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Masterarbeit, 2008, 75 Seiten
2. Media planning
2.2. Classification of media planning into marketing planning
2.4. Target group segmentation
2.4.1. Segmentation criteria
2.4.2. Target group segmentation online
2.5. Media strategy
2.6. Media selection programmes
2.7. Requirements for optimal media planning: Elements and process
3. Online as advertising medium
3.1. The importance of online advertising
3.2. Brief overview of the history of online advertising
3.3. The current state of the industry
3.4. Online advertising formats and performance measurement
4. Targeting Online
4.1. Geo Targeting
4.2. Prime-Time Targeting
4.3. Technical Targeting
4.4. Profile Targeting
4.5. Contextual Targeting
4.6. Keyword Targeting
5. Behavioural Targeting
5.1. Three different types of Behavioural Targeting
5.1.1. Affinity-based Behavioural Targeting
5.1.3. Predictive Behavioural Targeting
5.2. Behavioural Targeting in practice
5.3. Requirements for successful Behavioural Targeting
5.4. The process of BT
5.5. A Behavioural Targeting SWOT-Analysis
6. Current state of affairs in BT
6.1. The international development of Behavioural Targeting
6.2. Demands on Behavioural Targeting and recommended course of action for media planners
6.3. Case Study
6.4. Future outlook
7. Summary and final remark
8.2. Articles in collected editions
8.3. Journal articles
8.6. List of figures
Consumers today are in the focus of a wide range of companies in a more and more global world, all of which implies an increase of marketing activities and hence an increase of advertising effort. Hundreds or even thousands of advertising messages are put in front of consumers every day through various media channels. However, every targeted customer has a very limited ability of perceiving advertising messages and even a smaller percentage of what has been recognized is considered as being relevant. Therefore consumers quite often feel harassed and overloaded by the mass of information, the quality of advertising and the context in which it is shown, and react protective towards advertising, especially when they do not belong to the target group of the advertised product or service. This implies a great amount of budget wastage and a potential damage to brand images, since too many consumers are targeted with the wrong advertising message.
Furthermore media consumption has changed over the years, while the consumption of TV for instance remains stable, the internet consumption increases dramatically, in the younger target groups it has already outgrown the TV consumption, and therefore an attenuation of this trend can be expected.
This means more and more prospective consumers will spend more and more time online and are therefore important potential targets for advertising campaigns. Keeping in mind the negative consequences of the irrelevant and too intense advertising the question arises if there is a way to avoid the drawbacks of offline media and use the opportunities offered by online media. The necessity of defining the right target group for an advertising campaign is as undoubted as the difficulties implied in that process, the end product being able to target the right persons online. Behavioural targeting might offer a way to analyse online media and therefore to contribute to the requirements for optimal media planning in order to achieve a high degree of efficiency.
Against the background of the increasing interest in behavioural targeting an examination of its potential importance for marketing will be conducted in this paper in order to asses if behavioural targeting can increase the efficiency of media planning in online media.
The foundation for this paper is provided by the description of media planning in general, its objectives including the target group segmentation, media strategy and selection programmes and concluding by summarizing the requirements for optimal media planning.
In order to systematize the subject area of behavioural targeting an insight into online advertising is provided. This thesis aims to preserve an international scope, however due to the fact that the actual maturity of the online media industry is at very diverse stages worldwide, focus will be on the U.S. and selected countries in Europe such as Germany, France, the UK and Scandinavia.
The focus of this thesis is online display advertising which comprises both branding and performance advertising but excludes search, meaning the use of text links on web pages.
Behavioural targeting is one of several online targeting methods; therefore the different principles of targeting are reviewed in order to frame behavioural targeting in this context.
Three major approaches to behavioural targeting exist: ‘Affinity-based’, ‘Predictive’ and ‘Re-targeting’. These will be examined along with a model process of applying behavioural targeting.
A behavioural targeting SWOT- Analysis frames the current merits and shortcomings of the methods, and a presentation of the current state of affairs gives an overview of the current maturity state of the technology in practice.
Based on the behavioural targeting SWOT-Analysis and concluding an future outlook shall be dared and furthermore a summary with a final remark on the importance of behavioural targeting regarding media planning.
