Trends and Techniques of Advertising and Marketing
Advertising and marketing is one of the effective tools for creating awareness about business products and services. Every international business is practicing aggressive promotional strategies for building image about its business which is costly for small businesses due to various constraints. Various modes of advertising are print, outdoor, transit, broadcast, audio-visual, publicity, public relations, sales promotion, personal selling and direct marketing, etc.
Number of organizations doing international businesses is increasing every year. They see whole world as single market and formulate the marketing mix to suit the international customers. Market reports have determined that strategies in this industry vary with market segment, market size, etc. It is very difficult for the organizations to formulate appropriate marketing strategies, message, mission, and media for product promotion. Many international organizations have a separate advertising and marketing department who extensively carry-out these activities. Another alternative which most of the companies prefer is advertising agencies. These agencies carry out all promotional activities for the business organizations for some fees or commission.
Some modern techniques in marketing are ambush marketing, online-marketing, mobile marketing, business cards, sponsorships, workshops, create a blog, use twitter, face book. Some of the low cost affordable marketing strategies would be brochure, website, cold calling, etc. But in case of international businesses e-marketing would be the best mode for advertising.
Advertising market research reports have found that Television Advertising is the most widely implemented medium of brand promotion. Radio Advertising is profitable and cost-effective device which targets rural areas. Outdoor Advertising has also increased after the introduction of digital technology. Guerrilla advertising is one of the trends adopted by the businesses for promotion.
Some trends in advertising include email advertisements, banner regular and digital, flash, niche marketing, etc. In niche marketing rich people or high-class people are targeted and the advertising. Some effective marketing strategies used by companies are gain customer confidence, promote the products or services with unique selling proposition, build enthusiasm about the product in the minds of customers through advertising message, discount and schemes, sales promotional tools, etc.
Research reports have determined that it is easy to advertise a new product than established products. The biggest obstacle in advertising is the attitude of the advertising agencies. The agencies feel that they know the market conditions very well and fail to conduct research for each product which may result in ineffective promotion of product. Some of the strategies for successful advertising are development of blueprint, pretest of advertising, and tracking research.
Marketing mix plays an important role in effective promotion of products. Marketing mix consists of product, place, price, promotion, and people. The basic objective of marketing is to attract the customer, increase sales, satisfy existing customers, expand market share. One of the important steps in marketing process is segmentation. Segmentation refers to dividing the whole market into groups based on similar characteristics. Various marketing strategies are used for different segments like geographic segmentation, demographic segmentation and psychographic segmentation.
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