DEFINITION OF ADVERTISING
Paid form of
non-personal communication about an organization, product, service or idea from
a well-known sponsor, using mass media to convince
or influence an audience.
or influence an audience.
The paid aspect
of this definition reflects
the fact that the space or time for an advertising message must be bought.
the fact that the space or time for an advertising message must be bought.
What really
is Advertising ?
The non-personal
component means that advertising involves mass media (example- TV, radio,
magazines, newspapers) that can broadcast a message to large groups of
individuals, often at the same time.
What really
is Advertising?
The non-personal
nature of advertising means that there is generally no opportunity for
immediate feedback from the message recipient (except in direct response
advertising).
Therefore before
the message is sent, the advertiser must consider how the audience will
interpret and respond to the message.
What really
is Advertising?
Advertising is
communication of information and values by an
identified sponsor
identified sponsor
Advertising is
the third partner in the
relationship between a consumer and a product/service.
IMPORTANCE OF
ADVERTISING
There are many reasons why advertising is an important part of the marketers
promotional mixes they are:
·
Firstly, it is very cost effective method to communicate to a large
audience.
·
Secondly, it helps create brand image and symbolic appeal
for the brand which is a very important for companies selling product/services
that are difficult to differentiate on functional attribute.
·
The nature and
purpose of advertising differs from one industry to another and/or across
situations.
·
The targets of
an organization's advertising efforts often differ as the advertising role and
function in the marketing program.
For example- One advertiser may seek to generate
immediate response or action from customers; another may want to develop
awareness or positive image for its products or service over a longer period.
•
What advertising does is create awareness,
interest, and desire and drives the consumerto the shop.
•
For any advertising to be successful it is
essential that the service or product must be superior or meaningfully different;
certainly, at the very
least, it must be at least satisfactory.
least, it must be at least satisfactory.
•
If it is a
public message, then it must be a convincing proposition or a product of
inferior quality.
•At the most advertising will help in inducing a trial from the consumers; thereafter it is entirely on the quality of
the product or brand.
ROLE OF
ADVERTISING
INFORMATION AND PERSUASION: Practical advertising is
a constituent in an overall advertising strategy, that seeks to convince consumers into
purchasing particular goods or services, often by engaging to their emotions
and general sensibilities. This particular advertising strategy
is different from informative advertising, which fundamentally provides the customer with hard data
about the nature and function of the product. With significant advertising,
the assumption is that the consumer already understands the basic nature of the
product, but needs to be convinced of the desirability and the benefits that
set a particular product apart from the competition.
One of the more
effective approaches to influential advertising is
to focus on specific benefits of the product.
INFORMATION OF NEW BRAND OR BRAND EXTENSIONS: Brand
extension or brand stretching is
a marketing strategy in which a firm marketing a
product with a well-developed image uses the same brand name in a different product category. The new
product is called a spin-off. Organizations use this
strategy to increase and influence brand equity (definition- the net worth and long-term sustainability just from
the well-known name). An example of a brand extension is Jello-Gelatin creating Jello pudding pops. It
increases awareness of the brand name and increases profitability from
offerings in more than one product category.
A brand's "extendibility" depends on how strong
consumer's relations are to the brand's values and goals. Ralph Lauren's Polo brand successfully extended from clothing to home furnishings such
as bedding and towels.
BUILDING AND MAINTANING BRAND LOYALTY AMONG CONSUMERS: Brand loyalty is the gem of all the
gems. Repeated customers who without thinking or even considering other
options are the finest of the crop. Every business aspires to be the “go
to” and have that loyalty. Loyalty is built based upon relationships and
a sense of belonging. Relationships are built from trust which are
stemmed from conversation, exceptional customer service, a website or
store that has the product or service are desired easily available with a
trustworthy check out.SIX WAYS TO CREATE BRAND LOYALTY ARE:
·
Be
better than anyone
·
Belonging
·
Credibility
·
Accessibility
·
Connection
ability
·
Repeat
CREATING AN IMAGE AND MEANING FOR A BRAND: Brand
image is the current view of the customers about the
brand. It can be defined as a unique bundle of associations within the minds of
target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a particular brand. In short, it
is nothing but the consumer’s examination about the product. It is the manner
in which a specific brand is positioned in the market. Brand image conveys
emotional value and not just mental image. Brand image is nothing but an
organization’s character. It is an addition of contact and observation by the people
external to an organization. It should highlight an organization’s mission and
vision. The main elements of positive brand image are- unique logo, reflecting
organization’s image, slogans. Describing organization’s business in brief and
brand identifier supporting the key values of the organization.
