MCM501 Assignment No 01 Solution & Discussion Due Date:14-11-2016
Assignment Question: Q.1. Discuss the below given objectives of Advertising with the help of examples from recent advertisements being telecasted on Television. 15
1. Building awareness of products
2. Providing product information
3. Reinforcing past purchases
4. Tells & shows uses to the consumers
5. Increasing Brand Preference and Brand Loyalty
Q.2. Among the old PTV advertisements, which has been your most favorite one and Why?
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MCM501 Assignment solution 2016
Question No 1 answer:
1) the key to creating strong brand awareness is by repeatedly exposing your brand to your target audience.
Your efforts to build brand awareness help consumers become familiar with your products or services. Over time, by repeatedly exposing your brand to your target audience and by delighting them with remarkable experiences, you earn their trust and loyalty. And that usually translates to more sales and a host of other benefits for your business.
Coca cola, Nike, and McDonald are already giants among brands. Yet, they continue to pour millions of dollars on advertisements, commercials, event sponsorships, and endorsements. Why? It’s because they recognize the importance of maintaining their brand identities in the marketplace and the intangible benefits that a strong brand brings.
2) Product information can persuade consumers to purchase the product. The product must fulfill a need or solve a problem that the customer may be experiencing. For example, if a customer needs a digital camera for a night time wedding event, she will look for a camera that successfully performs at night. Therefore, product developers must make it a priority to present accurate product information customers can depend on.
3) Without reinforcing the customer’s decision to purchase, it will be difficult to turn them into repeat clients, much less into clients that will refer business to you. Below are four simple tips to help build customer relationships and boost their confidence by reinforcing the purchase decision.
Give the consumer more than he/she expected – do not let them know ahead of time or it won’t be unexpected.
2.) Provide belief-raising, doubt-reducing information. Assure them they have gotten quality items at a good price.
3.) Reinforce in your advertising – for those whom have already purchased from you will be listening.
4.) Reinforce in written material, written reinforce is to be supplied after the purchase. Make it a pleasant surprise. Mail or hand them a printed guarantee and a number to call for further questions.
4) One of the most critical and basic long-term objectives of marketing is to brand your company or product. This is the use of promotional techniques to create a particular reputation that resonates with target customers. Lexus has developed itself as a luxury and status car brand for people with upper-middle to upper class incomes. Target is a value-oriented retailer of fashion, apparel and home goods. Wal-Mart has built its brand on low prices. Regardless of the image, consumers prefer to purchase products and services that offer a clear value proposition as opposed to ones with uncertainty or mixed messages.
Question No 2 Answer:
Well, there are many advertisements which touched my heart or left a lasting impact on my mind. I would name one of those, which gives me strength every time I watch it. And that's the one for Cadbury Bournvita.
I liked this ad because:
1. It is Inspiring not only for children but adults too
2. It directly relates to us, our aims and their achievement
3. It is executed brilliantly with the right message and right content
4. It connects well with consumers and places the the need and the product in their daily lives flawlessly
5. The visuals and the background music further bind the viewers and helps the ad stand out in the clutter space of advertising