Nowadays, advertising has become an indispensable part of the business. In fact, no business can survive in the long run, in the absence of proper advertisement. It not just informs the customers about the product, but also helps in boosting sales, builds reputation, creates brand awareness and increases market value. While all the companies spend on advertising, but not all … [Read more...] about Advertising Techniques
Broadcast Advertising
Definition: Broadcast Advertising means a form of advertising which uses electronic media to communicate a message to a vast audience. It makes use of airwaves as the channel through which the media is directed to get through to a wide audience. Broadcast Media ensures a large coverage with a short commercial exposure of the company's offering. This form of advertising is … [Read more...] about Broadcast Advertising
External Environment
Definition: External Environment refers to the part of the business environment which comprises all the outside elements or forces that affect the business operations. As a business cannot survive in isolation, it has to act or react effectively to every happening, just to keep the business going. Therefore, the external environment has the capability of influencing the … [Read more...] about External Environment
Advertising Appeal
Definition: Advertising Appeal means the approach of the advertiser to pull the attention of the customers towards the product or service, or influence their feelings and change their attitude towards it. It aims at prompting a response from the customer, concerning the item being advertised. An appeal can be a request, plea or anything else that arises in the interest of … [Read more...] about Advertising Appeal
Job Description
Definition: Job Description is a written document which describes the job in the organization, on the basis of the data collected from the job analysis. It covers the job contents such as the roles, responsibilities, scope, working conditions, hazards, location, purpose, duties and tasks of the position in addition to the job title, job summary, designation of the superior … [Read more...] about Job Description
Print Advertising
Definition: Print Advertising refers to advertisements published in hard copy in large-volume publications like newspapers, magazines, journals, brochures etc. It aims to gather the attention of the target audience when they go through with the particular publication. This ultimately persuades them to try the product at least once. At present, no newspaper, magazine or journal … [Read more...] about Print Advertising
Advertising Budget
Definition: Advertising Budget refers to the estimation of the total promotional expenditure on the company's offerings. It is the amount the company incurs on advertising for a particular duration. It is a percentage share of the total marketing budget. Advertising aims at creating demand for the product. The advertising budgeting decision is divided into two … [Read more...] about Advertising Budget
Unique Selling Proposition (USP)
Definition: Unique Selling Proposition, abbreviated as USP, is a one-line statement that businesses choose to stand for. It makes your business beat the competition and build a distinct identity in front of the customers. The distinct benefits the company promotes that the customers derive from consuming the product or service. It could be related to the product quality, price, … [Read more...] about Unique Selling Proposition (USP)
Bandwagon Effect
Definition: Bandwagon Effect implies a psychological fact wherein people adopt or do something because most of the people are doing it. In doing so, they keep aside their own beliefs. They do so to become part of the group. It affects an individual's spending and investing decisions. Important: You might be wondering what happens due to this effect. Well, it affects various … [Read more...] about Bandwagon Effect
Bullwhip Effect
Definition: The bullwhip effect is a concept of supply chain management. It explains how minute fluctuations in demand at the retail end can result in a very large fluctuation in demand at the wholesaler, manufacturer and supplier end. It is an internal (firm) response to external (environmental) stimuli. A bullwhip effect takes place when retailers react actively to the … [Read more...] about Bullwhip Effect