Posted in Marketing and Strategy Terms, Total Reads: 4741
Advertising is the concept of communicating a message about goods and services to a customer. Advertising is done using various media like TV, print, radio, online, outdoor etc where advertisements are showcased showing the value to the customer. Advertising is one of the most critical components of marketing.
Several companies are producing goods and products, which are critical for a customer to fulfil their needs. However, with tremendous competition and limited span of attention for a customer, it becomes difficult for a customer to know about a product or a service. Hence advertising plays an important role in communication the value proposition of a company’s offering to the customer. An advertisement clearly highlights the product/ service, its utility and also builds a connect with the customer. Advertising and marketing a brand enables to reach out, teach about the product and ensure that the customer is aware about the company. All these things can influence the buying behaviour of a customer.
Advertising can be broadly broken down into four major components:
1. Advertising strategy- Focuses on the message, customer segment to be targeted and the budget
2. Advertising media- Choosing the most appropriate advertising channel, medium or media to reach out to the customers
3. Creative idea- This is the message or the visual which can be made to attract the customer
4. Creative execution- The final advertisement created based on the creative idea.
The above images shows the four major components of advertising
Types of advertising media
Advertising is a massive exercise for any company. There are many options where ads can be showcases through an advertising medium. Companies often use all the media available to do a 360 degree branding. Some different types of advertising media used by companies are mentioned below:
1. TV- Television is one of the most developed ways to advertise. Advertising on TV is an effective way to reach to millions of people, as TVs have an extremely high penetration worldwide. The ad slots are given by broadcasting companies.
2. Radio- Radio channels offer ad slots to companies who can communicate their message to the customers.
3. Print- This type of media includes magazines, newspapers, brochures etc which can be used to advertise about the products and services offered by a company. This has been the most widely used advertising media till date.
4. Online- With the growth in internet penetration, companies often use online advertising to reach out to customer using social media, browsing websites etc. Online advertising also includes blogging, viral marketing etc
5. Outdoor- Using hoardings, standees, OOH (out of home) media are covered under outdoor advertising. This enables companies to reach out to those who are not an home but are outside their homes or office during transit.
6. Mobile- Use of services like SMS and social media groups has also made mobile an effective tool for advertising
Advantages of advertising
There are certain benefits of advertising. Some advantages of advertising are:
1. It helps to reach out to make people
2. Advertising promotes the value and utility of the brand to customers
3. Good advertisements help build a strong community and induce brand loyalty
4. Companies who focus on advertising are also perceived as big brands, which pushes customers to believe that products and services are also good
5. Creative teams form advertising agencies give good inputs about a brand
6. Helps sales force, retailers, shop owners to promote the products in a much better way
7. Advertising helps build trust between customers, retailers, suppliers and manufacturers
Disadvantages of advertising
Despite all the benefits, there are some critical disadvantages of advertising for a business:
1. Advertising means that the company has to do a lot of spending
2. Extremely time consuming process
3. Only advertising cannot help build a good business. Unless the product, services and customer service are good, advertising can only bring in customers but cannot retain them.