Advertising on a Budget
Businesses today are becoming reliant on advertising more than ever. This really is no surprise. In the last few decades, the focus of businesses have shifted from production to marketing. In the past, production only had to focus on quality and cost. The principle being that a product with good quality and reasonable cost is going to attract customers. This is not the case now. Market research are constantly being performed to foresee future demands. A product is designed according to the predicted preference of consumers. This helps minimize risk. Marketing managers have more influence over product designs than production managers. Without a marketing plan, any business will struggle to survive.
An important aspect of marketing is advertising. The focus of advertising is to attract the attention of potential customers. There are several mediums of advertising. Television, radio, newspapers and magazines has helped businesses reach a wider audience. However, these traditional advertising mediums are quite expensive. Aside from radio which have declined in popularity due to the rise of other communication technology, most small or new businesses cannot afford these methods of advertising. Advertising on a budget requires business owners or marketing managers to look into modern and some old methods for advertisement. Flags and banners, internet and human billboards are all worth considering. As the technology has advanced, more people are gaining access to computers and the internet. The billions of people who are using the internet makes online marketing a very effective method of getting attention for products and services at reasonable cost. Older advertising methods such as the posting of banners and flags are perfect for local advertising. These are simple yet effective methods for advertising.
