A Significant Difference between Online and Traditional Marketing Exists - Term Paper Example

Differences between Online and Traditional Marketing Research Paper: Differences between Online and Traditional Marketing Introduction Advertisement is a means of promoting products and services, where companies communicate with the users of such products, with the aim of attracting and retaining a large customer base. Individuals in dissimilar business ventures have employed diverse modes of advertising their products, in an effort to promote their products and services, with an attempt to improve their customer base. In the past, individuals had employed the traditional modes of advertisement, where they utilized the media such as newspapers, radios and television, and other means such as billboards, coupons and flyers. However, the arrival of technology has transformed advertising, where diverse firms have the option to opt for either online advertisement, or the traditional advertisement modes. Both advertisements applicable and firms should consider their suitability before deciding on one. This document will look into the differences of both advertisement means while looking into the merits and demerits of both advertisement means. Thesis Statement A significant difference between online and traditional marketing exists, hence the paper will consider these differences. Price It is every firm’s attempt to strategize on minimizing cost while maximizing the suitability of the chosen mode of advertising. As such, as business organizations make an effort to minimize cost, it is imperative to determine that it reaches the target audience (Barker & Angelopulo, 2005). To begin with, in the traditional marketing, businesses must utilize billboards and advertisement placards and coupons, all of which require materials and expertise in their manufacture. This leads to increased costs since these materials have to be manufactured, stored and transferred to various regions within the target audience’s reach (Viglia, 2014). Additionally, it requires increased labor force in the printing and the distribution of the advertisement materials. This highlights the cost effectiveness of the online marketing. However, in online marketing, there must be a skilled employee, tasked with the responsibility of placing an advertisement on the internet, and ensuring that it reaches the target audience. A key advantage is the fact that numerous sites are available which provide free advertisement services to the business investors. Coverage The project of advertisement in various business ventures is to have the largest coverage within its target audience (Kurtz & Boone, 2010). In traditional marketing, the coverage of the products and services published on materials or advertised through radio or television. This indicates that the traditional advertisement mode will significantly cover individuals who have remote access to the internet, those that have access to the radio and television services (Barker & Angelopulo, 2005). As such, the target audience of this media form is significantly the individuals in the remote rural areas. The key disadvantage of this media form is the fact that it may receive little coverage since its duration is usually shorter as compared to its online counterpart, which is available at virtually all times (Barker & Angelopulo, 2005). However, the coverage of the online advertisement is only applicable to individuals with easy access to the internet. Owing to this characteristic, the traditional advertisement form is applicable to the particularly aged individuals, while the online advertisement has significance while attempting to reach the young individuals within the urban centers who have access to the internet. Online coverage continues to expand as more individuals within the marginalized areas continue to have access to the internet. Besides, the target audience has to be within the scope of the traditional advertisement forms in order to have its influence. At times, individuals within the range of these advertisement media such as radio, newspaper or television are not necessarily the target customers. However, online advertisement, anyone can have its influence as long as he or she are online. Additionally it online advertisement runs for 24 hrs daily. Tracking While advertising, it is significant to have a method of tracking whether it has reached its target audience. In the online advertisement mode is easy to track the number of individuals who have had the access of a particular advertisement (Viglia, 2014). This is possible through recording the number of clicks that an advertisement has received, thereby offering measurable results. While there may be an assurance that a particular advertisement has reached the target audience in traditional marketing, it is virtually impossible to trace the number of individuals that have had access to an advertisement (Pfeiffer & Zinnbauer, 2010). The ability to track the number and types of products that individuals have purchased and clicked, thus showing interest is significant since it enhances quick decision-making in the types of products to introduce in the market and improve on an advertisement. Traditional advertisement does not allow for this, and the following of consumers’ path is difficult, with only the exception of coupons and other advertisements with telephone contacts. Editing Online advertisement allows for fluid messaging. This means that it is unproblematic to alter any information within the company’s advertisement article, and hence lessen