Essence of advertising in promotion mix

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Transcript of Essence of advertising in promotion mix

We take this opportunity to express our profound gratitude and deep regards to our greatest guide, respected Subho Sir (Mr. Subhabrato Chatterjee) and not to forget Mr. Anish Chattopadhyay for their exemplary guidance, monitoring and constant encouragement throughout the course of this Project.

Promotion refers to raising customer awareness of a product or brand, generating sales, and creating brand loyalty.

To promote means to publicize something in order to sell it.

Promotion refers to all those communication activities intended to increase the sales of a product. Thus, the Promotion Mix has now come to be known as the Communication Mix.

•Advertising

• Public relations

• Sales promotion

• Direct marketing

• Personal selling

What is Advertising?

Advertising is any paid form of non personal

presentation and promotion of ideas, goods or

services by an identified sponsor.

Paid Form Non-personal

Promotion

Identified Sponsor

Persuasive

Mass Communication

In

form

•To provide information and create awareness about a new product, brand, new usage of an existing product.

Persu

ad

e •To persuade customers to buy a particular brand.

•It encourages Brand switching and creates preference for a particular brand.

Rem

ind •To remind the

customers about a product that they may overlook.

•Advertising a mature product.

Advertising seeks to move potential buyers through these stages:

A – G a i n A t t e n t i o n a n d c r e a t e A w a r e n e s s

I – C r e a t e a n d h o l d I n t e r e s t

D – D e v e l o p a d e s i r e

A – A c t i o n s t h a t E n c o u r a g e c u s t o m e r s t o b u y

AIDA

Classification of Advertising

On basis of Demand :

Primary demand

Selective demand

On Geographical basis :

Global

National

Regional

Local

On Target Group basis :

Consumer

Industrial

Trade

Professional

Based on objectives:

Product Advertising

Service Advertising

Institutional Advertising

Public service Advertising

On Timing of response basis:

Direct action Advertising

Indirect action Advertising

5 M’s ofAdvertising

Mission

Money

MessageMedia

Measure

Product Life Cycle

Introduction

Growth

Maturity

Saturation

Decline

Advertising

Informative

Persuasive

Reminder

AIDA

Attention

Interest

Desire

Action

All 4

Objectives

Increase in sales

Increase in market share

Corporate Image

Provides Information Induces Trial and Repetitive buying.Builds Brand ImageHelps to build Brand preference and LoyaltyReduces Product PricePersuades and Reminds peopleReinforces Buyer’s decision

Advertisement is essential in today’s cut throat competition of Business

world because of the following reasons:

• To inform consumers of various goods or products and what these goods

or products can do for them. In a market of Perfect Competition

consumers are required to have Perfect knowledge. Advertisements helps

consumers in gaining this knowledge.

•In order for a new business to penetrate an already saturated market, a

systematic regiment of advertising plan is of utmost importance.

•Advertisements are also necessary for many forms of media to survive.

Television programs are mainly funded through advertising, as are most

websites.

https://www.google.co.in/search

en.wikipedia.org/wiki/Promotional_mix