Business Studies

Advertising and Types of Advertising

len Alfred Ajibola - Mon, 19th August, 2019 @ 13:31: PM

Topics in Business Studies

Advertising and Types of Advertising Land Mode of Transportation, its Advantages and Disadvantages Water and Air modes of transportation, its Advantages and Disadvantages Consumer Protection - Agencies of Consumer Protection Consumer Right and Protection Methods of payment through commercial Banks, Part 2 Methods of payment through Commercial Banks Meaning, Scope and Importance of Business Studies Meaning, Types, Advantages and Disadvantages of Business Structures Clerical Staff: Grades, Qualities and Functions of a Clerical Staff



Academic Questions in Business Studies

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Which of the following is not a Right of Consumer Protection?

  • A. Right to Education
  • B. Right to Choose
  • C. Right to Safety
  • D. Right to the Good things of Life
  • E. Right to be Assured
  • F. Right to Compel

Which of the following is NOT a government agency of consumer protection?

  • A. Ministry of Sports
  • B. Ministry of Commerce
  • C. Consumer Protection Council
  • D. Ministry of Health
  • E. Ministry of Environment
  •  F. National Drug Law Enforcement Agent

Define Consumer Protection.

In buying and selling, the retailer will usually operate from the stall while the wholesaler operates from the _____.

  1. chain store
  2. hyper market
  3. hypo market
  4. warehouse
  5. mobile shop
  6. supermarket

What is Advertising?

Advertising is a core part of any successful business and for this reason, we see it in every part of our society; from the handbills to posters and throughout the entire media (radio, television and social media). As a matter of fact, Google recorded the following revenues from advertising; as shown in the table below.

YEAR

ADVERTISING REVENUE ($)

2018

116.32 Billion

2017

95.38 Billion

2016

79.38 Billion

2015

67.39 Billion

2014

59.62 Billion

2013

51.07 Billion

2012

43.69 Billion

2011

36.53 Billion

2010

28.24 Billion


Advertising is defined as the act of making known or creating awareness to the end users and general public about goods, products or anything that is for sale; in addition to any services that can be offered.

The goal of advertising is to make people buy goods and require services rendered by the advertisers.

You may read on consumer rights and protection here

Note: Advertising can be achieved through a variety of means. Some of the various means of advertising include physical communication, magazines, news papers, billboards, television, radio, social media and the internet at large.

 

Types of Advertising

  • Relationship Building Advertising

The goal of this type of advertising is to build relationship with the customers rather than make immediate sale. For instance, some companies may offer free samples of their products to potential customers in order to get their phone numbers, email address and their physical address.

A typical example of relationship building advertising is seen when one buys a new SIM card. Such a person may be given some mouth watering bonuses for both calls and data (spanning for months). The real goal of the network providers is to build a relationship with the customers over a long period of time.

 

  • Brand Advertising

Large companies indulge in brand advertising. Brand advertising will not normally result in an instant sale of the product; rather it shows the customers and general public the goodwill of the brand. Such brand may sponsor educational competitions, sport games, festivals, musical shows, television and radio programmes and even a website.

In Nigeria, Peak milk, Milo, Bournvita and Cowbell all run brand advertising by promoting academic activities; especially at the primary and secondary level.

 

  • Informative Advertising

Informative advertising is a type of advertising that informs the prospective buyers about the availability of certain products. Normally, informative advertising is done when a new product enters the market; or a new service has been made available. For instance, a telecommunication company could make advertisement on a new package concerning calls and data tariffs. The goal is to inform their subscribers and non subscribers about the availability of these new tariffs.

 

  • Fairs and Exhibition

Periodically, trade fair exhibitions are organized within different communities. During the exhibition, different producers, manufacturers and traders come along with their products in order to display and sell to the people (usually large in number). The products sold in trade fair exhibition and quite cheaper and this makes it an excellent platform for marketing/advertising a new product from infant industries.

