What exactly is Media Mix?
Media Mix is basically the combination of several advertising channels that a brand uses in the promotion of a product or a service. When an Advertising Agency works on a campaign, the media mix is everything created by them for that product’s promotion.
For a Media Mix to be effective, the target segmentation must be done right. If a product’s demographic is well studied then this product will be better promoted. The better a Media Mix reflects its target, the more successful and well represented it is.
Image 1: Media Plan. The different ways to promote a product.
The various Media modes are:
-Print Media (Newspaper, Magazines)
-Broadcast Media (Radio, Television)
-Display Media (Billboards)
BUT the most important Media platform nowadays is the Digital Media. Everyone is ONLINE and the most effective marketing techniques are online.
AND in the Digital Media we can find 3 types of Media related to someone’s products or services:
The Purchased/Paid/Bought Media is “traditional” kind of advertising, where the company pays strangers to have their product or service shown in multiple platforms.
The Owned Media is the first thing a company should have set up. It’s their website and their social media. These are the first things a customer is going to search for ,and so, they need to be a big part of the Media Mix.
The Earned Media is basically the “fame” and the status the company has. The more people talk about the brand and the more people share or repost things related to the company, the more the company’s customer base grows.
FOR A BRAND TO BE SUCCESSFUL, THEY HAVE TO FIT EVERY KIND OF MEDIA, AND FOR A PRODUCT OR SERVICE TO BE WELL RECEIVED IN THE MARKETPLACE, THEY HAVE TO FIT ALL THE CRITERIA ABOVE.