IMPORTANCE
OF ADVERTISING IN MODERN MARKETING
BY
SMART
LEARNING WAY
CONTENTS
Introduction
Definition of
advertising in modern marketing
Importance of advertising in modern marketing
Summery
Bibliography
INTRODUCTION
Every businessman earnestly attempts to maximize his profit. To attain
this goal he has to maximize sales of his goods or services. In order to ensure
sustained profit he employs various marketing techniques. The most important
among them are advertisement. Personal selling, and sales promotional
activities like window display, samples, premiums, exhibitions etc.
Advertisement is the most commonly used sales
technique by all business people. It is used to communicate to consumers the
Introduction of a product, policy, price, message, etc. In a modern
market, consumer are offered numerous identical products supplied by different
manufactures. Mixer grinders, television sets, toothpaste, etc. are example:-
ad available and when and from where to buy them. Therefore, advertisement is
advantageous to both producers and consumers.
Definition of
advertising in modern marketing
“
Advertising is the use of bright ideas, stunts and slogans to popularize
goods.”
“
Salesmanship in writing, print or pictures or spreading information by means of
the written and printed word and the pictures.”
“
Advertising is mass communication of information intended to persuade buyers as
to maximize profits.
The American marketing association has defined
advertising as “ any paid from of non-personal presentation and promotion of
goods, services or ideas by an identified sponsor.”
Mr.
Hall defines it as “ salesmanship in writing, print or pictures or spreading
information by means of the written and printed word and the picture.”
Importance of advertising in modern marketing
Advertising involves expenses but when the cost of advertisement is
compared with the cost of other ways of approaching a mass of prospective
customers, Advertising is a relatively less expensive method. Naturally, the
cost of sending the advertising message through personal calls by sales
representatives will be more higher.
Besides, when the company does not know the
names and addresses of potential customers, there is no other way except to
advertise through a mass media. There are other justifications and advantages
too.
Firstly,
Advertisement
makes the prospects aware of the product and its brand. In a market where
hundreds of consumer goods with different brands are produced, the consumer may
not even know as to how many varieties and brands of goods are available.
In this sense advertisement is ‘demanded’ by
the potential buyers as it is a demand for information. Though he may get
marketing information by various other ways, this method is easier and least
expensive.
Secondly,
Advertisement helps selling on mass scales
both by persuading new buyers in a given region and by extending the persuasion
to when regions. Without large scales, large scale production is unthinkable.
Thirdly,
It helps the retailers to stock goods which are better known and
therefore have better sales possibilities. The retailer’s time customers since
he already knows the product through advertisement seen or listened to.
Fourthly,
It promotes competition, and therefore, many advantages of competition
may follow.
Fifthly,
Advertising is a peculiarly attractive alternative to price competition.
Fluctuating prices are more likely to damage the firm’s market position than
fluctuating advertising expenditures. Similarly, a price reduction as a means
of increasing sales may evoke identical or similar behaviour on the part of the
firm’s competitors. On these situations concentration on advertising can offset
the need for price changes.
Again,
Advertising helps salesman while making personnel calls. Since the
audience are already familiar about the advertised product, the salesman’s task
becomes easier and his appeal effective for price changes.
Finally,
Advertising encourages the creative arts and the artists. In the process
it even develops an aesthetic sense in the society.
Advertisement is presumed to done mostly by sellers. But it need not be
so always. Sometimes competition among buyers may become far keener than among
sellers, buyers may then advertise to obtain scarce supplies.
Both the quality and the money spent on advertisement have increased in
recent times. This is both because the general importance has been realized and
because there are a number of objectives which may be served by advertising.
Conclusion:
Advertisement which is a way of giving message from founder to
customers. It conveys the productive information to whale world. Everyone has
two sides. Advertisement gives the information beyond the truth that creates
new customers.
Illiterate or literate human beings are highly influenced through this
mass media with the help of advertisement, it embrace the challenges and get
transformed buyer’s mind. The ather side of its that it creates open challenges
to other firm. In personal way, it helpful to encourage art and artist. If the
qualities of advertisement had apt, it would have give new customers and create
new era.
BIBLIOGRAPHY
1. Modern marketing principles & practices
#
R.S.N. Pillar
#
Bagavathi
# S.
Chand
2. Modern marketing management
#
K.C. Nair
#
Jose Paul
# J.
John
Himalaya publishing house
3. An introduction to marketing
Fifth
edition
# D.
Amarchand
# B. Varadharajan
4. Marketing management
#
Dr. C.B. Gupta
# Dr. N. Rajan Nair
Sultan chard & sons
5. Principles and practice of marketing in
India
# Dr. C.B. Mamoria
# R.L. Joshi
# Dr. N.I. Mulla
Kitab mahal
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