Project On The Icici Banks On Advertisment

PROJECT

ON

THE

ICICI

BANKS

ON

ADVERTISMENT: Introduction: People no longer buy shoes to keep their feet warm and dry. They buy them because of the way the shoes make them feel masculine, feminine, rugged, different, sophisticated, young, glamorous, "in" buying shoes has become an emotional

experience

.

Our

business

now

is

selling

excitement rather than shoes. - Francis C. Rooney Modern marketing calls for more than developing a good product it attractively and making it accessible to target customers. Companies must also communicate with their present

and

potential

customers.

Every

company

is

inevitably cast into the role of communicator and promoter. What is communicated however should not be left to change.

To

advertising

communicate agencies

to

effectively; develop

companies

effective

ads;

hire sales

promotion specialists to design sales incentive programmes and public relations firms to develop the corporate image. 1 | Page

They

train

their

sales

people

to

be

friendly

and

knowledgeable. For most companies, the question is not whether to communicate but rather what to say, to whom.Promotion

influences

demand

by

communicating

product and company message to the market. A promotion Techniques involves the co-ordination of all communication efforts

aimed

at

a

specific

audience;

consumer

and

shareholder. The most critical promotional question is the proper mix of advertising, personal selling, sales promotion and publicity. The promotion mix is usually co-ordinate on a campaign basis, taking the campaign may efforts include a total campaign with one unified theme. All promotion messages tie in to this theme in one way or the the, rather than conflicting with it.

Vision:  To ensure most cost effective power for sustained growth of India.  To provide clean and green power for secured future of countrymen.  To retain leadership position of the organisation in Hydro Power generation, while working with  dedication and innovation in every project we undertake.  To maintain continuous pursuit for cost effectiveness, enhanced productivity for ensuring financial health  of the organization, to take care of stakeholders’aspirations continuously. 2 | Page

 To be a technology driven, transparent organization, ensuring dignity and respect for its team members.  To inculcate value system all cross the organization for ensuring trustworthy relationship with its  constitutent associates & stakeholders.  To continuously upgrade & update knowledge & skill set of its human resources.  To be socially responsible through community development by leveraging resources and knowledge base. 

To achieve excellence in every activity we undertake.

ADVERTISING: The word ‘Advertising’ has its origin from a Latin word ‘Adventure’ which means to turn to. The dictionary meaning of the word is ‘to announce publicity or to give public concerned to a specific thing which has been announced by the advertiser publicity in order to inform and influence them with the ideas which the advertisement carries. In business world the terms in mainly used with reference to selling the product of the concern. The advertising, as Jones defines it is "a sort of machine made mass production method of selling which supplements the voice and personality of the individual salesman, such as manufacturing the machine supplements the hands of the craftsman." It is thus a process of buying/sponsor/identified media space or time in order to promote a product or an 3 | Page

idea. From a careful scrutiny of the above definition, the following points emerge. Advertising is a paid form and hence commercial in nature. This any sponsored communication designed to influence buyer behavior advertising. Advertising is non-personal. Unlike personal selling, advertising is done in a non-personal manner through intermediaries or media whatever the form of advertisement (Spoken, written or visual). It is directed at a mass audience and not directed at the individual as in personal selling. Advertising promotes idea, goods and services. Although most advertising is designed to help sell goods, it is being used increasingly to further public interest goals. Advertising is identifiable with its sponsoring authority and advertiser. It discloses or identifies the source of opinions and ideas.

Advertising thus is: 1. Impersonal 2. A communication of ideas. 3. Aimed at mass audience 4. By a paying sponsor. The two forms of mass communication that are something confused with advertising are publicity and propaganda. If we eliminate the elements of the "paying sponsor" (The paid requirement) we would have the element of publicity left: 4 | Page

For publicity is technically speaking, advertisement without payment

in

a

requirement

of

similar an

manner.

"identified

If

we

sponsor",

eliminate the

the

resulting

communication is propagandistic. It is important for us to emphasize that advertising may involve the communication of ideas or goods of service. We are all aware that advertising attempts to sell goods and services. But we may overlook the more important fact that it

often

sells

ideas.

Advertising

may

persuade

with

information; it may persuade with emotion: more frequently, it endeavors to persuade with some mixture of both.

