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Basics Of Business Marketing And Advertising < Business Articles By Mast Business Directory

In the 21st century, the whole world is talking about business. Each and every thing we use is the outcome of business whether it is a book or soap. A large part of the economy is supported by the various types of businesses. Every businessman thinks of profit by every fair and legal mean. One may think that the company should increase its production but it is not the key. Company can produce tons of its products more but they would be useless, if they are not demanded by the customers. So, the main idea is to increase the use of the product. Indeed, it will increase the demand of that product and the customer will tend to buy more and the company will thus gain profit. In this respect, we have to deal with a new scheme of business that is marketing.

What Is Marketing?

Marketing is the term that refers to many things. What should be the price of product so that a customer would by it? What is the quality or grade of the product and which type of people will buy it? Considering these aspects, a company launches a new product and makes it available to the market. The whole distribution process and sales quantity is managed by the marketing. The whole chain of supply of the product is handled by the marketing. After the complete production of the goods, it needs to be supplied to the customer. It is conveyed from different people called the distributors to the end-user or the consumer of that product. This is the whole chain of supply.

Marketing is based on only four functions. Those are

1. Product
2. Price
3. Place
4. Promotion

These are called as the 4Pís of marketing. These all concepts emerge with the consumerĎs preference for a product. Whenever you go to the market to buy a certain product, you try to buy a very high quality product but when you ask the price, you hold back due to the limited budget. There comes the other aspect of the budget constraint. Now, think that you tend to purchase a product and in the local market, you see its substitute of the same quality and price. You will first think to go to the desired brand and buy it but, when you consider the transport or the conveyance cost you will not go there to buy it. This is the third aspect of marketing, called place.

Now, if you think of a model or a situation that you want to buy a product and go to the market and find the equally matched product that is, matched by price, product and place you will see some other reliefs like the discount given or the free product along it. If there are no such offers, then you will see the propagation and the products. These all are features of Promotion.

Advertising

For the promotion of any product, there come Advertisements. Advertisement is also known as the market communication because it communicates with the people directly through any source or media but that should not be personal. Latterly, it means to turn the peoplesí attraction to a specific thing.

Advertisement is a wise path for the marketing of the product. It the modern, this is the most useful tool to run the business. Advertisement makes people to demand your product more than anything else. When we talk about communication, it certainly needs a medium to transfer. There are namely six medium for advertising, they are:

1. Print
2. Electronic
3. Out-of-home
4. Direct mail
5. Digital interactive
6. Other media

These are the basics through which we can transfer the information about the product to the people. Print media is a very well-known medium that occupies all the hard copy transference of the information of the advertising product, like newspaper, magazines, leaflets or the hoarding-board. They interfere in the society to divert the attention of people. Every time you purchase a magazine or a newspaper or on the road, you can see many printed media advertisements.

Second is the Electronics. It is the most attractive medium for advertisement. TV, radio, computer or any other thing that can transfer the data electronically is included in this media. These electronics enable us to see what you want to see and tell you the extra-ordinary advantages of their products. Think that there is a new product in the market and it does not advertise itself to the people. Simply, no one will buy it because people donít know about that product. Therefore, these two types of Medias are must for a successful business.

Out-of-home advertising is that type of advertising which if referred to the situation of the individual when he is out-doored. The companyís logos and the billboards are included in this type of advertising media. When you visit a shop in your locality, you will see the billboard of many well-known companies with the name of the shop written under them. This is the simple type of the out-of-home advertisement.

Then, there comes the direct mail advertising media. In Direct mail individual gets an electronic mail from a company to buy its product. Times before the wide use of the internet, companies used to mail the people at their postal address but now, it is this is done through e-mail. When you subscribe yourself to any firm, it continuously sends you mails and let you know about their products.

Digital interactive attract people towards their products. It may be transferred through any media but it must be so attractive that one is compelled to buy it.

Choosing the medium of advertising is indeed a very tricky job to. Therefore, the advertisements are divided into three major terms for the ease of choosing the medium of advertising. Those are:

1. Informative
2. Persuasive
3. Reminder

Informative advertising provide the initial information about the product. It covers the all aspects of the marketing like price of the product, place where it is available and the usefulness of the product. It also makes a distinction of the product from its substitutes.

Persuasive advertising provide the information in a competitive manner so that clearly speaks about the distinctions of the product. It makes the product superior the other products. It is usually used by the companies of the market competition.

Reminder advertising is used by those companies which are the successor of the market. They do not need to increase the competition in the market but only need to remind the people that they are the successor and they just only remind about their product.

Product life cycle

Product life cycle is a well known scenario of business. When a product is introduced in the market and people are not familiar with it, it tends to gain some market share or increase the sales of the products. Then, the product sales increases and it starts to gain market shares. A stage where it has the maximum sales is the state of maturity. A stage also come when the product looses it value among the people and face a decline. Advertising has a great impact on this cycle because it boosts up the process. Advertising do not let the product life to decline and it continuously tend to maintain the state of maturity.

Advertising has a direct impact on the sales. Whenever a product is advertised, its demand in the market increases and people tend to buy it more and more. This increases the sales tremendously and sometime, the sales are even doubled. This gives more profit to the business and proves to have a good impact on the income. After expensing some amount of money on the advertising, the sales cover the cost and give a beneficial result. Therefore, advertising expenses are never just expenses, they are expenses with great profit behind them.

Certainly, marketing and advertising are two major aspect of the business. In the modern ages, these are the feature for the business. If a business does not have the support of the advertising, it is useless and worth for nothing. Nowadays, people are attracted because of the advertising and marketing skills. These two features are the blood and flesh for the business because they tend to increase the sales to earn more income. To run a successful and a profitable business, these are the major incentives.

Related directory categories

Marketing And Advertising Directory
Internet Marketing
Promotional Marketing
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Promotional Products
Signs And Banners For Promotions
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