An example of a market in Nigeria where trade fairs and exhibitions are popularly carried out is the Trade Fair Complex along Lagos-Badagry road.

Note: We may also have an international trade fair exhibition where manufacturers, producers and traders from different countries converge for the purpose of marketing, promoting and selling their products.

 

  • Persuasive Advertising

The goal of persuasive advertising is to convince the consumers of a product or make them see reasons why a particular product or service is good for their consumption. A convincing trial from persuasive advertising will earn the company new customers.

From a personal experience, I have been persuaded by some marketers to give their product a trial. I initially declined but due to this nature of advertising, I had to buy the product even though I didn’t technically need it at that time.

 

  • Direct Advertising

Direct advertising is focused on a specific group of consumers. Google Adsense sometimes uses this kind of advertising; for instance, when one reads and article about God on a web page, Google Adsense may pop up adverts on spiritual books, churches or other things that has to do with God. Also, some people achieve direct advertising by sending targeted email advertisements to certain people after their interest had been researched.

When we hear phrases like “smokers are liable to die young and not to be sold for persons below 18 years of age”, such advertisements are direct advertising.

 

  • Outdoor Advertising

Outdoor advertising requires an open area to showcase or promote one or more products. We see outdoor advertising in technologies like neon signs, electric displays and sky writing. When large posters are plastered on cars, bus or trains, it should also be considered as outdoor advertising. Outdoor advertising helps the advertiser to catch the attention of every class of people living and working around a neighborhood; for instance, a very tall building (let's say a hotel) may utilize beautiful and attractive neon signs to display its standard and international delicacies.

 

  • Competitive Advertising

A competitive advertising is done to show or tell the consumers that a product is better when compared to other similar products. In this kind of advertising, a company may indirectly expose the weakness of their competitors in order to give their products or services a competitive edge. You may have listened to this kind of advertising on radio; or seen it on television.

 

  • Social Media Advertising

The world we live in was once considered to be very big; but as it stands now, it is a global village; and all thanks to the internet and social media. Social media advertising are used on a variety of social media platforms like facebook, twitter, whatsapp and instagram. Companies and people display their products on their social media page in hope that a potential customer will click on it or contact them via their email or telephone number.

 

  • Email Advertising

Nowadays, it is very common to see sponsored emails in our mail box. Often times, ads are written on these emails (so as to inform the user of its purpose). On the flipside, unsolicited mails or spam mails may be sent to our mail box for the purpose of advertisement, phishing (a type of email that gets one to click a dubious link) or another kind of criminal activity.

One has to be very careful when clicking links from email advertisements.


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len

Alfred Ajibola is a Medical Biochemist, a passionate Academician with over 7 years of experience, a Versatile Writer, a Web Developer, a Cisco Certified Network Associate and a Cisco CyberOps Associate.



Amazing facts in Business Studies

The world's 💰💰💰100 richest people 💰💰💰  earned enough money in 2012 to end global poverty four times over


NOTABLE POINTS IN Business Studies

Consumer protection refers to the ways or methods through which consumers enjoy maximum satisfaction from the goods they buy and services rendered to them.

The agencies of consumer protection assists in protecting the consumer rights. These agencies may also be referred to as the organs of consumer protection. Basically, we have three of them, they are:

  1. Government agencies
  2. Independent agencies
  3. Legislation

Please read on Consumer Protection here

One of the responsibilities of the government of every nation is to set up agencies or organizations that will protect the interest of the consumers and invariably, the people.

Below are some of the Government Agencies of consumer protection

  • National Drug Law Enforcement Agency (NDLEA)
  • National Agency for Food, Drug Administration and Control (NAFDAC)
  • Consumer Protection Council (CPC)
  • Rent Tribunal
  • Ministry of Health
  • Ministry of Commerce
  • Ministry of Transportation
  • Ministry of Environment
  • National Wages and Salaries Commission

Please read on the Government Agencies of consumer protection here

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