Advertising and Sales Essay Example for Free

Advertising and gross sales EssayAssignmentQ1. What is the meaning of advert? Explain the publicize pyramid with a neat diagram. Advertising is the non- face-to-face communication of information ordinarily paid for and usually persuasive in nature about harvest-homes, services or ideas by identified sponsors through the various media to reach broad audiences The five prefatory element of this pyramid atomic number 18 attention, interest, desire, action and satisfaction. Attention The first aim of publicizing is to capture attention of the consumer. The job is easy as even shouting or clapping can draw attention. Therefore, the doublewriter usually makes the headline genuinely catchy by using the bigger fonts. The other techniques are to use short punch lines in conversational language. Interest The adverts neighboring target area is to create interest in the readers about the ingathering. After giving a good headline, their interest is retained by elaborating on t he key features of the product.This is usually incorporated in the body copy. Desire In this gradation, the advertisement creates a location for the prospective customer to enjoy benefits of the product vicariously. The writer creates a situation that makes the reader tonus as though there is a lot that is being missed if one does not use the product. Action The purpose of this step is to motivate people to do something. No advertisement is successful if it cannot induce any action. This is not a difficult step because if the copy is clear past surely the reader will act. Satisfaction The tip of the pyramid is satisfaction. After the product is bought, the buyer should prolong a feel of satisfaction. The customer should always feel that it has got the appropriate returns for the money spent. Q2. What do you understand by integrated marketing communication (IMC)? What are the various roles? IMC is a strategic stage business process utilize to develop, execute, and evaluate coo rdinated, measureable, persuasive brand communications computer programmes over time with customers, prospects, employees, associates, and other targeted relevant internal and external audiences. The goal is to generate both short-term financial returns and construct long-term brand and share-holder value. Integrated Marketing Communications (IMC) is a process involving coordination of various promotional elements and othermarketing activities that communicate with a households customers. It includes managing customer relationships that drive brand value through communication efforts. The role of IMC can be discussed with the following points Identifying the target audience Specifying promotion objectives position the promotion budget Selecting the mature promotional tools shrewd the promotion Scheduling the promotionIdentifying the target audience IMCs first function is to identify the proper audience. It is very important to deliver the message to the right audience. Speci fying promotion objectives Designed for a well-defined target audience Measurable Cover a contract time periodHierarchy of effectsSequence of stages a prospective buyer goes through Use as a tool to develop objectives sense Ability to recognize and remember the product or brand Interest Increase in desire to learn about the product features Evaluation Consumers appraisal of the product on important attributes Trial Consumers actual first purchase and use Adoption Repeated purchase and use of the product or brand Setting the promotion budget Percentage of sales Funds are allocated as a percentage of past or anticipate sales Competitive parity Matching the competitors absolute level of sp remaindering Selecting the right promotional tools Specify the combination of the five basic IMC tools advertising, Personal lead astraying, sales promotion, public relations and direct marketing progress mix can vary Assess the comparative importance of the various toolsDesigning th e 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 virtually creativity Design each promotional activity to communicate the same message Scheduling the promotion Determine the most effective timing Promotion schedule describes Factors such as seasonality and competitive promotion activity can influence the schedule. Q3. While developing an advertisement, some theories are useful. Discuss the two theories to intent 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 second is a means to an end chain. Both the hierarchy of effects model and a means to an end chain can be used to develop leverage points. 1. Hierarchy-of-Effects ModelAmong advertising theories, the hierarchy-of-effects model is predominant. It helps clarify the objectives of an advertising campaign as well as the objective of a particular advertisement. The model suggests that a consumer or a business buyer moves through a series of six steps when becoming convinced to make a purchase. These six steps are as follows awareness If most of the target audience is unaware of the object, the communicators task is to build awareness, perhaps just name and recognition with simple messages repeating the product name. Consumers essential become aware of the brand. Knowledge The target audience might have product awareness but may not know much more than hence 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 specific 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 the communicator has to find out why. If the unfavorable view is base on real problems, communication campaigns alone(predicate) cannot do the job of erasing it. Preference The target audience might like 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. Conviction A target audience mightprefer a particular product but not develop the confidence about buying 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. Means-End systemA second theoretical approach a creative (team) can use to design 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 Compon ents for Advertising dodging (MECCAS). The MECCAS model suggests using five elements in creating advertisements. The products attributes delicious and refreshing are the products attribute. Consumer benefits delicious and refreshing are linked with the benefit of fallal and good taste. Leverage point the leverage point in the advertisement is the link betwixt the benefit of delicious drink and the mortalal value of choosing the right drink of an athlete. Personal Values the value of the consumer, the reason 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 or the general public. Public Relations (PR) is the actions of a corporation, store, government, individual e tc. in promoting goodwill between itself and the public, the community, employees, customers etc. The most encyclopaedic 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 company pays for advertising the company. Hence the charge is on getting its products orservices.2. Since you are paying for the space, you have creative control on what goes into that advertisement. 3. Advertisements can be published or run repeatedly. An advertisement generally has a longer shelf life than one press write. 4. In advertising, you get to exercise your creativity in creating new advertising campaigns and materials.5. If you are working at an advertising agency, your main contac ts are yours-workers and the agencys clients. 6. You are looking out your target audience and advertise accordingly. You would not advertise a put one overs Product in a business magazine. 7. Some industry professionals such as Account Executive have contact with the clients. Others like Copywriters or Graphic Designers in the agency may not meet with the client at all. 8. Sales, 20% discount, Buy this product Act now war cry today These are the things you can say in an advertisement. You want to use those boil words to motivate people 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 limit to use your information at all. They are not obligated to cover your event or publish your press release. 3. You submit a press release about a new product or about a news conference once. The PR exposure you receive is only circulated once and the editor in chief will not publish more than once. 4. In public relations, you have to have a nose 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 area of publications and broadcast media. 6. It is generally not possible to segment, target or position the product or service. 7. In public relations, you are very microscopical 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 oppugn to journalists. You may represent your company as a spokesperson at an event. 8. You are strictly writing in a no-nonsense news format. whatever blatant commercial messages in your communications are disregarded by the media. Q5. What are the four types of annalists used to develop a comprehensive model for military rank of a sales o rganization? There are mainly four factors or types of psycho outline that are usually needed todevelop a comprehensive model for evaluation of a sales organization. They are 1) Sales analysis2) Cost analysis3) positiveness 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 done based on the following parameters a) Levels in sales organization Sales analysis should be done 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 different types of sales at different organizational levels definitely increases the sales managers ability to detect proble m 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 favourableness 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 marketing units. There are two approaches for profitability analysis 4) Productivity analysis Productivity is usually measur ed by ratios between outputs and inputs. For example, sales per salesperson are used by many companies as a measure of productivity.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 newspaper and posters to announce a new product as the iPod managers did, followed by video 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 planning is the way advertisers identify and select 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 times 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 variety 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.