Business advertising, types, and medium

THE TRUISM ABOUT BUSINESS AND PRODUCTS

It usually begins as a dream. A man would conceive a dream to start a business of any kind, spurred by anything; desire to make profit, render services to the people or to Carter to the welfare of those in a certain circle.

 Establishing any kind of business that He wants, behoves certain economic steps that would lead to it. He would channel into the achievement of his dream such efforts that may include; planning of the business he wants to start, sourcing capital, procurement of land for business office or company, and raw material, and registration of business. The efforts that he would take, which is not precisely those alone, or restricted to them, would give birth to a new business.

Whenever the business is established as observation shows, it is likely to encounter a problem. It is a new business or brand; the public may be ignorant of it. It is new, they've not come across it, or heard about it. It has not always been existing, they have not learnt about it. People cannot want to patronize what they never knew exists. 

For instance there is a period in our history in which computer wasn't yet invented. During that period, no one ever made effort to buy it. How could they even, when products are given a name and thus computers hasn't yet been invented and named computers. If they go to the market what name would they call computers,- something they want to buy?

Usually only after people become aware of the existence of a product could they add it to their menu, of things to purchase.

The  target of the business man is patronage. He wants his business to be patronized. Or to patronize the items that he has produced. But the ignorance people have over it makes it impossible for them to.

They could only patronize it if they know it exists, if they know such item or business is available. This makes letting them know about it a necessity as capital and management are. When you let them know, they would become aware it exists and can then opt for it.

This is the very truism about new business and products. The public remains ignorant of them, until the owners introduces it to them. 

There has to be a way to solve this problem, to pave way for patronage. Wishing and hoping that people become aware of it cannot solve the problem. Nothing is ever actualizes by wishing alone without taking steps. Ignoring it, is worst as it never become solved until steps are taken. Traditionally producers tackle this challenge by  creating awareness of the existence of their product to the public.

                      DEFINITION 

The creation of that awareness is what advertising means. It is the means of bringing the existence of goods and services to the knowledge of the public. It encompasses all the methods of dispensing knowledge on the existence of a new business or product.

When you create consciousness about the existence of a new business or product, people would become anxious about its features and characteristics. They do not know if it is one they demand or not. If it would appeal to them. They need to know, if they must buy an item. That is why advertising usually features indication of the benefits, and packages of the advertised  item. In a nutshell, adequate information on the item advertised. Advertising does not stop at letting people know that a product is available, no, advertisers go on to provide information about it.

But sometimes not only the packages of an item entices people to buy an item, but the way they are told to buy it. People have often been moved by the way an owner of a brand speaks to them over buying it to do so. Knowing this, advertisers go extra mile to urge, and convince people to patronize them, which often makes a difference. Yes, advertising usually features persuasion. It is like smooth talking others to buy a product, just as one would someone he wants to date him or her.

As we have seen from tradition of men, what is considered  advertising consists of creating awareness of the existence of a brand, dispensing information about it, and persuading people to patronize it. 

       THE BASIC CONCEPTS IN ADVERTISING 

1. THEME: An advertiser could say many things about a product; tell it's name, the year it was manufactured, the manufacturers, the year it would expire, etc. He would surely have a major message pertaining the brand he is advertising. That major message the advertiser wishes to convey, is the theme of the advertising. 

2. TARGET: Certain products are meant for certain people. Thus an advertiser would target particularly those whom the product would appeal to. It is they, he would urge to buy the products. It is they, he considers more deserving of hearing his advert. If you produce items meant for lawyers, you would particularly aim at telling them, not teachers.

3. ADVERTISING MEDIUM: There are many mediums through which adverts could be accomplished. Thus, this concept is concerned with the method through which it could be conveyed.

4. FREQUENCY: It is the number of times the advert is done.

5. REACH: It is the size of the audience that has received the advert. In other words how many, the beneficiaries of the advert are.

            

            BENEFITS OF ADVERTISING 

1.IT CREATES CONSCIOUSNESS: Prior to advertising, a bulk of the public remains ignorant about a product, service or business. When advertising is accomplished, they become knowledgeable about it.

2.IT MOTIVATES PATRONAGE: The manner at which the customers are persuaded to buy a product or service often stimulates them to want to.

3. CREATION OF DEMAND: It stimulates demand, by constantly reminding the potential customers about the availability of the product.

4. IT EDUCATES ON THE PRODUCT: Because advertising features detailed information on the products, the public becomes aware of it. They come to know it's benefits. They become aware of what they stand to gain by opting for it. They come to know the day it was manufactured, etc.

5. IT PROMOTES THE IMAGE OF THE FIRM: You cannot advertise without indicating the producer of the item. By attributing the creation of an item of a high quality to a firm, you promote the image of the firm, as they would gain recognition.

6.IT INCREASES TURNOVER:  When people become aware of a product and are convinced to buy it, the result would be turnover. And the result of much patronage would be increase in profit and increase in production.

7: DEVELOPMENT OF LARGE MARKETS: Advertising creates large market segments which leads to the development of larger markets.

8: PROVIDES TECHNICAL INFORMATION ABOUT A PRODUCT: Advertising usually features such information as the quality of a product, price change, and special offers available

9: IMPROVES PRODUCTS QUALITY: The truth is that most times the quality and benefits of a product are exaggerated when they are advertised. Weather or not this is morally good is a different subject. But doing that helps the product to be attached with quality or pedigree.

10: CREATES BRAND LOYALTY: The demand of the customers can easily be maintained through stimulation of their interest on a certain brand.

