Question

If you plan on advertising,Are you the no-frills, low-cost option for budget-conscious shoppers? Or a premium product that is superior to the others in a keyway? Or are you differentiating yourself in another way — being faster, more convenient, better for the environment, locally sourced?

Answer 1

Advertising is an essential tool for introducing the product to the customers and attracting and convincing them to buy it. Right advertising plays a vital role in increasing the sales of the product and wrong advertising can lead to a failure of the product in the market. The type of advertising used depends on the product and its use. A product used for the daily household will be bought by homemakers who are more budget-conscious, hence the no-frills, low-cost option can convince them by only attracting them with the lesser price of the product.

A premium product that can be differentiated from others can be liked by customers who prefer quality over price and look for the best deal in the market. They will look for products which can give them a premium quality better than others hence advertising of such products can be done in that way. Similarly, making a choice of advertising a product based on its differentiation such as being faster, more convenient, better for the environment, locally sourced depends on the product and the target audience to convince for buying the product. The decision cannot be made based on our own thoughts and ideas but depend more on the external factors mentioned above.