Advertising Industry Analysis

Topics: Advertising, Communication design, Consumer protection Pages: 8 (2402 words) Published: January 29, 2013
Roshni Nair -46Shashank Sinha - 09Tejo Ram - 20Sweta Jain - 52Ratnesh Pandey - 60Swapnil Pande - 53| |

The purpose of advertising is to deliver a message, usually in order to sell a product or service. It is used to deliver an organization’s message to as many people as possible. The primary functions of advertising agencies are planning and creating advertising campaigns for clients and placing advertisements in various media. Planning consists of researching the market for a given product or service, assessing alternative methods of distribution and choosing the most effective way to reach the market. The agency then creates the advertising campaign and contracts for time and space with selected media. The ultimate objectives of advertising agencies include helping advertisers attain sales objectives, market share and long-term profitability. Current scenario

The Indian advertising industry is talking business today. It has evolved from being a small-scale business to a full-fledged industry. It has emerged as one of the major industries and tertiary sectors and has broadened its horizons be it the creative aspect, the capital employed or the number of personnel involved. Indian advertising industry in very little time has carved a niche for itself and placed itself on the global map. Indian advertising industry with an estimated value of estimated 13, 200-crore has set eyeballs gazing with some astonishing pieces of work that it has given in the recent past. The creative minds that the Indian advertising industry incorporates have come up with some mind-boggling concepts and work that can be termed as masterpieces in the field of advertising. Advertising agencies in the country too have taken a leap. They have come a long way from being small and medium sized industries to becoming well known brands in the business. Mudra, Ogilvy and Mather, Mccann Ericsonn, Rediffussion, Leo Burnett are some of the top agencies of the country. Indian economy is booming and the market is expanding continuously. With the market gaining grounds Indian advertising has every reason to celebrate. Businesses are looking up to advertising as a tool to cash in on rewarding business opportunities. Growth in business has lead to a consecutive boom in the advertising industry as well. The Indian advertising today handles both national and international projects. This is primarily because of the reason that the industry offers a host of functions to its clients that include everything from start to finish that include client servicing, media planning, media buying, creative conceptualization, pre and post campaign analysis, market research, marketing, branding, and public relation services. Keeping in mind the current pace at which the Indian advertising industry is moving the industry is expected to witness a major boom in the times ahead. If the experts are to be believed then the industry in the coming times will form a major contribution to the GDP.

PESTLE Analysis




* Ministry of Information and broadcasting is the nodal ministry for formulation of policies on foreign investment in broadcasting, film, print and advertising sector * FDI limit of up to 74% in joint venture is allowed. In exceptional cases the limit can be relaxed to go up to 100% if Indian partners have given their consent and also with the satisfaction of the Government * General code of conduct

* The government is contemplating on a media regulator as it is the government’s responsibility to have a fair and free media * Regulation has three aspects, one is a very bad advertisement, other is a very bad content and the third is the rate part of it (carriage rate) Economical:

* The current trends are changing the revenue models of agencies. fee-...

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