Informative advertising is used to raise awareness of brands, products, services and ideas. The objectives of advertising vary depending on the type of business, the distribution channels available, and the overall marketing strategy. The key to successful advertising is to attract the right buyers or, at least, engage potential buyers for closer scrutiny. Of all the objectives of advertising, there are three main objectives that can help drive every business to greater success. Positioning is a combination of a business objective and a marketing objective.
It is how the company wants the customer to perceive its products or services. It is important to note that positioning is different from branding. Branding is based on emotional response, visual elements and identification with a culture built around a company, rather than on specific perceptions about products or services. For example, Apple rates the company as an innovator, but positions iPad as the leader in the tablet market. The next main objective of advertising is the marketing mix.
This classic model consists of the product and the price, as well as the place and the promotion. The 4 P's cover an extremely wide range of factors, including public relations and advertising, pricing strategy, inventory management and warranties. Deciding on the marketing mix helps the company clarify issues such as how customers get the product or service and how much the company can expect to earn provisionally. The third main objective of advertising is market promotion. By using appropriate means of market promotion such as advertising, sales promotion and personal sales, companies can stimulate demand for their products.
Market promotion also informs consumers about changes made to existing products and the introduction of new products. It is an effective way to persuade consumers of product superiority over competition by communicating competitive advantages offered by the product. Sales may not play a vital role in market promotion but managers must keep a closer eye on sales and market shares and make changes to promotional programs if necessary. Through appropriate promotion strategies, companies can successfully introduce new products to the market in front of existing products. Advertising is one of the most effective tools to distinguish a product from its competitors. In conclusion, it can be said that market promotion has a crucial role to play in modern markets characterized by overinformed consumers, flooded products, ruthless competition and rapid changes.
Marketers can fight competition effectively, prevent their entry or drive them away from the market by formulating and implementing effective market promotion strategies. Market promotion can help companies increase sales, improve their image and maintain close contact with their target customers.
