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SCM 4351 - Strategic Sourcing and Spend Analysis (Wayhan)

This guide was designed to help with the Halliburton Strategic Sourcing Competiton

What is media planning?

Outline of a gear inside of a shining light bulb

Media planning is a vital part of crafting a marketing plan. It is the process of establishing the exact media vehicles to be used for advertising (Entrepreneur Media Inc., 2018). This involves taking a closer look at media metrics such as the circulation rate (daily/weekly/monthly viewership), cost per ad. or cost-per-click, and their readership/audience profile to ensure that you can select the most effective media to reach your target audience. For example, Forbes Magazine's media kit will provide insight into their readership profile which includes C-Suite executives and wealth advisors. Therefore, if you are providing cleaning services to middle-class families then Forbes may not provide the best return on your advertising investment since it's unlikely to reach your intended audience and it's likely your budget can't support it either. 

Advertising Media - Circulation, Audience, Cost.

Now that you know how important and useful it can be to assess media metrics, the following resources are great places to analyze advertising channels, estimate customer acquisition cost, and find how, when, and where the competition spends their advertising dollars.