Business & Finance Advertising & sales & Marketing

Reasons for Advertising

Capitalistic economies thrive on competition.
Any successful business is on the constant lookout for new strategies to increase sales.
Invariably, they all use advertising in some form.
But in this competitively charged marketplace, it is often essential to advertise to the most obvious customers and that means a local marketing plan.
Television and radio have been the most obvious commercial vehicles for several decades, but print media outlets are also still highly efficient at getting the word out about particular deals in any store.
There is no 15- to 60-second information window and oftentimes it is of greater value when considering customer information and marketing expense.
It is imperative for even the smallest of local stores to have a promotional budget of some type.
The ever-increasing popularity of the internet has made it a very attractive method of commerce enhancement, but may not provide intended results for local businesses.
Local business advertising online is still in a development stage in many ways and until a larger segment of the customer base develops more computer presence, it will still lag behind.
It can, however, be a very inexpensive way to promote a retail brand or merchandise.
Sales growth is one of the primary tools utilized by businesses to assess their business performance.
This is essentially the ultimate goal of an advertising plan, but there are other objectives that go into the process.
Sales growth is just the final part.
The initial purpose of advertising is top-of-mind-awareness, or TOMA power.
TOMA power is the branding condition that occurs when a potential customer automatically thinks of your store or product as a first choice when a purchase is necessary.
This identification is as important locally as it is nationally.
All customers live locally and normally shop in their nearest communities.
This becomes more important when the purpose of local advertising is to promote deals within any store.
Many products are not often associated with being available in small towns and advertising serves to inform the potential customer that it is unnecessary to venture out of town to shop.
Once the advertising schedule has the customer inside the store, the process is still not completely done.
In-store advertising also serves a distinct purpose in the trail to the cash register, but is probably more correctly described as an additional marketing device.
A prime example of this process is suggestive sales.
This is a highly effective method of increasing sales potential.
It is still a well-known fact within all local business communities that all successful operations incorporate a broad-based marketing plan.

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