essence of advertising in promotion mix
TRANSCRIPT
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