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The number of times the audience has to hear the advertising message for it to register with them. The point at which a person has enough information to make a purchasing decision, having seen and perceived the commercial a number of times.
An effective frequency of 3+ means the target audience will hear the message three or more times, which is typically considered to be high enough to register with most audiences.
Keep in mind that the 3+ is an average---some people will hear the message less than three times, and some people will hear the message more than three times.
The higher the effective frequency, the more costly the media schedule.
