Question

In advertising, Identify CURRENT ADS that represent these three CONSUMER-ORIENTED strategic approaches. Briefly explain your selections and why they fall into these categories.

Brand Image

Lifestyle

Attitude

Answer 1

Introduction

In microeconomics, the role of advertising over the years is ever increasing. This is because companies and firms have realized the importance of reaching out to the customers to understand their needs, wants and desires in a better manner and then translate this into long term success and goodwill for the organization respectively.

Over the years, advertising and its impact have been widely realized in the industry and micro economic researches have been done to realize this. The studies have indicated that advertising is a necessary expense in all sorts of industries alike and attracts brand value for a company.

For any company to survive and thrive, it is important for it to connect to the target audience and this can be done through various modes. Modern day advertising takes the help of social media tools, digital marketing and conventional methods such as print and television to achieve success.

Case Specifics:-

For the purpose of the case study, we are analyzing the impact of advertising into 3 broad categories and the current advertisement examples that cater to each one of the same.

Brand Image:-

Over the years, some companies have retained their brand value because of the superior image that they tend to have in the minds of the consumers.

Take into consideration the simple example of Apple. Apple advertises in the most subtle way, that the products on offer are simply the best. This has accounted for most of its sales and an endless number of brand loyal customers who have preferred the brand over any other manufacturer of Smartphones, Tablets, Personal Computing Devices and add-on's such as the IPod etc.

The brand image is such that the very logo symbols a selection of superior product over others. And as the line says "If you don't have an iPhone you simply don’t have an iPhone" highlights how the company has created an image that has reflected throughout

Lifestyle:-

These kinds of advertisements are extremely common in the real estate sector. Take the example of Trump Towers and their advertising promising nothing but the best lifestyle with grand entrances, party halls, gym etc. along with the flats that are sold to the consumer.

It helps them in easier association and in microeconomic terms can largely help in portraying a company’s product in a better overall packaged manner hence helping in driving sales.

Lifestyle advertising has a big impact on the psychological thinking of people respectively.

Attitude:-

Over a period of time, companies also try to mound an attitude of a customer towards its products via advertisements. This is evident in advertisements of companies like Amway and other social causes which are taken up by companies such as ITC.

These translate into the broader micro economic concepts of social accountability and are also directed at other behaviors such as machoism, feminism etc. in case of specific advertisement delivery.

The purpose however, of this kind of advertising is simple to reflect upon an attitude in the consumers mind and harness it accordingly.

Please feel free to ask your doubts in the comments section