Marketing Advertising Assignment

Marketing Advertising Assignment Words: 2223

Objectives of Advertising The real objective of advertising is effective communication between reducers and consumers with the purpose to sell a product, service, or idea. The main objectives of advertising are as follows: Informative Objective of advertising is to inform its targeted audience/customers about introduction of new product, update or changes in existing products or product related changes, information regarding new offers and schemes. Informative advertising is common in the introductory Stage Of the product life cycle.

Persuasive Objective of advertising is to increase demand for existing product by persuading new customer for first time purchase and existing customers for purchases. Persuasive advertising is a competitive type of promotion suited to the growth stage and the early part of the maturity stage of the product life cycle. Reminder The objective of advertising is to remind customers about existence of product, and ongoing promotional activities. It is common in the latter part of the maturity stage and throughout the decline stage of the product life cycle. Some specific objectives of advertising.

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To make an immediate sale. TO build primary demand. To introduce a price deal. To build brand recognition or brand insistence. To help salesman by building an awareness of a product among retailers. To create a reputation for service, reliability or research strength. To increase market share. Functions of Advertising Following are the basic functions of advertising: 1 . To distinguish product from competitors’ products There are so many products of same category in the market and they competes with each other, advertising performs the function of distinguishing advertiser’s product from competitors. 2.

To communicate product information Product related information required to be communicated to the targeted customers, and advertisement performs this function. 3. To urge product use Effective advertisement can create the urge within audience for a product. 4. To expand product distribution When the market demand of a particular product increases, the number of retailer and distributor involved in sale of that product also increases, hence product distribution get expanded. 5. To increase brand preference There are various products of different bands are available, the brand which is effectively and frequently advertised is preferred most. . To reduce overall sale cost Advertising increases the primary demand in the market. When demand is there and the product is available, automatically the overall cost will decrease, simultaneously the cost of sales like distribution cost, promotional cost also get decreased. Classification of Advertising Advertising can be classified on the basis of Function, Region, Target Market, Company demand, Desired response, and Media. A) Classification on the basis of function Informative advertising: This type of advertising informs the customers about the products, services, or ideas Of the firm or organization.

Persuasive advertising: This type of advertising persuades or motivates the respective buyers to take quick actions to buy the products or services of the firm. Example: “Buy one, get one free”. Reminder advertising: This genre of advertising reminds the existing customers to become medium or heavy users of the products or services of the firm that have been purchased by them at least once. B) Classification on the basis of region Advertisements can also be classified on the basis of the region, say: Global advertising: It is executed by a firm in its global market niches.

Reputed global magazines like Time, Economic Review, Cable TV channels are also used to advertise the products through out world. Examples: Sony, Philips, Pepsi, Coca Cola, etc. National advertising: It is executed by a firm at the national level. It is done to increase the demand of its products and services throughout the country. Regional advertising: If the manufacturer confines his advertising to a single region of the country, its promotional exercise is called Regional Advertising. This can be done by the manufacturer, wholesaler, or retailer of the firm.

Local advertising: When advertising is done only for one area or city, it is called Local Advertising. It is sometime done by the retailer to persuade the customer to come to his store regularly and not for any particular brand. C) Classification on the basis of target market Depending upon the types of people who would receive the messages Of advertisements, advertising can be classified into five subcategories: Consumer product advertising: This is done to impress the ultimate consumer. This type of advertising is done by the manufacturer or dealer of the product or service.

Industrial product advertising: This is also called Business-to-Business Advertising. This is done by the industrial manufacturer to increases the emend of industrial product or services manufactured by the manufacturer. Trade advertising: This is done by the manufacturer to persuade wholesalers and retailers to sell his goods. Professional advertising: This is executed by manufacturers and distributors to influence the professionals of a particular trade or business stream. These professionals prescribe the products of these manufacturers to the ultimate buyer.

Financial advertising: Banks, financial institutions, and corporate firms issue advertisements to collect funds from markets. They publish prospectuses and application forms and place them at those points where he prospective investors can easily spot them. D) Classification on the basis of desired responses An ad can either elicit an immediate response from the target customer, or create a favorable image in the mind of that customer. Thus, we have two types of advertising under this classification. Direct action advertising: This is done to get immediate responses from customers.

Examples: Season’s sale, purchase coupons in a magazine. Indirect action advertising: In this type of advertising customers do not rush to buy the product but he develops a favorable image Of the brand in his mind. E) Classification on the basis of the media used in advertisement The broad classification based on media is as follows: Audio advertising: It is done through radio, P A systems, auto-rickshaw promotions, and four-wheeler promotions etc. Visual advertising: It is done through POP displays, leaflets, cloth banners, brochures, electronic hoardings, simple hoardings, running hoardings etc.

Audio-visual: It is done through cinema slides, movies, video clips, TV advertisements, cable TV advertisements etc. Written advertising: It is done through letters, fax messages, leaflets with text, resources, articles and documents, space marketing features in newspapers etc. Internet advertising: The world wide web is used extensively to promote products and services of all genres. Verbal advertising: Verbal tools are used to advertise thoughts, products, and services during conferences, seminars, and group discussion sessions.

