marketing

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Marketing Techniques
Product promotion is very significant in enhancing the marketing strategies of a particular firm. Usually, product promotion aims at increasing the product awareness, increasing product sales, and creating a broader customer base. Advertising is a significant promotion technique that most entities use (Veloso 16).
In the 19th century, John Wanamaker made a very famous quote, “I am convinced that 50% of our advertising is sheer waste, but I can never find out which half.” I think that John Wanamaker was right at that time but in the current situation, the statement is not applicable. In the early days, most individuals and firms lacked efficient ways to promote their products. In today’s world, the development of technology and the introduction of the digital marketing create high efficiency in the marketing industry (Veloso, 18). In the 19th century, it was difficult to measure the effectiveness of advertising. Today most entrepreneurs can measure the effectiveness correctly by evaluating both the long-term and the short-term results. For instance, advertising affects the product by influencing the consumer perception and the purchasing behavior.
Some marketers tend to measure the advertising effectiveness by evaluating the ad liking, ad recall, and the ad induced purchasing intention. Unfortunately, it may not give adequate results making the marketers think that the money incurred in ad advertising is waste.

Similarly, a marketer may be using the outdated version of advertising resulting in the waste of money. In such a scenario, the fault falls on the marketer but not on the advertising aspect. Marketers should neglect the traditional view of advertising as the process of transferring information from the sender to the receiver (Veloso, 21). Advertising entails creating a strong brand, customer loyalty, and excellent customer-brand relationships.
In the 21st century, Peter Fader, a marketing professor, found that marketing is vital in understanding the customer lifetime value. The opinion by Fader supports my conclusion that advertising is very significant and the perception that it is a waste of money is the fault of the marketer. Product promotion aids in understanding the needs and preferences of the target customers. Besides, both the existing and potential customers contribute a considerable proportion of the total profits.

Work Cited
Veloso, Maria. Web Copy That Sells. American Management Association, 2013, pp. 16-21.