Understanding the Value of Advertising [Archives:2000/38/Viewpoint]
My experience with the Yemeni market and businessmen resulted in coming out with a conclusion that the concept of advertising is not common here is Yemen. Unfortunately, most of the grand enterprises do not actually realize how important it is for them to keep their names in the market, especially in an era where global economies are emerging.
Marketing is an art that requires genius and maneuvering. It surely takes a lot of effort and dedication to convince people not only to buy things, but the need for buying them. Creating the eagerness to possess a product and hence buying it takes a great deal of speaking talents and convincing skills. However, any wise businessman would probably realize how important it is to advertise and give priority to the awareness of the public of his companys services and products. Advertisement is not only used to get new customers, there are many more benefits from advertising:
1.It keeps the name of the company in the market. In other words, it maintains its popularity and high rank among competitors.
2.It maintains old customers; when they see that the company they are dealing with is present always and it is famous in the media, they feel proud to remain with it and so they do.
3.In our ever-changing environment, new companies keep rising everyday, so keeping a policy in advertising makes the new comers think twice before trying to compete.
4.Need is the mother of invention. Hence, to maintain the prestige of the enterprise in the market, the advertising staff has to be very creative in placing the ads for the attraction of readers, viewers and listeners.
There are many other benefits, I am sure the list could go endlessly. The idea is why should one advertise, and how come there isnt much marketing awareness in Yemen yet?
Today, we are going through an era of globalization that requires businessmen and marketers to make good use of every single instrument to spread popularity and information about their companies. If advertisement was not of use, there would not have been millions spent on advertisements all over the world. Good advertisement mechanisms have always been a major factor of success for businesses, and it continues to hold the no. 1 position among all other marketing techniques. Taking Yemen Times as an example, we have heard several stories of successful businesses that used the newspaper as part of their campaigns for better sales. Advertisement is not only about money, its more about fame.