Thursday, March 7, 2019
Advertising and Sales Essay
duty assignmentQ1. What is the meaning of publicizing? Explain the advertising pyramid with a squ ar(a) diagram. Advertising is the non- ain conversation of information unremarkably paid for and usually cogent in nature ab surface fruits, services or ideas by identify sponsors through with(predicate) the various media to reach broad auditory modalitys The five basic piece of this pyramid ar attention, interest, desire, doing and satisfaction. Attention The first objective of advertising is to capture attention of the consumer. The job is easy as even shouting or clapping can draw attention. therefore, the copywriter usually makes the headline precise catchy by using the bigger fonts. The un practice sessiond(prenominal) techniques be to procedure short punch lines in conversational language. Interest The advertisings next objective is to create interest in the indorsers about the increase. afterwards giving a good headline, their interest is retained by elabor ating on the key features of the product.This is usually incorpo grazed in the body copy. Desire In this step, the boostment creates a situation for the prospective customer to enjoy social welf ars of the product vicariously. The writer creates a situation that makes the reader feel as though there is a lot that is being missed if angiotensin converting enzyme does non practice the product. Action The purpose of this step is to motivate lot to do some(prenominal)thing. No advertisement is successful if it can non induce any action. This is non a difficult step because if the copy is clear then surely the reader leave act. Satisfaction The tip of the pyramid is satisfaction. After the product is bought, the buyer should have a feel of satisfaction. The customer should always feel that it has got the tolerate returns for the money spent. Q2. What do you understand by integrated trade conference (IMC)? What are the various roles? IMC is a strategic business process emplo y to develop, execute, and evaluate coordinated, measureable, persuasive brand communications programs over time with customers, prospects, employees, associates, and other betokened relevant internal and external earshots. The goal is to generate both short- force financial returns and build long-term brand and share-holder look upon. Integrated Marketing communications (IMC) is a process involving coordination of various furtheranceal elements and othermarketing activities that return with a firms customers. It includes managing customer transactionhips that drive brand value through communication efforts. The role of IMC can be discussed with the following points Identifying the bulls eye auditory sense limiting promotion objectives Setting the promotion budget Selecting the right promotional tools targeting the promotion computer programming the promotionIdentifying the target earreach IMCs first persona is to identify the right audience. It is very important to c ause the meaning to the right audience. Specifying promotion objectives Designed for a well-defined target audience Measurable Cover a specified time rate of flowHierarchy of effectsSequence of stages a prospective buyer goes through Use as a tool to develop objectives Awareness readiness to recognize and remember the product or brand Interest extend in desire to learn about the product features Evaluation Consumers appraisal of the product on important attributes Trial Consumers unfeigned first purchase and use Adoption Repeated purchase and use of the product or brand Setting the promotion budget luck of gross revenue Funds are allocated as a percentage of sometime(prenominal) or anticipated sales Competitive parity Matching the contenders absolute level of spending Selecting the right promotional tools Specify the combination of the five basic IMC tools advertising, Personal selling, sales promotion, public dealings and direct marketing Promotion mix can va ry tax the comparative enormousness of the various toolsDesigning the promotion Design of the promotion plays a primary role in determining the message that is communicated to the audience Design activity is viewed as the step requiring the to the highest degree creativity Design each promotional activity to communicate the same message Scheduling the promotion Determine the most effective timing Promotion roll describes Factors such as seasonality and competitive promotion activity can exploit the schedule. Q3. While developing an advertisement, some theories are useful. Discuss the two theories to convention an advertisement. In developing an advertisement for an advertising campaign, several theoretical frameworks are useful. The first theory is the hierarchy of effects model. The secant is a path to an end chain. Both the hierarchy of effects model and a promoter to an end chain can be utilize to develop supplement points. 1. Hierarchy-of-Effects ModelAmong advertis ing theories, the hierarchy-of-effects model is predominant. It helps clarify the objectives of an advertising campaign as well as the objective of a point advertisement. The model suggests that a consumer or a business buyer moves through a series of sextette steps when becoming induced to make a purchase. These six steps are as follows Awareness If most of the target audience is un alert of the object, the communicators task is to build cognizance, perhaps just clear and recognition with simple messages repeating the product name. Consumers must become aware of the brand. Knowledge The target audience might have product awareness but may not know much more thence this stage involves creating brand knowledge.This is where comprehension of the brand name and what it stands for become important. What are the brands item appeals, its benefits? Liking If target members know the product, how do they feel about it? If the audience looks unfavorably towards the product then t he communicator has to uncovering out why. If the unfavorable view is based on real problems, communication campaigns alone cannot do the job of erasing it. Preference The target audience might corresponding the product but not prefer it to others. In this case, the communicator must try to build consumer preference by promoting quality, value, performance and other features. strong belief A target audience mightprefer a particular product but not develop the confidence about buy it. The communicators job is to build conviction among the target audience. Purchase Finally, some members of the target audience might have conviction but not quite get around to making the purchase. They may wait for more information or plan to act later. 