Businesses are always seeking to gain popularity, establish dominance in the market, and increase their level of sales. Various techniques have been employed, but one of the significant methods is through the process of advertising. Advertisements are an efficient, reliable, and effective way to promote the sale of goods and services. It is a form of non-personal communication where the business information is presented to the consumers.
Large scale production companies cannot think of producing and selling their goods without advertising them; advertisements widely promote and supplements personal selling of the products at a high level. In our modern world, due to stipe competition in the market and changes and upgrades being made on products, it is necessary always to have a means of reaching out to your audience. This can be conducted through regular adverts.
Advertising is everywhere billboards, newspapers, televisions, radios and so many more mediums. Businesses are always trying to reach out to their consumers. Thus, it is critical for companies, even beginners, to have a stable means of product advertisement. This is because they will spread the word to consumers, make known their products and brands, and also provide contact information to consumers. It’s with no doubt that advertisement is an essential aspect of any organization.
Objectives of Advertising
When a business carries out advertisements, there are various objectives that it aims to fulfill. This can also be referred to as the multiple goals of any advertisement media used by an organization. Some of these objectives include;
- Introduction of a product – this might be one of the significant objectives sought by businesses. Advertisement is applied to communicate about a new product that has been introduced in the market.
- Introducing the various brands of product – in a situation where an organization has unleashed a new brand of a product, advertisement is applied to notify the consumers who might be interested.
- Creation of awareness – one of the essential jobs of advertising is to capture the attention of consumers and make them aware of a product, its features, and its use. It creates awareness among the clients that the product exists in the market.
- Differentiation and value creation – adverting is also used to differentiate a business’s goods or services from those of the competitors. Consumers can separate the services and commodities based on the value provided.
- Increasing sales and profits – sale increment is also another primary goal of any advertisement means applied by an institution. An increase in sales will significantly lead to a rise in the level of profits gained.
Types of Advertising
There are various types of advertisements. They include:
- Local Advertising – this is the kind of advertising and promotion that an organization undertakes primarily in its specific location or territory. Advertising locally holds many benefits to small businesses and sole traders. Examples of local advertising include;
- Leaflet distribution
- Boards and postcards in shops
- Local organization’s newsletters and magazines
- A sign outside the business premises
- Internet and online advertising – as the name suggests, this is the type of advisements conducted through the internet. This is becoming the fastest growing form of advertising. Due to rapid technological advancements, there is a spread of smartphones and computers. Thus people spend a considerable amount of time online. Therefore, business takes this chance to communicate with these consumers. Examples include;
- Advertising on a business website.
- Posting ads in websites
- Getting into an online directory
- Outdoor advertisements – this refers to the outdoor mediums used, such as the bus caravans. It must be noted that to conduct this type of publication; there is a need to have a permission permit.
- Media Broadcast advertising – this is the type of advertisement that is conducted through the broadcasting of the adverts on media platforms such as radios and televisions.
Features of Advertising
There are several characteristics paired with the actions of advertising. These characteristics include;
- It’s a paid form of communication – advertisements on TVs, radios, newspapers all pay for time and space to pass information to prospective consumers.
- It’s a non-personal presentation of a message – in the course of advertising, there is no face to face interactions with the consumers. Advertising is a non-personal form of presenting products and services.
- An identified sponsor issues advertisements – the identity of the businessman behind the ad must be disclosed. Lack of transparency in this may lead to propaganda. The source of the idea to the ad has to be presented to the consumers.
- The purpose of an advertisement is to promote the idea of the goods and services of a business.
Medias Use for Advertising
There are several media that a business can apply and use for the purpose of advertising. Some these include;
- Social media and Internet platforms
- Direct mail
- Films and cinemas
Factors to consider/ Evaluation of Advertising media
There is no one medium/media for all similar units. The individual circumstances determine the best type of advertising. But several factors have to be considered to select the type of advertising media, which can also be used as evaluation points of any media to be applied. They include;
- Nature of the product being advertised – product needed by a vast mass of people will engage primary advertising techniques such as radio, TV, printing, and more. While products required by a particular small group can use minor advertising technologies such as printing only.
- Potential market – an advert that aims to carry messages to prospective buyers. One should consider the social status of the market to reach. For example, if the market has wealthy people use of magazines is more appropriates, but if it has low and middle-status individuals, then broadcasting adverts will be appropriate.
- Types of distribution strategies applied by the organization – a product have to use an advertising media that is supported by its distribution network.
- Objectives of advertising – though the main aim is to reach out to consumers, businesses may target a local or national population; thus, the medias used in such a situation will vary.
- Budget available – one of the critical factors to be considered is the budget available; if the organization has a high budget, then the media used will be different compared to a lowed budget organization.
- Competitors media – every business always wants to be ahead of its competition, thus if a competitor is using leaflets to advertise, then to be ahead of such a company will call for a more sophisticated method such as radio and TV.