Impact of Advertising Business Advertising Management

Question: Discuss about theImpact of Advertising for Business Advertising Management. Answer: Introduction: The impact of advertising over consumer price sensitivity and buyingbehaviors Problem Statement With the increased globalization, no business is operating in isolation. There are various factors, which affect the success of any product in the very competitive global markets. With increased availability of international standard products, the impact of correct marketing often becomes deciding in establishing the consumer price sensitivity for a product along with consumers buying behavior regarding it. The brand image and advertisement play a critical part to enhance performance of any company (Zhao, Lynch Chen, 2010). While the brand image is used as an implicit tool to bring in desired change in the consumers buying behaviour, the use of advertisement could be done to convey the companys message and stay in the minds of consumers (Malik et al., 2013). Krishnamurthi and Raj (1985) investigated how increased advertising affects the consumer price sensitivity by using a conceptual framework which integrated the role of advertising content and methodology for studying the impact of advertising on consumer price. It would be interesting to study the various impacts of advertising over consumer price sensitivity and buyingbehaviors for the products and services. Research Aim and Objectives This research would target to institute the relationship between the advertisement and choice made by consumers, affecting their aptitude for variable prices and buying tendencies. The specific objectives of this research work can be discussed as: To ascertain the impact caused by the advertisement over the consumer price sensitivity. To discover the effect of advertisement over consumer buying behavior. To research the relationship between advertisement, price sensitivity and consumer buying behavior. Research Methodology In this research we would use the hybrid methodology using both quantitative and qualitative researches (Bryman, 1992). The primary research would be the quantitative research aimed to establish the general consumer views about the impact of advertisement. The secondary research is the qualitative research aimed to achieve the research aim and objectives. The primary and secondary research methods that would be used in the research can be discussed as: Primary Research Methods The primary research would be done on the basis of the survey conducted through questionnaire targeted on the random consumers visiting a prominent city shopping mall. This survey would be created to collect data from respondents (Fowler, 2013). A random sampling method would be used to collect data. The quantified data of the survey would give useful information. The survey be comprised of 10-15 close ended questions targeted on the general consumer views about the impact of advertisement. Secondary Research Methods The secondary research would be the qualitative research done through comprehensive literature review. There are several studies and researches in the literature regarding our research topic would be thoroughly analyzed and explored. The relevant literature would them be shortlisted and included in the research paper. This literature would be analyzed with the view of results collected in the primary research. The literature included in secondary research would only comprise of authentic literatures, print books, journals, papers etc. and the internet resources with credible background would be included. The generic information websites, blog etc. would not be included in our literature review (Creswell, 2013). Data Collection and Analysis Since we would do both primary (quantitative) research and secondary (qualitative) research the data thus collected would be analyzed to achieve the research objectives. We would use software such as Microsoft Excel to do data, make relevant charts, tables and spreadsheets. Further we would do comprehensive data analysis using statistical tools such as SPSS, Microsoft Excel and Microsoft Word (Zikmund, Babin, Carr Griffin, 2013). Then we would finalize our research report with conclusions, findings and scope for further researches in the regards of impact of advertisement on consumer pricing and buying behavior. References Bryman, A. (1992). Quantitative and qualitative research: further reflections on their integration. Mixing methods: Qualitative and quantitative research, pp.57-78. Creswell, J.W., 2013. Qualitative inquiry and research design: Choosing among five approaches. Sage. Fowler Jr, F.J., 2013. Survey research methods. Sage publications. Krishnamurthi, L. and Raj, S.P. (1985) The effect of advertising on consumer price sensitivity, Journal of Marketing Research, 22(2), pp. 119129. doi: 10.2307/3151358. Malik, M.E., Ghafoor, M.M., Iqbal, H.K., Ali, Q., Hunbal, H., Noman, M. and Ahmad, B. (2013) Impact of brand image and advertisement on consumer buying behavior. World Applied Sciences Journal, 23(1), pp.117-122. Zhao, X., Lynch, J.G. and Chen, Q. (2010) Reconsidering Baron and Kenny: Myths and truths about mediation analysis. Journal of consumer research, 37(2), pp.197-206. Zikmund, W.G., Babin, B.J., Carr, J.C. and Griffin, M., 2013. Business research methods. Cengage Learning.