A. Importance to its Clients
B. Importance to Customers
C. Importance to Media Owners
A. Importance to its Clients
1.) Eliminates the need for the advertising department
2.) Reduce in Media Cost
3.) Effective Advertising Campaign
4.) Conducting Market Research
1.) Eliminates the need for the advertising department
Advertising agency eliminates the need for an advertising department because it requires the services of an expert and professional persons that are costly for the advertiser. Companies with sound financial conditions and which advertise their product on a small interval can set their advertising department.
2.) Reduce in Media Cost
Media cost reduced by obtaining the space and time in the media for its advertiser cheaper rates as much as possible. Advertising agencies are in touch with the media on a constant basis. As the advertising agency is friendly with the advertiser in the same way they are friendly with the media channel provider.
3.) Effective Advertising Campaign
An advertising agency is consist of expert and professional person, so they are highly specialized in their work. They have in-depth knowledge of preparing ads, selecting media, selecting the most appropriate time and space for advertising, etc. Agency makes it possible to perform all the activities timely and effectively.
4.) Conducting Market Research
Advertising agency make research in the field of market demand, level of competition, customer taste, economic and trade conditions, trends in market or fashion, popular t.v. program, popular media channel, the right time for advertising, requirement of space in media, etc. Agency does continuous research to make advertising smooth and effective.
B. Importance to Customers
1.) Spread Awareness
2.) Provide knowledge and information
3.) Create Link b/w advertiser and customer
1.) Spread Awareness
If an advertiser produces a new product, then how market and customer will get aware of it. In this case, the advertising agency helps the advertiser to introduce its product in the market. This is how customers get awareness that there is a new product available in the market.
2.) Provide knowledge and information
Introducing a product is not sufficient. Customers must get some information about the feature, use, benefits, etc. of the product. In addition, they must get some knowledge that why their product is better than others or any warning related to the product. This is done with the help of an advertising agency.
3.) Create Link b/w advertiser and customer
The advertiser wants to introduce its product and customer want to purchase a product that can fulfill their needs, wants, or provide comfort. This is how customers and advertisers will get satisfaction. Advertising plays an important role to create a link between the advertiser and customers.
C. Importance to Media Owners
1.) Assure risk free business
2.) Slashes down the product cost
1.) Assure risk free business
Agency is the intermediate between the client and media channel owner. The agency is friendly with both advertisers and media owners. They provide risk-free business for both as it is helpful for the advertiser to provide the best media channel at less price, and media owners get benefited when the agency buys space and time at large for the number of clients.
2.) Slashes down the cost
Agency reduces the cost for the advertiser, media owner, and the customer. As the agency provides services at an economical price, so the advertiser does not have to set up its expensive advertising department. Most of the work gets done by the agency, so the media owner has to put less effort. At last, if these costs get reduce, then the price of the product also reduces that benefit customer.
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