Advertising comprises of 5 M’s that influence five basic advertising decisions. These insights are completely different from one another but their effect on various factors makes them an important portion of Advertising. Every advertising campaign needs to be structured well. In the absence of a structure in place, the plan is bound to go haywire. Structure in a plan can be used to create brand value and equity, lack of it can deteriorate its image in the minds of the same.
Goal setting is one the most important parts of the 5 M’s. These goals are formulated keeping the advertising goals of the organization in mind. The objective can be either to launch a new product, promote an existing product, or diversify the product. Once a goal is fixed up, planning communication strategy is not difficult. (Source: Marketing 91)
Money includes the budget and the company’s resources. Money decisions are usually dependent on the client approval or on the organizational goals set by the enterprise. Then we move to the most important part- the messaging. As communication professionals, it is our foremost duty to formulate messaging customized as per the target audience.
The focus then shifts to our allies-the media. The media holds immense power in reflecting the public opinion and facts. Although some of the media may pander to sensationalism, the fact that they are hungry for a new story every single day, remains! The media is constantly looking to change up and create content for their viewers. (Source: Geek Tonight)
Lastly, Peter Drucker’s well known quote teaches us that, “You cannot improve what you cannot measure.” Measurement helps to measure the effectiveness of the messaging, campaign, or even an assignment. Through measurement one can adjudge the effectiveness of a marketing and communication endeavor and find out any gaps that need to be filled up. An integrated effort that helps advertisers, marketers, and communication professionals to build effective an powerful campaigns regularly!