Advertising and Sales Essay Example for Free

Advertising and gross revenue EssayAssignmentQ1. What is the meaning of ad? Explain the ad pyramid with a neat diagram. Advertising is the non-personal communication of information usually paid for and usually glib in nature about produces, services or ideas by identified sponsors through the various media to clutches broad audiences The five elemental element of this pyramid argon attention, affaire, appetite, action and satisfaction. Attention The first objective of advertising is to capture attention of the consumer. The job is easy as even shouting or clapping put up draw attention. Therefore, the copywriter usually makes the headline very catchy by using the bigger fonts. The opposite techniques atomic number 18 to use short punch lines in conversational language. Interest The nationalizings neighboring objective is to create interest in the readers about the w be. After giving a good headline, their interest is retained by elaborating on the key feature s of the growth.This is usually incorporated in the body copy. Desire In this step, the ad creates a feature for the prospective customer to enjoy benefits 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 wizard does non use the product. Action The purpose of this step is to inspire people to do something. No advert is successful if it cannot induce any action. This is not a difficult step because if the copy is clear then surely the reader will act. Satisfaction The tip of the pyramid is satisfaction. After the product is bought, the buyer should cede a feel of satisfaction. The customer should al centering of lifes feel that it has got the appropriate returns for the m 1y spent. Q2. What do you understand by integrated marketing communication (IMC)? What are the various roles? IMC is a strategic business process utilize to develop, execute, and evaluate coordinated, measureable, persua sive brand communications political platforms over time with customers, prospects, employees, associates, and other rateed relevant internal and impertinent audiences. The goal is to generate both short-term financial returns and build long-term brand and share-holder value. Integrated plowing Communications (IMC) is a process involving coordination of various packagingal elements and othermarketing activities that communicate with a unattackables customers. It includes managing customer relationships that drive brand value through communication efforts. The role of IMC can be discussed with the following forecasts Identifying the tar construct audience Specifying forward motion objectives Setting the promotion budget Selecting the skillful promotional tools plan the promotion Scheduling the promotionIdentifying the target audience IMCs first function is to identify the sort out audience. It is very important to deliver the message to the right audience. Specifying promo tion objectives Designed for a well-defined target audience Measurable Cover a specified time periodHierarchy of effects installment of stages a prospective buyer goes through Use as a tool to develop objectives sensation 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 anticipated sales Competitive parity Matching the competitors absolute level of spending Selecting the right promotional tools Specify the combination of the five basic IMC tools advertising, Personal selling, sales promotion, public relations and direct marketing Promotion mix can set out Assess the comparative importance of the various toolsDesigning the promotion Design of the promotion plays a primordial role in determining the message that is communicated to the audience Design activity is viewed as the step requiring the intimately 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 physical body an advertisement. In developing an advertisement for an advertising campaign, several theoretical frameworks are useful. The first theory is the pecking order 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 use to develop leverage points. 1. Hierarchy-of-Effects ModelAmong advertising theories, the hierarchy-of-effects model is predominant. It helps clarify the objec tives of an advertising campaign as well as the objective of a grouchy advertisement. The model suggests that a consumer or a business buyer moves through a series of six-spot 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 unwrap 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 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 based on real pro blems, communication campaigns simply 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. credendum 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. bribe 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 conjectureA 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 Compone nts for Advertising scheme (MECCAS). The MECCAS model suggests using five elements in creating advertisements. The products attributes red-hot and delightful are the products attribute. Consumer benefits delicious and refreshing are linked with the benefit of freshness and good taste. Leverage point the leverage point in the advertisement is the link between 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 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 film 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 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 gild pays for advertising the company. Hence the focus is on getting its products orservices.2. Since you are give for the space, you have creative control on what goes into that advertisement. 3. Advertisements can be anaesthetizeed or run repeatedly. An advertisement generally has a longer shelf life than one press release. 4. In advertising, you get to cipher 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 take ins Product in a business magazine. 7. Some industry professionals such as paper 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 cry today These are the things you can say in an advertisement. You want to use those buzz words to motivate people to buy your product. Public relations1. The objective is to get free publicity for space. You know on the dot when that advertisement will on air to be published. 2. You have no control over how the media presents your information, if they take root 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 re ceive is only circulated once and the editor in chief will not publish more than once. 4. In public relations, you have to have a thread 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 contingent to segment, target or position 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 consultation to journalists. You may represent your company as a spokesperson at an event. 8. You are strictly composing in a no-nonsense news format. Any 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 rating of a sales o rganization? There are mainly four factors or types of digest that are usually needed todevelop a comprehensive model for evaluation of a sales organization. They are 1) Sales depth psychology2) Cost analysis3) Profitability 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 describe as a detailed inspection of a companys sales data, which includes assimilating, classifying, comparing and skeleton 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 organisational levels definitely increases the sales managers ability to detect prob lem areas in the companys sales performance. For example, analysis can be done a. Based on type of productsb. By dissemination 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 mediate or shared expenses to various marketing units. There are two approaches for profitability analysis 4) Productivity analysis Productivity is usually mea sured 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 composition and posters to announce a new product as the iPod managers did, followed by television 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 lark about star, Elle). Media cooking 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 sol d. Readership is the average number of readers per copy sold.