4th chapter- marketing & financial services

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Meaning of advertising Meaning of advertising agencies Functions of Advertising Agencies Types of advertising agencies MEANING OF MARKETING SERVICE IMPORTANCE OF MARKETING IMPORTANCE OF MARKETING SERVICE FEATURES OF MARKETING SERVICE MARKETING RESEARCH BENEFITS OF MARKETING RESEARCH Functions of marketing research agencies

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Page 1: 4th chapter- Marketing & Financial Services

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Page 2: 4th chapter- Marketing & Financial Services

the act or practice of calling public attention to one's product, service,need, etc., especially by paid announcements in newspapers and magazines, over radio or television, on billboards, etc.

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These agencies take all the efforts for selling the product of the clients. They have a group of people expert in their particular fields, thus helping the companies or organizations to reach their target customer in an easy and simple way.

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1.Attracting clients : Advertising agencies seek the public attention by

offering them various services. It offers expert, cheap, & quick services by various new techniques and so it tries to provide them full satisfaction.

2.Research function : Ad agency analyses all the collected information

properly and draws conclusion for its research. It helps in planning an advertising campaign, selection proper media and creation function

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Advertising planning is the primary function of an ad agency. Its done by expert who use the professional experience to make the result oriented advertising plan.

After making the advertising plan, If the client likes and approves it, then the plan is executed.

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Creation of ads is the most important functionof an ad agency. Generally, it involves activitieslike: Copy writing, Drawing photographs, Making illustrations, layouts, an effective ad message,

etc

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 It must choose media, which has a potential to give best results for the lowest cost

For example, an advertisement can be put on television, the Internet, newspapers, magazines, etc.

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Without a proper advertising budget, there is a risk of client's funds getting wasted or lost. If an advertiser suffers a loss, he may not bring new projects. As a result, there is a possibility of losing a potential client that can bring more business to an ad agency.

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Advertising agency brings a good coordination between the advertiser, itself, media and distributors.

If coordination is proper, it will increase the sales of the product.

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Advertising agency performs sales promotion. It helps an advertiser to introduce sales promotion measures for the dealers and consumers. This helps to increase the sales of the product.

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Advertising agency helps its clients to solve their marketing problems. It does so by conducting a marketing research for them.

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It fixes the prices of the product, It determines the discounts,

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Advertising agency does the public relations (PR) work for its clients. It increases the goodwill between its clients and other parties like consumers, employees, middlemen, shareholders, etc.

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Full service agencies A full service agency is one that provides a direct

relation to the Copyright, Artwork, Ad production, Media planning etc

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Their basic interest is in the creation of the advertisement or branding. Other ("full-service") agencies offer design in conjunction with media buying. Media agencies concentrate on media buying.

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They may specialize in certain functions (copy, art, media), audiences (minority youth) or industries (health, computers) or in a marketing communication area (direct marketing, sales promotion, public relation)

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An In-House agency is a team within a company that focuses on selling the company's product; they will handle all aspects of the brand

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A regular gathering of people for the purchase of provisions like stock, and other commodities and area or arena in which commercial dealing are conducted is a place where buyers and sellers will meet to gathers in order to purchasing and selling of goods or products

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Marketing services are the methods used in the over all marketing plan of productions, pricing, promotion and distribution

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They help in creating informative and innovative communication message to attract new customers

They help in understanding customers needs and tastes They provide employment opportunities for many

people They ensure better and improved provide customers

service They help in offering product choices They help in reducing marketing cost They help in matching the product with customers

needs

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The importance of marketing service consists of market research, advertising, promotion and public relation

Market research involves gathering statistical data to developed organizations marketing strategy and plan

Advertising and promotion focuses on communicating information to the consumer as well as increasing

Public relation deal with activities that build a strong and trust worthy image a moung the public

They help in product design and development They help in offering product choices

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Customer focus and concern Continuous innovation to find new ways of serving

customers Aims at customers retention and satisfaction Marketing service aims at building brand to companies

product or service Marketing service aims at competitive advantage

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.Marketing research keeps informing the organization about the changes in taste and preference of consumer from time to time

.Its help in discovering new market for the existing market

.Its greatly helpful in the improvement of the quality of the product

.Marketing research is the continues process if it is conducted regularity ,companies can achieve wonderful marketing result

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Its helps business units grow its activities through creating good will in the market and also enables a business units to earn high profit

Its useful for the selection and training of staff in the sales organization

Acts as sales booster as it establishes direct relation with consumers there by knowing there requirements

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Discovers the newlines of production in addition to the existing one ……….

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DESCRIPTION: Marketing research agencies gives full description about the consumers it describes there age sex, education, income, etc..

EVALUATION: Marketing research agencies helps to evaluate the companies performance . It finds out the customer reaction to the quality of the product price, packaging, advertising, sales, promotions, techniques , etc..

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EXPLANATION: Marketing research agencies gives explanations for all the marketing problems it gives all the causes or reasons for the problem it also tells how to solve the problem..

PREDICTIONS: Marketing research agencies also

gives predictions mean to forecast or guess about the future it gives..

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A predictions about the future sales, future markets, opportunities , future risks , future marketing , environment , future consumer behavior etc..

AID IN DECISION MAKING: Marketing research agencies helps the marketing manager to take decisions it provides al the concerned data which is necessary to take decisions…..

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