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ADVERTISING A FLASHBACKAdvertising is virtually everywhere in daily life, and its forms and roles are both contested and admired. Some see advertising as both the mirror and the maker of culture its words and images reflect the present and the past even as they contribute new sounds and symbols that shape the future. Others say that advertising is purely an economic activity with one purpose to sell. But most of the people agree on the fact that advertising creates magic in the marketplace.Advertising can be defined as a paid, non personal communication of information about product or ideas by an identified sponsor through the mass media in an effort to persuade or influence behavior. Advertising is non personal as its directed to groups of people rather than to specific individuals. Speaking in broad term advertising communicates information about products or ideas.THE EVOLUTION OF ADVERTISINGBuy cheap impact of internet on advertising term paper
Advertising is hardly a new phenomenon. Even a hundred years ago, advertising was an integral though sometimes unwanted part of daily life. Over the centuries, the evolution of advertising has been closely tied to social, economic and technological changes that have affected the media and the message. We would study the evolution of advertising under the following headsØ The Early Days These were the days when public education was low, few people could read, and so for centuries trades people attracted attention with public criers and pictorial signs. Some Greek and Roman traders also used signs to advertise their products, as people could not read. When Johann Gutenberg invented movable type and the printing press in Germany in the mid 1400s that printed materials could be mass-produced. This led to printed pamphlets being distributed and also some primitive forms of todays billboards.Ø The Industrial Revolution The Industrial Revolution and the subsequent shift from rural to urban centers and the widening of the gap between producers and the consumers, the businesses turned to advertising quickly to reach out their potential customers.Ø Technological Changes During and after the Industrial Revolution, technological advance changed both the speed and form of communication. This can be attributed to the fact that photography was invented and along with telegraph, telephone, typewriter, phonograph, and motion pictures opened up new avenues for personal and business communication. However, the inventions of radio and television changed the face of advertising forever as print and electronic media expanded the use and impact of advertising. We discuss a few of them in brief• Print Media This would include the magazines and the newspapers. Todays newspapers and magazines offer advertisers the flexibility of targeting the audience ranging from a small local area to the whole nation or the continent. By the dawn of the twentieth century, advertising had become a social and economic fixture in the U.S. and U.K. and all the magazines and newspapers were being filled by ads of different companies and varied products. Today also the print media is an effective mode of advertisement.• Electronic Media The electronic media would include radio and the television. The advent of the radio allowed the advertisers the liberty of using certain jingles and music, which could be associated with their brand and product. Whereas the television brought along the visuals along with the audio effects. This was a revolution and the print media found it being sidelined as far as advertising went. Talking of India, the Cable TV boom in the early nineties added to the choices available to the advertiser on a regional segment.THE ADVENT OF THE INTERNETThe new millennium has brought us on the brink of the I.T. Revolution. This revolution has been aided by the advent of the Internet in a big way. Internet is fast changing the way people used to do things. Naturally, the same would have an impact on the advertisers. The Internet has been accepted as the most powerful media for advertising due to the absence of geographical barriers. The advent of the Internet and its subsequent acceptance has once again challenged the traditional forms of advertising. Advertisers are trying to use the net to advertise their products and hence net their customers.Thus, with the Internet gaining prominence, advertising equations are fast changing and we, in the subsequent chapters, would like to study the impact of Internet on advertising from the customers as well as advertisers point of view. TRADITIONAL ADVERTISING VERSUS INTERNET ADVERTISING The first Web advertisement was placed on the Hot Wired web site in October 14. AT&T, MCI, Sprint, Volvo, Club Med, ZIMA were the first to try it out and the Internet advertising has come a long way since then. Here, we would like to compare Internet Advertising with Traditional Advertising TRADITIONAL ADV. (TA) INTERNET ADV. (IA) TA is static. It is dynamic with multimedia- supporting text and graphics video sound all together. Space is not a restricting factor Space is a problem, as regards size of the banners etc. The proportion of advertising to editorial is high sometimes 5050. A web page would be 1% editorial and % advertising. Does not evoke immediate action. Invokes immediate action as you at-least need to click on the ad. Response to the action is not immediate. First response is immediate as when the user clicks, the person is directed to other web page with more details. Advertisements are passively received. The user has high attention level and concentration while using the net, and hence they notice the ad. Advertising does not always target a very focussed audience. This can be very focussed. Advertisements are ubiquitous. Advertisements catch users when they are on the lookout for some thing. For example the search is for travel on a search engine there are ads of travel agents on the net. Difficult to track the exact number of people who saw the advertisement. This is quite possible with Internet advertisements. Ads are graphic intensive and avoid copy overload. Both copy and graphics are restricted by the banner size specifications. The costs would be prohibitive to reach a global audience. There are no such constraints. OBJECTIVES OF INTERNET ADVERTISING Advertising As far as advertising on the Internet goes, all advertisements will serve to attract the users attention and draw him to the company, which is advertising. Build brand awarenessDirect or indirect methods can be used on the websites to build brand awareness of the different