ADVERTISING IN CONTEMPORARY SOCIETY
5 M’S OF ADVERTISEMENT
ADVERTISEMENT – MISSION
Advertising in the Indian economy (Chapter 1)
Advertisement in general is referred to as any paid nonpersonal presentation of a product or a service by an identifiable sponsor all advertisement campaigns are influenced by five major elements. These are popularly referred to as the 5 m’s of advertising.
1. Mission – The term mission refers to long term goal of any institution such a goal will provide the basic direction for the campaign. 2. Message – Every advertisement makes an attempt to convey specific information to the public. Such a message is conveyed through a visual content of an advertisement. All such messages effect the mission statement of the unit. 3. Media – Media is the common vehicle employed by the marketers to convey the message. A specific media or combination of the media can be chosen to ensure effective communication. 4. Money – Every unit has a marketing budget, which has a sub-budget in the form of advertising budget. Each campaign takes into account the provision made under the advertising budget. 5. Measure – This refers to the mechanism available for measuring the reach. An effectiveness of specific campaign. At present these are measured through special institutions and rating system adopted by the various media. The volume of sales is also one of the indicates which can be used to measure the impact of advertising.
TYPES OF ADVERTISING
On the basis of content – Advertisements in general can be classified under various categories as stated below:
1. Consumer advertising
2. Business to business advertising
3. Trade advertising
4. Retail advertising
5. Financial advertising (banks)
6. Direct response advertising
7. Recruitment advertising
On the basis of content – the term content refers to the main message that is conveyed through the advertisement.
1. Consumer advertising – If the message is directly aimed at influencing the behavior of end users of the product or service then it is called consumer advertisement – e.g. beverages, food items, consumer durables. 2. Business to business advertising – Such advertising is aimed at announcing the availability of product or a service for a variety of industrial and business activities. 3. Trade advertising – These have a narrow scope. They restrict their message to the members of the channel of distribution of a single trading activity – e.g. wholesaler, retailer, manufacturers. 4. Retailer advertising – These are specific messages by local shop owners to the people residing in certain locality. At present big retail unit like shopping malls do undertake a lot of retail advertising. 5. Financial advertising – As a result of privatization of financial sector such advertisement have become highly essential for the survival of the banking and insurance unit. 6. Direct response advertising – Such advertising aims at creating an immediate response on a part of target group. They announce discount prices, reduction, premium offers. 7. Recruitment advertising – This refers to certain employment oriented advertisements which are aimed at recruiting the best talent available in the market. These are designed in a challenging manner in order to attract the best of talent.
THEORIES OF ADVERTISING
- Value addition theory by Martin Meyer - Emotional theory by Plutchik - Advertising effect theory
- Mimesis theory by Ginard
a. Productory Service – Any features not physically inherent ( include by psychology they can create impact) b. Adding value...
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