IMPORTANCE OF ADVERTISING IN MODERN MARKETING- MARKETING MANAGEMENT



IMPORTANCE OF ADVERTISING IN MODERN MARKETING
BY
SMART LEARNING WAY


CONTENTS  
 Introduction
Definition of  advertising in modern marketing
Importance of advertising in modern marketing
          Summery     
      Bibliography

INTRODUCTION
           
           Every businessman earnestly attempts to maximize his profit. To attain this goal he has to maximize sales of his goods or services. In order to ensure sustained profit he employs various marketing techniques. The most important among them are advertisement. Personal selling, and sales promotional activities like window display, samples, premiums, exhibitions etc.
    
              Advertisement is the most commonly used sales technique by all business people. It is used to communicate to consumers the

          Introduction of a product, policy, price, message, etc. In a modern market, consumer are offered numerous identical products supplied by different manufactures. Mixer grinders, television sets, toothpaste, etc. are example:- ad available and when and from where to buy them. Therefore, advertisement is advantageous to both producers and consumers.

Definition of  advertising in modern marketing
“ Advertising is the use of bright ideas, stunts and slogans to popularize goods.” 

“ Salesmanship in writing, print or pictures or spreading information by means of the written and printed word and the pictures.”

“ Advertising is mass communication of information intended to persuade buyers as to maximize profits.

 The American marketing association has defined advertising as “ any paid from of non-personal presentation and promotion of goods, services or ideas by an identified sponsor.”

Mr. Hall defines it as “ salesmanship in writing, print or pictures or spreading information by means of the written and printed word and the picture.”

Importance of advertising in modern   marketing
   
 Advertising involves expenses but when the cost of advertisement is compared with the cost of other ways of approaching a mass of prospective customers, Advertising is a relatively less expensive method. Naturally, the cost of sending the advertising message through personal calls by sales representatives will be more higher.

Besides, when the company does not know the names and addresses of potential customers, there is no other way except to advertise through a mass media. There are other justifications and advantages too.

 Firstly,

           Advertisement makes the prospects aware of the product and its brand. In a market where hundreds of consumer goods with different brands are produced, the consumer may not even know as to how many varieties and brands of goods are available.
In this sense advertisement is ‘demanded’ by the potential buyers as it is a demand for information. Though he may get marketing information by various other ways, this method is easier and least expensive.

Secondly,
           
 Advertisement helps selling on mass scales both by persuading new buyers in a given region and by extending the persuasion to when regions. Without large scales, large scale production is unthinkable.

Thirdly,
         
           It helps the retailers to stock goods which are better known and therefore have better sales possibilities. The retailer’s time customers since he already knows the product through advertisement seen or listened to.

Fourthly,
  
           It promotes competition, and therefore, many advantages of competition may follow.

Fifthly,
             Advertising is a peculiarly attractive alternative to price competition. Fluctuating prices are more likely to damage the firm’s market position than fluctuating advertising expenditures. Similarly, a price reduction as a means of increasing sales may evoke identical or similar behaviour on the part of the firm’s competitors. On these situations concentration on advertising can offset the need for price changes.

Again,
       
              Advertising helps salesman while making personnel calls. Since the audience are already familiar about the advertised product, the salesman’s task becomes easier and his appeal effective for price changes.

Finally,
 
          Advertising encourages the creative arts and the artists. In the process it even develops an aesthetic sense in the society.
          Advertisement is presumed to done mostly by sellers. But it need not be so always. Sometimes competition among buyers may become far keener than among sellers, buyers may then advertise to obtain scarce supplies.
         Both the quality and the money spent on advertisement have increased in recent times. This is both because the general importance has been realized and because there are a number of objectives which may be served by advertising.

Conclusion:  

          Advertisement which is a way of giving message from founder to customers. It conveys the productive information to whale world. Everyone has two sides. Advertisement gives the information beyond the truth that creates new customers. 

         Illiterate or literate human beings are highly influenced through this mass media with the help of advertisement, it embrace the challenges and get transformed buyer’s mind. The ather side of its that it creates open challenges to other firm. In personal way, it helpful to encourage art and artist. If the qualities of advertisement had apt, it would have give new customers and create new era.
 

BIBLIOGRAPHY

1. Modern marketing principles & practices
   # R.S.N. Pillar
   # Bagavathi
   # S. Chand

2. Modern marketing management
   # K.C. Nair
     # Jose Paul
  # J. John
  Himalaya publishing house

3. An introduction to marketing
   Fifth edition
   # D. Amarchand
   # B. Varadharajan   

4. Marketing management
     # Dr. C.B. Gupta
    #  Dr. N. Rajan Nair
    Sultan chard & sons

5. Principles and practice of marketing in India
 #  Dr. C.B. Mamoria
 #   R.L. Joshi
 #   Dr. N.I. Mulla      
   Kitab mahal

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