brands of a company. This is where the Internet scores traditional media and methods as explained below. Stimulate direct action Visitors to a companys web site should get involved with the offerings on the site. Valuable customer information can also be captured and tracked for future marketing initiatives. Promote its brands Promotional give - away or contests generate excitement while simultaneously promoting your brands online, aiding off - line sale. Building a culture around its brands This goes along with that companys traditional advertising. Surrogate advertising This is another means of surrogate advertising of the company, where all forms of traditional advertising fail. Surrogate advertising can be proved to be positive in case of advertising on the Internet.FEATURES OF INTERNET ADVERTISINGAdvertising on the Internet has certain unique features that differentiate it from other forms of advertising. They are as follows• Member registration Member registration is an efficient tool that is used by firms to create their database. Such a database may be used to design promotional campaigns. Systems of free registration can be followed by allowing registered users to participate in various events. • Online opinion pollsOpinion polls are conducted to obtain the responses from users regarding the firms products and services besides including topics of general interest.• Newsletters Regular newsletters are sent especially to registered users. These contain information about current updations on the site and activities being performed by the company.• Contests and sweepstakesContests are useful in attracting new users to websites. They may be for simple things depending on the product or service being advertised. The prizes offered are in a wide range and usually have the logo of the company and the homepage address displayed prominently.• ContentThe content of the advertisement can be regularly updated with news regarding the activities of the firm. A fact-based section showing the manufacturing processes of a company may also be included. The use of multimedia tools can make this more interactive.• E-cards Users send free cards via e-mail from the site of the company advertising the product. The card prominently displays the logo or the baseline of the brand. The cards may be for different occasions such as birthdays, festivals, birthdays, etc. These cards are used to reinforce brand identity. Star endorsers of the brand may also be included in the picture postcard themes.• Downloads Downloads may include various utilities for the computer such as icons, desktop patterns, screensavers, themes, etc. Registered users get the opportunity of downloading software. Charts and other informative articles may also be included.• Coupons Coupons are used to promote sales off-line. Sending discount coupons for the products and services of the company on special occasions can do this. EXPENDITUREWebsite hosting and maintenance There are two options for a firm which wants to host its website. They are 1. Hosting the website on a rented serverCost Rs. 50000 per annum. Sites can be hosted on the servers of web development companies. This is a reliable and safe option. It offers the advantage of being much cheaper compared to having an in-house server. Moreover no additional hardware, software or personnel is needed since requisite changes are made by the web developer at regular intervals. Most Indian websites have this option installed.. In-house web serverCost Rs. 00000 (one time set up).Maintenance Rs. 1,00,000 per annumThis option requires a leased line, in-house web server (hardware and software) and initial setup consultancy. The in-house maintenance of the server also requires annual rental of a leased line and hardware personnel for maintenance.Website promotionCost of launch Rs.40,000. Advertising about the website can be done in the traditional media by modifying current advertisements to include the address of the homepage in order to attract off line customers. Moreover online banner advertising can also be done. If the website is hosted on a rented server the website developer usually advertises for about 1 month. This will help to attract visitors to the site.Advertising on the World Wide Web is growing at a fast pace. However it is difficult to compare advertising impact on the Internet as compared to the standard media, such as broadcast and print, because current measures of advertising on the web are not standardized and incorporate significant measurement errors. OnLine Advertising RevenuesThe online advertising revenue reached $06.5 million in 17(Internet advertising bureau, 18). Although advertising expenditures on the Internet remain relatively small in contrast to standard media, this figure is approaching that of outdoor advertising and represents nearly a three fold increase over the last two years. In 15, only $1 millions were reported on Web Advertising in contrast to $8.1 billion for the television medium. This spectacular growth is expected to continue. Thus, it had been projected that Internet Advertising revenue would reach $1. billion in 18 and grow to $ billion in 1 and reach a level of $4. billion in the year 000. Statistics suggest that the Internet is quickly becoming a very significant advertising medium. Moreover, a substantial increase in revenues, from $1.5 billion in 16 to a level of $.7 billion in 18, has been noted for expertise, access, software, content and commerce on the Internet.The number of web users is expected to grow to 170 million at the end of year 000. Estate predictions are, that by the end if the year 00,web spending will reach $16 billion. However, it is not likely that firms are going to increase their Ad Budgets due to the presence of new media. It is highly probable that web advertising will begin to siphon dollars away from other media. It is expected that yellow pages and direct mail will take a direct blow from this media. The reason being, that when compared with direct mail, the web is more efficient and measurable and also offers a greater degree of interactivity and opportunities for relation building. All of these factors suggest that web advertising will ultimately become a very important component of a companys media mix. Already numerous companies are committing large budgets to advertising on the web. Internet advertising has reached a point where companies are cons. This is because web servers typically provide statistics that can tell advertisers how many pages were requested, how much time was spent on each page etc. Due to these shortcomings it becomes difficult to calculate the exact reach, frequency of banner advertising exposures for a target audience etc. However for other media the measurement problems are not so acute.Top 10 Interactive Agencies (18)1. US Web/ CKS. Euro RSCG Worldwide Interactive. Grey New Technologies4. Cambridge Technology Partners5. Agency.com6. Xceed7. TMP Worldwide8. iXL. OglivyOne10. Strategic Interactive GroupTop Ten Online Advertisers Jan-Dec 18(in$)1. Microsoft 485714. IBM 851554 . Compaq Computers 16160614. General Motors 170855. Excite 15456. Infoseek 071547. AT&T 858748. Hewlett-Packard 800888. Barnes & Nobles 7606710. Datk Securities. 