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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?

Media planning is the process of establishing the exact media vehicles to be used for advertising (Entrepreneur Media Inc., 2018). It is a vital part of crafting a marketing plan and 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 readership/audience profile. This will ensure that you can select the most effective media to reach your target audience. For example, let's say you provide cleaning services primarily to middle-class families, and you're considering advertising in Forbes magazine. You would want to look at the Forbes media kit, which will provide insight into their readership profile, an audience that includes C-Suite executives and wealth advisors. Therefore, Forbes may not provide the best return on your advertising investment since it is unlikely to reach your intended audience and likely will not fit in your budget.

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.