In order to evaluate if behavioural targeting can form the basis for efficient media planning, the theoretical foundations of this discipline need to be explained. This includes the objectives and the requirements for optimal media planning as well as a description of existing media selection programmes. Furthermore an evaluation of the importance of the medium Internet compared to traditional media channels is provided since it constitutes the basis for behavioural targeting itself and its relevance for media planning.
“Within the communication-mix media planning deals with the decisions concerning the applied media vehicles, with the selection of media which best meet the aimed marketing objectives and the identification of the optimal media-mix (…).”
The prime objective of media planning is a highly efficient way of conveying the advertising message to the right target group with optimal timing. Therefore channels of media need to be drafted, analyzed and selected in order to meet the defined communication objectives. 
As a result media planning is part of the communication-mix. The table below shows the different media channels, which is one element of marketing planning next to the product-, distribution- and price-mix. Those elements add up to the marketing-mix, which is “a combined and coordinated assignment of the marketing-instruments with the objective of reaching the enterprise and marketing targets as efficient as possible in a harmonious adaptation of the instrument’s specifications.”
Marketing planning contains various sub-mix category groups, which add-up to the marketing-mix and the table below demonstrates the challenge to find the appropriate coordination.
illustration not visible in this excerpt
Figure 1: Based on Bruhn (2007): Classic marketing instruments (4Ps) in the marketing-mix.
Media objectives are derived from the advertising strategy and should define what the media planning has to accomplish. Media objectives have two components, the audience objectives and the message-distribution objectives, meaning to “reach a defined percentage of the target group (therewith the reach of the media plan is addressed) with a certain advertising impact (therewith the frequency is addressed with which persons within the target group should be reached)” Reach and advertising impact or frequency respectively are competing objectives owing mainly to budget reasons. A high reach normally does not allow a high frequency and vice versa, so either the reach or the frequency is too low which symbolizes one dilemma in media planning. This dilemma is addressed with the Gross Rating Points (GRP) which means a multiplication of reach with frequency. Next to other objectives, these three are the most common in media planning and should be explained further.
These address the definition of the target group by the media planner and will be discussed in depth under section 2.4. However, it can be said that the customer types an advertiser wants to reach are not congruent with the target groups a marketing manager wants to reach, since the advertising targeting group is usually rather more focused than the more comprehensive marketing target group, therefore a conversion from the marketing target group to the media target group is necessary. 
Message distribution objectives
“The percentage of the target audience exposed to an advertisement in a given time period” Reach refers to the total number of people or households covered by the campaign, meaning they are exposed to the advertisement, but it does not necessarily imply that they also consume it. They simply have the “Opportunities to see (OTS):The cumulative exposures achieved in a given time period, usually used in media planning in place of frequency.” A certain percentage of reach or maximized reach represent one of the most important objectives of media planning.
“The number of times an individual member of the target group is exposed to an advertisement in a given time period”
Frequency goes hand in hand with reach and is very important because the more often a target person is exposed to an advertisement the better this person remembers it. A specific degree of repetition or frequency respectively is another important objective.
3. Message weight
Through application of reach and frequency the message weight can be determined and therefore the optimal level for the campaign spending can be identified. The message weight is expressed by the “Gross Rating points: A summary statistic for the achievement of a media plan, calculated by multiplying reach by frequency”.
Reach X Frequency = GRP, meaning the multiplication of the percentage rating of all households who had been exposed to the campaign with the number of the times the households had been exposed results in the message weight in percentage or the gross impressions. Since media campaigns are normally on a tight budget it is of high importance to find the optimal message weight in order to avoid wastage.
Within a given time period of a campaign, continuity refers to the media schedule. There are three patterns of media continuity, 1. Continuous advertising: A constant schedule which is very rare, 2. Flighting: The media effort is varied, but there are also times where there are none at all and 3. Pulsing: A variation of media efforts with no interruption, typically with a “heavy up” before prime selling times and less spending in off-seasons or anti-cyclical to the sales curve. 
As already mentioned frequency is important to create recall, but the pattern of continuity has to manage to sustain that recall. All three objectives reach, frequency and continuity are important and reciprocal. A limited budget makes it impossible to pursue all objectives to the same extent and every media planning situation is different. Therefore a great disunity in the advertising industry exists since there is no panacea for the determination of reach, frequency and continuity objectives. 
