Advertising

Emergingtrends have a significant influence on businesses. They can eitherhave a positive or negative impact on entrepreneurs. For a company toprosper especially on advertising, it has to cope with the trendswhether negative or positive. The paper will look to address some ofthe megatrends that have positive effects on advertisers, the mostchallenging to implement, and the most influential on customerdecisions.

Megatrendseffect on advertisers

Advancementof the advertising industry from simple promotional to the primarybusiness model is a megatrend that has positive impacts. industries are currently doing business by selling their products andnot only advertising them. Platforms such as Google and Facebookusually gain when customers click on the adverts [ CITATION Lis16 l 1033 ].

Themigration to extensive mobile usage is another trend. Many peoplehave resorted to spending more time on mobiles than PCs. As perstatistics, the mobile ad revenues double on a yearly basis. In 2014,it had roughly $40 billion in revenues, and it was prospected to riseby around 60% in 2015. In that regard, the Avenue is seen as thefastest growing category. Advertisers can cover wider grounds onmobile platforms than PCs [ CITATION Jon14 l 1033 ].

Socialmedia advertising has emerged as the best option in the currentbusiness globe. It has traversed through countries tremendously.Facebook captures around 66 percent of the worldwide social media.Social media market is bound to grow from $24 billion in 2015 toroughly $36 billion by 2017. Adoption and extension of social mediaadvertising is a positive thing due to its ease of operation. through social media is faster, reaches more people andis way much cheaper as compared to other media channels such astelevisions [ CITATION Lis16 l 1033 ].

Movingfrom a promotional setting to greater business transactions is quitechallenging. One of the primary concerns is security. Thoughimplementation may sound much profitable, setting up platforms toprotect the customers may be quite hard. Hackers and infiltrators arecontinuously growing hence posing significant dangers to customers’privacy. In that respect, internet transactions are derailed byhackers [ CITATION Jam15 l 1033 ].

Anothertrend that is continuously growing in the general population is themovement from “melting pot” to “salad-bowl.” People aremigrating from a clearer or collective identity to separate or ratherdistinctive one. Businesses are continuously using diverse platformsto reach their customers. For instance, they utilize differentwebsites even though the products are similar. In other words, eachcompany wants to use its unique way to reach customers. Thecustomers, on the other hand, are forced to subscribe to differentsites to acquire products. Customers also want to look unique. Thoughit is a progressive trend, satisfying all parties with equity isquite hard [ CITATION Jam15 l 1033 ].

Healthconcerns continue to impact on consumer food purchase decisions. Thepattern requires customers to watch what they are eating anddrinking. Their desire for fresher products that lack additives hasdriven the development of healthier products. People are now moreconcerned with their health and only purchase foods they deem assafe. Such behaviors will push the companies to reconsider theirgoods and services to suit customer preferences [ CITATION Jam15 l 1033 ].

Onlinegrocery shopping has grown by a considerable margin. It is risingswiftly in developed countries even though they are still few. Foodapplications like &quothuman eating project&quot, &quotFooducate&quotamong others are championing responsible eating habits. They providea list of restaurants across the country as well as their reviews.Customers can then make decisions on which restaurant suits themwell. From the reviews provided, a consumer makes an informeddecision on a suitable hotel. Other applications also assistcustomers while they shop. For example, Fooducate calculates thenutritional value of each product and informs the customer. It alsooffers alternatives to that particular product. A client’spurchasing decision is down to the nutritional value as calculated bythe app [ CITATION Jam15 l 1033 ].

Environmentand sustainability are another core area. Companies that illustratesustainability of the ecosystem can bond well with the consumers. Theneed to restore the environment and fight the effects of climatechange is a common thing across the globe. People have recognized itis their responsibility to minimize and even eradicate the effects ofclimate change. It can be achieved by promoting change in themanufacturing sector. The choice of what to purchase can be motivatedby how the company promotes sustainability. Environmentalists in someareas have influenced the customers to desist from buying goods thatpromote environment degradation. A good example is the purchase ofivory-related products. Promoting such businesses has intensified theneed for ivory which results in more poaching and killing of wildanimals like elephants and rhinos [ CITATION Jam15 l 1033 ].

Consumerinformation has grown tremendously. As the above trends show,customers are now more aware of what they are purchasing. Informationmoves rapidly through social media among other platforms. If acompany tries to sell an unhealthy product, the information canspread through the social channels affecting customer decisions. Itmay be detrimental to the company but a positive thing for theconsumers. The brands may not all be international, but we have theworldwide consumer who may live in Australia, but shops from Germanyor Japan and is aware of the child labor problems at the tea gardensin Assam where his/her product comes from. A good example of howsocial media traverses at rapid speeds can be obtained from the 2014world cup finals in Brazil. When Germany beat Argentina in the lastmatch, there were more than 618,725 tweets per minute. In thatregard, customers are now more aware of what they are purchasing [ CITATION Jon14 l 1033 ].