chances of errors within an advertisement article (Pfeiffer & Zinnbauer, 2010). As such, the firm can respond to changes in the market almost immediately. Additionally, one can put into operation new trends of the product in the old advertisement, thus reaching more target audience. In the traditional advertisement, it will be time consuming and costly to correct errors within an advertisement, or even impossible (Jianqing & Stallaert, 2014). Additionally, in the event of emergence of new trends, it means that there has to be an entirely new advertisement, thereby incurring additional unwarranted costs and company time. For instance, once the advertisers post brochures, catalogs and other printed materials to the target customers, it is impossible to retrieve them of editing of errors. With the online advertisements, one may be able to receive an instant response from the audience once the advertisement is online. The consumers may alert individuals on errors perceivable within the advertisement, an aspect that lacks in the traditional media. Additionally, once a firm has completed manufacturing a given product, they can be able to advertise it almost instantly (Jianqing & Stallaert, 2014). This means that the ability of attracting and retaining loyal clients is more guaranteed in the online advertisement as compared to its traditional counterpart. Position Advertising The employment of traditional advertisement modes such as televisions and magazines must rely on TV ratings or magazine subjects in order to boost the capabilities of reaching the target customers (Jianqing & Stallaert, 2014). The challenge in this mode is knowing the individuals watching the TV at that particular time or whether such a person may have access to these advertisements. However, in online advertisement, it is effortless to reach target customers because the company will only advertise in the sites that the target audiences are likely to access. For instance, while advertising products for the youth, it will be critical to employ the various social media platforms, thereby heightening the chances of reaching the target customers. Besides, while promoting tourism products, an individual has to employ the numerous tourist sites on the internet that the target audience may access. Opinion Owing to the speedy advancement technology, a greater number of individual now have access to cost-effective internet access, and affordable technological equipment (Viglia, 2014). As such, the view of the traditional advertising modes has also changed. Currently, individuals observe diverse forms of traditional advertisement as an interruption to the normal lifestyle (Jianqing & Stallaert, 2014). In some examples, while individuals follow their favorite programs an advertisement within the program is perceived as an irritating interruption that ought to be eliminated. Some individuals got the extent of switching TV channels during such advertisements (Kurtz & Boone, 2010). Additionally, such individuals perceive radio advertisements as ineffective interruptions. Critics of traditional advertisements argue against its modes such as roadside billboards, claiming that such disruptions on the road may be key sources of road accidents. On the other hand, internet advertisement is deemed as permissive advertising, where the audience has to choose on advertisements to access and the ones to leave. Besides, in the event that an individual is in critical need of a product, such an individual only needs to key in some terms and numerous advertisements and information on such products pop up (Jianqing & Stallaert, 2014). Besides, on the various social network platforms a person may opt not to see different products. Additionally, on the selection of a certain product, an individual can enquire on such a product and also to compare various relating products and opt for the most suitable alternative (Kurtz & Boone, 2010). Such individuals have the capacity to have instantaneous responses over such products. Conclusion Before deciding on a particular advertisement method, it is crucial for a firm to consider its appropriateness in terms of cost, target audience, and impacts to such an audience. The development of technology has led to the creation of innovative and cost effective advertisement mode, thereby enabling individuals to have more advertisement options (Kurtz & Boone, 2010). However, as the internet advertisement may be viewed as the most appropriate, it is critical to consider its effectiveness on particular target clients. The conservative senior individuals may be well covered with the traditional advertisements such as newspapers and television sets while their junior population counterparts may be a critical target audience for the online advertisement. In some business ventures, the coverage of target audience has a higher significance than the cost. As such, they may opt for both the traditional and online advertisement. References Barker, R., & Angelopulo, G. (2005). Integrated Organisational Communication. Cape Town: Juta. Jianqing, C., & Stallaert, J. (2014). An Economic Analysis of Online Advertising Using Behavioral Targeting. MIS Quarterly, 38(2), 429-A7 Kurtz, D., & Boone, L. (2010). Contemporary Marketing 2011. Mason, OH: South-Western, Cengage Learning. Pfeiffer, M., & Zinnbauer, M. (2010). Can Old Media Enhance New Media? How Traditional Advertising Pays off for an Online Social Network. Journal of Advertising Research, 50(1), 42-49. Viglia, G. (2014). Behavioral Pricing, Online Marketing Behavior, And Analytics. S.l.: Palgrave Pivot. Read More