The types of advertise media used by icici bank: (1) Electronic Media Advertisers use two types of media to reach target consumers over the airwaves; radio or T.V.

(A) Radio: Advertisers using the medium of radio may also be classified as National or Local advertisers. The radio is a prominent vehicle of advertising in our country and accounts for a large sum of the total advertising budget. The radio serves principally local rather than national or large regional

5 | Page

markets. Many small advertisers use the radio. So do some large organizations. When T.V. became a factor in the advertising scene, some industry observers felt that radio advertising might become insignificant or even disappear. This has not been so, for radio operators have responded to the challenge by offering programmers that features music etc.

(B) Television: Late in India, a growing class of advertising media has been the TV. In our country, commercial advertising on TV is severely limited because broadcast timings are only in the evenings. The TV is a unique combination timing of sight and sound and achieves a deeper impact than the other media do. This is particularly advantageous for advertisers whose product require demonstration. TV advertising offers advantage of impact, mass coverage, repetition, flexibility and prestigious. In our country not everyone has a TV set; therefore it does not reach everyone. Moreover, in rural India where 76.31% of our population lives. There are hardly any TV sets, except at the community centers where electricity is available. Moreover, TV programmers in our country do not offer much selectivity. The translation is limited; any centers do not have TV towers. TV appeals to both the senses of sound and of sight. As a result 6 | Page

is

combines

the

two

to

produce

high-impact

commercials. Finally, the fact that product or service is promoted on TV may build a prestigious image of the product and its sponsor. The pleasure derived from watching TV is at least potentially transferable to the advertising message delivered through the medium.

(ii) Print Media The print media carry their massages entirely through the visual mode. These media consist of newspapers, magazines and direct mail.

(A) Newspaper: A sizable share of the total advertising budget is spent on advertising in newspapers. Newspapers in our country 7 | Page

virtually reach most of the homes in the cities. Since newspapers are local, marketers can easily use them to reach particular markets. This selectivity is easily rigorous. Some are in the twelve-hour range. From the viewpoint of the advertiser, newspaper offers several advantage, they are local in content and appeal and provide opportunity for direct communication between a product and its local dealers or distributors. Because newspapers supply news, they offer an atmosphere of factual information and of currency that may be favourable for some advertising situations.

8 | Page

(B) Magazines: Magazines are also mean of reaching different market, both original and matinal and of general and specific interest. An organization may approach national markets through such publication as Business India, Famina, Sports week, India Today, Business World and Film fare. Some marketers divide their market on the basis of such variable as age, educational level and interest magazines. Magazines are divided into those parts that serve business, industrial consumers, ladies, sports etc. The diversity of magazines is tremendous. Some offer news or together "General Interest" content to huge audience. Others are highly specialized, technical or even exotic. In general, magazines offer advertiser

the

opportunity

to

reach

highly

selective

audience. The primary advantage of magazine advertising is selectivity of market targets; quantity reproduction long life; the prestige associated with some magazines; and the extra

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service

offered

by

many

publications.

(iii) OUTDOOR AND TRANSIT MEDIA (A) Outdoor Advertising: Outdoor advertising involves the use of sign and bill-boards, posters or displays (such as those that appear on a building’s wall) and electric spectacular (large, illuminated, sometime animated sign and display). The marketers may purchase billboards on the basis of showings. A showing indicates the percentage of the total population of a particular geographic area that will be exposed to it during one month period. The highest showing is 100. Here the 10 | P a g e

number of billboards is would attract approximately 50% of the local population about 20 times during a month. Sings are usually smaller than billboards and are erected and maintained by the marketer rather than by the advertising media.This form of advertising has the advantage of communication quick and simply ideas of repetition and of the ability to promote products that are available for sales.

(B) Transport Advertising: Transport advertising appears on the inside or outside of taxis, buses, railways and other modes of passenger transportation. Marketers may use transit advertisement to attain high exposure to particular groups consumers on theory way to and from work and tourists. Repeat exposure is possible for a majority of the people in our country use public transport basis. Transport advertising is useful in reaching consumers at an advantageous point which they 11 | P a g e

are embarking on a shopping trip. This medium is a low cost medium.

