Business Strategies For Advertisers Business Strategies For Advertisers

Business strategies are usually devised when an organisation is setup; it can be revised as and when required. The strategies affect daily operations and growth of the organisation. Advertisers need to have a strategy that can help their clients, a consistent message to customers and vendors. An advertiser makes ads for clients who have different levels of understanding of the product or service that is being advertised. Some customers might be new and some old, depending on the audience the business strategy needs to be made. There are various strategies that combine to create a holistic business strategy.

Competitive strategies are a type, where the advertiser needs to promote the product by selling its unique selling proposition. A competitive advantage needs to be created, the products advantages need to be explained to the target audience. A product that is market leader would have to offer some additional benefit to edge so that they can remain in the same position. Products must be differentiated in the market, there are several products of the same category, the advertiser needs to make their clients product stand out.

Advertising for new customers is very different; expanding market reach is a business strategy it helps in diversifying and building variety of target markets. It helps in increasing revenue, larger number of customers will help bettering a companies revenue streams.

Cost leadership allows a company to have the lowest production costs. Companies usually want to have profits this was done either by increasing sales and decreasing prices, now certain ad campaigns are a combination of both the sales are increased by offering two for the price of one. These offers usually help in the buying decisions of a consumer. Pricing strategies are used by companies, skimming is a commonly used technique by brands. Initially when a product is released the price is set high after sometime the price is reduced, clients usually approach an advertiser to advertise their product or service in a defined target market. Bundled price is another strategy that advertisers use, here product categories are combined for a uniform price.

Targeting strategies are very important for advertisers; the message or the advertisement needs to be marketed to a specific target audience. Targeting depends on the kind of product or service that is being advertised. The demographic and psychographic factors need to be studied. Usually a pilot study is done before the advertisement is sent across to various mediums. Market research helps in making a good advertisement strategy.

The right mediums of communication need to be chosen for each product or service category. Certain products need to be advertised in particular mediums, older individuals would prefer to see advertisements in a newspaper while a younger generation would prefer online ads. The advertiser needs to make a strategy, which helps in identifying the right medium for the product or service.

Creating the media plan takes a lot of time; it is an integral part of the advertisers business strategy. This plan explains the advertising strategies, the objectives and goals and the responsibilities of each team within the organisation.

Advertisers need to make a business strategy that goes inline with the product or service that they are advertising. The client might have an overall business strategy for their product or service, the advertiser needs to understand that and make an advertising business strategy of their own. This strategy explains the identified target markets, competitive strategy and pricing strategies of the product. The creation of the creative brief is the next step. Choosing the right medium, explaining objectives and goals of the advertisement and targeting the audience, in a gist are the important areas of business strategies.

by Rodney Wincaster
References and Bibliography
MBA & Company can help you create a competitive <a href="http://www.mbaandco.com/projects/strategy/business-strategy">business strategy</a>. They have a network of <a href="http://www.mbaandco.com/">MBA</a> associates who have several years of experience to help you come up with a holistic strategy for your organisation. 
Rated:NR/0 Votes
2 Views
Add To My Article Reading List
Add To My Article Reading List
Print Article
Print
More Article By Rodney Wincaster
More Article by Rodney Wincaster
Share
More Articles From Management
More Articles From Management
Related Articles and Readings
Is Home Business Entrepreneurship for You By: Arman Rahman
For most people, starting a Home Business is a way to realise their financial dreams. With the Home Business, the entrepreneur hopes to be finally free from the routine and pains of having a job.Like any other business, there will always be a period of time (normally in the beginning) ...
Survey Yourself Before Going Into Business By: James Little
1. Why should there be anyone would do business with you?This could be the very first question that you must ask yourself before anything else. You got to demand yourself to an answer to this. Why the heck on earth would anybody pay for this ?Junk? you're selling? Yup, ?Junk?, ...
Business Is Business By: Darryl Robinson
A legitimate business of your own, Ahhh? the sweet smell of success! One can almost taste it, yet it seems to so many that owning or prospering in your own business, is a dream or an aspiration that is just beyond reach.And without the proper preparation, they quickly decide to ...
The Business Chiropractor - Get Your Business Spine in Line (Part 1 of 3) By: Patrick Daugherty
Have you ever felt like your heart just wasn't in something that you did I can remember when I was a teenager and my dad told me I had to wash the car when I already had plans that day with my ...
Business VOIP By: Charles Fuchs
Business VOIP offers advantages over regular telephone service that allow business more freedom and savings than ever before. Today's technology driven society predicts that if you do not have business VOIP, you will soon. However, before you jump on the business VOIP bandwagon, you should know what business ...
The information provided in this article and/or the comments is the sole responsibility of their respective authors and does not necessarily reflect the opinion of ezinepost.com. ezinepost.com  does not endorse any article and/or comments published by our web users unless otherwise noted. 

Member Panel

login to submit articles and more

StatisticsEZINEPOST.COM

  • » Active Categories: 419
  • » Active Articles:252470
  • » Active Authors:32056
  • » Active Members: 38202
  • » Statistics Updated:
    - Wed Jan 15th, 2020 03:31PM EST