Media Purchasing Plan for Viagra   Term Paper ID:38587 Click to get this paper

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Paper Abstract: Discusses a media purchasing plan by Pfizer, Inc. for Viagra, a precription drug targetig erectile dysfunction. Direct to Consumer (DTC) advertising campaign. Projected advertising budget. Targeted buyer profile. Paper Introduction: media purchasing plan pfizer Inc viagra Introduction and Media Purchasing Budget The major company selected for the development of this mediapurchasing plan is Pfizer Inc The specific product selected is Viagra aprescription drug targeting erectile dysfunction The media purchasing budget developed for this media purchasing planis based on a direct-to-consumer DTC advertising campaign for Viagra Sales of Viagra in contributed three-percent of total revenues forPfizer Inc Total Viagra sales were billion Hoover\'s Inc Pfizer Inc spent billion on advertising in in relation Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. Austin, Texas: Hoover's, Inc. Evaluating the significance of placement on recall of advertisements during the Super Bowl. Introduction and Media Purchasing Budget The major company selected for the development of this mediapurchasing plan is Pfizer, Inc. Pfizer, Inc. Journal of Public Policy & Marketing, 25(2), 197-211.Newell, S. Upper Saddle River, New Jersey: Prentice-Hall, Inc.Hoover's, Inc. Rationale The consumer magazines and television programs selected are not thosethat have the highest acceptance among the 18-49 year old age group. Theflighting pattern for network television programs is as follows:|Day of Week |Network |Morning |Prime |Total GRP ||Sunday |NBC |Meet the Press |NFL |2,8 || |CBS |Sunday Morning |6 Minutes |975 ||Monday |ABC |Good Morning | |11 || |NBC |Today |Heroes |885 || |CBS |Early Show |CSI Miami |145 ||Tuesday |ABC |Good Morning |Show the Money |89 || |NBC |Today |Law & Order CI |1665 || |CBS |Early Show |NCIS |145 || |Fox | |House |1 25 ||Wednesday |ABC |Good Morning | |11 || |NBC |Today | |185 || |CBS |Early Show |CSI NY |975 ||Thursday |ABC |Good Morning | |11 || |NBC |Today |The Office |2655 || |CBS |Early Show |Shark |111 ||Friday |ABC |Good Morning | |11 || |NBC |Today |Law & Order |1475 || |CBS |Early Show |Close to Home |1 5 || |Fox | |Trading Spouses |45 ||Saturday |ABC |College Football | |245 || | |Early Show | | || |CBS | |48 Hours Mystery |975 |6. Erectile Dysfunction Status: Anyone Perceiving That They Have A Problem Involving Erectile Dysfunction . M. Accessed on the Internet on 2 6-11-13 at: http://premium.hoovers.comIyer, G., Soberman, D., & Villas-Boas, J. Televisionadvertising audiences are measured by share of the total televisionaudience. Journal of Current Issues & Research in Advertising, 25(2), 57-67.Wamsley, M. The recommended consumer magazines are asfollows: o Modern Maturity: quarter page; $5.88 o Reader's Digest: half-page; $3.69 o Time: quarter page; $ 14.4 o Sports Illustrated: half-page; $15.35 o Newsweek: quarter-page; $11.295. The cost-per-thousand(CPM) characteristics of network television and consumers magazines,however, do not vary as widely (Newell & Wu, 2 3). The strategic media mix will be 5 percent network televisionand 5 percent consumer magazines.4. The media purchasing budget developed for this media purchasing planis based on a direct-to-consumer (DTC) advertising campaign for Viagra.Sales of Viagra in 2 5 contributed three-percent of total revenues forPfizer, Inc. Summary Budget|Month |Network Television|Consumer Magazines|Total ||January |$52 , |$52 , |$1, 4 , ||February |$52 , |$52 , |$1, 4 , ||March |$52 , |$52 , |$1, 4 , ||April |$52 , |$52 , |$1, 4 , ||May |$52 , |$52 , |$1, 4 , ||June |$4 , |$4 , |$ 8 , ||July |$4 , |$4 , |$ 8 , ||August |$4 , |$4 , |$ 8 , ||September |$52 , |$52 , |$1, 4 , ||October |$635, |$635, |$1,27 , ||November |$635, |$635, |$1,27 , ||December |$635, |$635, |$1,27 , ||Total |$6,25 , |$6,25 , |$12,5 , | ReferencesDavis, J. Marketing Science, 24(3), 461-476/Krugman, D. media purchasing plan: pfizer, Inc. GRP is calculated bymultiplying reach by average advertisement frequency. For the DTC-based advertising campaign for Viagra, the