understand the challenge of trying to figure what a certain product’s target audience will be and how much budget should be focused on getting the “word” out about the product. In the past most people would think the biggest advertising medium would be TV, magazines and newspapers, but now that the internet is so large worldwide mediums like magazines and newspaper are starting to become less likely to hit particular target audiences and the same goes for TV. All of these changes are forcing advertisers to think way outside the normal box they are used to working in. I’d like to look at a specific example and I’ll use the company I work for as that example. Again, the point of my company is to sell Work Comp policies. I’ll use trucking type accounts as the specific target audience. Conducting a SWOT analysis as a company for this particular market is important in order to understand where we need to focus to make the most of our budgeting. According to a Forbes article, “An effective process companies use to assess themselves and their competitors and formulate their strategies is an analysis called “SWOT” (Quast, 2013). This SWOT analysis will review my company’s strengths, weaknesses, opportunities, and threats. For trucking accounts, we specifically specialize in writing accounts anywhere from $5,000 to over $300,000, when a lot of carriers will not because they feel there is too much risk in that particular class. We have a specific market assigned only to our company for trucking in