Marketing Tip of the Day
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Pros: Magazines offer specific demographic targeting, longer lasting shelf-life, greater reader involvement, and high quality reproduction and color.
Cons: Magazines have a longer lead time, higher costs when compared to newspapers, smaller audiences, and require more catchy and creative ad design (higher cost).
Pros: Newspapers target a large audience, make geographic targeting possible, provide split-run testing ability, and offer immediate exposure.
Cons: Newspapers are cluttered and print with poor quality reproduction, most ads focus on sales and promotions (rather than branding), and they have a very short shelf-life.
When you develop an advertising campaign, a careful consideration of the available media outlets must be part of your plan. Every media outlet comes with its own individual pros and cons. A great media outlet for one company may not necessarily be a good option for another - even in the same industry. Even a [...]
Marketing strategies are nothing without a rationale. Your rationale statement provides a narrative explaining how and why you have chosen a particular strategy. This establishes your logic pattern and helps others to understand why a strategy is the best option. This helps people in the future pick up where you leave off and complete a [...]
Remember the 4 P’s of marketing (Price, Product, Place, Promotion) when you develop action strategies. Since the four P’s cover the majority of all marketing decisions you must consider strategies for each. Developing a marketing strategy not only requires that all options be considered, but that the pros and cons of every action is correctly [...]