In today’s global market, customers need clear information about all the various products offered. Producers and manufacturers also need to offer customers exactly what they want. Marketing studies the trends in fashion and also divides the prospective market into different groups according to age, sex, social status, buying capability, and so on. This is known as market segmentation.
The results of this market research give producers and manufacturers a clear picture of what to produce (product conception and development), how to promote the product (promotion), how much the price should be (pricing) and how to present the product (packaging). The combination of all these elements makes up the company marketing plan. The task of advertising is to inform the public that a certain product is available and to persuade them to buy that product and not a similar one.
The advertising media know no limit. They used to be just newspapers, magazines, television, radio, hoardings, leaflets or brochures. Nowadays they also include e-mail and internet. What’s next? There is no limit to meet the target audience. Many advertisements contain a slogan, which is a short phrase that identifies the product and attracts the audience’s attention.
Business & Management
Level One
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