Hover Shoes INC… (An exercise in Primary and Secondary Research)
Introduction: In Science class, you were given an assignment where you had to use science to improve an existing product. You had trouble coming up with an idea at first and then it hit you; like a bolt of lightning, HOVER SHOES!! You felt so good after inventing your Hover Shoes that you decided to buy a lottery ticket and low and behold, you won $500,000!!!
After asking around, you know that there will be high demand for your hover shoes amongst teenagers so you decide to go into business. You know that you can sell the shoes at a reasonable price and still make a profit. But how do you get the word out? Advertise!!
One of the most important and most expensive mediums used to attract consumers is television. Before using this medium, the marketer must be sure that it will reach the largest number of consumers for the least amount of cost. Not only must the marketer know what market this media reaches, but he or she must know when, and what station or network will attract the largest target market.
Primary Data
Part 1: Make a list of your 5 ways/shows that you watch TV/Movies/Videos:
Part 2: Collect Data from 10 classmates on the 5 ways/shows that they watch. .
Secondary Data
Part 3: Go to the following link to view secondary data on how much it costs to advertise on TV (link is on the classroom website) (also use the cost sheet provided)
Next, go to the following link showing the top TV rating for last week.
Part 4: Now that you have both primary and secondary market data, it is time to make some decisions. You need to write a summary saying how much of your $500,000 you will spend making your commercial, where you will advertise (on-line or t.v.) what network(s) you will advertise on, and when you will advertise. You MUST use your data to justify (in writing) why you made the decision you did.
Cost Chart for TV Advertising
Cost to produce the Commercial
Very low budget: $1000, make a commercial with your friend in a single afternoon
Low Budget: $5000, making the commercial yourself with some decent editing and music and two ‘cheap’ actors.
Medium Expense: $15,000, you write the script yourself and hire a marketing company to make a cheap but ‘good’ commercial with some good strategies
Expensive: $50,000 hire a company to make you a commercial with some good special effects and cutting edge marketing strategies and computer generation.
Very Expensive: $100,000 Fully computer generated with custom music jingle, slogan, and a logo
Extremely Expensive: $250,000 the same as ‘Very Expensive’ but you also get a celebrity in your commercial for 10 of your 30 seconds.
COST to Advertise on-line
Targeted Youtube ad for a day $10,000
Targeted Youtube ad for a week $60,000
General Youtube ad for a day $250,000
Targeted Push or Mobile ads for a week $50,000
Cost to Advertise on TV
TV NETWORK
|
Morning
6-11:59 am
|
Day time
12-5:00 pm
|
Evening
5 – 8:00 pm
|
Primetime
8 – 11:00pm
|
Late Night
12- 6:00 am
|
Major Networks
ABC/FOX etc
Speciatly Channels
Discovery, History Teletoon, Etc
Local channels,
Weather
Network, TV listings channels, Shopping network etc.
|
$50,000
$10,000
$2000
|
$100,000
$15,000
$2500
|
$150,000
$20,000
$4000
|
$250,000
$30,000
$5000
|
$25,000
$7500
$1000
|
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