In the business world, advertisement holds an essential and vital place because in any economy, just manufacture of the product isn`t enough, it is the sale of the product that sustains and suffices the manufacturers. For initiating and boosting the sale of the product, advertising is the most important part of business. in the business world, customer is treated as a GOD. To lure the buyers, each and every tactic is adopted by the sellers. Ranging from sales campaigns, advertisements in TV and magazines, publicity on social media to door to door campaigns advertisement has no boundaries.
How advertising can help the business?
Advertisement helps the business in every way. the whole manufacturing of the product goes in vain if proper and efficient advertisement isn`t planned for the product. The makers ensure that in order for the product to mark a niche in the market, the best marketing techniques have to be adopted. Here is a brief on how advertisement helps business:
- Increases the sale of the product by informing the potential customer about the product and service.
- Renders customer essential information, changes in the service, new products and new improvements.
- Boosts the short term sale of the product by telling the customer about the particular benefit relating to the product.
- Reminds the existing buyers about the business and the new products
- Advertising in a way helps establish a particular brand of the business setting it apart from the competitors
- Brings in knowledge of the customers the potential benefits of the products.
- Boosts the sales and produce surplus profits for the business
- Develops and sustains a particular position and market for the customer
Advertising of the product holds relevant position in the market and it gives all the associated and important details of the product to the customer. It isn`t only limited to the advertising of the product itself. Through advertising a company can also recruit new people into the company and source the contractors and other suppliers.
Targeting the customers
In lieu of finding the benefits of advertising and examining how advertisement helps business and the company, the potential customers need to be targeted. The firm has to decide whether the customer which is on the radar are the national, international, regional, local or a mixture of all. In case of a local business, a company can benefit in the long run by national advertising if it isn`t looking to expand to new territories. Targeting the customers and setting up the strategy of the advertisement according to it renders long term gains to the company
While advertisement through the media, the company should find through the media businesses and other sources about the audience figures and the general audience penetration in the company is. The company needs to know the figures relating to how many customers, where, and who to. These figures can be defragmented into the age groups, the average incomes of the company and other useful indicators.
A company shouldn’t have temptations of buying a section of media so as to bring in rope the potential customers, because such advertising techniques do not succeed in the long run. Decency, honesty, legality and truthfulness are the four pillars of successful advertising which ought to be observed by every company.