COURSE TITLE: MA in Marketing
MODULE TITLE: Advertising & Promotion
STUDENT REF. NO (s). : Kavita Singh
STATEMENT OF AUTHORITY:
I have read the College Regulations relating to plagiarism and certify that the above piece of coursework is all my own work and do not contain any unacknowledged work from any other sources.
Signature: Kavita Singh
Submission Date: 11/09/2011
[Word Count: 2750] (Excluding appendices/bibliographies, tables and diagrams)
Advertising and Promotions of a customer brand contributes more to its success in creating added values compared to any other ...view middle of the document...
Also we’ll explore various tools of effective A&P, how technology has influences the promotional-mix, by comparing the old aged advertising strategies with present-day’s offerings. The report would propose the essential ingredients to formulate an effective advertising plan and will bring into limelight the best ways to catapult well-organized and proficient promotional strategies. We’ll look into the various types of A&P and co-relate our theoretical approach with practicality by reviewing some real-life examples that’d demonstrate the power and effectiveness of A&P in creating or destroying a brand. The report would then present a conclusion and based on the findings will propose some recommendations.
As discussed above, consumer lies in the very heart of a business. A brand is a communicator of economic information. It aids product identity by presenting the point of difference and conveying value. It protects buyers from uncertainties about a product’s quality. Brands though established by companies are not entirely owned by them. A brand is what consumers say it is. Brands are feelings of customers. It’s consumers who develop a brand, in terms of its image and its success or failure. Hence in consumer brand management creating values for customers is crucial. However the point of to be pondered here is that, though an organization can manage product effectiveness and try to provide additional benefits to consumers. It’s only the customers who can say how effective the product/service is in catering to their needs or better exceeding their expectations. Additional values have different meanings for different consumers and different consumer brands differ in their offering. Examples of some additional values are: Low-fat foods offer value aiding health, Volvo provides additional-value regarding safety, Gucci’s value offer is style. A brand can create value, customer satisfaction and loyalty in 3 broad steps: First, increase benefits offered to the consumer (Product benefit, services benefit, personal benefit and image benefit). Second, decrease overall cost of the consumer (Monetary cost, time cost, energy cost & psychological cost) and finally present the product/service with a point-of-difference. Communicating the value on-offer is as important as the value creation. The diagram mentioned-below will highlight the purpose to have a strong communication process in line.
The figure depicts, its crucial businesses send their message loud and clear to their target-audience through a choice of effective message/media options. The message is acknowledged by the audience which stirs up a response and in turn leads to obtainment of feedback. Between these stages, noise is created which is essential. There’re various modes of creating noise and communicating value. Let’s discuss them at length below.
Generally the means to communicate with the target-audience can be classified into 5 elements which are: 1....