Budget of Advertisement
Many elements contribute to the budget of a TV advertisement, some which are evident within the ad itself and some which are background elements, which are often the more pricier type of advertisement elements. When researching into the budget for my own ad, I had to bare in mind that elements such as; professional equipment , the facilities in which I would use to shoot the ad and actors who would be performing in the ad would contribute to the cost and I would have to find a way to minimise this cost. Based off this, whilst doing some research I found a package which would cost £50,000. This was the cheapest package I could find, whilst another major reason for choosing this package was the fact the the other packages offered adverts up to only 20 seconds long, and seeing as though I need to create a 30 second add, this package offered that for me. With this package I will get the following; production and clearing of my ad - which will have to be 30 seconds long, script writing, filming of ad, hiring of actors, equipment (cameras and editing software etc.) and team members needed to work on the advert. My advertisement will also receive air time, played on a selected TV station or stations. On estimate of a total of 7.5 million people will view my advert per day. The company supplying the package I have chosen are skilled and experienced in this sector and will help with planning my advertisement, while also being the driving force behind the creative, productive and outcome of advertisement. They are also in charge of making sure the advert is right for the audience, making any adjustments along the way to ensure that it will be as successful as set out to be. Along with this I will get weekly updates - the first being a week before my ad is broadcasted, informing me of the success rates of my ad. This package will also include a post-campaign analysis, which shows the outcome of the advert toward the initial idea set out by the team.
Market Research of Advertisement
There are numerous ways in which you can research into market methods. The first and most basic classification of research is primary and secondary; secondary which i first of six market research methods, and the other five are flavours of primary research. Secondary Market Research is pre-existing data, such as twitter comments or online journal/blogs. This type of research is free and is usually done quickly, so being a secondary researcher gives you the freedom to find whatever you can which currently exists relevant to your specific project. This type of research would come in useful when researching into my audience's specifications, for instance, going onto youtube and reading comments on a pre-existing advert for the same brand could lead me to find out more about my audience and what they think about the ad, the brand or even the product itself. The first form of 6 types of research within Primary Market Research is surveying. This being the most widely known and utilised method of market research, surveys come in wide varieties of type of survey - from small feedback cards to prolonged surveys which take a careful amount of time to finish. The overall idea of a survey is to measure a specific thing - like the popularity of a certain product, by surveying the quantity which use the product you are asking about. It's all about measuring. To make an efficient survey one thing you most have is time and money to conduct it - as a poorly conducted survey wastes both your time and the person taking the survey's time. Another important thing about creating a survey is that you know your product before you present it to your audience - as if you don't know your product, then how are your audience supposed to? Specific questions about improving the product you have chosen to create are important as finding ways to improve your product - even though you have a clear idea of how you want your product to look, smell, taste or even packaged. Taking a survey for my product would be a good idea as although I am confident with what my product would overall be like, I'd like to find out more about preference of colour and finish, rather than the product itself. As I know what my product is, I can ask my audience specific questions about specific parts of the product, for instance; I can ask what colour they think the eye shadow shades should be and why, and getting a repetitive answer from my audience members will show me what direction to go with this. The second form of Primary Market Research is Focus Groups. These involve gathering a group of people, preferable in physical form, although these are sometimes done virtually (online). The people gathered are usally a specific target demographic for the product in which is being the subject of this Focus Group. For instance, using this technique of research would be helpful as I could gather people who would be the ideal audience for my product and they could discuss the ins and outs of the product, what they like and don't like, whilst agreeing/disagreeing to particular things which could impact the product's success rates. Focus groups are excellent at revealing important flaws in things that could impact the product and wouldn't have been considered without this method. Focus groups can also be a post-survey beneficial, as you can delve in deeper to the topic mentioned in the survey and discuss the feedback throughout the group. The third type of Primary Research Method are interviews. Interviews are a qualitative research method, which involves one participant and one moderator (the interviewer) different from a Focus Group, where there are a number of participants. Interviews can be either free flowing, non-structured conversations, or they can be highly structured with specific questions which are specific to the topic. Either can be used to retrieve particular information, depending on the desired outcome of the interview. Interviews, like focus groups, are a useful form of exploratory research. Using this method can help dig into a specific issue in more depth, searching for customer problems and understanding psychological motivations and underlying perceptions. This form of research will come in handy whilst researching for my brand/product, as I can find out the specific preference's of my customer and/or audience, which may differ to the next and the feedback from each candidate will contribute to the product and how versatile it is. The fourth type of research method are Experiments and Field Trials. This consists of scientific testing, where variables and hypotheses can be tested. This form of research is quantitative as topics brought up through this type of research can be full of jargon, but demonstrate effective experiments. This method is able to maximise contributions in a major way. This is a way of finding a better product when two are being compared to one another; for example, if I had two types of packaging styles for my product, the test on stores in which their individual sales are measured would be done by using this method. The fifth and final Primary Market Research Method is Observation. This type of research can come in different shapes and sizes. Generally, there are two categories; strict observation, which has no interaction with the subject matter, or observation with some level of interaction between the research subject. This research can measure the actual behaviour opposed to behaviour of people on surveys, who often behave in another way when the rubber hits the road, in a way, the observation method gives a more realistic insight into what people think rather than using surveys, which are processed and not a non-direct reflection of them. There are many forms of observational research, such as; Usability Testing - watching a prototype being used by another, which can be done with or without intervention, Eye Tracking, where you measure where someone's eyes go using eye tracking technology which the fed back information can be used to help re-design or optimize elements of the product, Contextual Inquiry, a hybrid form of research involving interviews about subjects whilst the research observes the person being interviewed in their natural environment and recording their reactions.
Detailed Analysis of Audience
The age range for my product would be 16 upwards. The predominant majority of the audience would be female, although there would be some male audience members as the existing brand and use of products by them supports this. My product is aimed at a range of different people with a varied array of different backgrounds. For instance, sales and customer service occupations and professional occupations. In terms of psychographics, the main groups which my product would appeal to most would be The Explorers and The Succeeders. I say this because The Explorers tend to be explorers, always looking for something new and are first to try out new ideas and experience new things. They indulge in brands which offer a sensational produce and discovery is what makes them thrive. This would be my type of audience as my product is different to any other and has a professional finish when the product is used, which my Explorers would enjoy to do. The Succeeders usually have a lot of self confidence and seek out the best in the brand they choose. My brand would be ideal for them as my product will be of highest quality and the advert will show how the brand can increase one's confidence if this particular product is used. Geodemographically, my brand will expand to an audience all around the world, but as the product and brand are originally from Canada (Ontario) I would say the biggest market would be in Canada, to America and states surrounding them.
Legal and Ethical issues
One of the first issues that there could be with my advertisement is false claiming. If I were to mention something in my advert about the product in question that isn't true, such as it having beneficial qualities if you use it for X amount of time, this would be an issue that I would have to be sure not to oversee. Another issue that I have to be careful about not crossing is copyright - for instance, if my name or slogan (tagline) used within the advert is similar or even the same as another brand/products, this could become a huge issue and even end up with my brand being sued for copyright.
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