Advertising and its objectives?
Advertising is an activity of attracting public attention to a product or business, as by paid announcements in the print, broadcast, or electronic media.
Advertising is a paid form of a non-personal message communicated through the various media by industry, business firms, nonprofit organisations, or individuals.
Advertising is a marketing tool and may be used in combination with other marketing tools, such as sales promotions, personal selling tactics, or publicity.
Objectives of Advertising
The real objective of advertising is effective communication between producers and consumers with the purpose to sell a product, service, or idea. The main objectives of advertising are as follows:
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.
Objective of advertising is to increase demand for existing product by persuading new customer for first time purchase and existing customers for repurchases. 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.
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.
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.
6. 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 prospective 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...
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