CM - Advertising Lesson

ENTREPRENEURSHIP_LessonTopBanner.png

Advertising

Introduction

In this lesson you will learn about advertising your business. One of the most important things a business does is promote their business. They have to get customers to buy their goods or services; how is that done? Businesses use many methods of marketing to reach customers. Promotion is the part of the marketing mix that gives customers information about the business and product and motivates them to consider the business. There are a lot of decisions that go into the promotion process, first you need to understand the pros and cons of the various advertising media and then you need to design an advertising campaign to effectively reach the customer.

Advertising Media Pros and Cons Which type of advertising should you choose? Who is your target customer? What medium best reaches this customer group? What can the business afford to spend on advertising? Advertising Mediums Print Pros: large audience, range of budgets, can be detailed Cons: limited reach, miss total groups, limited creativity TV/Radio Pros: tell a story, engaging, target local and national audiences Cons: expensive, customers may skip through Digital Pros: quick and inexpensive, targeted, more forgiving Cons: more competition, reaching desired audiences can be difficult Social Pros: inexpensive, targeted, quick turnover Cons: easy to overdo, can be ignored due to oversaturation 

Trends in Media Pluralism Expanded Access Percentage of individuals with access to the internet: nearly half the world's population now has access to the internet The availability of media content has dramatically increased, largely through sharing and user-generated content on social media. Rating - the practice of zero-rating has increased pluralism in terms of access, but it has raised concerns about limiting net neutrality. Narrowed Choices Newspaper circulation has fallen in all regions, except in Asia and the Pacific. Women remain underrepresented in media, making up only 1 in 4 media decision-makers, 1 in 3 reporters, and 1 in 5 experts interviewed. Algorithm-ranked search results and social media news feeds have contributed to the creation of echo chambers and filter bubbles; where people reinforce their beliefs rather than dialogue across differences.  

 

ENTREPRENEURSHIP_LessonBottomBanner.png IMAGES CREATED BY GAVS and WIKIPEDIA Links to an external site. and GLOBAL MEDIA MONITORING REPORT