SALES PROMOTION According to the American Marketing Association, Sales Promotion consists of those marketing activities other than personal advertising and publicity that stimulate consumer purchasing and dealer effectiveness, such as displays shows and expositions, demonstration and various non-recurrent selling efforts not in the ordinary routine. Sales promotion activities are impersonal and usually nonrecurring and are directed at the ultimate consumers, industrial consumers and middlemen. These activities tend to supplement the advertising and personal selling efforts. Examples of sales promotion are free product samples,

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trading stamps, store displays, premiums, coupons and trade shows.

PUBLICITY Publicity is a means of promoting the mass market and is similar to advertising, except that it is free, is found in the editorial portion of news media and pertains to newsworthy events. The most common type of publicity are news release (also know as press release), photographs and feature stories. Marketers have less control over the nature of the publicity that their organization and products receive than they have over their advertising, personal selling and sales promotions messages. Upon receiving a news release, for instance, the editor or broadcast station programme director may choose to throw the release in the waste paper basket, change the hording, or print or broadcast it in the original form. The disposition of the news release is entirely in the hands of the media and cannot be dictated by the marketer.

PERSONAL SELLING Personal selling consists of persons to communication between the sales persons and their prospects. Unlike advertising, it involves personal interactions between the sources and the destination. Advertising aims at grouping the shotgun approach, while personal selling aims at individuals the right approach. Sales persons are in the 13 | P a g e

position to tailor their messages according to the unique characteristics of each prospect. Further, by observing and listening, sales persons receive immediate feedback on the extent to which their messages are getting across. If feedback indicates that the message is not getting across, the sales person may quickly adjust it or the method of its presentation.

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PUBLIC RELATIONS Marketers engage in public relations in order to develop a favorable image of their organization and products join the eyes of the public. They direct this activity to parties other than target consumers. These "other" include the public at large labour unions, the press and environmental groups. Public relations activities include sponsoring, lobbying and using promotion message to persuade members of the public to take up a desired position. The term public relations refers to a firm's communication and relationships with the various sections of the public. These sections 15 | P a g e

include the organization customers, suppliers, share holders, employees, the government, the general public and the society in which the organization operates.

ADVERTISING EFFECTIVENESS: Advertising is an art not a science. Effectiveness of which cannot be measured with a mathematical or empirical formula some advertisers argue that advertising efforts go to waste, but every advertiser is keenly interested in measuring or in evaluation of ad. effectiveness. Testing for the effectiveness of ad. will lead advertisement testing must be done either before or after the ad has done in the media. It is of two types, pretesting which is done before the ad. has been launched and one is referred to as cost testing which is done before the ad. has been launched and one is referred to as cost testing which is done after launching the advertising campaign. The basic purpose of advertising effectiveness is to avoid costly mistakes, to predict the relative strength of alternative strength of alternative advertising strategies and to increase their efficiency.

Sales-Effect: Communication-effect advertising research helps advertisers assess advertising's communication effects but reveals little about its sales impact. What sales are generated by an ad that

increases

brand

awareness

by

20%

and

brand

preference by 10%? Advertising's sales effect is generally 16 | P a g e

harder to measure than its communication effect. Sales are influenced by many factors besides advertising, such as the product's

features,

price,

availability

and

competitors'

actions.

PROGRESS TESTS: These assess the various stages of buyer awareness, preference, buying intention and the actual purchase in relation to ad. effort. They are called sales effect tests.

Measuring Sales Response to Advertising: Though increase in sales in the true measure of advertising effectiveness, in reality it is difficult to measure the increase that is due to a particular advertisement. It is rather difficult to correlate the response in sales with the advertising programme. However, a few methods have ben discalled in the following paragraphs which are generally used to measure the sales response to advertising.

Sales Results Tests :  The additional sales generated by the ads are recorded, taking several routes.  Past Sales before the ad and sales after the ad are noted. The difference is attributed to ad impact.

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

Controlled Experiment: In experimental market, any one element of marketing mix is changed. It is compared with the sales of another similar market. The element's

presence

observance

is

a

reason

for

difference in sales.  Instead of two markets, the experiment can be carried on the two groups of consumers.

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