OBJECTIVES:
The motive of advertising is nothing,
but to sell something like-a product, a service or an idea. The real objective
of advertising is successful communication between producers and consumers. The
following are the main objectives of advertising:
Preparing
Ground for New Product
New product needs introduction because
potential customers have never used such product earlier and for that, the advertisements
preparea ground for that new product. Which help in providing awareness and
knowledge to the customers
Creation
of Demand
The main objective of the advertisement
is to create a favourable climate for maintaining appropriate sales. Customers
are to be reminded about the product and the brand. It may bring on new
customers to buy the product by informing them its qualities, since it is
possible that some of the customers may change their brands.
Facing
the Competition
Another important objective of the
advertisement is to face the competition. Under competitive conditions,
advertisement helps to build up the brand image and brand loyalty and when
customers have developed brand loyalty, it becomes difficult for the middlemen
to change it.
Creating
or Enhancing Goodwill: Large scale advertising is often
undertaken with the objective of creating or enhancing the goodwill of the
advertising company. This in turn, increases the market accessibility of the
company's product and helps the salesmen to win the attraction of customers
easily.
Informing
the Changes to the Customers
Whenever changes are made in the prices,
channels of distribution or in the product through improvement in quality, size,
weight, brand, packing, etc, people must be informed about the product by the
producer through advertisement.
Neutralizing
Competitor's Advertising
Advertising is necessary to beinclusiveor
reduce the effectof competitor's advertisement. When competitors are adopting
intensive advertising as their promotional strategy. It is their responsibility
to follow similar practices to reduce the effect. In such cases, it is
essential for the manufacturer to create a different identity of his product.
Barring
New Entrants
From the advertiser's point of view, a
strongly built identity through long advertising helps to keep new entrants
away. The advertisement builds up a certain monopoly for the product in which
new entrants find it difficult to enter.
In short, advertising aims at benefiting
the producer, educating the consumer and supplementing the salesmen.
GOALS:
Following are the goals of the
advertising:
•
Launch of new
product and services
•
Expanding
markets to include new users
•
Announcing a
product modification
•
Announcement of
a special offer
•
To announce
dealer location
•
To educate
customers
•
Reminder
campaigns
•
To create brand
preference
THE 5Ms OF ADVERTISING
The organizations
handle their advertising in diverse ways. In companies, advertising is handled
by someone from the sales or marketing department, working with an advertisingagency. A large
company will set up its own advertising department or else appoint an advertising
agency to do the job for preparing advertising programmes.
In developing a program
marketing managers must always start by identifying the target market and the
buyer’s motives. Through which they can make the five major decisions in developing
an advertising program, known as the five M’s, that is-
Ø Mission: what are the advertising objectives?
Ø Money: how much can be spent?
Ø Message: what message can be sent?
Ø Media: what media should be used
Ø Measurement: how should the results is evaluated?
CLASSIFICATION OF
ADVERTISING
ADVERTISING TO THE CONSUMER MARKET:
·
National Advertising
·
Retail/Local Advertising
·
Primary Demand Advertising
·
Selective Demand Advertising
NATIONAL ADVERTISING: Advertising is done by a
company within a nation or the regions of the country that has been marked as
the consumer market.
RETAIL/ LOCAL ADVERTISING: Advertising is done by
major retailers or small local merchants to motivate consumers to support their
stores or use their local services (banking and restaurants).
PRIMARY AND SELECTIVE DEMAND ADVERTISING: Primary
demand advertising- advertising designed to motivate the demand for the general
product class or an entire industry.
Selective demand advertising- advertising that
focuses on creating demand for a definite company’s product or services.
ADVERTISING DONE FOR THE BUSINESS AND PROFESSIONAL
MARKET:
·
Industry Advertising
·
Professional Advertising
·
Trade Advertising
INDUSTRY ADVERTISING: Advertising that is targeted
at individual level who influences the purchase of the individual goods and
services.
PROFESSIONAL ADVERTISING: Advertising that is done
for the professional groups such as lawyers, doctors, engineers.
TRADE ADVERTISING: Advertising that is done and
directed to resellers such as wholesalers and retailers to motivate them to
carry out the company’s products.
BENEFITS AND CRITICISM OF ADVERTISING
BENEFITS:
· Information
about the product/ brand
· Building
brand image
· Innovations
· Launching
new product
· Media
growth
· Long
Term And Indirect Benefits
CRITICISM OF ADVERTISING:
·
Hyper- commercial and the commercial
tidal wave
·
Product proliferation
·
Inefficient manufacturers remain in the
business
·
Entry barriers
·
Dependent on the media
·
Damaging of culture and sports
·
Socio culture aspects like sexism,
discrimination
·
Advertising and sensitivity to price
·
Advertising creates insecurity
·
Materialism
No comments:
Post a Comment
Thanks for Commenting !!!
We Value and Appreciate YOUR Feedback.....
Cheers.....