Identify and explain the promotional tools of marketing mix which is an impersonal form of communication and is paid for by the marketer. Also explain any three benefits of this tool.
Advertising refers to any paid form of non-personal presentation and promotion of goods and services of an identified sponsor.
Advertising is the most commonly used tool of promotion. Advertisement provides information or details regarding benefits, price and availability of the goods and services. The basic purpose is to increase the demand and sale of goods and services.
Some common modes of advertising are:
(i) Newspapers (ii) Television (iii) Magazines (iv) Radio
Benefits of advertising are as follows:
(i) Mass Reach: Advertising reaches the masses, i.e., it can reach a large number of people at a particular point of time. For example: Advertisement on newspaper or T.V. reaches lakhs of people.
(ii) Enhancing customer satisfaction and confidence: A publically advertised product gets authenticity as there is always a proof for it. Buyers feel more comfortable to buy a widely advertised product. Advertising creates confidence amongst buyers about the product quality and hence they feel more satisfied.
(iii) Expressiveness: With the use of latest techniques, graphics and multimedia, modern advertising has become one of the most forceful medium of communication. The special effects are created to make products and message more expressive, appealing and attractive.