Developing an advertising strategy of new product
Modern advertisingof consumer goods is developing at a rapid pace, providing ample opportunity to support for launching thousands of new items into the market. Manufacturers make the signifcant investments in various channels of communication of goods for communication with consumers, so a properly...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
BilaTserkva National Agrarian University
2020-05-01
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| Series: | Економіка та управління АПК |
| Subjects: | |
| Online Access: | http://econommeneg.btsau.edu.ua/sites/default/files/visnyky/economika/rozumei_s._nikolaienko_i._doliuk_a._1-2020.pdf |
| _version_ | 1818147838232625152 |
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| author | Rozumei S. Nikolaienko I. Doliuk A. |
| author_facet | Rozumei S. Nikolaienko I. Doliuk A. |
| author_sort | Rozumei S. |
| collection | DOAJ |
| description | Modern advertisingof consumer goods is developing at a rapid pace, providing ample opportunity to support for launching thousands of new items into the market. Manufacturers make the signifcant investments in various channels of communication of goods for communication with consumers, so a properly designed advertising strategy and its implementation in business is an indisputable step to achieve success of product’s realization on market. However, there is no unifed approach to the strategic planning of effective advertising support for new product, it remains is open to both academics and practitioners, and needs further development.
The paper deals with the general defnitions of scientific concepts: "strategy" and "advertising strategy". The main stages of creating an advertising strategy to achieve the necessary communication effect and to obtain a positive consumer’s response are formed. Given the high level of competition in the consumer market, an analysis of market factors influencing this process is one of the frst stages of developing an advertising strategy. The existing classifcation was analyzed and the modern approach to the distribution of these factors was determined.
The second step is choosing the purpose and strategic goals for building an effective advertising strategy. Starting from goals and consumer interests, there are many types of advertising strategies in the advertising market. Was examined the classifcation of advertising strategies and proposed to expand them. Depending on the components of the promotion, it is suggested to divide them into product's and image's. According to this classifcation, was analyzed using of advertising strategies by modern enterprises in 2019. Was determined that a well-formed advertising strategy of the enterprise will allow to expand the target audience when launching a new product on the market.
The next important step in developing an advertising strategy is the media planning and budgeting. Was investigated the level of investments into different channels of communication, based on the data of the Ukrainian Advertising Association. Was determined that television is the most effective and expensive media channel. At the same time, the best in the terms of growth of investment relative to previous years is digital channel. Particular should be attentioned the stage of advertising creative making and the choice of the communication platform, which is the largest in period of formation of advertising strategy. The manufacturer needs to investigate and evaluate the buyer's response to the promotional product at all stages of a likely purchase. Was determined that for the correct reading of the idea of advertising, the optimal number of major messages in it should be no more than fve.
Has been researched that the effectiveness of the advertising appeal is determined by the observance of psychological neutrality in relation to the whole audience involved in one way or another in the advertising campaign. When the advertising product is ready, advertising can be launched into media space.
