The advent of second generation economic reforms came with the mushrooming growth of several business enterprises, increasing consumer options. However emergence of innumerable brand created a clutter in the market. . Thus advertising and PR agency creates a market awareness. However, the horizons of PR are still unexplored and under-used. However PR raises the big debate whether it has more credence and reliability associated as compared to advertisement.
An effective media strategy strives to build strong brands to achieve expected returns. It has become an extremely challenging job for every individual and every company in present competitive environment. To achieve this goal marketing executives employ 'advertising strategy.' Though for most of the marketers or manufacturers, advertising is not turning out to be as productive to their expectation. It has been noticed in a survey that 83 percent of companies are not satisfied with the results they receives from their advertising campaigns. Advertising, most of the times, does not work well due to the scepticism, cluttering of products, high cost, when an organization is operating in a huge and open market.
On the other hand Public relations, is far better than advertising both in terms of spending as well as delivering the message. The reason for which PR is considered more effective in accomplishing the market goals as compared to advertising because it is driven by the 'third-party endorsement. Public relation has the element of credibility, clarity and cost effective.
THE BIG FIGHT – AD Vs PR
Advertising isn't working very well because advertising is self-promotion. People are very skeptical of ads. The source of all those nice things said about your company and its products is you, and people just don't believe it. Another reason why advertising is not working very well these days is because of "clutter", which is the magnitude of commercial messages being delivered within a short period of time. There are just too many messages to absorb, and clutter is getting worse every year. In addition, advertising is very expensive, especially if you have a big market to cover.
If you were to find a marketing action that worked much better than advertising at a much lower cost, you would have a huge competitive advantage.
Prospects believe third-party endorsements, and in marketing "belief" is everything. If prospects don't believe your message, you will waste huge amounts of time and money trying to get your message across. Third-party endorsements are believed because the third party has nothing to gain. They are only trying to help. They are either an expert on the subject who has already investigated your product, or they own your product. The advantage to you as the person who does not own the product, or who does not have time to investigate your product, is, with no cash outlay and no risk, you get the benefit of the experience of others.
PR agencies thereby have a definite and huge potential to cater the existing needs of Indian contemporary market in the coming times. PR agencies by and large are not only accountable for brand building but also depict a nice as well as the real image of brands. This accounts for the credibility and sustainability factor which the glitzy and glamorous world of advertisement fails to deliver. The future might also witness a progressive shift of legally binding protocols for every corporate house to tie-up with PRCI (Public Relations Council of India) certified agencies in order to ensure a credible corporate existence of the clients in the market.
Public Relations have a significant role to play as world trade, free market systems, trading blocks, and industrialized, industrializing, and subsistence economies attempt to reposition themselves regionally and internationally, a new energetic and vibrant ethos permeates world order. At the onset of the third millennium, PR promises actualize and propagate new visions, directions, and challenges of new products and services. With this has come an overwhelming responsibility on PR as a part of strategic communication in accomplishing the goals and dreams of nations and its peoples.
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