“Advertisement may be described as the science of arresting human intelligence long enough to get money fro it” – Stephen B. Leacock
As described, above advertisement is nothing but a paid form of communication of idea which aims at creating an impact on the potential customer. It may be any non-personal form of presentation or promotion of goods, service or idea by any identified sponsor. Advertisement aims at making people them aware about a particular product and changing their perception about it by creating an impact in their minds. Advertisement is a very important tool for any company to compete in the market, as the market is expanding and competition is becoming intense it is important to continuously persuade the consumer to buy the product.
It is important to be completely aware of the objective of the company before making an advertisement of any of their product. Therefore good advertisement can be made with the help of five M’s i.e., the mission of the objective which may be capturing the market share or increasing the sales. The money involved is the next factor which needs to be considered for creating good advertisement. Huge sum of money invested in wrong kind of advertisement will be of no use. The message that the company wants to convey by their advertisement should be very clear and should keep focus only on that. The media used to advertise has become very important factor, as different kind of media is used now a day to reach different kind section of people. Large number of people can be reached with less cost by using media is the right manner. The last factor is measurement that is the comparison of the initial objective with the final outcome. The comparison can bring out the result and thus further strategies can be built on it.
Advertisements can be basically categorized in three categories:
The main objective of informative advertisement is to educate the customers with the benefits or the kind of product. It focuses on the quality and usage of the product. It aims at building a brand for the company by communicating the customer value.
Ex- The Times of India advertisement- about a small boy trying to lift a fallen tree on the middle of the road.
i) Persuasive advertisement
The objective of persuasive advertisement is generally to increase the demand of the good or service which already exists in the market. Through the medium of advertisement the company wants to influence the buying behavior of the potential customers.
Ex- Samsung Android phone advertisement.
ii) Reminder advertisement
The prime objective of reminder advertisement is to keep the customers interested in the particular product. Generally same techniques and methods are used to create this kind of advertisement in order to reinforce the information by keeping the existing customer aware and also helping to create new customers.
Ex- Kit Kat advertisement of squirrels dancing.
Therefore, good advertisement is very important for any company to bring their product or service in front of the public. The right kind of advertisement helps the company is achieving various objectives like increase in sales, generating high revenues or increasing the market share of the company.
(PGDM 1st yr)