Advertising is like communication. You communicate with your consumers with this. You make business via advertising. Advertising happens through newspapers, radio, billboards, hoardings, television, print ads, etc.
The main purpose for advertising is to convince customers that your products or service is best in the market, and how it can be useful for them (the consumer).
Advertising helps you gain customers, make a name in the market, product awareness.
It is an Investment, not an expense. There are mainly 4 types of advertising.
- Product Advertising- This happens while introducing a new product in the market, communicating the benefits and features of the product.
- Corporate Advertising-This is business to business advertising.
- Direct Response Advertising-This makes the audience register their details for free gifts, incentives or special discounts.
- Financial Advertising-This helps you raise awareness about your company among investors, shareholders, analysts and advisers.
No matter how much the budget is, but one should never ignore advertising. Because without good advertising, how will people know about your product or service. Even about your existence. Advertising also helps in educating people about society. It keeps them updated about the market.