Assessment – Media Plan BSBADV507

BSBADV507 Media Plan

Assessment Activity 1 – Knowledge Questions

Question 1

Outline and explain three data analysis techniques that can be used in a marketing context. Word count is approximately 25 words per explanation.

Multiple Regression Analysis

Multiple regression is the most commonly utilized multivariate technique. It examines the relationship between a single metric dependent variable and two or more metric independent variables. The technique relies upon determining the linear relationship with the lowest sum of squared variances; therefore, assumptions of normality, linearity, and equal variance are carefully observed. The beta coefficients (weights) are the marginal impacts of each variable, and the size of the weight can be interpreted directly. Multiple regression is often used as a forecasting tool.

Logistic Regression Analysis

Sometimes referred to as “choice models,” this technique is a variation of multiple regression that allows for the prediction of an event. It is allowable to utilize nonmetric (typically binary) dependent variables, as the objective is to arrive at a probabilistic assessment of a binary choice. The independent variables can be either discrete or continuous. A contingency table is produced, which shows the classification of observations as to whether the observed and predicted events match. The sum of events that were predicted to occur which actually did occur and the events that were predicted not to occur which actually did not occur, divided by the total number of events, is a measure of the effectiveness of the model. This tool helps predict the choices consumers might make when presented with alternatives.

Discriminant Analysis

The purpose of discriminant analysis is to correctly classify observations or people into homogeneous groups. The independent variables must be metric and must have a high degree of normality. Discriminant analysis builds a linear discriminant function, which can then be used to classify the observations. The overall fit is assessed by looking at the degree to which the group means differ (Wilkes Lambda or D2) and how well the model classifies. To determine which variables have the most impact on the discriminant function, it is possible to look at partial F values. The higher the partial F, the more impact that variable has on the discriminant function. This tool helps categorize people, like buyers and nonbuyers.

Outline and explain data matching in marketing. Word count is 50 words.

Data-matching involves bringing together data from different sources and comparing it. Agencies that carry out data-matching must comply with the Privacy Act 1988 (Privacy Act).

Question 2

List five organisational budget and resource constraints that an organisation may face when the planning and execution of an advertising. Word count is not critical for this question, however, your responses must be relevant and specific to the advertising context.

A master budget – A master budget is a comprehensive projection of how management expects to conduct all aspects of business over the budget period, usually a fiscal year. Therefore, this budget is an annual budget for the whole fiscal year, however this budget can be broken down into quarters or even each months.

Overhead budget – OVERHEAD BUDGET shows the expected cost of all production costs other than direct materials and direct labor. Budgeted variable overhead costs are based on a budgeted variable overhead rate multiplied by budgeted activity. Budgeted fixed overhead costs remain unchanged as the activity level changes within the relevant range.

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all production costs other than direct materials and direct labor. Budgeted variable overhead costs are based on a budgeted variable overhead rate multiplied by budgeted activity. Budgeted fixed overhead costs remain unchanged as the activity level changes within the relevant range.

A Cash budget – An estimation of the cash inflows and outflows for a business or individual for a specific period of time. Cash budgets are often used to assess whether the entity has sufficient cash to fulfill regular operations and/or whether too much cash is being left in unproductive capacities.

Budgeted balance sheet – The budgeted balance sheet contains all of the line items found in a normal balance sheet, except that it is a projection of what the balance sheet will look like during future budget periods.

Purchasing budget – to monitor and measure the money spent when purchasing things for the business. A purchases budget is just one facet of a company’s overall functional budget strategy. The budget differs from a profit or expense budget because the focus of the budget is on determining the organization’s requirements for materials purchases and inventory.

Question 3

Using the table format below, list four types of advertising media. For each media, list three characteristics and an advertising strategy. Word count is approximately 20 words per strategy.

Question 4

List and explain five key provisions of relevant legislation, codes of practice and national standards that impacts on the advertising activities in an organisation. With each, explain why this is relevant to advertising. Word count is approximately 50 words per item.

All staff have a responsibility to comply with legislation, departmental policy, procedures. They must perform their duties effectively, provide impartial and accurate advice and act in a manner that promotes a productive and harmonious working environment.

Anti-Discrimination Act 1977

Child Protection Legislation Amendment Act 2003

Children and Young Persons (Care and Protection) Act 1998

Commission for Children and Young People Act 1998

Education Legislation Amendment (Staff) Act 2006

Government and Related Appeals Tribunal Act 1980

Occupational Health and Safety Act 2000

Question 5

List and explain five ethical principles relating to advertising industry. With each, explain why this is relevant to advertising. Word count is approximately 50 words per item.

Codes of practice

Most codes and regulations are to stop injury and illnesses as possible. These are the main codes and legislations which are implemented during the event:

Health, safety and welfare act.

Alcohol consumption regulations

Duty of care

Competition and customer…

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