Nature, scope and benefits of advertising
What is advertising?
Advertising is the means of informing and influencing a vast audience to buy a product or service through visual, oral or written messages. Advertising can be described as a paid form of non-personal presentation and promotion of ideas, goods or services. A business that wants to step into markets and make a mark definitely needs advertising. There is hardly any organization that does not advertise these days. Advertising can be done through various media such as newspaper, magazines, television, radio, posters, hoardings, billboard and in recent times, the internet.
Nature of advertising
Advertising is the prominent element of the promotion mix. Advertising has a huge reach and is pervasive in nature. Here’s more about what an advertising message should have:
- Attention seeker
The term ‘advertising‘ is derived from the Latin word ‘advertere’ that means ‘to turn the attention’. Every piece of advertising attempts to seek the attention of your audience towards a product or service.
- Has a unique selling proposition
Often, the advertiser need to have a unique selling proposition (USP). This unique selling proposition makes the product or service stand out of the crowd. Advertising attempts to persuade and influence the audience through the different kinds of appeal.
- Visually attractive
The visual and non-verbal elements play a dominant role in advertising. An eye-catching advertisement uses crisp information and focuses on the visual treatment to convey the message. The visual elements used in the advertisements not only convey the information, but also tell a story.
- Consumer oriented
Advertising broadens the knowledge of the consumers. With this nature of advertising, consumers can have the know how of the products, brands or services that exist in the market. In fact, every product or service is designed in a way to keep the consumers satisfied.
- Uses various media
Apart from print platforms like newspapers and magazines, its presence can now also be seen in audiovisual platforms like, films, hoardings, banners and many such promotional campaigns.
Scope of advertising
Advertising is often regarded as the most important means of marketing a company’s services and tools. The scope of advertising is to communicate a message to current customers or potentially target new customers. It helps a company get a message or a piece of information across to their customer base regarding a new product or special deal.
- Scope of advertising by budget
There is always a budget allocated for advertising and promotion within the marketing budget. The budget allocated should be in coordination with the type of advertisement the organization wants. The resources and other requirements are to be kept in mind for the budget allocation.
- Scope of advertising by deliverables
Once the budget is decided, the marketing plan can be projected further. A detailed scope of work that deliverables require can be outlined. Agencies can now develop a proposed resource plan.
- Scope of advertising by allocating deliverables
For creative work, allocating the type of deliverables (TV, online, mobile, press, magazine, etc) based on the previous campaign requirements can be more insightful after the previous plan.
- Scope of advertising by strategy
Once the deliverables are allocated, advertising agencies can define the strategic requirements by brand or category and develop a scope of work based on past requirements and remuneration for similar strategic deliverables.
Benefits of advertising
Advertising is a huge industry. It has created opportunities for various domains. The benefits of advertising include:
- Launch of a new product:
Advertising plays very significant role in the introduction of a new product in the market. It stimulates the people to buy or know about a product.
- Increases markets:
It helps the manufacturers to expand their markets. It opens the horizons for new markets for the product or service.
- Mass sales:
Advertising facilitates mass production to goods that ultimately results in a raised volume of sales.
- Keeps the competitive spirit alive:
Advertising helps in keeping the competition and the competitors at bay. It keeps a regular check on the performance of your brand or product.
- Creates goodwill:
Advertising builds goodwill of a brand. Advertising is a crucial source through which the audience gets to know about a brand or product. If a company is spending on advertisement, it means they care to make their consumers aware. This increases the goodwill of a brand.
- Creative minds:
Every place has a rich pool of strategic and creative minds, media and professionals. And every advertising organization possesses such talents.
- Consumer awareness:
Advertising is educational and dynamic in nature. It educates the customers about the new products and their diversifications.
- Direct link:
Advertising aims at establishing a direct link between the manufacturer and the consumer. This rules out the possibility for a middlemen to be involved in between.
- Creates employment:
Advertising provides and creates more employment opportunities for many talented people in the industry.
The experience of the advanced nations shows that advertising is greatly responsible for raising the living standards of the people. In the words of Winston Churchill “advertising nourishes the consuming power of men and creates wants for a better standard of living.” By bringing to the knowledge of the consumers, the choices available to them, advertising has transformed the world.