Question

1.   What is the difference between institutional and product advertising. Give an example of each?

2.   What is the difference between competitive advertising and comparative advertising? Give an example of each.

3. What is a target audience? In 2017 many companies launched the “fidget spinner”. What in your opinion would be the target audience for that product and why?

4. What is public relations? Whom can an organization reach through public relations?

5. How do organizations use public relations tools? Give several examples that you have observed recently.

Answer 1

Answer 1:- Product advertising is when your advertising efforts are focused on promoting a particular product or service. Meanwhile, international advertising is when you use advertisements to promote your company, instead of a particular product or service

Answer 2:- Competitive advertising: advertising designed to influence the demand for a specific brand. Firms use competitive or brand advertising when a product enters the growth phase of the product lifecycle and other companies begin to enter the marketplace

Comparative advertising: advertising that compares two or more specifically named or shown competing brands on one or more specific attributes. Products experiencing slow growth or those entering the marketplace against strong competitors are more likely to employ comparative claims in their advertising.

Answer 3:- Target audience is the collection of those customers whom the company is willing to promote its products and services. All the marketing activities are directed to this group of customers.

The fidget spinner is a product that caused a craze in the toy industry. The fidget spinner is a toy that is marketed towards people who “fidget”, or like to play with toys. Something that’s great about the market of the fidget spinner is that it can be used my anybody. There is no exact market that is targeted by the marketing managers of this product. The benefits of the fidget spin-ner provide individuals to take the edge off with this device. There are opportunities with this market because it’s still thriving and many people are yearning for more products that suit fidgeting. Lots of children these days are used to playing MA video games, or apps on their smartphones. With the fidget spinner, children can find every day joy without using electronic devices

Answer 4:- Public relation is a helpful component in the business that is used to evaluate and monitor the relationship between public and organization. The term public includes all the stakeholders that have an impact on the business operations. This tool mainly used to enhance communication between organization and the public. All other important activities such as employee retention, crisis management, customer relations are also the functions of public relation.

According to Public Relation Society of America (PRSA), “Public relations help an organization and its publics adapt mutually to each other.”

A definition of public relation is given by Jefkin in 1994 that is,” Public relations consist of all forms of communication outwards and inwards, between an organization and its publics forthe purpose of achieving specific objectives concerning mutual understanding.”

A public is any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives. We can identify seven types of publics. Financial publics influence the company's ability to obtain funds. Media publics carry news, features, and editorial opinions. Government publics develop public policy to guide commerce with sets of laws and regulations. Citizen-action publics include consumer, minority, and environmental groups. Local publics include neighborhood residents and community organizations. The general public has concerns about the company's products and actions. Internal publics include workers, managers, volunteers, and the board of directors. Marketing can treat these influential publics like consumer markets, creating marketing plans to build relationships and elicit a desired response