Marketing Education, Part 4
Question 1: Describe the advantages and disadvantages of magazine advertising.
Answer 1: Many larger companies place a great deal of advertising in magazines. They appreciate the ability to select their audience by advertising only in certain publications. Magazine ads also tend to look glamorous, and expensive photography will look much better in this format than in a newspaper. Magazine ads also have a longer life than newspaper ads, and therefore have a greater chance of lodging in the public imagination. On the other hand, magazine ads are relatively inflexible; an ineffective campaign cannot be removed from the pages of a magazine in which it has already been published. Also, depending on the prestige and readership of the publication, magazine advertising can be quite expensive.
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Question 2: Describe the advantages and disadvantages of direct mail advertising.
Answer 2: Direct mail advertising is when a company sends brochures or leaflets directly to the homes of potential customers. It is easy to be selective when using direct mail, so businesses know exactly who will be seeing their ads. There is also a great deal of flexibility in this form of promotion; businesses can remake their ads as often as they please. Direct mail ads can be created and sent in a very brief period. Furthermore, direct mail is a great venue for businesses to go into great detail about their products or services. Of course, direct mail is only as effective as the company’s mailing list. Other disadvantages of direct mail are general public distrust of so-called “junk” mail, and the rather high cost of direct mail per customer.
Question 3: Explain the promotional mix.
Answer 3: Marketing executives are always trying to find the appropriate promotional mix: that is, the combination of promotional techniques that is right for their product. In doing so, marketers must consider the amount of money available for promotion, the nature of the market, and the nature of the product. The amount of money that a company has for advertising and other sales promotions depends on a number of factors. Typically, a small company will spend a greater percentage of each sales dollar on promotion, though a larger company may spend more altogether. New products will require more promotion. Many companies base promotion funds on the success of the product, and some allocate a specific amount of promotional money for every unit that is produced. The best way to determine promotion allocation is to make specific goals and plans to reach those goals.
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