Choosing effective media channels is tailored to the needs of your target audience. The next step is following an analysis of economic efciency and effectiveness of psychological impact of advertasing strategy. According to the results of this analysis, the stages of developing a new product advertising strategy are adjusted. |
| first_indexed | 2024-12-11T12:41:36Z |
| format | Article |
| id | doaj.art-6df1024dd9474413922bf320a97abff5 |
| institution | Directory Open Access Journal |
| issn | 2310-9262 2415-7554 |
| language | English |
| last_indexed | 2024-12-11T12:41:36Z |
| publishDate | 2020-05-01 |
| publisher | BilaTserkva National Agrarian University |
| record_format | Article |
| series | Економіка та управління АПК |
| spelling | doaj.art-6df1024dd9474413922bf320a97abff52022-12-22T01:06:57ZengBilaTserkva National Agrarian UniversityЕкономіка та управління АПК2310-92622415-75542020-05-01115512914010.33245/2310-9262-2020-155-1-129-140Developing an advertising strategy of new productRozumei S.0https://orcid.org/0000-0002-0044-7043Nikolaienko I.1https://orcid.org/0000-0001-5625-0429Doliuk A.2https://orcid.org/0000-0002-4851-5519National University of Food TechnologyNational University of Food TechnologyNational University of Food TechnologyModern advertisingof consumer goods is developing at a rapid pace, providing ample opportunity to support for launching thousands of new items into the market. Manufacturers make the signifcant investments in various channels of communication of goods for communication with consumers, so a properly designed advertising strategy and its implementation in business is an indisputable step to achieve success of product’s realization on market. However, there is no unifed approach to the strategic planning of effective advertising support for new product, it remains is open to both academics and practitioners, and needs further development. The paper deals with the general defnitions of scientific concepts: "strategy" and "advertising strategy". The main stages of creating an advertising strategy to achieve the necessary communication effect and to obtain a positive consumer’s response are formed. Given the high level of competition in the consumer market, an analysis of market factors influencing this process is one of the frst stages of developing an advertising strategy. The existing classifcation was analyzed and the modern approach to the distribution of these factors was determined. The second step is choosing the purpose and strategic goals for building an effective advertising strategy. Starting from goals and consumer interests, there are many types of advertising strategies in the advertising market. Was examined the classifcation of advertising strategies and proposed to expand them. Depending on the components of the promotion, it is suggested to divide them into product's and image's. According to this classifcation, was analyzed using of advertising strategies by modern enterprises in 2019. Was determined that a well-formed advertising strategy of the enterprise will allow to expand the target audience when launching a new product on the market. The next important step in developing an advertising strategy is the media planning and budgeting. Was investigated the level of investments into different channels of communication, based on the data of the Ukrainian Advertising Association. Was determined that television is the most effective and expensive media channel. At the same time, the best in the terms of growth of investment relative to previous years is digital channel. Particular should be attentioned the stage of advertising creative making and the choice of the communication platform, which is the largest in period of formation of advertising strategy. The manufacturer needs to investigate and evaluate the buyer's response to the promotional product at all stages of a likely purchase. Was determined that for the correct reading of the idea of advertising, the optimal number of major messages in it should be no more than fve. Has been researched that the effectiveness of the advertising appeal is determined by the observance of psychological neutrality in relation to the whole audience involved in one way or another in the advertising campaign. When the advertising product is ready, advertising can be launched into media space. Choosing effective media channels is tailored to the needs of your target audience. The next step is following an analysis of economic efciency and effectiveness of psychological impact of advertasing strategy. According to the results of this analysis, the stages of developing a new product advertising strategy are adjusted.http://econommeneg.btsau.edu.ua/sites/default/files/visnyky/economika/rozumei_s._nikolaienko_i._doliuk_a._1-2020.pdfadvertising strategynew productadvertisingmedia planningbudgeting of advertisingdigitalmedia space |
| spellingShingle | Rozumei S. Nikolaienko I. Doliuk A. Developing an advertising strategy of new product Економіка та управління АПК advertising strategy new product advertising media planning budgeting of advertising digital media space |
| title | Developing an advertising strategy of new product |
| title_full | Developing an advertising strategy of new product |
| title_fullStr | Developing an advertising strategy of new product |
| title_full_unstemmed | Developing an advertising strategy of new product |
| title_short | Developing an advertising strategy of new product |
| title_sort | developing an advertising strategy of new product |
| topic | advertising strategy new product advertising media planning budgeting of advertising digital media space |
| url | http://econommeneg.btsau.edu.ua/sites/default/files/visnyky/economika/rozumei_s._nikolaienko_i._doliuk_a._1-2020.pdf |
| work_keys_str_mv | AT rozumeis developinganadvertisingstrategyofnewproduct AT nikolaienkoi developinganadvertisingstrategyofnewproduct AT doliuka developinganadvertisingstrategyofnewproduct |