Besides auctions, YouTube also permits advertiser to buy on a reservation basis. Advertisers pay a fixed rate based on the number of impressions (CPM) or on per day (cost-per-day) basis.
Benefits of advertising on a reservation basis include improved control on execution and spend, higher visibility of ads (these ads can also run on the YouTube homepage) and wider reach.
Reservation is vital when initiatives are time bound, for instance, the launch of a new product, or a limited-time offer. Reservation is also better suited for advertising to a mass market, such as for enhancing perceptions and sustaining interest in big consumer goods brands. Auctions on the other hand, work better for more narrowly targeted marketing initiatives.
Marketing has changed. More so in practical terms, and marketing education is lagging.
The fundamental change lies in the application of analytics and research. Every aspect of the marketing mix can be sensed, tracked and measured.
That does not mean that marketers need to become expert statisticians. We don't need to learn to develop marketing mix models or create perceptual maps. But we should be able to understand and interpret them.
MarketingMind helps. But the real challenge lies in developing expertise in the interpretation and the application of market intelligence.
The Destiny market simulator was developed in response to this challenge. Traversing business years within days, it imparts a concentrated dose of analytics-based strategic marketing experiences.
Like fighter pilots, marketers too can be trained with combat simulators that authentically reflect market realities.
But be careful. There are plenty of toys that masquerade as simulators.
Destiny is unique. It is an authentic FMCG (CPG) market simulator that accurately imitates the way consumers shop, and replicates the reports and information that marketers use at leading consumer marketing firms.
While in a classroom setting you are pitted against others, as an independent learner, you get to play against the computer. Either way you learn to implement effective marketing strategies, develop an understanding of what drives store choice and brand choice, and become proficient in the use of market knowledge and financial data for day-to-day business decisions.