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Advertising and promotion are important cogs in the marketing
wheel of a company. Competitions, coupled with technological
evolution, has opened newer vistas for all marketing professionals.
This article discusses the impact of the latest developments
in the advertising and promotional sphere on the market,
the extent to which they have been successful, and emphasizes
the need for an India-centric model.
Advertising and promotion determine the success of products
and services in the marketplace. Companies spend substantial
amount of their revenues to first have significant mind
share which they subsequently try to convert into market
share. The types of advertising and promotional methods
adopted by companies have evolved over the years. Companies
have roped in brand ambassadors; have tied up with various
other companies making complimentary products to ensure
their brands create the desired image in the mind of all
prospective customers. Many companies have joined this frenetic
bandwagon of advertising and promotion to such extent that
they at times fail even to check the returns on their valuable
investments. Moreover, this clutter created both in the
print and electronic media pose new barriers and challenges
to companies, which already witness a decline in sales and
revenues, thanks to the inflation and global downturn. All
these developments coupled with innovation and creativity
taking center stage in this field have brought new dimensions
to the fore.
Advertising has caught the fancy of all professionals as
modern day marketers consider it as an integral component
of all communications taking place between the company and
its customers. The modern approaches to advertising adopted
by companies have undergone a paradigm shift in the last
few years, thanks to the emergence of new technology and
globalization.
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