Scope and Importance of Advertising
Advertisements are important for:
- standardized products
- products aimed at large markets
- products that have easily communicated
features
- products low in price
- products sold through independent channel
members and/or are new.
Broadcast Ad spending is at an all
time high due to heavy competition in the:
- Computer industry
- Telecommunications Industry
- Auto Industry
Whenever severe competition between marketers, introducing new
products etc. Even with evolution of direct marketing, and interactive media.
Nature of Advertising
Used by many types of organizations
including Churches, Universities, Civic groups and charities, politicians!!
Need
to consider the following issues:
- Does the product possess unique, important
features to focus on Unique Selling Point (USP)
- Are the hidden qualities important to the
buyers
- Is the general demand trend for the product
adequate
- Is the market potential for the product
adequate
- Is the competitive environment favorable
- Is the organization able and willing to spend the required money to launch an advertising campaign
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