The quotation above was taken from a late 1800â€™s speech in which John Wanamaker cited a problem that still exists today for many advertisers. The name of the game in advertising has become accountability for dollars spent. This demand has forced the need for all media to be compared to each other. This comparison, best achieved through marketing mix modeling which is dedicated to producing return on investment scenario planning has evolved to become a primary tool for many advertisers. One of the most important questions in marketing mix modeling is how to handle periodicity within the models. Television is planned on a weekly basis, magazines are planned based on their own unique publishing schedules, direct mail and coupons usually run on a weekly basis, and the rise of the internet offers media vehicles on both weekly and daily periods. With all of the variation in measurement periods, how can any model be developed which yields useful information that can ultimately be compared across media? In response to all the confusion, agencies have started modifying their planning process over the last several years. Where once magazines were planned based on publishing schedules, the latest trend is to view media from an integrated campaign perspective. Advertising agencies have begun to modify their print planning process to match print delivery with that of television, converting everything to weekly audience delivery.
Symposium: 2005: Prague, Session 3 - The Advertisers Perspective
Authors: Eadie, Wayne, Gugel, Craig
Organisations: Interactive Market Systems Inc., Magazine Publishers of America
Topics: Analysis Issues, Fusion and Modelling