Creative without strategy is called 'art’. Creative with strategy is called 'advertising’.
Jef I. Richards
Derived from the Latin word ‘advertere’, which means ‘to turn towards‘, the term ‘advertising’ in the literal sense means ‘to turn people’s attention towards a product or service through media’. In the context of marketing, advertising is seen as a means of communication through which a business product or service is sold or promoted. Not only a promotional tool, advertising can be seen as a significant catalyst to understand market trends and reach out to people using the most appropriate medium to ensure maximum visibility of the product or service.
Advertising is generally done through various media. Some of them are newspapers, radio, television, billboards, mailers and digital billboards. However, the choice and selection of the advertising medium largely depend on the product and the impact it can have on the target audience.
On the global front, advertising has ushered a new era of economic progress. The impact of advertising directly influences the company’s image and its product’s sales. Being persuasive and compelling in nature, it helps in creating a positive image of the product or service in the mind of the consumer. This ultimately leads to an increase in sales and revenues of the company. Thus, it won’t be wrong to say that advertising not only plays a crucial role in moulding public perception about the product and the company as a whole but also plays a dominant role in the business marketing structure.
The advertising industry has catapulted branding as a big weapon of marketing towards achieving credibility in the global market and has put consumers on the vantage point to ensure wise decision-making at their end. We are surviving in a world dominated by billboards, digital promotions and exquisite PR strategies, wherein multi-billion budgets are assigned to advertisers to achieve promotional goals. International corporations and conglomerates have pinned their hopes and aspirations on the art of advertising.
According to a report presented by eMarketer, “Advertisers across the globe have spent around $592.43 billion in the year 2015. Currently, the top five spenders in each advertising category—total paid media, digital and mobile—are the US, China, Japan, Germany and the UK. While the US outshines other countries in terms of complete advertising costs, emerging economies in Asia Pacific like China are also performing at par excellence.”
A major part of advertising has digitalised, functioning on various platforms such as computers, tablets and mobiles. The power of the mobile technology has enabled advertisements and promotions to be displayed on the screens round the clock. As the advertising techniques bank on the magnanimity of the Internet, it is surely going to become the future of the advertising industry. According to eMarketer, “Mobile’s share of worldwide digital advertising will surpass 50% in 2017.”
World of Business aims to cover the vast sector of advertising at a global level. The magazine features articles, interviews, market reports, experts’ analyses, etc. based on their relevance in the current scenario and provides a wider scope of understanding of the business market world. Through the media coverage of the advertising sector, the magazine aims to equip its readers with niche market knowledge, substantiated with proper facts and figures.