Media Management for Commonwealth Bank: Targeting Potential Customers, Creating Brand Loyalty, and Engaging Customers

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Media Management

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Executive Summary
Technology has brought drastic change in the business industry. Every business organization is
adopting technology in order to perform as per the marketing environment and for the objective
of gaining positive outcomes. This report will discuss media plan for Commonwealth Bank
which is one of the largest banks in Australia. Apart from Australia, organizational
functionalities are expanded at global level and with a variety of services, organization has
acquired effective image amongst their customers. Media plan is the basic requirement for every
organization as it plays vital role in terms of promotion and advertisement of the organizational
products and services. Media plan helps the organization to approach to its existing as well as
potential customers along with approaching to the other customer segments. The first part of the
report will focus over profiling the target market of organization followed by the media
objectives of the organization with regards to their new media plan. In addition to this, the report
will also focus over selecting media categories along with selecting the media vehicles in order
to approach towards their target audience. The last part of the report will determine the media
cost in order to approach to its target customers in an effective manner at the lowest costs.

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Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Approaches of organization.............................................................................................................4
People...........................................................................................................................................4
Technology...................................................................................................................................4
Profiling/selecting target audience..................................................................................................5
Segmentation................................................................................................................................5
Demographic............................................................................................................................5
Geographic...............................................................................................................................5
Psychographic..........................................................................................................................5
Behavioural..............................................................................................................................5
Media objectives..............................................................................................................................6
Targeting potential customers......................................................................................................6
Creating brand loyalty..................................................................................................................6
Engaging customers.....................................................................................................................6
No difference between advertisement and reality........................................................................6
Promotion.....................................................................................................................................7
Creating brand artefact.................................................................................................................7
Media categories and vehicles.........................................................................................................7
Non-traditional mediums.............................................................................................................7
Third party website...................................................................................................................7
Social media.............................................................................................................................8
Online entertainment channels.................................................................................................8

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Traditional mediums....................................................................................................................8
Determining Media Cost..................................................................................................................9
Recommendation and Conclusion.................................................................................................10
References......................................................................................................................................11