     DISADVANTAGES OF ADVERTISING 

1. IT IS EXPENSIVE TO ACCOMPLISH: Advertising is not something that is accomplished for free. It comes with a cost or prize. Like starting a business which requires capital, it is expensive to accomplish. Those involved in advertising, such as the press and media, charge for it. And the amount they usually demand is expensive. It is because the more expensive advertising is, the more money they would make. It is just like in products. The more money a producer attached to an item, the more profit he would make, because when he finishes deducting the money he used in production, from the amount he sold it, the more money would be left of it. Advertisers charge money for each advert. That simply means that the number of times you want them to advertise a product is the number of times you would pay them. Just think, if they would advertise your product three times, you would pay them for each of those times the amount they charge. If it is $10, it means $10 times 10, which is $30. And you would want you adverts to be done many times. Not all people may receive the message when it was done at a particular time. So you would want more to hear it at another time. Receiving the advert more and more times may help stimulate patronage. If you beg someone for something again and again, he is more likely to be persuaded to yield to your request. Just think about how much you would pay a standard media to advertise your product. Do you think it would be cheap? 

2. WASTEFUL:  Most times producers accomplish their objective with advertising when they do. When they advertise, they receive patronage. But their are times when advertising does not stir people to make patronage. The advertised product may be expensive to purchase. The product may not appeal to them; it doesn't have the features that they want. When it does not motivate patronage, the money used in accomplishing it is this wasted, because it didn't accomplish what it was meant for.

If a firm contracts the media, precisely the BBC to advertise their product, say mobile phone, at the cost of, $10, 000, and they obliges, by performing an advertisment for the firm, but after it is accomplished, the target does not patronize them, the money paid for advertising would  be waste because it didn't achieve what it was aimed at.

3. FALSE INFORMATION: No one lies more than the advertisers. They may never lie; about the name of the products they are advertising, the date it would expire, and the manufacturers. But they could lie about the benefits of the item. Most times they, exaggerate the benefits of an item so that you would find it to be something you cannot do without, and the result is that you cannot wait to buy it to reap it's benefits. But just when you buy it, you would then realize that the product is not as efficacious as they claim. In the case where it proves helpful, it may not be as helpful as they claim. This has been the case sometimes. Certain people have found that the products they purchased never even contain the benefits they said it has. When it has flaws, the advertisers  never reveal. They infact cover the flaws by packaging the product in a way that obscures the flaw. Have you ever bought an item that you realized never contains the benefit they claim it has?

 Advertising is like personality management. People make theirselves seem friendly and relatable to, by obscuring theirselves and putting themselves in good light. They never tell you bas things about theirselves. They make theirselves seem to be saints. They paint theirselves white.

As it is with humans so is it with products

 It is not to justify it, but if a product is presented in bad light, you would not want to buy it. Thus it is to be expected that advertisers would manage the flaws of a product by obscuring it. As experience shows advertisers usually put products in good light. They give you the wrong picture of an item, because until you purchase it, they are mirrors through which you learn the intricacies of a product. 

4. ADVERTISING MAKES PEOPLE BUY UNNECESSARILY. Many have often fone for an item simply because of the way it was advertised. Many have often bought items in surplus- more than necessary because they are continually persuaded to keep on buying.

6. AFFECTS REPUTATION OF OTHER BRANDS. Producers are like power seekers. When you fall your strongest rival you win. Sometimes producers discredit the products of other companies. They would tell you their own is better than theirs. And place the benefit of their own to be superior to theirs. This is what really adverts involve most times. As their are usually many producers of a certain product. So, the key to making your product be the most patronized seem to be the 'Devilish-key' of elevating it above other brands. Some could believe whatever they are told, thus the reputation of the business they discredited would be affected. People would never want to opt for it. 

                   TYPES OF ADVERTISING 

         1. INFORMATIVE ADVERTISING 

This type has as it's goal; the dispensation of information on available products and services. It like giving people a  mirror into the store of a company, provision of information on the benefits and uses of it. When this is done, customers could choose between alternatives on offer. They could now choose which of the advertised product has the package, and attached offer by the company that appeals to them.

         2. PERSUASIVE ADVERTISING 

This type aims at encouraging customers to buy a product. It is a key to arousing the desire of people to patronize a business product. Naturally persuasive advertising provides the distinguishing features of the product from others, and points to it as a reason to patronize it

       3. COMPETITIVE ADVERTISING 

This is the type in which producers provides reasons to favour their own products over that of other companies that produces that kind of item. In other words the type used to encourage patronage of the companies brand and discourage patronage of that kind, from other companies. It can only be done when people can substitute or choose the companies brand over another's.

              4. MASS ADVERTISING 

This is the type of advertising in which companies of a similar product, become a team and advertise their products.

            

          MEDIUMS OF ADVERTISING 

Anything that you can do, to create knowledge on the existence of your product or business, provide information about it and persuade or convince them to buy it, can be considered a medium through which you can do it.

There are traditional ways people advertise. It is peculiar with them and has been used since time immemorial to accomplish advertising.

            1. MEDIA ADVERTISING 

The media advertising is the achievement of advertising through whatever consists of media. Such as;

a. Radio

b. Television 

c. Cinema

d. Catalogues

E. Billboards and etc.

                2. THE PRESS

It involves advertising through the press mediums such as;

a. Newspapers 

b. Magazines

c. Journals

d. Books

     

       3. VERBAL OR ORAL ADVERTISING 

This is a method of telling people directly- about a brand through oral or verbal conversations.