Advertising and Promotion
1 Advertising in the 21st Century
The 21st century is the Digital Age, the age that marked the shift from legacy media to new media. Advertisers have thus focused more and more on digital media, social media, and clicks than on the power of print media or traditional commercials on TV. The reason for this shift is that more people now use their mobile devices for browsing the Internet, consuming information, shopping via e-commerce, or communicating with peers than ever before. More people have cut the cord of cable TV and now stream content via providers like Amazon Prime, Netflix, Hulu, Disney+, HBOMax and more. Fewer people read books and magazines than ever before. Advertisers have to go where the eyeballs are, and digital media platforms like Facebook and Google have ways to track eyeballs through online monitoring, which gives advertisers a way to understand what users are doing. Advertising in the 21st century has become more personalized, targeted, and digital as a result.
2 The Philosophy and Practice of IMC, Brand Equity and Ethics in Advertising
The philosophy and practice of integrated marketing communications (IMC) is to focus on the profile of the target marketits needs, opinions, values, interests, and media habits. It then proceeds with the development of communication synergy, with a message that is consistent across all media. The aim is to influence the target markets behavior and to build relationships with customers. Advertising within the IMC approach is effective when predicated on a solid understanding of the target market and the preferred media of the market is used to channel a single message to establish brand equity and loyalty.
Brand equity is the worth of the brandhow highly it is esteemed by consumers. For instance, customers might view highly a brand like Coca-Cola because of its consistency, heritage, and cultural valueuntil they hear that Coke is telling its employees...
For companies, brand equity is important because it describes the companys value among consumers in terms of its reputation. Whatever products it releases, the company knows its brand will be popular. It takes pride in doing nothing that will harm the brand, such as avoiding scandal, releasing inferior products, and so on.
Ethical issues associated with advertising, sales promotions, social media, and other practices are that advertising should never be false or misleading; promotions should never be used for a bait-and-switch practice, and social media should always be used honestly and never to try to dupe followers or offend large segments of the community by putting out statements that are meant as half-jokes the way Tesla CEO Elon Musk often does.
3 Importance of Market Segmentation
The importance of market segmentation for specific consumer groups is that it allows companies to put consumers into groups based on demographics, behaviors and other characteristics. This in turn enables the company to market its products to particular groups that have the same needs, values, interests and behavioral and purchasing habits in common.
The five important factors of persuasionmessage strength, peripheral cues, receiver involvement, receiver initial position, and communication modality that advertisers look for when creating promotionsare essential in accomplishing a successful ad campaign. Message strength pertains to the relevance, clarity, appeal and consistency of the message; peripheral cues, such as the credibility of the source or the facility of several arguments in one message, help to convince the consumer as well. Receiver involvement is the degree to which the consumer is ready to act or wants more information; it helps the advertiser know which tools to rely on most. Receiver initial position will indicate whether the consumer is likely to buy the argument or have counter-arguments. Communication modality refers to the how the message is conveyed, i.e., what channels, medium, manner and so on.
The process of the marketing communication objective setting an the requirements for good objectives also play a part in a successful campaign in terms of the long-term enhancement of the brand. The purpose of having good objectives is to be able to…
Companies that have invested in defending their brand and managing the customer experience outside of their website have seen great returns. Within the travel industry, for example, companies such as InterContinental Hotels Group and Royal Caribbean Cruises have both extended their reach to manage the customer experience on partner sites with a very high degree of success. In each instance, their efforts have resulted in an improvement in the
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