Advertising and Promotions

WHAT IS MARKETING?
There are many definitions used to describe marketing. One of commonly accepted definitions, comes from the American Marketing Association:

‘Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives”.

The Chartered Institute of Marketing in the UK defines marketing as:

"Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably."

In other words, it is a total system of interacting activities designed to plan, price, promote and distribute products in a way that is profitable to an organistion.

This definition tells us that marketing and analysing the market:

1. Involves a wide range of activities.

2. Is directed at a wide range of both ideas and products.

3. Stresses the importance of satisfying exchanges, that is, the parties involved gain something in return.

4. Not limited to the activities of just businesses.

At the core of these activities is the most important question all businesses should continually ask:

“What do customers want to buy – now and in the future?”
and
“What are they buying now?”

This is what marketing is all about – finding out what customers want and then trying to satisfy those needs.

PROMOTIONS
Promotions are commonly based on the following principles:

1. High Credibility
News or features seem more credible than an advertisement. If an article is written about a new product being introduced, this is a more credible way for someone to learn about that product than to learn through an advertisement.  This can also include "advertorials" where a company may place an article in a relevant publication which explains and exctols their particular product.

2. Catching People Off Guard.
People who might avoid advertisements or other sales approaches, will often read an article or listen to a news item about a product or service.

3. Dramatising Products or Services.
Special, extraordinary events can be attached to product launches as a way of dramatising the product. Someone might be provided with the product to use on a round the world trip - this would dramatise how the product could be used.

PRINT ADVERTISING
Print advertising was more significant before the internet. Today adverts appear both in the electronic and print media, and there is still very much a place for both.

Adverts selling products or services appear in magazines, newspapers, and even books. Local newspapers may advertise local products and businesses, such as taxi firms, local restaurants or shops. Whilst national magazines or newspapers may include adverts from around the country. Local print advertising is usually cheaper than national advertising, so again it is essential to consider what would be the most effective form of advertising.

For example, a taxi firm in a small town in England would probably not find it cost effective to advertise in a national newspaper.

Print advertising can work very well for any range of products, but again targeting is essential. It is important to look at the type of magazine or newspaper and consider if it is worth advertising in there. As with the national and local newspapers, magazines should also be carefully considered. It would not be cost effective to advertise holidays for retired people in a magazine aimed at teenagers or sci-fi products in a magazine about country living. It is about finding the right magazine for your product or service to make the cost of the advertising worthwhile.

Marion sells baking equipment and produce – cupcake moulds, decorations for cupcakes and cakes, cake cases and so on. She advertises in craft magazines, but also advertises in magazines aimed at parents of young children as she finds they are often interested in craft and cookery with their children.

TESTING ADVERTISEMENTS
Advertisements may be tested through a number of means. For example, advertisements on website pages can be monitored using 'cookies' or other data to find out things like who clicks on the adverts, how often, how long they stay on the page, and so forth. Different aspects of an advertisement may be analysed for their effectiveness in communicating the message about the product. A raft of different advertisements may be launched and those which receive the most 'hits' can be chosen to go forward with.

Laboratory testing of advertisement effectiveness can also be used. This may involve filming or observing participants responses to advertisements presented on a computer screen. Software which records what they click on and how long they view it can also be used. In other instances, advertisement may be presented in magazines for viewing. One strategy is to present binocular images, being two images of equal size, presented side by side.  Whichever of the two images receives the most interest may be singled out for use in advertising campaigns.

Are you interested in marketing or advertising?  Learn more through our great courses, including:
Advertising And Promoting
Internet Marketing
Associate Diploma In Marketing

 
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What is Marketing?

There are many definitions used to describe marketing. One of the most commonly accepted definitions today, comes from the American Marketing Association:

‘Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives”.

In other words, it is a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers.

This definition tells us that marketing and analysing that market:

1. Involves a wide range of activities

2. Is directed at a wide range of both ideas and products

3. Stresses the importance of satisfying exchanges, that is, something in return

4. Not limited to the activities of just businesses

At the core of these activities is the most important question all businesses should continually ask – “What do customers want to buy – now and in the future?” as well as “What are they buying now?”.

This is what marketing is all about – finding out what customers want and then trying to satisfy those needs.

PROMOTIONS

Promotions are commonly based on the following principles:

1. High Credibility

News or features seem more credible than an advertisement. If an article is written about a new product being introduced, this is a more credible way for someone to learn about that product than to learn through an advertisement.

1. Catching People Off Guard.

People who might avoid advertisements or other sales approaches, will often read an article or listen to a news item about a product or service.

2. Dramatising Products or Services.

Special, extraordinary events can be attached to product launches as a way of dramatising the product. Someone might be provided with the product to use on a round the world trip...this dramatises how the product could be used.

Learn more through our Advertising and PR Course

[20/04/2024 04:42:13]

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