Advertising Management Notes

Just like the bees are attracted towards flowers, we try to more are attracted to brands through advertisement. Side notes: Matrimonial advertisement, Recruitment notice Topic: product promotion Part 1 Introduction to Advertisement / Public announcement In a very simple words, we can say advertising is an announcement of a product to the general public through different means of communication, or video. Now, if you look at it broadly, we have a respective department for this process in the organizations or companies, which is known as marketing department. Advertising, we can say is a component of marketing. Advertising is a strategic communication process used by businesses and organizations to promote their products, services or ideas to a target audience. Diagram: Advertising -> (Communication Process) -> Encoder (Sender) -> [MESSAGE] -> Decoder (Receiver) Annotations on MESSAGE: Must be clear Gain attention of receiver Able to satisfy their needs 4P's of Marketing: P -> Product P -> Price P -> Promotion P -> Place Part 2 (1) Promoting Product or creating awareness about business [Promotion] (2) Consumer influence. [Advertisements are designed in a way so they can influence the buying patterns of consumer or consumer behavior.] (3) Brand enhancement. (4) Global Reach. (5) Innovation and Creativity. (6) social & cultural impacts. Side note on points 3-5: [Apple ads are simple & yet-to-the-point focusing on one key feature of their new product] Part 3 How Advertising is important to business/Functions (1) To Create brand awareness: The Role of advertisement is not merely promoting products or services but to present a overall image of the brand so that a goodwill of your brand can be established. By consistently showing brand's product, services or logo to a wide audience. Customers are able to recognize brand and it starts to become more familiar. (2) Customer Acquisition: (3) Competitive Edge: Advertising allows businesses to differentiate-themselves from their competitors. [(USP) "unique selling points"] (4) Building Customer's trust. (5) Increased Sales & Revenue. (6) Helps in reaching-to new market or expand the presence in-existing ones. (7) Customer Retention & loyalty. Part 4 Types of Advertising [Side note: more... clear & eminent] (1) Print Advertising: Includes newspapers, magazines, brochures, flyers & posters. Effective especially when you want to reach local audiences. (2) Television advertising (3) Radio Advertising: To reach out specific demographics or local-audiences. (4) Digital Advertising: Advertising on Internet. [display ads, banner ads, pop ups, etc.] (5) Social media advertising: [Of course uses the internet...] Part 5 Advertising Goals "if you are aware of your objectives or goals, you accordingly make plans or strategies to work things out" -> Different companies may hv different advertising goals based on their unique needs and priorities. Let's talk about some advertising goals :- [Side note: strong & positive brand image!] (1) Brand Awareness (Increasing brand familiarity) You are creating an impact on your target audience by increasing brand's awareness and making customer's aware of brand's existence & what it offers. (2) To increase Sales Revenue (3) Customer Retention: Keep existing customers engaged so that they can come back for repeat purchase is really essential for the long term success of a business. (4) Market Penetration: If a company wants to expand its marketshare in an existing market, advertising can play a important role here. (5) Differentiation: Showing how a brand or product is unique or-different from competitor product is a key advertising objective. (6) Repositioning: Advertising helps changing the image of a brand or help in targeting new audiences. Part 6 Public Relations (P.R) [Side notes: since 1900's, critical aspect of brand management organizations] (Hindi Text) Public relations is the strategic communication process that aims to build and maintain mutually beneficial relationships between an organization and its various shareholders, public, customers, employees, investors, media and government officials. "Some are born great, some achieve greatness, and some hire Public relations officers". Topic -> (1) Creating information which is newsworthy in the media to gain attention. Functions (2) Product promotion & publicity (3) helps in building a healthy relation with the general-public or community. (4) helps in building & maintaining relations with govt. officials or law making body, which is known as lobbying. (5) maintaining relationships with shareholders. Diff. b/w PR & Advertising -> Part 7 Public Relations (PR) Advertising (1) The main aspect of public relation is that it basically helps in maintaining and building a positive relationship b/w an org. and its various stakeholders including the public, customers, employees, investors and media. (1) The primary aim of advertising is to create awareness about a product or a service or a brand, basically persuading customers so that they can buy. (2) Through PR officials, organization need to earn media and that again depends upon the newsworthiness, relationships with media people & effective storytelling. (2) It involves paid media. (3) Org's here have more control over their message, by what they are conveying more control over the timing as well! (3) Org's have less direct control over how their messages are presented in the-media. (4) Comm. channels: Television, radio, print-ads, banners, social media ads, sponsored-content, etc. (4) Comm. channels: Press releases, interviews, events, etc. Part 8: Publicity -> It is like a subset of public relations. When a newspaper, magazine, T.V. or radio features a retailer's store, or a restaurant of its product or event is the publisher or network do not have to pay for it, we call it receiving publicity. What is anywhere is that the retailer can't control the time direction or the content of the message. Publicity is about creating a buzz & drawing attention to a particular subject through media channels. Publicity refers to the attention of awareness generated by the media of the public about a person, org, product, event, or an issue. Part 9: Sales management & its objectives :- {Ultimately -> - sales management in an org. involves planning, working on, implementing and analyzing strategies & processes to-sale effectively sell products or services to-customers.} So, here are the key objectives of Sales Management:- (1) Setting Sales Goals and targets SMART - specific, measurable, attainable, relevant & time-limited. (2) Strategies making identifying tarket market segmentation pricing strategies product positioning (3) Sales planning identifying KPI's (Key performance indicators) to measure success. (4) Sales training & development (5) Lead generation [Sales team work with marketing team] (6) Sales Forecasting (7) Adapting to Market trends & changes.