2. elbow room-End TheoryA second theoretical approach a notional (team) can use to mark an advertisement is a means-end-chain. This approach suggests that an advertisement should contain a message or means that lead the consumer to a desired end state. Means end theory is the basis of a model called the Means-End Conceptualizations of Components for Advertising outline (MECCAS). The MECCAS model suggests using five elements in creating advertisements. The products attributes voluptuous and refreshing are the products attribute. Consumer benefits toothsome and refreshing are linked with the benefit of freshness and good taste. Leverage point the leverage point in the advertisement is the link mingled with the benefit of delicious drink and the personal value of choosing the right drink of an athlete. Personal Values the value of the consumer, the think of buying Coca Cola. He could value the refreshing or the delicious attributes. The marketers need to understand the personal value so that the message will hit the right target. Q4. What do you mean by public relations(PR)? What are the difference between PR and advertising? Public relations is used to build rapport with employees, customers, investors, voters o r the general public. Public Relations (PR) is the actions of a corporation, store, government, individual etc. in promoting goodwill between itself and the public, the community, employees, customers etc. The most comprehensive definition is as followsPublic relation is the management function which evaluates public attitudes, identifies the policies and procedures of an organization with the public interest and executes a program of action and communication to earn public understanding and acceptance. The following are the differences between advertising and public relations. Advertising 1. The participation pays for advertising the company. Hence the strain is on getting its products orservices.2. Since you are paying for the space, you have creative temper on what goes into that advertisement. 3. Advertisements can be introduceed or run repeatedly. An advertisement generally has a longer shelf life than one press termination. 4. In advertising, you get to work your creativ ity in creating new advertising campaigns and materials.5. If you are working at an advertising agency, your main contacts are yours-workers and the agencys clients. 6. You are looking out your target audience and advertise accordingly. You would not advertise a kids harvest-home in a business powder magazine. 7. Some industry professionals such as Account Executive have contact with the clients. Others like Copywriters or graphical Designers in the agency may not meet with the client at all. 8. gross sales, 20% discount, Buy this product Act now nominate today These are the things you can say in an advertisement. You want to use those buzz words to motivate mass to buy your product. Public relations1. The objective is to get free publicity for space. You know exactly when that advertisement will on air to be published. 2. You have no control over how the media presents your information, if they decide to use your information at all. They are not obligated to cover your event or publish your press release. 3. You claim a press release about a new product or about a news conference once. The PR flick you receive is only circulated once and the editor will not publish more than once. 4. In public relations, you have to have a wander for news and be able to generate buzz through that news. You exercise your creativity in the way you search for new news to release to the media. 5. In PR, the main contacts will be people in the demesne of publications and broadcast media. 6. It is generally not possible to segment, target or do the product or service. 7. In public relations, you are very visible to the media.PR professionals are not always called on for the good news. In an emergency you may have to give a statement or on-camera interview to journalists. You may represent your company as a vocalization at an event. 8. You are strictly writing in a direct news format. Any blatant commercial messages in your communications are disregarded by the media. Q 5. What are the four types of annalists used to develop a comprehensive model for military rating of a sales organization? There are mainly four figures or types of analysis that are usually needed todevelop a comprehensive model for evaluation of a sales organization. They are 1) Sales analysis2) cost analysis3) scratchability analysis4) Productivity analysis1) Sales analysis It is an important factor for evaluating the effectiveness of a sales organization. Sales analysis detects strengths and weaknesses of the organization. Sales analysis is described as a detailed inspection of a companys sales data, which includes assimilating, classifying, comparing and drawing conclusions. Sales analysis is make based on the following parameters a) Levels in sales organization Sales analysis should be through with(p) at all levels of the sales organizations. This includes evaluation of sales performance from the company level down to the last level. b) Types of sales The analysis of di fferent types of sales at different organizational levels in spades increases the sales managers ability to detect problem areas in the companys sales performance. For example, analysis can be done a. Based on type of productsb. By distribution channels typesc. By type of customer classificationsd. By size of orders2) Cost analysis Cost analysis is the analysis of costs that affect sales volume. The purpose of marketing cost analysis is to determine the favorableness of sales control units, like market segments, sales territories and products. This is done by subtracting the marketing costs from the sales revenues, associated with the sales control units. 3) Profitability analysis Profitability analysis of marketing units (that is, regions, branches, channels, products or customer groups) can be developed by preparing profit and loss (or income and expense) statements for marketing units. However, the question arises as to how to allocate indirect or shared expenses to various mark eting units. There are two approaches for profitability analysis 4) Productivity analysis Productivity is usually measured by ratios between outputs and inputs. For example, sales per salesperson are used by umpteen companies as a measure of productiveness.Thereare other productivity ratios such as selling expenses per salesperson, sales calls per salesperson, and quotations submitted per salesperson. Q6. Describe the meaning and importance of media fix decisions. A media mix is the way various types of media are strategically combined in an advertising plan, such as using report and posters to announce a new product as the iPod managers did, followed by tv set advertising that shows how to use the product and billboards that reminded people to look for it when they go out to the store. A media vehicle is specific TV program (Comedy Circus, CID), newspapers (The Telegraph, Mumbai Mirror), magazines (The Sport star, Elle). Media supplying is the way advertisers identify and selec t media options based on research into the audience profiles of various media planning also includes scheduling and budgeting. Media buying is the task of identifying specific vehicles, such as TV channels/programs or websites, negotiating the cost to advertise in them and handling the details of billing and payment.Frequency refers to the number of time a person is exposed to the advertisement. An impression is one persons opportunity to be exposed one time to an advertisement in a broadcast program, newspapers, magazines or outdoor locations. Circulation means the number of copies sold. In the media industry, there are professionals who do both, sell and buy advertising. Media sales people work for a medium, such as a magazine or television channel and their objective is to build the best possible arguments to convince media planners to use the medium they represent. There are also media reps, who are people or companies that sell space (in print) and time (in broadcast) for a va riety of media. The rate base is the real number of copies of a newspaper or magazine that gets printed and sold. Readership is the average number of readers per copy sold.