The major aspect of marketing is the advertising which is quite essential for all the marketers. It is the result of the whole manufacturing process. The students studying in MBA and who want to pursue their field in marketing only should know the importance of advertisement so that they can make their career successful and growing.
The advertising industry operates within strict regulations, and the advertisers have to maintain the ethics that has been regulated by the federal trade commission. The advertisers have to make lots of efforts and study while working on the advertisements. Let’s know what the whole process is all about.
WHAT IS ADVERTISING?
Advertising is a means of communication with the users of a product or service. Advertisements are the messages paid for by those who send them and are intended to inform or to influence people who receive them as defined by the advertising associations. It is the action of calling public attention to something, especially by paid advertisements. While there is an emphasis on paid announcements, but it is not a requirement. In other words, we can say that all commercials are advertisements, but not all advertisements are commercials. The business on the small scale or large scale can understand the difference between the two as well as the other option available within the advertisements arena.
The education in these areas, marketing objectives, and budget will help you determine that is there any requirement of the advertisement or not.
The issues faced by the marketers while advertising their product.
- HOW PLEASING WOULD BE THE PRODUCT
The marketers need to know whether the customers would be happy with the product or not. They have to study their needs, and the requirements which they have or they are looking for in a particular product. You need to make your product fulfilling all the needs adequately to create a mousetrap for the customers. You need to find out who will be interested in your product or who will not. Avoid the people who will not be interested and focus on one who can be your regular customers.
- VALUE PROVIDING SEGMENTS
You need to identify the segments that provide the highest importance to your product. Advertising the products that add to the amount of your product and that can attract most of the customers. You must realize the goals of your industry based on the competitive intensity, and that has a bright future. You need to decide which are the segments that can add some value to your product or invest money in those products who can provide you with more profits and benefits.
- THE POSITIONING OF THE PRODUCT
When it comes down to developing the behaviour, influencing tactics positioning is key. You have to know who you are aiming at to position it successfully. Usually, you will be replacing something already in that person’s report. The positioning of the product should be according to the location that can provide you with benefits and more return on money. If you choose the wrong location, the product will not bring any benefit to you in monetary terms.
- STAFF TURNOVER
The recent recession has left a significant impact on the staff or advertising agencies. The agencies usually downsized their employees or the employees moved to other industries that could provide them with the better salaries. Thus, it becomes difficult for the employers and the manufacturers to maintain creative approaches and to buy strategies when they are not sure about their employees.
- EVALUATING THE EFFECTIVENESS OF BRAND MARKETING
Brand marketing has become a leading advertising strategy in recent years. But one of the challenges is assessing the effectiveness of this type of advertising and selling the client on the return on investment in brand marketing. Advertising agencies need to master brand marketing and be able to quantify the revenue increased to the clients. The industry also needs to focus more on the customer than the client with this type of marketing. The agencies that turn the art of brand marketing into more of science will find themselves with an edge over others.
- USE OF SOCIAL MEDIA FOR THE SALE OF THE SERVICES
Social media has dramatically changed the advertising game and presents many challenges for advertising agencies. Some of the hurdles include using social media to make money for clients, successful integrating social media into overall campaigns and convincing clients that hiring experts in social media can be more effective than doing it themselves.
- DIFFERENT TYPES OF ADVERTISING METHODS
Advertising has involved a sizeable complex form of communication, with literally thousands of different ways for a business to get a message to the consumer. In today times, advertisers have vast option to choose for advertising, the internet alone will provide many of these, with the advent of branded chat rooms and much more.
Here are the resources for advertising:
- ONLINE ADVERTISEMENTS
The advertisements that can be seen on the internet comes under the category of online advertising. Even if you open any page, you will find some ad on that page, and most of the websites would be valued driver for the internet. Native advertising is another avenue of online advertising which includes the digital variation of the old print advertorials. Even the ads on Facebook and snapchat with the partnerships to BuzzFeed and Reddit is the fastest way to reach millions of people.
- MOBILE ADVERTISING
It is a relatively new form of advertising as compared to others. Recent trends in mobile advertising involve the major use of social media such as Twitter, Instagram, snapchat and Facebook. This kind of advertising is not at all disruptive but can leave the customers with a lot of ill will.
- PRINT ADVERTISING
It is the most traditional type of advertisement which is now taking a back seat after the involvement of many digital forms of advertising currently available to marketers. However, one positive thing we can say about this is, it is good to be different than others. And when consumers tire of digital ads, a return to printed pieces and the real feelings and permanence they provide is definitely in the cards. Printing can be divided into following categories:
- PERIODICAL ADVERTISING
Is it in a magazine, a newspaper or anything else that comes out regular intervals, then it’s periodical advertising. Since many years, print ads were the gold standard for advertisers and their clients. To seek the centre spread of a prominent magazine or the back cover of a newspaper meant millions of people saw the message.
- BROCHURES, LEAFLETS, HANDOUTS
Although, some of these handouts can be placed on the pages of newspapers and magazines. They have treated a separate entity, usually because they have less chance of being seen. From something that sits on a counter or customer service desk to a glossy car brochure, small print media offer a more intimate and long-form way of engaging the consumer. You should use this approach when you have ample information than you can cram into a print ad.
- DIRECT MAIL ADVERTISING
Either of the techniques mentioned above can be incorporated into direct mail. It means that the printed pieces are mailed directly to the consumer. This is a technique that has been and continued to be abused by inferior marketing agencies that have turned the craft into junk mail. If it is creative and intelligently conceived and executed, direct mail can be a fantastic way to engage the customer.
- BROADCAST ADVERTISING
It is a mass-market form of communication which includes television and radio; broadcast advertising has been the most dominant way to reach a large number of consumers. Broadcast advertising has taken a beating over the last few years, especially with the rise of DVRs and ‘ad-skipping’ technology. However, it is still a popular way to reach millions of people.
- OUTDOOR ADVERTISING
This is a broad term that describes any advertising that reaches consumers when they are away from home. Think of billboards, bus shelter posters, fly posters and even those big digital boards in times square.
- PUBLIC SERVICE ADVERTISING
Unlike traditional commercials, public service advertisements are primarily designed to inform and educate rather than sell a product or service. It mainly appears on TV and radio, but are also heavily promoted online.
Thus, these are the means that are used to advertise a particular product and make it useful for the customers.