Advertising and Promotional Strategy

Advertising and Promotional Strategy

Introduction

Marketing is defined as the process of planning, executing and communicating the value of products, pricing conception, distribution of ideas, goods and services for the purpose of selling the product or service and to meet the individual or organizational objectives. In other words, marketing can also defined as the commercial functions involved in the transfer of goods and services from the producer to the consumer.

The social aspect of marketing is that it bridges the gap between the material requirements of a society and the economic patterns of response. Marketing is a means of satisfying these needs of the society through building long term relationship with the customers. It is an organizational function and a set of procedures for creating, delivering and communicating the benefits and value of the goods and services of the company to its customers. Marketing also manages customer relations in a way that benefits the organization and its shareholders. It is an art of indentifying the target market, understanding the buying behavior and lifestyle of customers and developing a positioning strategy through market analysis and market segmentation. Market segmentation refers to the division of a market of consumers with similar needs. For example, market can be segmented on the basis of gender, age, geographical location and demographics. The positioning strategy identifies the problems of the customers with the help of supporting data and finds a solution for the problems to meet the objectives of the business (Dibb, et al, 2005).

Discussion

There can be different definitions of marketing depending on the role of the organization in the strategic planning within the competitive market of the organization. The origins of marketing have its roots far back in history with the Italian economist Giancarlo Pallavicini, laying the foundations of modern marketing. Marketing is defined as the managerial and social process of meeting the business objectives by creating and exchanging values and products (Brassington, et al, 2005).

Marketing strategy is the process of concentrating the resources of an organization where they can be utilized optimally and as a result increase the sales of the organization and attain sustainable competitive advantage. Development of a marketing strategy is important of any business because it is a procedure in which an organization concentrated its resources on the opportunities to increase its sales (Kent, et al, 2009). The major concern of marketing strategy should be customer satisfaction. The marketing strategy should be such as to ensure a competitive position in the market (Drummond, et al, 2005).

Role of promotional and advertisement executive

The main purpose of advertising executive is to make sure that the companies generate maximum profits from its resources and cash on every business opportunity. This helps the business to grow an increase the customer base. The advertising executives have to spend a great deal of time with the potential clients and negotiate with them. They negotiate to sell advertising space with magazines, newspaper and publishers of websites as well as radio and television broadcasting companies (Schudson, ...