Define advertising, and explain it through a banking-related example.Advertisement in simple terms refers to the act of making a notice or public announcement with the aim of promoting a product, a job vacancy or a service (Stanton, 1984).
These are all the assignments from week 1 thru week 4.
WEEK 1
Define advertising, and explain it through a banking-related example
Advertisement in simple terms refers to the act of making a notice or public announcement with the aim of promoting a product, a job vacancy or a service (Stanton, 1984). It is done through different forms of audiovisual communication such as print, television and so on. In technical terms, the act of advertisement can be described as a form of marketing involving the sending of a non-personal message to the consumer with the aim of selling an idea a product or a service (Stanton, 1984).
Let’s say a bank wants to make its consumers aware of a new mobile banking feature. The feature allows them to control all their banking activities via a mobile phone app. The new banking feature is not only to ensure its current customers stick to the bank in question but also attract new ones. The bank needs to advertise this feature to make the immediate public aware. But awareness isn’t enough, it needs to make them interested in what they have to offer, hence they will end up using catchy words and phrases coupled with flashy graphics with short slogans. This is what constitutes the process of advertisement. Everything revolving around making an audience aware or interested in a feature.
Define public relations, and explain it through a banking-related example
According to Roos (2014), Public relations refer to all activities that revolve around a certain company or organization maintaining a preferred and favorable message in the eyes of the public. Contrary to advertisement, public relations are usually not marketing oriented hence it may resort to the provision of free coverage to the clients (Roos, 2014)
Let’s take into account the banking scenario presented above. A customer may be so impressed with the wide range of features the banking app has to offer that he/she may write a letter expressing how overwhelmed he or she is. The banks may then call the customer and conduct an interview concerning the app’s features. The interview may be put on the newspaper as an article. The customer may not be offered any form of payment, but the publication of the interview will work very well in portraying a good image of the bank to the consumers.
Compare and contrast these concepts as they relate to marketing
Advertising and Public Relations are similar in that both seek to raise public awareness for promotion purposes (Roos, 2014). They are both communicated through a formal form of communication such as print and television, and finally, they are both done with the intent of gaining favorable coverage from the immediate public (Roos, 2014).
Advertising, however, gives the company, individual or organization complete control on the structure of the ad itself, such as the message, graphics and so on (Stanton, 1984). Public relations give limited control. Advertisement is also centered to the promotion of a specific product while public relations involve the promotion of the overall brand.
Illustrate how these are components of the overall marketing mix.
According to Stanton (1984), advertisement initiates control. Since you pay for slots in the various forms of media, you can greatly manipulate the time, setting, message and overall gist of your ad. You can also specify the geographic location and time in which the ad will air. Advertisement is also a basis for brand promotion.
Public relations work to ensure the audience has nothing but positive remarks toward the company in question. This goes hand in hand with marketing because no one is likely to acquire a product from a negatively reviewed company.
References
Stanton, W. J. (1984). Fundamentals of marketing. New York: McGraw-Hill.
Roos, Dave. “What Is Public Relations?” HowStuffWorks. N.p., 5 Apr. 2008. Web. 25 Nov.
2014
Part 2 of week 1
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