Factors before Choosing An Advertising Media 1 . The Cost of Using any of the Media To run any advertising campaign be it online or offline, Pay per Click, Television, pay per View, print or any channel, first of all look at the cost, and the underlying effect in business, measured by way of conversion and turns. 2. The Type and Nature of Product or Services meant for Advertising If the product is some thing that is so much era-vogue; then the kind of advertisement run should look more like presenting a better deal to the prospect. 3.

The extent of the circulation of the media It is the most important factor, is like running an advert in local news paper that covers only the little happenings. 4. The target market who the advert should speak to. 5. The number of people the advertisement is hoped to reach. When advertising for results, make adequate research on the number of people your message will be reaching; if you choose a particular radio or TV station, know the number of listeners and viewers alike, make estimation; then launch advertorial. Importance of Advertising Advertising plays a very important role in today’s age of competition.

Advertising is one thing which has become a necessity for everybody in today’s day to day life, be it the producer, the traders, or the customer. 1 Advertising is important for the customers Advertising plays a very important role in customers life. Customers are the people who buy the product only after they are made aware of the products available in the market. Fifth product is not advertised, no customer will come to know what products are available and will not buy the product even if the product was for their benefit. One more thing is that advertising helps people find the best products for themselves, their kids, and their family.

When they come to know about the range of products, they are able to compare the products and buy so that they get what they desire after spending their valuable money. Thus, advertising is important for the customers. 2. Advertising is important for the seller and companies producing the rodents Advertising plays very important role for the producers and the sellers of the products, because -Advertising helps increasing sales -Advertising helps producers or the companies to know their competitors and plan accordingly to meet up the level of competition. If any company wants to introduce or launch a new product in the market, advertising will make a ground for the product. Advertising helps making people aware of the new product so that the consumers come and try the product. Advertising helps creating goodwill for the company and gains customer loyalty after reaching a mature age. The demand for the product keeps on coming with the help of advertising and demand and supply become a never ending process. Advertising is important for the society Advertising helps educating people.

There are some social issues also which advertising deals with like child labor, liquor consumption, girl child killing smoking, family planning education, etc. Thus, advertising plays a very important role in society. Advertising Appeal and Type of appeal. Advertising Appeal is an igniting force which stimulates the customer mindset towards the product or services. Advertising appeals are designed in a way o as to create a positive image of the individuals who use certain products. Advertising agencies and companies use different types of advertising appeals to influence the purchasing decisions of people.

There are three types Of appeals: Rational or Informational Appeal Emotional Appeal Moral Appeal Rational or Informational Appeals This is generally product oriented appeal, highlights the functional benefits like- quality, economy, value, or performance of a product. Following are different types Of rational appeals: Feature Appeal Advertisements based on such appeal are highly informative, provides information of product attributes or features that can be used as the basis for rational purchase decision.

Competitive Advantage Appeal Such appeal is used to compare the product with the competitor’s product directly or indirectly and advertiser try to present his product superior then competitor’s product on one or more attributes. Favorable Price Appeal – Here price offer is considered as the dominant point Of the message. News Appeal Some type of news or announcements about product or company dominates the advertisement. Product Popularity Appeal – Product popularity is considered as the dominant mint of advertisement by highlighting the increasing number of users of brand or the number who have switched to it.

High Quality – Some products are preferred for their quality not merely because of their taste or style, such products are advertised by highlighting the quality attribute in advertisement Low price – Many people prefer low priced goods. To target such audience products are advertised by highlighting the low price tag of the product. Long Life – Many consumers want product of durable nature that can be used for a long period, in advertisement of such product durability is the dominant mint of the message. Performance – Many advertisements exhibit good performance of product.

Economy – Many customers consider savings in operation and use of product, for example in case of automobile the mileage is considered while selecting the brand or model. Scarcity – Another appeal that is occasionally used is scarcity. When there is a limited supply of a product, the value of that product increases. Scarcity appeals urge consumers to buy a particular product because of a limitation. Other Rational Appeals – Other rational appeals include purity, more profits, mime saving, multifunction, more production, regular supply and availability of parts, limited space required, artistic form, etc. Hat can make advertising effective. Emotional Appeals An emotional appeal is related to an individual’s psychological and social needs for purchasing certain products and services. Emotions affects all type of purchase decisions. Types of emotional appeals are as follows: Positive Emotional Appeal – Positive emotions like- humor, love, care, pride, or joy are shown in advertisements to appeal audience to buy that product. For example- Johnson and Johnson baby products. Negative Emotional Appeal – This includes fear, guilt, and shame to get people to do things they should or stop.

Fear – Fear is an emotional response to a threat that expresses some sort of danger. Ads sometimes use fear appeals to evoke this emotional response and arouse consumers to take steps to remove the threat. For example- Life Insurance Anxiety – Most people try to avoid feeling anxious. To relieve anxiety, consumers might buy mouthwash, deodorant, a safer car, get retirement pension plan. Humor – Humor causes consumer to watch advertisement, laugh on it, and cost important is to remember advertisement and also the product connected with humor.

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