Every campaign is planned in a unique situation, which creates uncertainty as how to set the media objectives; the only solution to that problem is a profound research phase and thoroughly balancing the results with the experience of the media planner.
Considering the definitions of the terms reach, frequency and continuity it becomes clear that they do not state anything about the quality of the exposure. This is described by the effective reach, which “measures the number or percentage of the audience who receive enough exposures to truly receive the message.” The same concept accounts for the effective frequency: “A hypothetical construct that attempts to estimate the number of OTS required to have an effect in the target audience”
Frequency has been stated as being the most important media objective, but the question remains how to analyze what effective frequency is, how often people have to be exposed to a campaign until it creates awareness and recall. Therefore a suggested solution is to evaluate the specific situation and set an individual optimum level of reach, frequency, message weight and continuity accordingly.
It becomes clear that there are no set standards in the advertising industry defining media objectives, therefore a strategy to achieve those objectives can only be created under uncertainty.
In order to provide a foundation for the chapter, the following definition shall be the basis: “A target group is a circle of decision maker, purchaser and consumer to which marketing efforts are aimed at. In advertising these are groups of persons and/or institutions to which the advertising effort is aimed at in the form of physical approach (distribution) and sales approach and accordingly argumentation (presentation) in order to reach the advertising objectives most efficiently.”
Target group segmentation results from market segmentation, which has been conducted within the strategic marketing planning. Those segments represent the foundation of the target group segmentation but cannot be adopted without adaptation based on various segmentation criteria which will be discussed under point 3.2.
The objective of target group segmentation is a more appropriate adjustment of the marketing activities to the needs and the behaviour of the consumer. Therefore there are two groups of consumer characteristics: Some criteria allow an interpretation of future consumer behaviour (nr.1-4) and some are based on actual decision and information behaviour (nr. 5).
1. Demographic segmentation
Demographic segmentation is the best known criteria and covers aspects such as age, sex, family status and size of household.
2. Geographic segmentation
Another simple way of approaching the target group definition is the geographic segmentation, which refers to the fact that purchasing behaviour varies from region to region. The combination of demographic and geographic segmentation is described as geodemographic segmentation.
3. Socioeconomic segmentation
The socioeconomic criteria are characteristics such as education, occupation, income, purchase power, resources and its combination into social class.
A clear separation between the criteria within the demographic, geographic and socioeconomic segmentation is hardly possible, therefore a reasonable combination needs to be found. The advantage of these three segmentation approaches is straightforwardness, since information is most often available from secondary sources. However, their disadvantage is the fact that the gathered information is too simple and does not allow any conclusion regarding the purchasing behaviour of the target group. This makes them misleading in the sense that they pretend the target persons within one segmentation criteria are alike in their way of purchasing.  
4. Psychographic segmentation
The criteria refer to general personality traits such as activities, interests and attitudes, furthermore expectations regarding the benefits, motives and purchase intentions and so forth. Compared to the first three criteria the psychographic approach has a greater control mechanism regarding the creation of the advertising message since it refers to the feelings and disposition of the consumer and vice versa the psychographic criteria can be influenced by the advertising message. 
5. Behavioural segmentation
Examples of behavioural criteria are point of purchase as well as quantity and frequency, mouth-to-mouth-communication and use of media behaviour, therefore these criteria are the result of advertising effort. The behaviour can be interpreted for future advertising campaigns and target group segmentation respectively and hence give an indication of how the target group might behave, of course without any validation. Some information for the behavioural segmentation such as sales figures and so forth is easily available but data concerning the communicational behaviour of the consumer is rather difficult to obtain. 
Considering the advantages and disadvantages of the individual segmentation approaches an isolated selection of segmentation criteria would lead to a misinterpretation and therefore false definition of the target group. Therefore a balanced combination of the described criteria is necessary in order to cover all consumer and their characteristics. This is done by so called typologies, which contain target group descriptions based on the various criteria and segmentation dimensions leading to better target group definitions and higher marketing efficiency.
The dilemma of the definition of the target group becomes obvious considering the wide range of criteria and sub-categories, especially when several target groups should be addressed.
The research regarding Internet segmentation is still in its infancy. Segmentation online was of no interest to media planners and advertisers before 1997, at that stage 76 million people worldwide used the internet and were an homogenous group of middle- and upper-income men with a high education and interested in gaining information online.
