Essay on Theoretical Understanding and Practical Application of Advertising and Promotion in Business

Topics: Marketing, Advertising, Promotion and marketing communications Pages: 6 (1438 words) Published: December 4, 2014

Certificate in Business (QCF)

Assignment Title: Essay on Theoretical Understanding and Practical Application of Advertising and Promotion in Business Unit Code: Y/601/1000

By Ivanka Davidova

Task 1: The Scope of Marketing Communications
1.1 Explain the marketing communication process that applies to the advertising and promotion of business. In order to explain how marketing communication process effects on the advertising and promotion of business, let’s briefly review the process of marketing communication. This is essentially the method of promoting an organization’s product to the market. It could be also understood as the activity of conveying information to potential customers about services that a company offers. The main objectives of the marketing communication are to create and sustain demands and preferences for a certain product, and to reduce the sales cycle. For that reason, a marketing communication process must be followed in order to reap proper benefits. Here is a simple overview of how this process will look like: Review, analyze and evaluate the company’s database information, the product value on the market, position and build a brand for the core elements: product, pricing and distribution, and last but not least important – an overview of potential competitors; Analyze of communication process (establish communication goals and objectives, communicate the message in an attractive and understandable way for the targeted customer); Determine budget for the marketing communication process;

Transfer mechanism or what type of advertisement will be used (Direct marketing, Internet marketing, Sales promotions, Public Relations, Television ads, Personal selling, etc.); Capture the customer’s response (interpret, monitor and evaluate how the message has been received by looking at the customer’s feedback); Reducing the sales cycle is a process, by which the company offering certain product understands the customer’s needs, and assists sales partners in their efforts to identify, engage and deliver the product in an attractive way for the targeted audience. In the marketing communication process, selecting the appropriate strategies and elements is crucial part for the success of the company’s business, because if well-organized, it could deliver rich dividends. There are two distinguished promotional strategies within the marketing communication process, called: “Push” and Pulls”. They are mostly used to increase the interest in the product. The first type- “Push” strategy relies on the company to boost the product through the distribution channels to create customer demand for the product. The second type- “Pull” strategy uses a heavy advertisement to create customer demand. In general, the marketing communication is a very significant process for the advertising and the promotion of products, and it plays a huge role for the success of companies’ business. 1.2 Provide an explanation of how the advertising and promotion industry is organized. Everywhere we look, we see advertisements and logos. The advertising and promotion industries are creating many advertising agencies and organizations, which can help market the client’s products and services. For example, the Advertising Standard Authority (ASA), the UK‘s independent regulator for advertising across all media, which has a certain strategy that makes each advertisement a “responsible” advertisements. There are many other advertisement organizations that could be listed as well, but let’s first briefly discuss the important key component in the advertisement industry- the communication. It plays a major part when it comes to advertisement because its purpose is to influence the buyers’ behaviors and to attract their attention to the offered products and services. It is well-known that the aim of advertisement is to inform, persuade, and sell products and services. Therefore, it is...
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