1 Future Trends in Advertising Name Date Instructor 2 Future Trends in Advertising Advertising plays a significant role in the promotion of products and services of companies around the world Advertising creates awareness and instills a need in the minds of consumers Commercials concentrate on the needs and benefits a consumer will have when a certain product is purchased Commercials also concentrate on various current trends in society as well as other factors Significant changes in technology aide market researchers in formulating new methods that determine key trends in social needs Advancements in technology have brought on innovations in globalization Globalization has helped produce a fast and continual addition to advertising campaigns The Internet has played a key role in how marketers advertise around the world With the increasing use of technology marketers must invent new ways to promote products and to stimulate visually their target audiences The future will bring more significant advances in how marketers advertise and how consumers shop The Internet and Its Impact on Advertising The Internet has become a vital media source for marketers It has replaced some of the outdated media outlets such as newspaper ads television and magazine ads These outlets are still used today but the trend of advertising has taken a turn toward more advanced marketing techniques such as interactive advertising Today more people are searching for products on the Internet than on television Internet advertising allows the customers to research and compare products in just a matter of minutes Internet advertising also influences a consumers buying behavior by placing eye catching advertisements on social media sites such as YouTube Facebook and various gaming sites The Internet has made it possible for marketers to create 3 more attractive and visually appealing advertisements and simultaneously modify them according to the target audience Business organizations are able to market their products around the globe without to use costly advertising mediums The Impact Globalization has on Advertising Globalization has become popular and important for the future development of the world economy It has made it easier for organizations to enter the international market in a more cost effective way and with less effort Marketers will see the world as a target market and create advertisements according to regions and cultural differences Globalization has helped produce a fast and continual addition to advertising campaigns that meets the needs of every diverse group It also has made it significantly easier for business organization to attract international customers Globalization in the advertising industry can be understood as the real world example of the electronic and telecommunication industry Samsung Sony Nokia etc are some real world organizations that have prepared the advertising campaign according to the global world by utilizing multimedia platform and integrated communication technologies Lovelock 2008 Innovations in Advertising Technology has created innovations in the way marketer do his or her research It has made life easier for those who search for statistics and find new ways to attract customers These innovations have also helped consumers feel more at ease about purchasing a product The use of interactive advertising helps marketers determine which ads are more appealing than others This provides for immediate responses from consumers through product reviews and blogs This has put companies on a global platform where they can see opinions wants and 4 needs of consumers around the world Customers can research products evaluate price comparisons and make purchases in the comfort of their home Innovations in advertising have changed the way organizations promote their products and services and how the customers react to these advertisements Marketers have a cost effective way to reach consumers around the world and consumers now have a way to research products compare prices and voice their opinions Customers are more in control of the purchases they make then ever before The Impact of Key Trends on the Marketing Mix With the use of the Internet have come innovations in the 4P s of the marketing mix Key trends in advertising have included reaching out to consumers on a global scale real time price comparisons simultaneously targeting multiple audiences and easier product placement This has brought forth a new term called the e marketing mix The e marketing mix looks at the elements of presenting the marketing mix online When a consumer researches a product online there are clear facts about the products The buyer knows immediately about product features and specifications and not just a salesperson s assumption The buying process is easier and more convenient for customers making returned visits to online stores even faster and simpler With the increasing use of technology marketers must invent new ways to promote products and to stimulate visually their target audiences It is more important than ever to keep up to date on current trends With the numerous Internet sites available researchers must determine what sites are the most popular to get the full impact of their advertising campaigns Traditionally pricing was about determining company expenses discovering how much consumers are willing to pay and taking account competition pricing Many costs such as overhead for brick and mortar businesses have disappeared and have been replaced with online 5 stores which encounter very little overhead The Internet has also made pricing very competitive Consumers have the power to shop around for the best deal with a click of a button Such easy access to information has changed how pricing is determined and maintained The term E pricing is about the Internet With E pricing businesses can also easily reward loyal customers Organizations can track repeat visitors to their online stores and they can easily create loyalty incentives to encourage customers to return Payment of products has also become easier and more convenient This has created one of the biggest changes to the marketing mix Customers can purchase direct from manufacturers without leaving their homes This completely cuts out a trip to the store the salesperson and the cashier Currently the challenge for online retailers is to ensure prompt delivery of the product to the consumer Advertising in the Next Ten Years Emerging trends