Information is considered to be the most valuable resource in the present day's society and in its economy. The availability of information is more or less a right of the society as it stimulates all eco-nomic activity and growth. In the case of marketing as well passing of information is of vital importance. It includes the name of a product or service and how that product or service can benefit the consumer. It persuades a target market to purchase or consume that particular brand through mass media. Mass media can be defined as any media meant to reach the general mass. There are several types and they are television, internet, radio, news programs, published pictures and articles to name a few. Advertis-ing can also serve as a media to communicate an idea to the mass in an attempt to convince them to take certain actions such as encouraging 'environmentally friendly' behaviours and eschew unhealthy behav-iors like smoking. Information can be imparted to the children through television programmes as well as through video games.
'Advertising is a non-personal communication of information usually paid for and usually persua-sive in nature about products, services or ideas by identified sponsors through the various media."
To promote a single product or service.
To make an immediate sale.
To create the branding of the product.
To introduce a price deal.
To inform about new products availability or features.
To build an overall company image.
To effect immediate buying action.
To increase market share.
It is classified under nine heads.
A normal characteristic of advertising is to create primary demand for a product category rather than for a specific brand. It is wrongly believed that product advertising must stress on brand name. This is based on the feeling that a good image often enhances the effectiveness of product advertising. However, in practice, most companies are successful in building the product image by using the brand names (e.g., Dettol, Horlicks). In short, when the company tries to sell its product or services through advertising it is referred to as product advertising.
These advertisements are not always directed to consumers. Instead, it is aimed at many of the various types of public (shareholders, creditors, etc.). It is not product oriented but is rather designed to enhance the image of the company.
It is intended to stimulate primary demand for a new product or product category. It is heavily utilised during the introduction stages of the life cycle of the product.
When a product enters the growth stage of its life cycle, and when competition begins, advertising emerges and becomes selective. Here, the goal of advertising is to increase the demand for a specific product or service. Advertising may begin to stress subtle difference in brands, with heavy emphasis on 'brand name recall'. Pricing also will be used as a key promotional weapon as products become very similar.
This is a highly controversial trend in today's competitive market. Such types of advertising play a decisive role on comparative features of two or more specific brands in terms of product / service attributes. This method is adopted in the maturity stage when similar products fast appear in the market causing stiff competition.
When manufactures, wholesalers and retailers jointly sponsor and share the expenditure on ad-vertising, it takes the form of co-operative advertising. Such advertising carry the names of all the parties involved. From the customers' point of view this is beneficial, as they can get the articles directly from the authorised outlets.
It is also termed as business advertising. As the name suggests such advertising is solely meant for effective increase in sales.
These are usually published by charitable institutions preferably to solicit general and financial help (such as collection of donation or sale of tickets).
Advertising that stresses and persuades immediate buying of the product is known as direct action advertising. Direct mail advertising is capable of achieving immediate action to a large extent.
TV advertising is a popular way to mass-market messages to large audiences. Although this me-dium has the ability to reach a high number of potential buyers, it is also one of the most costly forms of advertising
Radio advertising is an effective way for businesses to target a group of people based on location or similar tastes.
Magazine and newspaper advertisements are another way to spread the word about a product or service. Print advertising also offers the ability to target specific audience based on geography or com-mon interests. Print advertising usually includes larger display ads, as well as classified advertising. The classifieds are typically very affordable, whereas display ads are a bit pricey.
Advertising online is an increasingly popular method for promoting a business. There are many forms of online advertising. Banners are image advertising displayed on web pages. Google advertise-ment is another popular form of online advertising that matches an ad to an internet user's search inquiry.
Billboard advertisements are large advertisements displayed on structures in public places. Most commonly, billboards are located along the highways to target the passing motorists.
In-store advertising, takes place within a retail store. For example, a company that produces a new cleaning product might include an end cap display when they ship the product to stores. This gives the store an attractive display that draws attention to the new product. Other types of in-store advertis-ing include banners and display cases.
While some may argue that word of mouth is not advertising because it is free, this form of promo-tion is one of the best and the most credible and priceless asset of any business. Even if business owners cannot buy word of mouth advertising, they can encourage their customers to tell their friends and family about the great product or service they purchased.
Endorsement is similar to word of mouth promotion but typically does involve money. Having a product or service endorsed by a celebrity can increase sales and product awareness. Not every company can afford to have major A-list celebrities promoting a product. Smaller companies consider using local celebrities or well-known individuals within the product's niche market.
Broadens the knowledge of the consumers.
Helps easy introduction of products into the market.
Increases sale volume.
Helps to create image of the product and the company.
Enables them to have product information.
Creates awareness on product and service.
Maintains retail price.
Increases the rate of the turnover of stock.
Provides an opportunity to the customers to compare the merits and demerits of various substitute products.
Helps to establish direct contact between manufacturers and consumers.
Leads to large-scale supply for demand, creating more employment opportunities.
The advertising is a highly cost incurring method, its efficiency and effectiveness should be en-sured. It is for this, purpose that concept of scientific advertising should be carefully planned and efficiently implemented and promptly monitored and controlled.