In: Finance
a) One of the most frequently used communication process model
is the AIDA model. Briefly explain how marketers use this model
effectively in taking the consumer through an effective
communication process in order to achieve its communication
objectives. 25 Marks
b) Differentiate between advertising and product placement with
examples.
a)
Well, AIDA model is one of the most important communication model in marketing.
AIDA stands for Awareness, Interest, Desire, Action. Which basically deals with communicating with the potential customers at different stages.
ATTENTION STAGE: Company should plan to think about the strategies to convert the attention of customers towards a particular brand. A brand awareness should be created.( Running a social media campaign is an example)
INTEREST STAGE: In this stage marketer should generate likings about the brand through varied activities like testimonials, websites, customer network etc.( eg. providing a sample free service to customers to generate interest through direct mails)
DESIRE STAGE: Marketer should develop an emotional connection with the brand by personnel interaction, online chats etc. ( eg. Replying to twitter feeds of customer is an example)
ACTION STAGE: Create maximum interaction possible which would push the customers to purchase the product by sending emails, or through making calls or even downloading the brouchure.( eg. call to book or call to reserve etc)
b)
Product placement is actually a advertising technique which is an indirect form of advertisement which is mainly done through telivision shows or movies. Company will pay certain amount for placing the product in a show.
Example, If we observe americas got talent, we could see the juice cups infront of the judges which is readable, which is actually a type of product placement.
Advertsing is a marketing technique is used to sell products by paying for a particular space in televisions and social medias. Example, Advertisements through television ads, facebooks etc which are direct.