Functions of Advertising Media
Advertising media has become a common need of every business organization today, and without advertising media, nobody can think about surviving in the market. There is no doubt about it that “Advertising” is a great force of promotions now regarded as an effective and profitable investment.
As the advertising is now being carried on scientific lines, the functions of advertising agencies have considerably increased. The advertising agency is a firm which specializes in creating advertising and also making research work in the market. The following are the main functions of Advertising Agency:
- Determination of Market
The advertising agency makes a study of the demand for the client’s products in the market. It takes into consideration the class of buyers, the time of purchase made in bulk or in small quantities.
- Analysis of Potential Market
The advertising agency carefully analysis the present position of the client’s product and the prospectus of its growth is the future. Market research is thus an important part of the whole procedure of advertisement.
- Distribution Factors
The advertising agency has also need to guide the client in the selection of the channel distribution for the sale of the product. For instance, it may recommend an opening of a factory’s, sales branch, or appointment of agents or wholesale distributors for the marketing of product.
- Media of Advertisement
It has also to determine the advertising media, which is most suited for the promotion of sale and also costs less per unit to the client.
Formulation of Plan
The advertising agency also formulates plans on scientific lines and presents it to the client for his guidance and implementation.
- Execution of the Plan
The advertising agency provides all possible help in the development and execution of the plan.
- Preparing the Advertising Copy
The advertising agency prepares the advertising copy, taking into consideration human desire, the tone of advertising, etc. It selects the best medium of advertisement for the firm’s product. It is called keying in business terminology.
- Close Cooperation
The agency keeps a close touch with the client and constantly examines the results from the advertising campaign. It is called a follow-up system.
- Agency Commission
The advertising agency receives a commission for the services it renders in promoting the sales of his client by preparing an effective advertisement, buying space and conducting the advertising result.