760451IMPACT ON VARIOUS INDUSTRIESUp till now, the best way to build a mainstream brand is to advertise on television, where mainstream consumers account for roughly half audience. But companies that want to avoid the high cost of national advertising can find other ways to insert their brands into consumers physical world. www.Gardenescape.com has brought its brand and its point of sale to the newsstand. As a gardening supplier, this company must appeal to high income pessimists. So Gardenescape.com created a magazine called Garden Escape where the photography is so beautiful that you might not even notice its from an Internet-based company. Yet every article includes a shopping list, an 800 number (free calling system available in USA) and the web site address where consumers can buy the plants and tools they see. Start-ups may not like the prospect of investing in non-Internet marketing channels, but this is what it will take to win mainstream consumers.The Internet makes consumer industries far more competitive and dynamic than they were in the past. In this harsh environment, the companies that intend to thrive in the long run must build a defendable strategic position. In other word, the companies need to build an advantage that other companies do not have in the marketplace. Cutting prices by 50 per cent and running Super Bowl advertisements create huge short-term growth, but it does nothing to secure the future of the company. Having a hot IPO or a high stock price may help, but it wont suffice. The companies that ultimately will win the battle for Internet consumers see now that profitable growth can not go on forever and simply being a dotcom does not constitute a strategic advantage. As the Internet matures, companies must learn to compete in world of Dynamic Trade, where the apparent supply to consumers rises and companies must heed the signals of current demand, what companies want now? Dynamic Trade will make consumer industries more efficient and on the whole less profitable than they were in the past. They must build a unique value. One way to do this is to build a brand based on consumer experiences. A projected image, even one that has millions of dollars in marketing budget behind it, will not stand up unless the every day experience of the consumers on the internet reinforce the brand. Companies that ignore this truth will find that they are not just wasting half of their advertising budget. The effect of Internet Advertising on Newspaper Revenues JORG-MARG`S FINDINGS AND ANALYSISORG-MARG conducted a survey to analyze the behaviour of internet users. They had chosen 100 as their sample size of which most of were students. They have focused only banner ads shown in the web sites while surfing. They found the results as follows Do you click on the ads that appear on the web while surfing? Out of every 10 ads you see, please specify the number of ads you usually click on? Who cares about the ads? ORG-MARG asked to write at least three Brand or web sites you can recall. The main purpose for surfing the net How often do you use the internet services? RECOMMENDATIONSAs discussed in the previous chapters, the Internet has had a big impact on advertising. We would like to recommend the following on the basis of our study1. The Internet has made a huge impact on advertising. Companies should be careful as regards joining the IT bandwagon. They should not advertise on the net just to project themselves as a techno savvy company or maybe because their competitor is doing the same thing. It should be a well-planned campaign full of specific information and attention catching.. The net charges are on the higher side (though there has been a steep decrease in the rates in the last few months). Hence people would be wary of the fact that ads consume a lot of online web time and hence they avoid clicking on average ads. Therefore, advertises should be designed in such a fashion that they attract attention and induce people to click on the net.. One more thing would be to generate search specific advertising. This would mean that if I give a search for books on the search engine, the ads displayed would be related to the books.4. Generally, people perceive the ads to be time consuming and full of unwanted information. Care should be taken to design the ads in such a way that the information they provide or the hyperlinks they provide to a site gives adequate and specific information.5. The ads and the subsequent information on the web site should be constantly updated and highlighted in the ads and thus induce repeated clicks on the ad.6. Last but not the least, the ads should be designed so as to attract attention of maximum number of people and inducing them to click, failing to do so the advertiser ends up defeating his own purpose. CONCLUSION The Internet has had a huge impact on advertising as discussed in the previous chapters. The survey findings might suggest that it is not picking up as yet with the customers as they usually prefer not to click on the ads. This might be due to the fact that the traditional forms of advertising are positioned in their minds and the concept of Internet advertising might take some time catching on. Even the high rates and low accessibility of Internet would be the hindering factor. But on the other hand the increase in the spending on the Internet advertising clearly indicate that marketers are willing to spend a significant part of their ad budgets on Internet advertising which in turn is a sign of the emerging days of Internet advertising.Love it of loathe it, Internet Advertising is here to stay and the marketers who will adapt to the needs of the net users and communicate properly with the customers as regards their products will make it big else they will perish. On the other hand the customers will have a better access to information and will have a variety of products to choose from with the Internet advertising gaining importance.REMARKS
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