Download file to see previous pages...
This paper presents an insightful investigation of the effectiveness and contribution of advertising towards the success of a company’s sales. It manifests if at all the advertisement expenditures, exclusively lead to the sales elevation; or these efforts need to be blended with other suitable marketing activities so as to derive much better outcomes. It indicates the impact of advertising on company’s sales margin, while establishing facts from the theoretical material and draws out the potency of marketing activities in combination with proper advertisement towards the achievement of sales and profit targets.
The effectiveness of advertising in precipitating a company’s sales success in relation to the other elements of marketing strategies happen to be matter of serious concern in today’s business domain. Corporations tend to squander millions on advertising along with other marketing activities in an anticipation to enhance their sales and profitability. If advertising alone can lead to the company to improved sales, new customer attainment and existing customer retention successfully, then it could subsequently save a lot of company’s funds and efforts exerted in conducting other marketing activities.
Aaker (1991) states that the purpose of advertising is to distinguish a company’s product from others in the market hence establishing the product’s brand equity. The author signifies the concept of advertising with product differentiation and establishment of brand equity. Merino Srinivasan and Srivastava, (2006, p12) confirm this point as, “high brand equity firm may be able to differentiate themselves effectively in competitive environments, achieving both high prices and high customer loyalty increasing and stabilizing its sales revenues and profits”. Here also, high brand equity and product differentiation has
...Download file to see next pagesRead More
A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group.
The Marketing Teacher (2000) cited Barwell to expound on the term by indicating that “the marketing concept is a philosophy, not a system of marketing or an organizational structure. It is founded on the belief that profitable sales and satisfactory returns on investment can only be achieved by identifying, anticipating and satisfying customer needs and desires” (Marketing Teacher, par.
Hence marketing becomes one of the most crucial aspects of a business. Kotler et al (2007:7) has defined market as ‘a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others’.
The guerilla marketing campaign of the T-Mobile company was run for five consecutive months by sponsoring near to 25 events in the local festivals, state, and county fairs. T-Mobile has very well comprehended the importance of such marketing initiatives for the company’s success by activating 5,000 new accounts at such events and organizing more than 26,000 “Mobile Makeovers” (Chipps 1).
This is because the objectives of the issues involved can have resemblance. Whether large or small, most marketers if not all, always struggle to meet customer requirements and at the same time meeting their own commercial and marketing objectives. The marketing planning process needs the harmonization of open- based decisions at the peak of the commercial level with more closely distinct actions at the bottom.
It is in this reason that the proponent of this paper tries to gather information about the basic concept of marketing and the probable impacts of internet on the dominant logic of marketing. Considering that the traditional-based marketing has