A potential business’s one of the key activities is advertising.
And as raw materials, capital, human resource/labor, strategic planning and organizing is important for producing any product or service, so is advertising equally important. Advertising can be defined as “Publicizing that the business offers to the targeted consumers”. Advertising is a crucial element of marketing. Also, it can be said that advertising your product or service in today’s competitive world, makes for an essential precondition for selling your product or services. In order to carry out a successful advertisement campaign, companies use a diverse range of ideas and multifaceted talents.
As electronic media has advanced through the years and is under continuous development and innovation, it has aided in the growth of advertising as an organized industry.Indian advertisement industry, which used to be a small-scale business earlier, has grown out to be a full-fledged industry. Also, as per experts, it has been proposed that in the near future, Indian advertising industry will stand at second position after China in terms of the fastest growing advertising market within the Asian countriesMarket sizeOut of the total advertising revenue, print holds a significant share of around 41.2%. Similarly, Television has a share of 38.2% and digital, on the other hand, has a share of 11%. The rest of the 10% is made up of radio, cinema, and outdoor advertisements.
The digital advertising market in India is expected to cross by 2020, the Rs. 25,000 crore mark with a compound annual growth rate of 33.5%. The share of internet in the total revenue generated by advertising industry is expected to grow at 16% in 2018 which is just twofold of 8% in 2013Road AheadWith increasing competition and various firms entering the field of food and beverages and with growing penetration of e-commerce, the advertising and marketing sector is advancing towards a boom. Thinking a step ahead, a potential profitable target will be the rural audience.