Definition of Media Mix
Media mix is used to refer that the combination of communications channels which is used for the purpose of advertising particular goods or services by any particular business entities. The main objective of the media mix is to help the businesses in meeting up with the various marketing objectives.
Meaning of Media Mix
The media mix is basically a combination of different advertising channels which are chosen in such a way that it reaches a maximum number of people. Here these channels are used for the purpose of advertising their goods or services so that maximum number of people can get aware of it and then buy it.
If chosen wisely, this media mix proves out to be quite a smart move in the marketing industry. it can also be defined as that media planning strategy which can create quite an impact on the sales and growth of a particular business entity.
This media sum is the total summation of every single advertising agency commission as well as one of those media houses that contribute to the advertising camping of any particular goods or services under a specific media plan. Now the main aspect for a media mix to become successful is the ability to choose the right kind of communication channels.
When these advertising channels are chosen in such a way that it is able to influence people that are when you know; the media mix has become successful. Now there are many factors which are included in the media mix which can be for example television, radio, billboards, online websites, social media platforms like email, facebook, twitter, etc.
These are some of the most effective platforms that are considered to be combined together to form a powerful media mix. All of these platforms have the ability to reach broader areas and also reaches to people who belong to different geographical location, belong to different age groups, gender, etc.
Now as it is clear that the media mix has a really wide reach, sometimes it also gets to choose a particular segment of the demographist they want to influence. So with the help of the media mix, one can either choose to influence the entire demographics or just a certain segment of it.
Either way, it is always essential to have the right kind of combination so that appositive impact is created among the customers amount the goods or services that are being offered to them.
Now although media mix has a variety of options to choose from, it is always considered bets, if the channels that are chosen for the media mix are meant to incidence a particular segment of the demographics. This is so because, when the company focuses on a particular segment, they are able to understand more about those people, like what their demands are, what they have been looking for and how much are they willing to pay for.
On the basis of evaluating all of these criteria, one can choose the advertising channels that will reach to those particular group of people on whom they have don’t he marketing research and once all of this is done, a proper media mix can be prepared.
Media Mix Examples
One should first know that fact that the media mix is not a tool used for selling the products. Instead, it is a buying strategy. And in today’s generation, the internet is playing a massive role in the act of media mixing.
Just by using the different social media platforms, many of the small startups and small business made it big in the marketing industry. Now a day’s social media platforms like twitter, facebook, Instagram, and other newly developed apps have been ruling the world and how!
These, when used in media mixing, creates a very strong impact on the minds of the customers. Also, the media mixing helps the sellers on focusing on the cross-media packaging.
Thus both the well-established business and the newly found ones, all cause the media mix strategy to help escalate the growth of their products.
To understand how this media mix is used by the cookies let us consider an example. Let us take the example of a well know and well-established company AMUL. Now Amul is a company which is known for its premium quality of dairy products which includes a variety of them.
Now suppose Amul launches on new products in the market which is saying butter with low fat and is priced at an affordable rate. So here this company now needs to spread this thing to its customers.
Now for this, the company will use the technique of optimal advertisement. There they will focus on the media mix and select the channel that will look most powerful to them in terms of spreading knowledge about their products to masses. So in their media mixing, they can include advertising channels like the broadcast, for example, Television and they can advertise their product in any of the ads and even the cookery shows.
Also, they can showcase the benefits of the products through the billboards. Then print magazine can be another powerful media to help them in advertising their product. Thus by inclosing televise, billboards and print media they can form up a powerful media mixing strategy that will help them, in the long run, to make their product successful and help it in sustaining the market.
Importance of media mix
It is a powerful media to help advertise the goods and services of a particular business entity so that its sales revenue and profit can grow at a rapid rate. The importance of the media mix can be stated from the fact that if it is used in the right manner, the companies are able to deliver exactly the same kind of message that they want to.
It prospects lower cost and minimum waste. it holds importance as it lets the company reach to even those parts of the locations which are quite separated from the rest of the world.
No to reach for a particular ours which includes all kinds of decisions makers, the technical analyst then it is possible for the media mix to consist of business magazines and even a few of the exhibition which is entirely aimed at those directors. Also, it helps in reaching a small segment of the population which can be done by contacting the customers via personalized email and even an executive session in the media mix.
Also, a well-planned media mix helps in strengthening the media channel so that more and more people can get influenced. The media mix helps in coordinating creativity with the right kind of timing and an apt frequency.
This creates a powerful impact on the demographic and encourages them to purchase the goods or the services that are being advertised. The media mix is also important because it does not remain fixed with time.
It understands the need for continues changes that people are going through and hence is adjustable according to the demand of the time. Also for a media mix to be effective is essential that continuous research is done and progressive changes are eking made to keep in touch with the latest trends and create an impact on the masses.
Usage of media mix
It is majorly used in the marketing industry. It is considered to be one of the masters marketing strategies and should be inculcated by all the businesses that are planning to grow at a rapid rate and survive in the industry for the longest time. The media mix is used by all kinds of companies be it a new startup or a small company to any really big and well-established company.
Media mixing is a selling strategy which is compulsory for all. it is used by these companies to select the right kind of advertising channels that will help them advertise their products o as many people as possible.
Thus there is plenty of usage of the media mixing and when it is used with the right kind of approach will help the companies to generate a lot so sales revenue and profit.
What are the advantages of media mix?
- Its take into account various external factors which makes it an effective tool for planning of the budget.
- It helps the marketers in understanding the latest marketing trend that is going on in the market.
- It also helps in formulating a better strategy so that more and more people can get encouraged to buy the product.
Disadvantages of media mix
The disadvantage of them is that it is not able to provide gradual and person level insight which one important factor on which most of the modern marketers truly rely on. This way the media missing dens did not help in measuring the digital and the traditional form of marketing ROI when combined together.
It is a very powerful strategy to help advertise a product or any service that is being newly launched in the market. The only things that should be taken care of are that it should be prepared by first researching well.