advertising social factor

if we can think of advertising the first thing which would come in our mind that is marketing. because advertising can be done on the basis of marketing. the question raised in mind that what is marketing? the market is the place where people can different types of products at different prices. then advertising means that the new product has been launched in the market that needs to advertise to sell advertising that can be done through social media that was the best place to increase your share in the market.in social media, there can be various sites and apps to sell your product and today nobody interested to go the market every people wants the online shopping of products. it will be good for the social users to online the product and it will come to the gate.but some people think that the product can be seen it is not exactly like that but that is not the p[roduct can be seen it will be exactly like that. advertising of products just to increase your sell and increase your share in the market. advertising has some factors that are affecting the market product .                                                             1. social factors  - these are the factors that affect the people's lifestyle according to their religion, family and buying potential which can change over time. the population is also one of the important factors of advertising as the p[opulation increases the demand of the buyers in the market is also increasing.                                                                                                                                  2.Economic Factors-
There are various economic factors that affect marketing such as inflation, interest rates, exchange rates, recession, and taxes.
  • Inflation: Inflation can be defined as the rise in the prices of various items over a period of time. A rise in the prices of goods is directly proportional to the input prices for producing goods and services. In the case of inflation, the market analysts and the fund managers will consider the total impact on the margin of that particular product.
  • Interest rates: Less interest rate means more money to spend. When a consumer pays less in terms of interest, it means he is left with more money to spend on, which in turn, creates a ripple effect of high spending throughout the economy.
  • Exchange rates: Exchange rates have a symbolic effect on companies that do business globally. When the business enterprises exchange goods or services across borders involving two or more currencies, variation in exchange rates can result in profit or loss for a particular business.
  • Recession: Business firms affected by recession spend less cash on advertising and marketing a product; as a result, consumer faith fades away, perpetuating the recession.
  • Taxes: Taxes mitigate both demand and supply of a product, and prompts the market equilibrium to a price that is higher than without the tax and a quantity that is lower than without the tax.
  • Income level: The varying income levels in a particular company determines the pricing strategy of the products and services in the market. This will estimate whether people will purchase your products or not.                                                                                                  3. regulatory factors- if the new product has been launched in the market there are some patent rights granted by the government to sell off the products. government regulation are introduced to protect both the business firms as well as consumers to ensure fair competition and business practices.                                                                            4. competition -there was competition in the producers as well as consumers also there was a wide variety of products selling in the market so it was a competition in the variety of goods and services in the market.                                                                                   5. statistics -there was a competition in the market so people are the main statistics of the market who can purchase the product .that  how many sales can be estimated to be done in the month.                                                                                                  there are some factors of advertising are;                                                                                       1. Projected annual sales:
    • The annual gross sales are always taken into account when an entrepreneur prepares an advertising budget for his business. This helps the entrepreneur to know his actual advertising allowance while preventing him from spending too much or too little on advertising.                                                                     2.Marketing objectives: Marketing objectives widen across organizations and can affect significantly what appears in a company’s advertising budget. Marketing objective can be to retain 5 percent more repeat customers, encountering growth each month or improving annual sales by 15 percent. The objective helps define strategies for marketing and hence, gives an insight into how and where to advertise, which in turn affects the budget of advertising.                                                                                                                    3.  Target market: The target market is the potential buyers of a product. While one business may target fresh college graduates with an average income of 25,000 rupees, another may target consumers whose annual income exceeds 100,000 rupees. The target market always has an impact on the advertising budget.                                                                                                   4.types of Media: The type of media has chosen for advertising defines the advertising budget. A local print media may cost lesser than an online advertisement with a credible website. The kind of media opted to advertise a product from print, web, radio, television, leaflet, billboards to direct marketing can have an impact on the advertising budget.http://debinfo.com/advertising-social-factor/
                                         

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