This has drastically changed; in 2008 an estimated number of 1.5 billion people worldwide are internet users as well as striking changes in the structure of the internet user occurred, “the typical online user does not exist (anymore)” .
The fast global growth of internet usage exacerbates the need to identify those users with similar characteristics and segment them for the purpose of maximizing advertising effectiveness and efficiency.
In order reach an efficient spending of the budget, there are several objectives of the segmentation effort online:
1. Identifying and characterizing heavy Internet users
2. Identifying likely targets for new technologies
3. Improving existing web site design and navigation
4. Focusing Internet advertising efforts for greater impact.
However, the approach for segmentation online is based on traditional segmentation variables such as socio-demographics, geographics and psychographics as well as behavioural criteria, which are in the sense of Internet segmentation also divided into product/service-based variables (Internet usage and motives) and consumer-based variables (demographics and product-related attitudes).
Schumann/Thorson (2007) have carried out a survey in order to analyze the extent to which these variables commonly used in traditional media planning work within the context of the Internet. The overall finding was that it is strongly recommendable to combine traditional segmentation criteria in order to define target groups online.
Concluding from the survey it can be said that both product/service-based variables and consumer-based variables are useful for segmenting online and predicting online behaviour.
Within predicting online behaviour the product/service-based variables, meaning the Internet usage and usage motives, are better for predicting the frequency for online shopping, while the consumer-based variables, meaning the product related attitudes are better to predict the attention to Internet advertising. Therefore a combination of variables is appropriate for online segmentation as well and a match of segmenting with outcome variables useful in order to increase the probability of the prediction.
Since those findings are related only to one survey more research is necessary in order to identify useful ways for target group segmentation online as not all possible variables, for instance demographics, have been examined. Furthermore the relationship between Internet attitudes and behaviour has not been investigated very well yet.
So although the current state of research is not very sophisticated yet, the approach of using traditional segmentation criteria in a combination seems to be common and useful in order to define target groups online.
The question arises how behavioural targeting identifies the relevant target groups and what kind of criteria is used in order to find a meaningful segmentation. In order to give an insight to the possibilities and limitations of behavioural targeting, it should be seen in the context of the other targeting methods since a combination of those is executed in the online advertising industry and quite common. The other targeting methods are of importance because they influence the efficiency of behavioural targeting and should therefore be explained in section 4.
Once the media objectives have been set, a media strategy must be formulated in order to achieve the objectives. Therefore is the media strategy “the description of the ways and means with which the media objectives of an advertiser should be achieved.”
Abbildung in dieser Leseprobe nicht enthalten
Figure 2: Based on Koschnik (1995): Criteria for media selection in the media planning process
Important decisions to be made in the media strategy are the determination of which media are most suitable in order to convey the advertising message most efficiently to the target group, and furthermore the balance of media meaning the determination of the media mix.
As described in Figure 2 four criteria are critical in order to select the media types in the media mix:
1. Technical criteria determine the feasibility of a campaign from a technical point of view, which is of particular importance in online-advertising. Production costs for online formats can be disproportionally high compared to the budget and are therefore another criterion.
2. Qualitative criteria refer to the quality of the media contact, which can influence the advertising message in a positive or negative way and is therefore the “impression of the media”.
3. Quantitative criteria cover the operating figures or objectives of media planning respectively, which have been described under 2.3.
4. Administrative criteria “comprise for instance the degree of flexibility and lead time of a campaign booking, the allowed design options of the advertising media regarding interaction and individualisation options as well as binding character of the placement etc.”
Furthermore in order to weight the media channels, five categories influence the strategy:
1. The target market
Research is necessary in order to analyze the prospect consumer's buying behaviour and decision criteria, leading to s decision as to which media effort is necessary to induce the purchase.
2. The budget
Using intuition and experience and analyzing the competitor's spending the budget needs to be determined and distributed across media type and geographic areas.
