Benefits Of MR To Advertising Agencies:
Advertising agencies are specialized professional service agencies that offer different services to their clients as regards advertising and publicity through different media including press, TV and radio. Such agency performs various functions and offers varied services to its clients by charging necessary fees. Such services include booking space and time for advertising, preparation of advertising copy, organizing advertising campaigns of clients, offering guidance to the clients as regards packaging, branding, product modification and so on. Selection of suitable media for advertising, copy writing, testing effectiveness of advertising, advertising planning of the clients are some more functions/services offered by advertising agencies. Some agencies even conduct marketing research activities on behalf of their clients.
In order to conduct its activities efficiently, an advertising agency needs adequate information and latest trends as regards advertising and marketing. Such information includes product details, readership details, details of different advertising media, media rates and so on. Such information is available from different sources such as data published by newspapers, TV, radio, advertising magazines and so on.
An advertising agency also needs information as regards new trends and techniques used in advertising, legal and other restrictions on advertising and publicity in India, details of different advertising media (i.e./ rates, coverage, audience, popularity of the media, etc.). Information about market competition, new products available in the markets, advertising campaigns of competitors of its clients, etc. is also required by an advertising agency. For this, the agency has to conduct research activities in the field of advertising and marketing.
An advertising agency has to collect and maintain all such information in an orderly manner for quick reference. It has to collect all useful data from different sources. Data already published on advertising and allied subjects need to be stored by the agency for ready reference. In addition, the agency has to conduct research activities in order to collect necessary information useful for the conduct of its functions. A well-maintained reference library is also necessary in the case of an advertising agency. Such activities will provide suitable feedback to the agency and the agency will be able to offer efficient services to its clients. This suggests the importance of MR and MIS in the case of advertising agencies.
MR supports advertising agencies in regard to advertising activities. It provides reliable and updated information for correct decision-making on advertising budgeting, media planning, selection of advertising media for the clients and checking advertising effectiveness. An advertising agency can arrange advertising campaigns of its clients with the support of data available through MR. Finally, an advertising agency can give proper guidance to its clients on advertising matters with the help of information available through research activities on press, media, and so on.
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