What is advertising ? benefits of advertising, importance advertising,branding, branding managerment

WHAT IS ADVERTISING?

 

 Advertising is a basic form of marketing, one of the aspects of mass communication; it is the part that involves in obtaining a concern of your business, product or service that you are offering. It is actually brand-building through effective communication and is essentially a service industry. Advertising is also a component of the marketing process, helps to create demand, promotes marketing system and boosts economic growth.

 

Advertising plays a significant role in today’s highly competitive world and at the same time it copes with challenges while more and more advertising agencies opening up every day. It is an idea profession for creative individuals who can handle work- pressure. Whether you are personalities, a small business, a brand, company, joint venture or even voluntary or religious organization, all of them use some forms of advertising in order to be able to communication with the target audience.

 

Advertising is the means of informing as well as influencing the general public to buy products or service through visual or oral messages. A product or service is advertised to create awareness in the minds of existing and potential customers/ buyers. The changing in social trends of advertising industry has shown rapid growth. Some of the commonly used media for advertising are TV, radio, website, newspaper, magazines, bill boards, hoardings ect…

 

BENEFITS OF ADVERTISING

 

- Economic benefits of advertising:

 

Advertising can be a useful tool for sustaining honest and ethically responsible competition that contributes to economic growth in the service industry development. It can play an important role in the process by which an economic system guide by moral and responsible norms and responsive to the common good contributions to human development. Advertising informs people / consumers about the availability of rationally desirable new products and services, improvements in existing ones, helping consumers to be informed, make prudent decisions, contributing to efficiency and lowering of prices, stimulating economic progress through the expansion of business and trade. All of these can contribute to creation of new jobs, increase employment, higher income.

- Moral and religious benefits of advertising

 

Many benevolent social institutions, including those of a religious nature, use advertising to communicate their messages, toward concerning health, education, they are constructive and helpful messages that educate and motivate people in a variety of beneficial and good ways.

-     Cultural benefits of advertising:

 

Due to advertising impact on media, advertisers have an opportunity to exert a positive influence on decisions about media content by supporting material of excellent intellectual, aesthetic and moral quality presented with the public interests and by encouraging and making possible media presentations which are oriented. Moreover, advertising can itself contribute to the betterment of society by uplifting and inspiring people and motivating them to act in ways that benefit themselves and social community.

 

IMPORTANCE OF ADVERTISING

 

Advertising is to inform, to communicate a message of new products or service to people/ consumers as the flow of information about a product or service from seller to the buyer. However, advertising does not end with the flow of information alone. It goes further to influence and persuades people to take a desired action such as placing an order to buy a product.

 

The consumer market has become highly competitive with a new brand being born almost every day. Irrespective of the kind of product you are looking for or the number of brands available is truly mind. Naturally it is the prime concern of every marketer to promote their brand as a picture better than their competitor’s.

 

However, simply informing a customer that a brand exits is not enough.  Advertising should be targeted towards the prospective audience in such a way that it forms a positive impact on the customers and in the process creates brand recognition. So marketers generally target advertising campaigns at the groups of customers.

 

BRANDING

 

A brand is a promise to the customers like a mirror in which the customers see a reflection of themselves and identify with or reject the promise they see. It is also a reflection of your organization; your brand serves to define your organization and influences every aspect of your operation and corporate culture. The power of your brand has far – reaching impact on valuation, on marketing cost and even on employee retention rates.

 

Powerful brands succeed by establishing a relationship and a connection with their customers. To establish that connection and to earn a place in their world, a brand must know its customers and become a part of how customers want to see themselves.

 

Brand concept is to help potential audiences / people define who they are in the world full of change and confusion. And to tell them which choice is right to make final decision.

 

A brand needs to be advocated by an intangible agreement between a consumer and the enterprise (customer and the company) selling the products or services under their brand name. Some customers prefer a particular brand; basically agree to select that brand, some select primarily on the brand’s reputation or prestige. Sometimes, customers may stray from the brand because of price, quality, service, accessibility or other factors, to some certain lever of allegiance until a different brand gains acceptance and then preference with the buyers. Until that time, the buyers may even pay a higher price for the goods or service because of their commitment or intangible agreement to buy the brand.

 

In return for brand loyalty, the buyers will expect the benefits from the brand. They may expect extremely high quality, durability and performance of a machine or a good service. They will also expect to receive emotional benefits related to public perception of their wealth or social status to buy the brand.

 

BRANDING MANAGEMENT

 

Branding is the foundation of marketing and is inseparable from business strategy. As a brand is a combination of attributes, communication through a name or a symbol or a logo that influence a though- process in the mind of an audience and creative value.

 

As branding is deeply anchored in psycho-sociology, it takes both tangible and intangible attributes such as functional and emotional benefits. Those attributes compose the belief that the brand’s audience recalls then they think about the brand in its context...

 

The value of a brand resides for the audience in the promise that the product or service will deliver. A brand can recall memories of a bad experience, and then the value for the audience would be to avoid purchasing that brand. Branding is the blend of art and science, it involves on selected tangible and intangible attributes to differentiate the brand in an attractive, meaningful and compelling way for the targeted audience.