Advertising Strategies and Importance of Advertising

Advertising Strategies and Importance of Advertising

Abstract

Advertising plays a very crucial role in today’s competitive market place all over the world. The primary aim of this study is to investigate the Advertising strategies used and the importance of advertising in the management of businesses. Advertising strategies refer to the plans applied by marketing management to reach a customer and persuade him to buy its product or service. For the advertising strategy to be effective, it should start with understanding where a particular product or service currently stands in the market concerning both perception and demand. Advertising is essential for all business aspects since it plays an imperative role for both manufacturers and consumers. It is through advertising where the business increases its turnover by creating awareness of the existence of a product to customers. The study investigates advertising strategies applied by marketing management and the importance of advertising in business.

Introduction

The twenty-first century is an era of technological advancement all over the world, and this has led to globalization. The improvement in transport and communication networks has, to a great extent, impacted the spread of business ideas globally.  Companies are actively and intensively increasing their production to meet the increased consumer demand in every corner of the globe. The increased demand has attracted many firms in the production industry, which are stiffly competing to outdoor each other to survive in the field. The task of capturing customers and maintaining them informs the need for employing effective advertising strategies and understanding the role of advertising

Advertising

Advertising is a form of communicative activation used by competing companies aimed at informing consumers about the existence of a specific product of a named company and persuading them to purchase the product. It helps to increase the productivity of the company hence rising standards of living in society.

Advertising strategies

These are plans used by marketing management to reach the targeted consumer and persuade him to buy a product or service. Some of the effective advertising techniques that can be used by any company, regardless of its size, include the following;

Coupons

A business company may choose to use coupons to attract new customers and retain them. This may be done by offering a specified discount off the price of the product or issuing a voucher to any customer who brings in a new client.

Online marketing

This involves using the advantage of all marketing websites that allow a company to promote its business for free. These may include business websites, email marketing, or social networking sites. One advantage of online marketing is that you can easily track its effectiveness by accessing the number of visits to your website by customers.

Local advertising

A company may choose to use niche markets for advertising its products. These may include placing ads on local online sites or local newspapers detailing your product. There are many visitors to local media sites; hence, the broader market is created. Some of these media include magazines and online newspapers.

The importance of advertising to businesses

Advertising helps in promoting a product for the manufacturer. This is because consumers become aware of the existence pf a product through the ads and make a purchase. This, in turn, increases sales for manufacturers. Different manufacturing companies also use advertising as a competing tool. They use different creative and appealing adverts to convince consumers to patronize their brands. It is the convincing power that counts in capturing the attention of the consumer. Advertising helps to save time for consumers by pointing a particular product and where to get in the market place. It also allows consumers to be more specific and considerate when shopping since they make their choices before and become aware of what to new products in the market place. The advertisement has advantages for the whole society in general. This is because it creates jobs for those working in the advertising industries.

Methodology

To bring clarity for my research, I used two methods: one is surveying a manufacturing company to study the advertising strategies they employ to reach and persuade customers. The other methodology is interviewing a few customers at the market place as they buy a product of the company I surveyed.

Analysis and results

In my survey to the manufacturing company, I found out that they use the most suitable media, which will reach the targeted customer. The company I visited used the local radio station, local television channels, and the local newspaper to air out their ads. On the other hand, I interviewed ten customers in the market place who had already purchased the product for the company. I asked them how they got the information about the existence of that new product in the market. Seven of them said that they heard the advert in as it was aired out by the local radio station. Two of them responded that they saw the advert in the local television and only one read the ads in the local newspaper.

Conclusion

This research is a modest analysis of advertising strategies alongside an exploration of the importance of advertising to various players in the business. Complexities in advertising arise daily due to the increased emerging issue in the field brought by advancement in technology. Carefully planned and Cost-effective advertising strategies should be employed for successful marketing planning to experienced.

References