Types of AdvertisingFitness Equipment
TYPES OF ADVERTISING
Advertising is an essential marketing function in modern business. Advertising is the cheapest selling tool which reaches out to the general mass in quick time. There are various types of advertising method used in marketing and these different types of advertising are discussed in details below:
Advertising may be classified into the following categories.
1. Product Advertising : This types of advertising focuses on a particular product or brand or service of an enterprise. Product advertising may be direct action advertising or indirect action advertising. Direct action advertising seeks a quick response. For example, a magazine advertisement containing a coupon may urge the reader to send it immediately for getting a free sample. Similarly, a super market may give an advertisement in a local newspaper announcing this week's arrivals. Indirect action advertising is designed to stimulate demand over a long period of time.
Product advertising may be further divided as follows:
(a) Informative Advertising : It is designated to develop the initial demand for a product or service. It is used heavily by the marketing team when a new product is introduced in the market. This type of advertising creates curiosity amongst potential buyers which results in sales of the product or service.
(b) Persuasive Advertising : It is used to persuade consumers to buy a particular brand. It is used when competition increases.
(c) Reminder Advertising : It is designed to reinforce or re-establish previous promotional efforts by keeping the name of the product before the public. This type of advertising is generally used to remind the public of the brand name which urges the consumer to buy the product over and over again.
2. Institutional Advertising : This type of advertising is used to build the goodwill or image of an organization in public. In order to create a favorable attitude towards the organization the positive features and contributions of the organization are stressed.
Though advertising is an essential tool for marketing a product but businessman should avoid wasteful and excessive advertising. Excessive advertising results in the increase of the cost price of the product or service which has to be borne by the final consumers. In such case consumers may shift its focus on its competitor because of the cheaper cost price.