All communication vehicles may be used and it needs to be decided which ones will best achieve the set objectives. This is different in every situation and market but a mixed-media approach has several advantages:
a) Target persons, who cannot be reached with only one medium, can be reached with a media-mix.
b) Saturation and wear-out effects through a single-media strategy can be avoided
c) The communication impact can be strengthened via the usage of interaction and transfer effects and enable synergy effects.
d) The possibility of both addressing persons with highly emotional involvement as well as highly cognitive involvement.
e) Repetition of exposure or frequency can be obtained in a less expensive secondary medium after an optimum reach with a first medium has been achieved.
f) The creative effectiveness of a campaign can be increased by using a second medium 
A central element of the media mix or the strategy respectively is the timing of the campaign, meaning whether the campaign should be placed continuously, pulsing or flighting. Furthermore decisions on spot length and sizes of print advertisements need to be made.
The methodology represents the overall strategy of selecting and scheduling media in order to achieve the target message weight, reach, frequency and continuity. In order to determine the optimal media mix media selection programmes are applied, which will be explained in section 2.6.  
Media selection has the intention of distributing the given advertising budget with the objective of reaching maximum advertising impact. Media selection can be divided into intra-media selection and inter-media selection. The inter-media selection describes "the budget allocation to the respective forms of appearance of one instrument" (compare to Figure 1: communication mix). In order to compare the different forms, heuristic methods such as scoring-models, equation/checklists and portfolio-analysis are used. The intra-media selection means "the division of the budget of the respective forms to the several media" in order to reach the objectives discussed under section 2.3.
The overall objective is creating a media-mix with a division of the advertising budget to several media in such a way that with no other allocation a greater advertising impact could have been realized. There are three model-supported methods to reach this objective:
1. Ranking methods
2. Evaluation methods
3. Optimization methods
1. Ranking methods
Ranking methods are computer-based methods, where the potential media types are listed by the media planner, after which a ranking is calculated by the computer. This ranking depends on performance criteria such as reach, GRP or cost-per-thousand ad impressions (CPM), which are related to the resulting costs. The product is a list of media, which are ranked by their return-on-investment (RoI). CPM is the most common key performance indicator (KPI); it indicates the costs incurred to reach 1000 contacts in the target group. Through value-based assesment of the target group in relation to the used media, the Return-on-investment is in the focus of this method.  
Criticisms of ranking methods point out the isolated approach, the disregard of qualitative differences and non-distinction of primary and repeated contacts. Therefore ranking methods are mostly used for a pre-selection of the eligible media types. 
2. Evaluation methods
After a pre-selection of different media types a range of media-mix plan alternatives are created by the media planner. Within those plans the different media types and placement intensity vary and are then evaluated by a computer program on the basis of different criteria, e.g. reach, CPM and frequency. The program therefore locates the best solution out of the media plans created by the media planner. A great disadvantage is that selection only takes place within a narrow set of alternatives, and the best solution might lie outside of this set owing to the limited knowledge and experience of the media planner.  
3. Optimization method
Optimization methods are also computer-based programs, which analyze the optimal media plan, relying on the defined target such as maximized target group reach, efficient cost-performance-relationship and so forth, as well as constraints such as budget, obligatory media etc. Optimization methods are based on mathematical methods such as linear programming and do not consider contact-overlapping, -allocation or frequency and therefore do not live up to the expectations of media planning and are for that reason hardly used anymore in practice.
The most common method despite its disadvantages is the evaluation method, because it involves a multitude of criteria and is therefore best suited to find a solution for a successful media plan. 
The situation in online media planning differs from the initial situation of traditional media since in contrast to offline media, where the campaign can be optimized on the basis of several possibilities before it is placed and then evaluated after it has been run, an online campaign can be optimized in the course of its placement based on the permanent measurement of media performance.
Starting with a ranking method to pre-select different options is very common in online media planning; reach and frequency are as important index numbers as in traditional media planning. A big difference here is the ability – via cookies – to completely control the actual frequency. Next to those numbers the quality of the contacts is of high interest, meaning whether the target group has been reached with the advertisement Here the cookie-based approach is an advantage, as you can objectively demonstrate exactly who got the ad how many times. Starting with the ranking method tends to result in coarse media planning in the first few weeks, which means a waste of time and money and therefore less efficiency before the target group online is actually reached.
In this paper it will discussed under section 5 if behavioural targeting can deliver a solution to that drawback and enables media planners to set up an efficient media plan before the campaign, and continuously improving it while minimizing waste.
