Marketing Aptitude - Advertising
Category : Banking
Advertising is the most commonly used tool of promotion. It is a form of marketing communication used to encourage, persuade or manipulate the audience i.e., viewers, readers, listeners or a specific group to take or continue to take some action. The word 'advertisement' comes from the Latin word adventure which means 'to turn toward'.
Advertising that promotes organizational images, ideas and political issues is institutional advertising.
Characteristics of Advertising
The characteristics of advertising may be stated as follows
It involves sending messages through one or more media such as television, radio, newspapers and magazines, etc. It is called impersonal because the Message is conveyed through some media rather than a person.
Advertising is done with a specific objective of promoting a product or service and increase their sale. The message generally, contains information regarding products characteristics, prices, uses and important needs that may be satisfied by use of the product.
The message is sent by manufacturers, wholesalers and retailers who are called sponsors of the advertisement.
Advertisements appearing in the newspapers, television, cinema halls, etc. are duly paid for. The sponsors pay huge amounts for use of space in newspaper or time slot in television and radio, etc.
It helps the consumer to purchase the right product as per their requirement and budget.
A good advertising campaign involves lot of creativity and imagination. A campaign becomes successful only when the message satisfies the expectation of the consumer. Thus, creativity plays a big role here.
Objectives of Advertising
An advertising objective is a specific communication task and achievement level to be accomplished with a specific audience in a specific period of time.
The main objectives of advertising are
Companies keep on introducing new products in the market and need to inform the prospective customers about its features, price, usage, availability, etc. Advertising not only attracts their attention but also helps them in making an opinion about the product and taking the best purchase decisions.
Advertising helps in increasing the sale of company's products. It also helps in turning non-users of products to users of products and also in attracting the users of competitors products.
Now-a-days new products keep on entering the market at a fast pace and consumers tend to switch over to the new products. Advertising is used to remind the consumers about how good their products or services are and that they are still in the market as old and reliable ones.
Advertising helps in building reputation of the company. Through advertisement, the firms can communicate their achievements to the consumers and clear any misconceptions or doubts in the mind of the public about themselves or their products.
It aims to stimulate repeat purchase of products and services. Expensive four colour Coca-Cola ads in different magazines are intended to remind people to purchase Coca-Cola.
It aims to convince current purchasers that they made the right choice. Automobile ads often depict satisfied customers enjoying special features of their new car.
Advertising is also used for creating a brand image which helps in building customer s loyalty.
Advertising facilitates the process of personal selling. The salespersons job is made easier if the customer is familiar with the product.
In developing an advertising programme, marketing managers must always start by identifying the target market and buyer motives. Then they can make five major decisions. These are known as five Ms of advertising.
Types of Advertising
Some common types of advertisement are
Classification of Advertisement on the Basis of Stages
On the basics of stages, advertisement is classified as follows
At pioneering stage, the company tries the target consumer about the new product and informs, influences and persuades them to buy or use it by highlighting the unique features of the product.
Once the product survives the introductory stage, it has soon to face hard competition with other established brands of the market. At this stage, advertisement tries to promote sales effectively.
When the product has captured a large share of the market, 'retentive advertising' is undertaken to maintain or retain the stable position in the market as long as possible.
Media of Advertising
Advertising media are the means through which messages regarding products and services are transmitted from the advertising firm to people at whom that product is targeted.
Following are the types of media that are available for this purpose
It is printed media of advertising. It includes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principles of Effective Advertisement
The purpose of advertising is to convince customers that a company's services or products are the best and enhance the image of the company and also to hold existing customers.
The advantages of advertising are explained below
Advertising helps the consumers to gain useful information about the products, prices, quality, terms of sale, after sale services, etc. Besides providing such information, advertising also guides the customers about the right use of the product.
Advertising helps the manufacturers in introducing new products, maintaining customers of existing products and in increasing their sales by attracting new customers.
The enhanced competition resulting from advertising motivates the producers to make improvements in their existing products and find out better alternatives through Research and Development (R & D) activities.
The limitations of advertising are
Money spent on advertising eventually, results in increased cost of the product, which is passed on to the consumers through increased prices.
Advertising may introduce ideas or concepts alien to our culture. These new values generated or propagated by advertising may affect our social, moral and ethical values.
Business firms which can spend heavily on advertising are usually the ones who grab a bigger share of the market. Such firms generally have a monopoly which results in unequal opportunity for small producers who eventually perish.
Advertising does not distinguish between superior and inferior products and persuade people to purchase even the inferior products.
Advertising does not always increase demand. In many cases, a number of firms manufacturing similar products may advertise vigorously. This may not result in an actual increase in the total demand for the product but simply shift demand from one brand to another.
Publicity
Publicity is a part of marketing and customer relations. Publicity is also non-personal communication about an organization on its products that is transmitted through a mass medium in the form of news but is not paid for by the organization.
Difference between Advertising and Publicity
|
Advertising |
Publicity |
|
Advertising comes from an identified sponsor. |
Publicity comes from a natural and impartial source. |
|
Advertising is a paid form of ideas, goods and service. |
Publicity is not paid by sponsor. |
|
Advertising is what the organization says about its product. |
Publicity is what others say about the organization. |
|
Advertising always carriers a positive image because the organization pays for the content. |
Publicity can be positive or negative because comes from an impartial source. |
|
Advertising is targeted to the particular audience by the sponsor. |
In publicity, it is not focused. |
|
Most of the time advertising ignores social responsibilities. |
In publicity, special stress is given on social responsibilities. |
Some Important Terms
Tit - Bits
You need to login to perform this action.
You will be redirected in
3 sec
