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WEEK 2
TOPIC: Advertising
CONTENT:
- Meaning and role of advertising.
- Types of advertising: (i) Informative (ii) Persuasive (iii)Competitive (iv)Mass and (v) specific
- Methods of advertising: Direct and Indirect
Sub-Topic 1: Meaning and roles of advertising.
Meaning of advertising.
Advertising means calling the attention of members of the public (audience) to a product, service or an idea in order to induce them to buy. Advertising can also be defined as any paid from of non-personal communication of ideas, goods or services conveyed through media channels. It is non-personal because it is targeted to a group of individuals and not at a named individual.
Roles of advertising
The aims, roles, objectives or purpose of advertising are outlined below.
- Advertising makes potential consumers to be aware of the existence of a new product, service or idea and the continued existence of older ones.
- Advertising compels producers to improve the quality of their goods and services in order to hold their grounds in a stiff, competitive market.
- It educates the public on the benefits derivable from the use of a particular product.
- It creates and increases the demand for goods and services: advertising stimulates demand by constantly reminding potential consumers about the availability of the product in the market.
- It influences wholesalers and retailers to stock the advertised goods.
- It increases the Firm’s turnover: advertising facilitates sales for a firm, and as a result the turnover and profit of a business may be enhanced.
- Development of large Market: advertising creates large market segment which leads to the development of larger markets.
- Provision of technical information about a product: advertising provides information that is needed by the consumers. Such information as quality, price, changes and special offers are provided by advertising.
- It helps to improve the quality of goods: research can be embarked upon to improve quality of products in order to outplay competitors.
- It creates brand Loyalty: the demand of the customers can be maintained by constantly arousing their interest on a particular product and this will no doubt create brand loyalty.
Sub-Topic 2: Types of advertising: (i) Informative (ii) Persuasive (iii) Competitive (iv) Mass and (v) specific
There are five types of advertising. They are:
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