Advertising strategy is an advertising plan developed by businesses to create awareness among the customers about the product or service and motivate them to purchase the same. An advertising strategy encompasses two components: Information and persuasion. The information part includes informing customers about product features and benefits, price changes and is crucial for building primary demand. Creating persuasion in your advertising strategy is important to build brand preference or change buyer’s perceptions especially in competitive markets.
In any advertising campaign, initially awareness is created among the customers about the product and then campaign is taken in the direction to arouse interest among the target audience so that in follow they make a purchase. An effective advertising strategy takes in factors such as characteristics of the target group, understanding the environment, market definition and effective assessment of product. Communication media is of paramount importance when it comes to formulate an advertising strategy. After the audience is segmented and targeted proper assessment of media channels is done.
The major channels used by businesses in implementing their advertising strategy are video (Television), Audio (Radio), Print media (newspapers, magazines, flyers), Internet (social media, direct mails) and Outdoor advertising (public transports and hoardings). Advertising strategy is important marketing strategy adopted by companies.
For Example; a car seller putting hoardings near all petrol pumps in the vicinity to highlight the benefit of its brand. Here he is responding to its target audience through a right medium thus resulting in an effective advertising strategy.
Hence, this concludes the definition of Advertising Strategy along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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