Topics: Marketing, Internet marketing, Target market Pages: 2 (751 words) Published: December 5, 2012
1.b. The current marketing budget allocation for Online Media is about 21% of the total media budget. We agree to the current budget allocation for the following reasons: * Online medium is perceived as high potential and high growth medium. As such it is critical to stay appropriately invested in the medium for the long haul * The online channel allows for more focussed targeting and brand communication. This is highlighted by an explicit mention of BBVA partners using proprietary data and algorithms to identify sites for display advertisements * The channel is easier to operate and monitor (easier to calculate ROI). This allows the management to measure the impact of their actions and take further actions appropriately * The channel also allows for flexibility for short term but high impact decisions. This could mean better focus on the target market or generating more eyeballs during either festive and sports events or any other local event attracting a lot of consumer attention * BBVA has identified their ideal target market as individuals in the age group of 25-54 with an annual household income of greater than 75,000 USD. This will be an increasingly net savvy segment and therefore an aggressive spend on the online medium is warranted * The captive market base for BBVA has typically been Mexicans and Latin American immigrants. An assumption that can be made here is that these would typically be individuals with blue collar jobs. BBVA aims to go main-stream with its consumers and diversify into the ‘more affluent’ consumer segments – typically be more internet savvy. Given the emphasis on increasing brand awareness and establishing itself in the consideration set of people, high upfront spending on online media is critical * Online media is also very successful in ensuring that an individual can see advertisements / displays multiple times. This would help in the subsequent stages of the brand check funnel. Multiple touch points with...
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