targeted buyerprofile will be as follows: o Sex: Male o Age: 45-7 o Race & Ethnicity: All o Annual Income Minimum: $3 , o Intimate Relationship Status: All o Health Status: . Accessed on the Internet on 2 6-11- 13 at: http://www.mediaed.org/ news/articles/SoftSellHardDrugs (2 6). (2 6, November 6). spent $1.3 billion on advertising in 2 5 in relation tototal sales in 2 5 of 51.3 billion (Hoover's, Inc., 2 6). Theconsumer magazines and television programs selected, however, have strongaudiences in the older male demographic targeted in this media purchasingplan (Iyer, Soberman, & Villas-Boas, 2 5).7. J., & Wu, B. (2 6, Fall). DTC advertising expenditures by the pharmaceutical industry in2 5 accounted for approximately 3 percent of total industry advertisingexpenditures (Wamsley, 2 6). CPM refers to the cost of reaching 1, households or individuals ina media vehicle's audience. CPM-TA refers to the cost of reaching 1, households orindividuals in a media vehicle's target audience (Davis, 1996). - viagra1. The projectedDTC advertising budget for Viagra for a one-year period is $12.5 million.2. (2 3, Fall). The CPM for network television advertising, therefore, reflectsthe number of impressions. Total Viagra sales were $1.645 billion (Hoover's, Inc.,2 6). Advertising research: Theory and practice. A., & Sung, Y. (1996). Recommendation of Specific Consumer Magazines The specific consumer magazines recommended for the DTC-basedadvertising campaign for Viagra are listed below. The absolute costs of television advertising are substantially greaterthan are the absolute costs of magazine advertising. The strategic media mix for the DTC-based advertising strategy forViagra is defined in the context of the CPM for each media group based onimpressions. Risk Status: No Health Risk Associated with Sexual Intercourse o Health Insurance Status: Covered The targeted buyer profile delineated above does not provide acomplete list of the characteristics of all persons who use Viagra. The targeting of advertising. (2 5, Summer). Included with themagazine identifications are recommended advertisement size and CPM-TAbased on total readership. Washington, D.C.: Media Education Foundation. The specific product selected is Viagra, aprescription drug targeting erectile dysfunction. DTC-based advertisingfor prescription drugs has steadily increased over the past decade withinthe contexts of both total advertising expenditures and as a proportion oftotal advertising expenditures for pharmaceutical products (Wamsley, 2 6). The basis for measuring impressions formagazine advertising is the total number of readers, as opposed to thecirculation of a magazine that provides the basic CPM. CPM is calculated by (a) dividing media costby the number of persons or households reached and (b) multiplying theresult by 1, . Strategic Media Mix The strategic media mix for the DTC-based advertising strategy forViagra includes only network television and consumer magazines. Based on the data presented above, the projected media advertisingbudget for Viagra for a one-year period is $41.6 million. Pfizer, Inc.: Products and operations. GRP is a measure of audience size. Thespecification of "network television" excludes cable television channelsfor purpose of this media purchasing plan. One rating pointequals one percent of the audience (Krugman, Morrison, & Sung, 2 6). Cigarette advertising in popular youth and adult magazines: A ten-year perspective. Thus, theCompany's total advertising budget approximates 2.53 percent of salesrevenues. A soft sell for hard drugs. CPM is used as a measure of cost efficiencyfor inter-media comparisons. Recommended Television Schedule The basis for the recommended television schedule is gross ratingpoints (GRP). Thetargeted buyer profile delineated above, however, does define the desiredtarget for Viagra.3. Targeted Buyer Profile Because the advertising campaign that is the focus of this mediapurchasing plan is a DTC-based advertising strategy, the targeted buyer isa consumer, although advertising campaigns for prescription drugstraditionally have targeted medical professionals. M., Morrison, M. 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