Need and Importance of Advertising
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Introduction to Promotion and Advertisement
In modern business world, to become successful, use of promotion and advertisement should be effectively done in order to sustain in the market. Advertisement is a type of marketing communication tool which is used for selling or promoting something. On the other hand, promotion is a process through which customer’s awareness is raised towards brand or product (Fay, 2006). Through promotion, brand loyalty increases and it also helps in generating sales. This report is about Westfield Stratford City which is a metropolitan capital for East London, a dynamic and innovative place for a new generation of consumers to shop, to eat, to meet, to be entertained and to stay. This report covers four learning outcomes which include scope of communication process that is applied to advertising and promotion at Westfield Complex along with the importance and techniques of advertisement and process for the formulation of a budget for an integrated promotional strategy.
1.1 Communication process that applies to advertising and promotion at Westfield Complex
In simple words, communication means sharing of information to others with an aim of exchanging ideas which develop understanding among the communicators. Westfield Stratford City has to use effective communication process for updating customers regarding the services and products delivered by them (Alvare and Casielles, 2005). For effective communication process, the key elements are encoding, channels and signals, receiver and decoding, feedback and noise. In the communication process, if any of the elements will get absent then the process will be distorted.
It is very important for an advertiser to analyze the sources through which he tends to connect with the customers. AIDA model can be used by Westfield Stratford City for effective promotion and advertisement. AIDA (Attraction, Interest, Desire and Action) model helps in developing the strategies for communication and also helps in interacting with the customers which enables them in responding better to their desires and needs (Fam, Waller and Erdogan, 2004).
This model will help Westfield Stratford City in developing an effective advertisement process which would create excitement among customers. For keeping the interest of advertisement, customer’s requirements must be undertaken as this will show cast the interest of individuals. Once the interest is developed among customers, then desire would be created. For this process, the promotional planner should develop the desire towards product (Chen, 2010). After this process, final action will offer the services or goods to customers. Therefore, the communication process helps marketers to have an effective market through promotion and advertisement.
1.2 Background of advertising and promotion industry
Thousands of companies are involved in advertisement and promotion industry and have relatively a complex structure. This industry is divided into four principles, that is, media, clients, agencies and suppliers of promotional materials (Carrillat and Astous 2012). All these principles have a close relation with each other. Following are the principles which help Westfield Complex management in effective advertising and promotion:
Media suppliers: These are the fastest tools for advertising. They provide a wide range of sources for advertisement like newspaper, television, radio, magazines and posters (Petrovici and Marinov, 2007). Each source for advertisement has its own limitations and advantages. Advertising agency should calculate and choose a suitable source which would help them in attracting customers.
Advertising agencies: They are the individuals or organization that distribute advertising product to the customers. They plan promotional and advertising campaigns, buying of media and integration of other promotional materials (Martin, 2012). This agency will help the advertisers in selecting suitable media channel and will contact them to buy the media.
Clients: They are the one who demand on promotion and advertisement on their products. With the help of their own company’s employees, they can design the promotional and advertising plan or hire advertising agency (Razzi, 2014).
Suppliers of promotional materials: They are the one who carry out the additional activities for advertising campaign like printers, promotional gifts, exhibition organization and co-ordination of corporate hospitality (Sabri, 2012). All parties have their own roles like exhibition organizer is responsible for informing place and price of product exhibition for company.
1.3 Promotional regulations in UK
There are many regulations followed by UK which have to be followed by all cities including Westfield Stratford City. ASA (Advertising Standard Authority) is one such authority in UK which maintains a standard for advertisement. This authority develops vital rules like customer's protection from unfair trade, data protection act, distance selling act, sale of goods act and customer credit act.
Unfair trade act: This act protects the customers form misleading messages by the firms. It examines whether the firms are providing customers with what they have promised in the advertisements (Lawlor and Prothero, 2008).
Sale of goods act: They examine that whether the product which is provided to the customers is in good condition or not. Products provided by the firm should not be defected and should be in a working condition.
Data protection act: This act ensures the protection of customer’s information. After a certain period, the information of customers should be erased from the database of company (Hill, 2006). Information about customers should only be used for the purpose it has collected.
Customer credit act: According to this act, there are many restrictions in maintaining relation with the creditors and debtors in terms of fair practices. It includes restrictions like requirement of proper license, no unfair practices, etc.
Distance selling act: This examines the online selling process. The information provided online regarding the product should be correct and with refund policies.
