Promotion Revision Notes
Definition of Promotion:
“Promotion is the method you use to spread the word about your product
or service to customers, stakeholders and the broader public.”
In
other words, promotion is when a business promotes their products and services
using different methods in order to persuade customers to purchase the products
as well as services.
What is advertising?
“Advertising
is a form of communication designed to persuade potential customers to choose
your product or service over the competitor’s.”
Advertising
can be taken in the form of different methods such as:
-
Sound & moving media - television
-
Audio – radio
-
Print advertising – billboards, magazines, newspapers
-
Social media advertising – Facebook
-
Moving vehicles – trucks, buses aircrafts
-
Press advertising
-
Cinema
-
Ambient & non-ambient
-
Point of sale
-
Direct mail
All
these are different ways in which advertising can be done and these can depend
on what the business is selling or what service they are providing to their
customers.
Although
advertising helps to increase the awareness of different products and services,
there can be some advantages as well as disadvantages that businesses need to
consider before they advertise to their target customers.
Advantages
- Advertising
can inform people about different products and services, their utilities,
cost and other requirements, and help us in making better purchases.
- Advertisements
of non-commercial issues like AIDS, Polio can help in educating people and
notifying them of events and programs related to them.
- For
advertisers, advertisements can help in attracting huge number of
potential customers and make positive impact about their products and
services.
- Advertisements
create a brand name for the product being promoted. People can recognize
the products from the catchy advertisements they see and thus sales are
also improved.
- Advertising
can lead to direct feedback from customers. It has been seen that a lot of
opinions are received by advertisers on their product/service, which helps
in improving the product
Disadvantages
1) Adds to Costs:
An organisation has to spend large
amount on advertising. It increases the cost of the products. Advertising,
therefore, leads to unnecessary rise in prices. In this reference it is said
that advertising costs are passed on to the consumers in the form of high
prices.
(2) Undermines Social Values:
Advertisement is a sort of
day-dreaming for the people. They want to buy them but have no resources at their
command. Consequently, they start feeling upset with their present status.
Taking it as a social evil, it can be said that advertisement undermines social
values.
(3) Confuses the Buyers:
Many a time distorted version of
reality is shown in the advertising. Believing in advertising, consumers buy
the product. They come to realise later that the information given in the
advertisement was something else whereas the actual product was quite different
from it.
(4) Encourages Sale of Inferior Products:
Every manufacturer projects his
product as superior one in the advertisement. Therefore, the buyer is unable to
decide as to which product is really good.
(5) Some
Advertisement is in Bad Taste:
Many times, foul language and
objectionable pictures are used in advertising in order to attract a particular
class. They may be insulting to a particular class. It causes decay of social values.
Such kinds of advertising are generally opposed by the people as it hurts their
feelings.
Why do businesses advertise?
The
objective of advertising is to increase a business’s profits by increasing
their sales. By advertising, it helps aim to:
·
Make your business
and product name familiar to the public
·
Build a favourable
image
·
Educate and inform
the public
·
Offer specific
products or services
·
Attract customers
to find out more about your product or service
Factors
considered when planning this type of promotion
- Cost –is it cheap or expensive?
d Target audience- who is your target market and why
- Form of media - tv, radio, leaflets, brochures, posters
s
Videos
to help with the understanding of advertising:
example
of coca cola
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