Importance of Advertising and Promotion in Business
|✅ Paper Type: Free Essay||✅ Subject: Business|
|✅ Wordcount: 2473 words||✅ Published: 5th Dec 2017|
Task 1:- The three communicational theories of business
- Electronic theory: – understands the dynamic communication aids in delivering messages clearly to the receiver. The process of the electronic theory is t is based on, and uses the language of, electronics. Emails, smart phone messaging system are using the electronic theory which information will be delivered in electronic ways.
- Social environment theory- is based on the workplace. It is essential to understand to whom we are talking their position. We also have to respect the rules and culture while communicating to each other.
- Rhetorical theory: – this theory targets not only the receiving message but also the respond produced.
The information and Communication technologies are changing in day to day life style. They are improving the way a message delivers to a audience. The ways of adverting are using website, other company website banners, classified, multimedia presentation, flyers and posters. The type’s advertisements are Product advertisement which is selling a single product such as mobile phones, electronic goods. Product advertisement only targets a limited people who will be using that product or services. Business advertisement is to make the company brand familiar to the audience. For example the brands most commonly known by the people are Nike, Timberland, Apple products. Service advertisement suggest the advertises service. Examples of service advertise are Government, Tourism and banking. As the latest technologies are gradually getting demand, advertising in a website will be idle for targeting the customers. Most of the users browse and prefer to shop online. In order to sell products online it is essential to details every specification of the product so that it will be easy for the clients to understand how the product or services will work before they purchase. Main important information that should be displayed if using website for advertisement is the company name, product name and contact information. The most popular online shopping website are ebay and amazon which allow many suppliers to sell product online and also allows the clients to review the services they get while shopping online and which may help the users who visit the product to understand a general knowledge on how the services are given to the customers. The technology is changing people on how they shop. Most of them prefer shopping online and even the high street retailers are making their products available online as well. The important advantage or using website to advertise product online are the product can be advertised in the same country or make it visible for other countries as well.
The Role and Importance of Advertising
Advertising is part of Marketing. In order to stimulate customer response always the advertisement is a good opportunity for the company to promote. The more people see the product/service, the more they feel like buying it. So many companies rely on advertising these days to boost sales of their products or services, to build a connection with their audience and to create competition with their rival firms There are different types to gain customer’s awareness like advertising, and promotion, Also there are different places that advertisements can be positioned, using the metro, trams, buses, restaurants and so on The advertising objectives should support main company’s goal and should be discussed with company-client in order to avoid misunderstanding. The advertising roles are based on company’s marketing strategy, like; * Increase sales * Increase brand awareness * Supporting other market efforts
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Advertising gives companies and businesses the opportunity to build up a brand and an identity. A recent example of this having great success is with the Apple brand. The distinct adverts in both TV andprintform are instantly identifiable as the company’s own and give it an identity as a clean, modern and reputable brand. Advertisements need to relate to current trends and sell both a product individually as well as the company as a whole. If an advertisement succeeds at both it can help draw an audience to the product or service and build a relationship between the consumer and company. Establishing this connection should lead to a boost in sales for the business. One of the best ways to advertise is by word of mouth, also known as referral marketing or referral advertising. When other people hear good things about your business or they have a positive experience shopping with your business, they become walking billboards for your business without you having to spend additional money on ads to create it.
Advertising locally through newspapers and fliers as well as billboards can be an effective source of it when your business is up-and-coming, but expanding your advertising sources becomes important as you grow. You can extend your advertising approach out to television commercials as well as radio in order to reach wider audiences, but the revenue from your business should be able to pay for it costs for these methods to bring you the value you are looking for.
Creating an assortment of advertising and marketing techniques will help you to reach many different customer bases. Identifying a target market to advertise your business to is also very valuable, because a target market of customers will be more interested in your business than trying to appeal to masses of people with varying interests. Making sure that enough people know that you exist who are naturally interested in your product as a target is a great way to bring in customers and increase the profit of your business.
Creating an impulse in potential customers to purchase your product is very important when it comes to advertising. It can be easy to create it that puts your customer in a mindset not to purchase your product, either by unintentionally avoiding the sale of your product by focusing on information or topics that draw attention away from your product. Be sure to study the needs of your target market to get the best results. In modern times the importance of advertising your business is no different. Without an audience for your product or service, you will not attract enough customers and will not make enough sales to keep your business doors open.
Below the line Techniques and their usage.
Below the line, refers to forms of non-media communication, even non-media advertising. Below the line sales promotions are short-term incentives, largely aimed at consumers. Below the line, refers to forms of non-media communication, even non-media advertising. Below the line sales promotions are short-term incentives, largely aimed at consumers. With the increasing pressure on the marketing team to achieve communication objectives more efficiently in a limited budget, there has been a need to find out more effective and cost efficient ways to communicate with the target markets. In organizational business and marketing communications,below the line is anadvertising technique. It uses less conventional methods than the usual specific channels of advertising to promote products, services, etc. thanAbove the linestrategies. These may include activities such as direct mail, public relations and sales promotions for which a fee is agreed upon and charged up front.
Above the line is a type of advertising throughmediasuch asTV,cinema,radio,print,bannersand search engines. Below the line advertising typically focuses on direct means ofcommunication, most commonly direct mail and e-mail, often using highly targeted lists of names to maximize response rates.With the increasing pressure on the marketing team to achieve communication objectives more efficiently in a limited budget, there has been a need to find out more effective and cost efficient ways to communicate with the target markets. This has led to a shift from the regular media based advertising. In other words, below-the-line sales promotion is an immediate or delayed incentive to purchase, expressed in cash or in kind, and having only a short term or temporary duration. Examples of BTL promotion are:
- Sales promotion
- Direct marketing and direct mail
- Public relations (PR)
- Personal selling
- Branding and merchandising
- Trade fairs and exhibitions
These offer customers incentives to encourage them to buy goods and services. In B2C markets, typical sales promotions include:
- BOGOF (buy one, get one free) offers
- price discounts (10% off this week)
- competitions to win holidays or cash prizes
This enables a business to target existing and potential customers with its sales messages. Direct mailing is a productive way of promoting to existing customers for several reasons. Task 04
Ability to plan integrated promotional strategies
A company can employ various promotional techniques in order to communicate with the target market, techniques that form the promotional mix. Depending on the communication means, the promotional techniques can be:
- Direct communication techniques – focused on creating a relationship with each client
- Indirect communication techniques – based on mass communication, the message in identical for a high number of potential customers ( advertising, public relations, sales promotion
This definition outlines the key purposes of the marketing function. These are:
- to compete in a competitive marketplace
- to identify and anticipate consumer requirements and then satisfy these requirements
- to make a profit.
As a market-orientated organization adidas continuously identifies and reviews consumers’ needs to ensure its products meet these needs. It aims to exceed customer expectations by adapting its product portfolio to meet the changing needs of consumers. It is this focus on its customers, teamed with product and marketing innovation, that plays a key role in adidas’ success.
Every organization must look at its marketing in relation to the marketing mix. The marketing mix, often referred to as the 4Ps, is a means of assessing how to balance the elements of the mix in order to meet customers’ needs. The elements include:
- the right product
- sold at the right price
- in the right place
- using the most suitable form of promotion.
No two businesses are identical, as such, every organization must decide on its own balance of the 4Ps to suit its consumers’ needs. There are many internal and external factors that will influence an organization’s marketing mix. Key factors include the size of the business, the markets it operates in and available resources.
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