Advertisement has immense importance in business and it is one of the important parts of marketing. It has grown to an extent that some people lack clarity about the differences between marketing and advertising. Although the advertisement is a part of marketing, both have entirely different objectives.
In this article, we discuss the key objectives of advertising:
Introduce A New Product
Advertisements are important to announce the launching of a new product into the market. New brands as well as existing brands depend on advertising to inform the customers about the new product they have just launched. If people have to buy a product, they have to know about it.
Introduce A New Brand
Many of the startups in today’s market are service oriented more than product-oriented. Service-oriented companies commonly market themselves as a brand rather than marketing some of its products. Consider the example of a rental car service or a food delivery service.
Advertising aims to get the attention of people and increase awareness among them about the products in the market and their features. Consider the example of banking ads. The ads that advertise the benefits of mutual funds or other investment and savings schemes all intend to create awareness among people.
Expanding the customer base is one of the major objectives of any advertising campaign. The advertisement makers work to make the ads so powerful to make the audience switch brands by leaving the brand they were previously associated with and choose your brand.
When a brand regularly advertises its products, deliver high quality products and give the customers exactly what they promised in their advertisements, brand value is automatically enhanced. However, brand building has various aspects. Advertising via ATL and BTL campaigns is one of the aspects of brand building.
One of the obvious objectives of advertising is increasing sales. Advertising plays a significant role in improving sales but a poor ad campaign that fails to target the audience appropriately can fail to achieve this objective.
Seasonal products notice a major boost in sales due to advertising. Consider the example of ice cream brands that invest a lot of money into advertising during summer months because they know that is the time when they’ll get the best sale of the year.
Advertising plays a significant role in the success of businesses. If you want all the hard work to pay off and get impressive returns to your investment in the business, you have to give advertising the importance it deserves.