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Element of Marketing Mix
Advertising is an important component of the promotion mix. Promotion mix in turn is a component of marketing mix. Price, product, promotion and physical distribution are the four main elements in a marketing mix. Unless the promotion mix is effective, the other elements of marketing, viz., price, product and physical distribution cannot achieve their respective objectives.
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Advertising: Nature, Scope & Types
1. Definition Of Advertising Advertising : Paid, non- personal communication through various media about a business firm, not-for- profit organization, product, or idea by an identified sponsor in a message that is intended to Inform, Persuade Or Influence audience. • A complex form of communication using objectives and strategies to impact consumer thoughts, feelings, and actions. • A form of marketing communication (all the techniques marketers use to reach their customers and deliver their messages).
2. Meaning Of Advertising • Derived from original latin word ‘advertere’ which means ‘to turn the attention’. • Advertising is a tool of mass communication. • It makes mass selling possible. • It is a macro concept: representing the entire advertising industry. • It promotes the goods through information and persuasion.
3. Objectives Of Advertising (SCOPE) • Informative advertising Promotion that seeks to develop initial demand for a good, service, organization, person, place, idea, or cause. • Persuasive advertising Promotion that attempts to increase demand for an existing good, service, organization, person, place, idea, or cause. • Reminder advertising Advertising that reinforces previous promotional activity by keeping the name of a good, service, organization, person, place, idea, or cause before the public. Advertisers coordinate advertising objectives with the product’s stage in the product life cycle.