QB Few Ans from Sagar Sankhes Mail + JNK

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Q. Explain Marketing Communication Tetrahedron diagram from Kevin Keller's Marketing Communication Mix?

Ans:

Talks about marketing communication effectiveness along four broad dimensions (consumer, communication, response, situation)

> Analyse effects 

of integrated marketing communication programs

Consumers:

Age, gender, race, attitudes 

towards self, others, possessions, brand choices, usage, 

loyalty often serve as the basis of market segmentation and 

development of distinct marketing programs, these 

characteristics may impact consumers’ response to marketing co

mmunications 

Communication: 

Sight, sound, motion, spoken or written words, 

static, dynamic, interactive, customized. Its 

extremely important how we interact with consumer and 

surrounding It gives different responses

Response: 

Reflects the state changes that a consumer experiences either temporally or permanent basis

Situation: 

All the factors external to the communication itself that may affect consumers and impact communication effectiveness (exposure location, communication exposure etc)

Q. Explain media planning wrt Reach, Frequency, Media category, Coverage?

Ans: 

Has details of "How the ad will work" and "why this strategy and implementation was chosen"

Includes:

> Target audience selection

> Target audience analysis (media habits)

> Media objectives

> Media and vehicle selection, timing with its reasons

> Media strategy

> Budget, spending

> Reach and frequency

For the specific cases, a media plan might need to contain the followings:

> CPM analysis

> Seasonality

> Details of broadcasting costs

> Not recommended actions with reasons (media selection, spending)

> Alternative plans in for scheduling and/or budget

> All what can be an issue based on previous discussions with the client

Reach: How many individuals (different) people saw your ad e.g. unique ip address hist on website

Frequency: How many times people saw an ad in a timeframe e.g. (Average) number of hits per person (Frequency = total duplicated audience/Reach)

Coverage(%):  Percentage of the target audience is reached by a media, (Achieved/Targeted) X 100 = %

Target audience: Selected segment of everyone (potential costumers) Done by: age, sex, occupation, income, media consumption habits or educational levels 

Media objectives: Determine target audience, needed reach and frequency (what needs to be done)

Media strategy: Set of best actions (which media to use, which vehicles to use, timing of ads)  (how it needs to be done)

 

Q. What are BDI-CDI Indexes?

Ans:

Media planners assess geographic concentration. either by Brand Development Index (BDI) of a geographic region, (concentration of sales of a company's brand in that region) or by Category Development Index (CDI) (concentration of sales of the product category (across all brands) in that region)

Compare BDI with its average BDI (all markets BDI), BDI ratio= Brand's sales in a given geographic market / Average of its sales in all markets

                 Market X's Share of Total Brand Sales

BDI = -------------------------------------------------------------

----

 X 100

                   Market X's Share of U.S. Population

BDI doesn't reflect the concentration of potential sales as measured by sales of the entire product category

CDI gives product category's performance in a given market in comparison to its average performance in all markets in same country. Sales of a product category include the sales of all the brands (the company's and competitors' brands) or at least all major brands that fall in the category

           Market X's Share of Total Category Sales

CDI = ---------------------------------------

-

-------------

--------------- X 100

                      Market X's Share of U.S. Population

 

Q. What is concept of Augmented Reality(AR)?

Ans:

Environment when supported (augmented) by computer-generated sensory input such as sound, video, graphics or GPS data is called augmented reality, it is live, direct or indirect view of real world which is supported by tech 

(Image) Mr. Pranav Mistry's SixthSense augmented reality system lets you project a phone pad onto your hand and phone a friend without removing the phone from your pocket

Another example can be showing fielding position or attack/defense pattern during soccer or cricket match (where science/digital technology augments the real time sports view)

Virtual reality replaces the real world with a simulated one. Augmentation is conventionally in real-time and in semantic context with environmental elements, such as sports scores on TV during a match. With the help of advanced AR technology (e.g. adding computer vision and object recognition) the information about the surrounding real world of the user becomes interactive and digitally manipulable. Artificial information about the environment and its objects can be overlaid on the real world.

Q. What Chris Anderson's Theory of Long Tail? Mention three forces which form base of these theory?

Ans:

Long Tail Theory was explained by Chris Anderson in his Wired Article. 

It talks about describing niche marketing and the way it works on the Internet. It says how internet allows people to find less popular items and subjects. He says that there's profit in those "misses," too. Amazon sells obscure books, Netflix rents obscure movies, and iTunes sells obscure songs. That's all possible because the Internet has taken geographic location out of the equation

It's basically a retailing strategy of selling a large number of unique items with relatively small quantities sold of each usually in addition to selling fewer popular items in large quantities. Chris Anderson in an October 2004 Wired magazine article mentioned Amazon.com, Apple and Yahoo! as examples of businesses applying this strategy. Anderson elaborated the concept in his book The Long Tail: Why the Future of Business Is Selling Less of More

Long tail signifies plenty of products (long) each of which are low in general demand (see the popularity in y axis is minimum at tail) 

Three forces:

> "democratizing the tools of production: e.g. personal computer, (cost of making the first copy of something, and marginal cost of making each additional copy) basically revolving around economies of scale and use of technology to bring down marginal cost

> "cutting the costs of consumption by democratizing distribution": Amazon and Netflix exploit the Internet to more effectively distribute goods (Chris says "Internet makes everyone a distributor), sourcing from supplier as and when that item is demanded by customer helps reduce cost by huge margin, use of technology and database tracking has made locating item and its movement much simpler

> "connecting supply and demand": enables consumers to find those high-quality, produced and aggregated niche products, (by reviews, likes, favorites, recommendations, links, and so on help us to find things we like on the Internet where trust is a major issue when we see list of may suppliers)

 

Q. What is FCB grid?

Ans:

Integrative model by Richard Vaughn dividing goods and services into four categories, along two axes: the Think/Feel axis, and the High Involvement/Low Involvement axis

 

He says that the marketer should put consumer decision process in each of these four quadrants, for example:

 

> High involvement and feel: (psychological)

 • Products fulfilling self-esteem, subconscious, ego-related impulses

 

 • Requires perhaps more emotional communication 

 • Feel →Learn → Do

> High involvement and think: (economic)

 • Classical hierarchy-of-effects 

 

 • Awareness →Knowledge →Liking →Preference →Conviction →Purchase

 • Learn →Feel →Do

> Low involvement and think: (responsive)

 

 • Routine consumer behavior

 • Learning occurs most often after exploratory trial purchase

 • Learning by doing

 • Do → Learn → Feel

 

> Low involvement and feel: (social)

 • Personal taste

 • Life’s little pleasures

 • Peer-oriented items

 • Do → Feel →Learn

Q.What is DAGMAR model of advertising communication?

Ans:

Defining Advertising Goals for Measured Advertising Results abbr. DAGMAR was an advertising model by Russel Colley (1961)

According to DAGMAR, each purchase prospect goes through 4 steps:

1. Awareness

2. Comprehension

3. Conviction

4. Action

These steps are also known as ACCA advertising formula. ACCA/DAGMAR is a descendant of AIDA advertising formula and considered to be more popular and comprehensive than AIDA. Important parts of the DAGMAR model are definitions of target audience, (people whom the advertising message is addressed to) and objectives (goals of advertising message).

 

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