References

Gregoire, J. (2014, October 8). 5 Challenges, Opportunities, and Imperatives for Retailers in 2015. Retrieved from 5 Challenges, Opportunities, and Imperatives for Retailers in 2015: http://www.cpcstrategy.com/blog/2014/10/state-of-retail-industry-trends-2015/

Lacy, L. (2016, January). Mobile Marketing Trends 2016: 50 Experts On The Future of Apps, Ads &amp Search. Retrieved from Mobile Marketing Trends 2016: 50 Experts On The Future of Apps, Ads &amp Search: http://www.linkdex.com/en-us/inked/mobile-marketing-trends-2016/

Wang, J. (2015, August 26). Four Mega-Trends Shaping The Market. Retrieved from Four Mega-Trends Shaping The Market: https://ark-invest.com/research/advertising-market

ADVERTISING 1

College

Perception refers to how information is interpreted and used inmaking decisions. On the other hand, a brand customarily refers tothe relationships and memories that convince consumers to prefer aparticular firm, product, or service. Brand perception can be definedas the manner in which consumers associate with a company and itsproducts (Martinez, 2012). The feelings of customers about a producthave a huge bearing on their purchasing decisions. In many instances,favorable brand perception occurs when the product is reliable,high-quality, and user-friendly (Martinez, 2012). Aside from thefunctional aspects, emotional leanings can also be used to judge acompany or product. Some brands have presented a front of leadership,quality, and strength. Therefore, consumers have little regard forfacts and other pertinent information. In the buyer’s mind, leadingbrands are somehow superior to other competitors even when theproducts are similar.

The perceptual process refers to the mental steps that a person usesto select, organize, and interpret information. This process consistsof several progressive steps that lead to the forming of perceptions.The first step concerns the presence of objects such as differentbrands and companies. The next step requires a person to makeobservations of the various brands present in the environment.Subsequently, consumers use their mental perceptions to selectdifferent brands. Selected brands are organized into groups based onpreference and relative utility (Möller, 2013). After theprospective client interprets the resultant perceptions, he thenmakes the final decision to purchase the brand.

Perceptual selection is governed by internal and external factors.The internal factors include personality, motivation, and experience.The traits and mannerisms of an individual influence how he selectsbrand perceptions. Furthermore, consumers are guided to makepurchasing decisions based on their current needs. In this regard,products that do not fulfill immediate needs are usually cast aside.Many consumers rely on experience to inform current brandperceptions. On the other hand, external factors consist of size,motion, intensity, contrast, repetition, novelty, and familiarity.

Brand perception can also result due to the word of mouth fromacquaintances and relatives. Consumers usually trust the judgment offriends and close family members. Moreover, intense advertising andpromotion campaigns can lead buyers to disregard other producers of acommodity or providers of a service. Social media has proven to be anexcellent site for interaction between companies and their clients(Möller, 2013). The proliferation of the Internet has contributedto fast sharing of information among different people. Therefore,positive reviews concerning a particular product or service can buildpositive perception. In some instances, consumers may remember theexemplary behavior of staff members during past walk-ins. Theambience of the business premises can also serve to build positivebrand perception (Martinez, 2012). Therefore, brand perception can beimagined as the intersection between what the brand promises oroffers and the experience from using the brand.

Perceptual distortions occur when consumers develop erroneous viewsabout a particular brand. Consumer research helps to identifyinstances of perceptual distortion for the case of underperformingbrands. An organization subjected to perceptual distortionsordinarily experiences low sales. Public scandals destroy a company’simage and lead to negative brand perception (Möller, 2013). In thisregard, some firms make public statements aimed at disassociatingthemselves from the unpopular actions of a particular employee. Sucha drastic measure is usually taken to safeguard against perceptualdistortions.

Stereotyping may occur where customers perpetuate false beliefs andperceptions about a product, service, or company. The halo effectrefers to where the general view of a product or brand determines thethoughts and feelings about the enterprise (Martinez, 2012).Consequently, consumers may attribute negative qualities to amanufacturer based on misconceptions about the brand. Moreover,projection occurs whereby consumers associate link their biased viewsand opinions to a brand. For example, a customer that dislikes sugarmay come to hate companies that manufacture the product. In otherinstances, self-fulfilling prophecy works such that a client’ssuppositions about a brand appear to be achieved (Martinez, 2012).Strongly held beliefs about particular brands and products may leadbuyers to develop firm perceptions.

A company can effectively deal with perceptual distortions bybuilding advertising campaigns aimed at altering the perception. Itis critical for a firm to have an in-depth understanding of howconsumers perceive not only its products but also those ofcompetitors. Examining the factors that attract consumers to a brandwould help to establish points of weakness. Any identified weaknessescould be used as a basis for rebuilding or launching the brand(Martinez, 2012). For example, changing a product’s name couldrefresh it in the minds of consumers and hence lead to an increase inrevenues. Consequently, a company does not need to change the actualproduct (Möller, 2013). The unique components that lead to productdifferentiation should be retained. Besides, understanding thepublic’s perceptual distortions presents better benefits thandeveloping a new product or branding strategy.

Indeed, brand perception reveals the manner in which consumers view aproduct or company. Brand perceptions can result due to experience orword of mouth. Positive reviews concerning a particular product cansubtly lead to high perceptions. However, perceptual distortions canoccur where consumers develop negative opinions of a brand. In thisregard, a business can rebuild the brand so as to create new demand.

References

Martinez, P. (2012). The consumer mind: Brand perception and theimplication for marketers. London, UK: Kogan Page.

Möller, J. (2013). Brand perception. Berlin, Germany:University of Berlin.