- 20 Marks
Question
Selection of the right media and sending right messages are the means by which Advertising objectives are achieved. It involves the need for expertise which is normally provided by Advertising Agencies. In your role of a Marketing Consultant of a bank, the Head of Marketing and Corporate Affairs of the Bank has asked you to write a report explaining six (6) criteria that will guide them in the selection of a right Advertising Agency.
(20 marks)
Answer
As a Marketing Consultant with experience advising banks like Access Bank Ghana, this report outlines criteria for agency selection, ensuring alignment with BoG’s advertising guidelines for truthful promotion post-DDEP.
Six Criteria (approx. 3.33 marks each, total 20 marks):
- Creative Expertise and Portfolio: Evaluate past campaigns for innovation, e.g., agencies handling GCB’s digital ads, ensuring resonance with Ghanaian audiences.
- Understanding of Financial Sector: Agency must know regulations like BoG’s consumer protection, avoiding mis-selling risks seen in past scandals.
- Media Buying and Planning Capabilities: Strong negotiation for cost-effective placements, e.g., TV/radio slots, optimizing budgets under economic constraints.
- Track Record and References: Proven success with banks, like Stanbic’s partners boosting brand awareness by 25%, with verifiable client feedback.
- Cost Structure and Value for Money: Transparent fees aligning with ROI, compliant with prudent management per Basel principles.
- Digital and Technological Proficiency: Expertise in online ads, crucial for post-2024 trends, including analytics for measurable outcomes per topic 9.2
- Tags: Advertising Agencies, Advertising Objectives, Criteria, Media Selection
- Level: Level 4
- Topic: Developing the promotional mix
- Series: APR 2024
- Uploader: Samuel Duah