1.4 Current trends in advertising and promotions including the impact of ICT in Westfield Complex
The latest trends for advertising and promotion including impact of ICT in Westfield Complex are as follows:
Television: It is an expensive source for advertisement and Westfield Complex that should be used as the main channel for advertising services or products. In Westfield Complex, most of the families have television and it has proved to be the easy and fast way for attracting large audience (Shah, 2009). Nowadays, film stars are hired in advertisements which raise the effectiveness as it gives the guarantee of product and makes customers feel fashionable. Westfield Complex can advertise on SCTV5-shopping TV, TV shopping, SCTV10-Home shopping, etc. as these are few famous TV channels.
Internet: It is the cheapest and easiest way for advertisement. Websites with large viewers can be selected for displaying company's advertisement (Belch, Belch and Belch, 2012). Some popular websites like youtube.com, vnexpress.net, etc. can be used for the advertisement by Westfield Complex. ICT has developed a great opportunity for developing relationship through both B2B and B2C. It allows a mass and quick way to communicate with the large audience (Stafford and Faber, 2004). There are many ways through which internet can be accessed. ICT is not only beneficial for advertising agencies but it is beneficial for the advertiser as well as for the audience as well. Information gets easily available and hence, quick promotional campaigns can be conducted (UK Mobile ad spending to pass 2B in 2014, 2014).
Social media: This is the most popular source of advertisement. Social media like Facebook, YouTube, Twitter, etc. can be used by Westfield Complex for advertisements.
Outdoor advertising: This focuses on communicating to customers when they are at the public places. Outdoor advertising can be done in street furniture, advertisements on billboards, etc. In the context of Westfield Complex, advertisements done on main streets and on billboards will be helpful (Clow and Baack, 2013).
2.1 Role that advertising can play in an integrated promotional strategy for Westfield Complex
Marketing communication possess different types of tools like sales promotional, advertisement, personal selling, public relation and direct marketing (Baer, 2013). Each of the tools has their own importance and among these tools, advertisement is of key importance. In this context, Westfield Complex can help in understanding the role of advertising in an integrated promotional strategy:
Most important function of advertisement: The most important function of advertisement is “Inform”. It makes the customers aware about the product or services provided by the firm. Westfield Complex displays its advertisement on TV regarding the products and services they offer.
Tolls focused by Westfield Complex on marketing communication: Westfield Complex focuses on sales promotion, advertisement and in developing public relations (Mueller, 2011). They use TV, magazines, websites, etc. as different ways of promoting and advertising.
2.2 The way in which branding can be used to strengthen a business such as the Westfield Complex
Branding is a process through which the organization stands different from their competitors. Through distinctive names, designing, packing, etc. a brand is created. Branding helps in developing awareness, credibility, reputation and customer satisfaction. It increases the uniqueness of product. It develops the trust among customers. Among all advantages, the most important benefit is that it increases the sale. This means that if the prices of commodity get increased still, the customers will buy the product (White, Parsons and Ceylan, 2014). The brand image, name, etc. plays a vital role in attracting the customers in Westfield Complex.
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2.3 Review of creative aspects of advertising in the context of Westfield Complex
Advertising plays an important role in creating image of services and production the mind of customers. There are following things which have to be kept in mind in creating an advertisement like message, theme, style, graphic design, use of language, etc. Creative advertisement should grab the attention, should be memorable, interesting and it must achieve the set goals. Westfield Complex should focus on the youth and teenagers as its advertisement should be colourful. Yellow and black colour should be used more as it appears attractive. They can attract the customers by providing attractive price, convenience, design, etc.
2.4 Various ways of working with advertising agencies
It is very important for the organization to choose correct advertising agencies. There are many advertisement agencies among which few are like Full-service agency, Creative hot shop, Media independents, In-house, Marketing agency, etc.
Different ways through which advertising agencies work are as follows:
- Advertising message: Message will be decided that has to be presented to the customers.
- Ways of advertisement: Different ways like advertisement through newspapers, TV, radio, etc. will be decided (West and Prendergast, 2009).
- Expenses: Lastly, the advertising agency will convey expenses incurred to the firm.
From this report, it can be articulated that AIDA (Attraction, Interest, Desire and Action) is the best way for promotion and advertisement. In addition to this, there are four principles for promotion and advertisement. Among these principles, media suppliers, advertising agencies, clients and suppliers of promotional material, all plays important roles in advertisement and promotion. Further, Unfair trade act, Sale of goods act, Data protection act, customer credit act, Distance selling act, etc. are few regulations for maintaining the standards in UK.
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