Advertising serves as a mass
communication tool to
marketers where a single message is sent to many in an
audience. It, however, has different connotations for different
people. It is a business, an art form, an institution and a
cultural phenomenon. For a product like Pepsi, advertising plays
an important role in creating brand awareness and brand loyalty. For
a retailer, it is a means to attract customers into their stores. For
an art director, it is a creative expression of the concept. To
a website manager, it is a way to increase the number of
people visiting the site. Advertising, basically, generates awareness
about the product or the service in the minds of potential
customers, builds knowledge about it and helps to increase the recall
value. Different ad strategies are used for reinforcing and modifying
the existing attitudes of consumers to transform them from
first-time buyers to repeat buyers and finally to make them brand loyal.
Today's companies are innovating the best possible
ways to understand how and where consumers want to
receive information about the brands. Traditionally, advertising has
been considered as a means to inform consumers about the
functional capabilities of the brand. It primarily focuses on the
symbolic values of the brands and meanings relevant to the consumer. In a
way, it outlines the path for consumer persuasion. But, the
changing consumer preferences and new technological developments
are reshaping the environment in which the brand image is
developed at various levels, like the corporate, retail or product levels. Under
such conditions, the lines between information, entertainment
and commercial message are getting blurred. Firms of all sizes need
and use advertising and companies, today, are using concepts
like branded entertainment, Internet, influence marketing and
other modes of communication to reach the target customers and pass
their brand message. The conventional media are being supported by
new channels to reach the customers. Many leading organizations
have been spending huge amounts of money in the brand
building exercise. For example, in the year 2006, Microsoft spent around
$11.5 bn, Coca-Cola, more than $2.5 bn, Yahoo, $1.3 bn, eBay, around
$871 mn, Google, $188 mn, Starbucks, $95 mn and confectionery
firm, Perfetti, around Rs. 6 bn on various brand building exercises. |