This chapter has examined the requirements for optimal media planning and can be summarized in the following elements:
1. The foundation are clearly defined and set marketing objectives such as for example market share and sales increase as well as communication objectives which intend to influence the attitudes and motivations of consumer provide the foundation for meaningful media objectives.
 Cp. Hamm, Ingo: Internet-Werbung – Von der strategischen Konzeption zum erfolgreichen Auftritt, Stuttgart 2000, Schäffer-Poeschel Verlag, p. 45
 Cp. Koschnik, Wolfgang J: FOCUS-Lexikon Werbeplanung, Mediaplanung, Marktforschung, Kommunikationsforschung, Mediaforschung, in: http://relaunch.medialine.de/PM1D/PM1DB/PM1DBF/pm1dbf_koop.htm?snr=6281 / 10.09.2008
 Cp. EIAA, in: http://www.eiaa.net/news/eiaa-articles-details.asp?id=154&lang=1 / 10.09.2008
 Koschnik, Wolfgang J.: Standard-Lexikon für Mediaplanung und Mediaforschung in Deutschland, Band 2, L-Z, 2. edition, München 1995, Saur Verlag, p. 1230 (Translation by the author)
 Cp. Unger, Fritz/Durante, Nadja/Gabrys, Enrico/Koch, Rüdiger/Wailersbacher, Rainer: Mediaplanung – Methodische Grundlagen und praktische Anwendungen, 5. edition, Berlin Heidelberg 2007, Springer Verlag, p. 2
 Cp. Arens, William/Weigold, Michael F./Arens, Christian: Contemporary advertising, 11. edition, Boston 2008, McGraw-Hill/Irwin, p. 271
 Bruhn, Manfred: Kommunikationspolitik – Systematischer Einsatz der Kommunikation für Unternehmen, 4. edition, München 2007, Verlag Franz Vahlen, p. 11 (Translation by the author)
 Cp. Koschnik, 1995, p. 1230-1231
 Cp. Bruhn, 2007, p. 11
 Cp. Arens/Weigold, 2008, p. 280
 Unger, 2007, p. 5 (Translation by the author)
 Unger, 2007, p.
 Cp. Tellis, Gerard J./Ambler, Tim: The SAGE Handbook of Advertising, Los Angeles 2007, SAGE Publications, p. 308
 Cp. Löffler, Jens: Media – Planung für Märkte, 7. Edition, Hamburg 2004, Axel Springer Verlag, p. 19
 Cp. Arens/Weigold, 2008, p. 280
 Percy, Larry/Elliott, Richard: Strategic Advertising Management, 2. Edition, New York 2005, Oxford Press, p. 165
 Cp. Tellis/Ambler, 2007, p. 301-302
 Cp. Arens/Weigold/Arens, 2008, p. 283
 Percy/Elliott, 2005, p. 165
 Cp. Tellis/Ambler, 2007, p. 284
 Cp. Arens/Weigold/Arens, 2008, p. 284-285
 Cp. Barban, Arnold M./Cristol, Steven M./Kopec, Frank J.: Essentials of media planning, 2. edition, Chicago 1987, NTC Business books, p. 57-58
 Cp. Arens/Weigold/Arens, 2008, p. 285
 Cp. Barban/Cristol/Kopec, 1987, p. 61
 Arens/Weigold/Arens, 2008, p. 285
 Percy/Elliott, 2005, p. 165
 Arens/Weigold/Arens, 2008, p. 286
 Pepels, Werner: Marktsegmentierung: Erfolgsnischen finden und besetzen, 2. Edition, 2007 Düsseldorf, Symposion Verlag, p. 264 (Translation by the author)
 Cp. Bruhn, 2007, p. 192
 Cp. Pepels, 2007, p. 268
 Cp. Percy/Elliott, 2005, p. 70-72
 Cp. Bruhn, 2007, p. 196-197
 Cp. Arens/Weigold/Arens, 2008, p. 173-174
 Cp. Ibid. p. 196
 Cp. Bruhn, 2007, p. 197
 Cp. Arens/Weigold/Arens, 2008, p. 177
