Advertising is a means of communication with the users of a product or service and it is the business or act of making something known to the public, usually through some type of paid media. Why advertising is important for business and consumers? The sole purpose of a business is to sell products and services to earn profits. Advertising helps a business to earn profits by enabling more people to know about the products and services and thus resulting in more sales. Advertisement also help to persuade by promoting products, services and ideas and to help achieve commercial/business goals. Businesses create awareness about their brand and to make their new products known. It increases the opportunity to expose your product and brand which will change the way you do business.
What are the different types of advertising?
- Print Advertising: Newspaper, magazines, & brochure advertisements, etc.
- Broadcast Advertising: Television and radio advertisements.
- Outdoor Advertising: Hoardings, banners, flags, wraps, etc.
- Digital Advertising: Advertisements displayed over the internet and digital devices
Goals and Importance of Advertising
Advertising aims to create brand loyalty. Brand loyalty results in frequent transactions and positive recommendations from current customers to others. Sales promotion, effective personal sales, timely and efficient direct marketing and other strategies help to create brand loyalty.
The basic objective of advertising is to monitor and push customer behavior towards a goods or services. Dropping sales figures, decreased consumer interest for new goods and customer unwillingness to commit have the potential to hurt your end result. Changing customer behavior by ads is one way to resolve these issues. Well written, strategically positioned ads has the ability to transform customer behavior if you advertise regularly and deliver whatever your advertisement offers.
Advertising increases sales
The advertising sparks the interest of branded goods and services in the markets. Interest generates demand on the market. Increased demand would soon boost revenue. Finally, the advertiser fulfills its key objective by investing in advertisements. However, in order to continue such a rise in revenue, the advertiser or trader must maintain a good affordability along with frequent advertising campaigns.
If the promotion of any product, service or concept involved is performed correctly at the right location, through proper media and within a specific time period, many new consumers may be attracted. It helps to win the demand and to increase the profits of the advertiser.