Respond to the following in a minimum of 175 words:
Imagine you are the product manager for a new Superbowl television ad. Discuss what you would measure to determine the effectiveness of that advertisement on the day it was shown, a month later, and six months later.
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After 6 months
Since after 6 months, ad will impact sales, effectiveness will be calculated as the ratio net increase in sales compared to previous 6 months to the net advertisement costs. This can give an idea of how effective the advertisement it. It would be considered as success if it’s greater than 1.
After 1 month
A survey would be conducted on the increase in positive buying behavior of the consumer and the effectiveness is calculated as percent increase in the positivity of the product to the percent of cost increase spent on advertisement. If the ratio is greater than 2, it is satisfactory.
After 1 day
Since after 1 day, not much change would be observed and therefore I would measure the effectiveness by net percent increase in ad impression to the net percent increase in advertising expenditure. If the ratio is greater than 3, it is desirable.
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We have had some big events hit this week including black Friday shopping on top of Thanksgiving. Speaking of big events the Super Bowl is the most anticipated and watched sports event all year in America. Over the past 5 years an average of 100 Million people tune in to watch the super bowl. According to Jennifer Calfas (2019), it is the most watched even all year and this year CBS is selling a 30 second airtime for the low price of $5.1 Million. Therefore it is extremely important for a product manager to understand the effectiveness of such an investment. One way to measure if your ad was a success is to see the online traffic of people visiting your site on the day of the Super Bowl. Then track it as time goes in the next month and 6 months out. Tracking the sales and revenue received after the ad was aired and base that in comparison to before. The question asked would be if the investment was worth it? If you are taking your company international the Super Bowl is the best place to air your product. In my opinion of course.
Calfas, Jennifer, (2019). Money.com: Here’s How Much It Costs to buy a Commercial During Super Bowl 2019. Retrieved from: http://money.com/money/5633822/super-bowl-2019-com…