 Cp. Pepels, 2007, p. 268
 Cp. Bruhn, 2007, p. 197
 Cp. Deyle, Hanno-G.:Mit neuen Segmentierungsverfahren zu besseren Zielgruppendefinitionen, in: Diller, H.(ed.): Zielgruppen finden und überzeugen, 2006, Wiss. Ges. für Innovatives Marketing, p. 109
 Cp. Barnett, Alex: http://blogs.msdn.com/alexbarn/archive/2005/10/08/478598.aspx/ 24.7.2008
 Cp. Schumann, David W./Thorson, Esther: Internet advertising – Theory and reserach, New Jersey 2007, Erlbaum Associates Inc., p. 150
 Cp. Internet Usage Statistics; http://www.internetworldstats.com/stats.htm/ 204.7. 2008
 Fittkau, Susanne: Nutzer und Nutzung des Internets in: Schwarz, Torsten (ed.): Leitfaden Online Marketing – Das kompakte Wissen der Branche, Waglhäusel 2007, marketing-Börse GmbH, p. 139
 Schumann/Thorson, 2007, p. 152
 Cp. Bogner, Thomas: Strategisches Online Marketing, Wiesbaden 2006, Deutscher Universitäts-Verlag, p. 60
 Cp. Schumann/Thorson, 2007, p. 153-156
 Cp. Ibid. p. 163-164
 Cp. Schumann/Thorson, 2007, p. 170-179
 Koschnik, 1995, p. 1236 (Translation by the author)
 Koschnik, 1995, p. 1236
 Cp. Gärtner, Sandra: Die Währung für Online-Werbung, Köln, 2007, EUL Verlag, p. 16
 Ibid. p. 17 quoting Abel, Bodo: Medienmarketing im Werbemarkt (powerpoint presentation), 2005, p. 45
 Cp. Gärtner, p. 17 quoting Abel, Bodo: Medienmarketing im Werbemarkt (powerpoint presentation), 2005, p. 48-53 (Translation by the author)
 Cp. Koschnik, 1995, p. 1217-1221
 Cp. Arens/Weigold/Arens, 2008, p. 297-298
 Cp. Barban/Cristol/Kopec, 1987,p. 71-76
 Cp. Koschnik, 1995, p. 1216-1225
 Cp. Arens/Weigold/Arens, 2008, p. 286-287
 Cp. Koschnik, 1995, p.855+1236
 Bruhn, 2007, p. 298
 Ibid. p. 301 (Translation by the author)
 Cp. Ibid. p. 323-324
 Cp. Schweiger, G/Schrattenecker, G.: Werbung, 6. Edition, Stuttgart 2005, Lucius & Lucius Verlag, p. 303
 Cp. Bruhn, 2007, p. 324
 Cp. Koschnik, Wolfgang J: FOCUS-Lexikon Werbeplanung, Mediaplanung, Marktforschung, Kommunikationsforschung, Mediaforschung, in: http://relaunch.medialine.de/PM1D/PM1DB/PM1DBF/pm1dbf_koop.htm?snr=4682/ 18.7.2008
 Cp. Bruhn, 2007, p. 325
 Cp. Koschnik, Wolfgang J: FOCUS-Lexikon, in: http://relaunch.medialine.de/PM1D/PM1DB/PM1DBF/pm1dbf_koop.htm?snr=4682/ 18.7.2008
 Cp. Schweiger/Scharttenecker, 2005. p. 304
 Cp. Bruhn, 2007, p.325-326
 Cp. Koschnik, Wolfgang J: FOCUS-Lexikon Werbeplanung, Mediaplanung, Marktforschung, Kommunikationsforschung, Mediaforschung, in: http://relaunch.medialine.de/PM1D/PM1DB/PM1DBF/pm1dbf_koop.htm?snr=1704/ 18.7.2008
 Cp. Koschnik, Wolfgang J: FOCUS-Lexikon Werbeplanung, Mediaplanung, Marktforschung, Kommunikationsforschung, Mediaforschung, in: http://relaunch.medialine.de/PM1D/PM1DB/PM1DBF/pm1dbf_koop.htm?stichwort=Optimierung&x=0&y=0/ 18.7.2008
 Cp. Bruhn, 2007, p. 326-328
 Cp. Johannsen, Nicolai: Banner-@advertising – Klickraten als Möglichkeit einer Mediaselektion im Internet?, Wiesbaden 2002, Deutscher Universitätsverlag, p. 12-20
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