Direct mail and outdoor advertisements and publicity
Advertising in indian economy assignment
Hence the main goal is not just to inform or persuade but also to establish interactive personal solidarity relationship with the consumers as consumers have been seeing visible and tangible improvement in their lives each passing year. Over a period of time, advertising is undergoing morphing changes slowing and steadily with multi facet approach. ADVERTISING IN INDIA The Indian marketing & advertising sector have shown a tremendous growth since the early 90’s with several progressive plans implemented by the Indian government. The government then decided to open the Indian market for foreign investors and allowed foreign equity.
That paved the way for the opening the floodgates of the boom in these sectors which is still shining high. Many of the Indian Advertising companies are earning their deserved name and fame by being conferred with the honor of market-leaders and several others are on an emulating spree to achieve the feat of their peers. The current growth of 18-20 per cent in ADVERTISING is among one of the highest among various industries in India. Nowadays famed global agencies are getting attracted towards the growing Indian market and the Indian economy is slowly but steadily opening its doors to World market capitalism.
According to government data, the manufacturing sector witnessed a growth of 16. 3 per cent in January-March 2010, from a year earlier. ADVERTISING AND THE INDIAN ECONOMY Advertising and other marketing expenditures incurred by a firm are expected to create a stock of goodwill which may generate profits for the firm not only in the current period but also in future. It is considered as one of the most important weapons to face and deal with competition in the market place. Planning for advertising and other kinds of promotional programmes are amongst the main activities of any large corporation in modern society.
Large Indian companies allocate huge amounts of money for their advertising budgets. Expenditure are always incurred in anticipation of benefits. Thus advertising is justifiable only if the benefits derived out of the advertisements are more than the amount incurred in advertising expenditure. The Indian advertising industry is talking business today. It has evolved from being a small-scale business to a full-fledged industry. It has emerged as one of the major industries and tertiary sectors and has broadened its horizons be it the creative aspect, the capital employed or the number of personnel involved.
India has made remarkable progress in information technology, high end services and knowledge process services. The Indian advertising industry is expected to grow by 13 per cent in 2010 to Rs 21, 145 crore, According to the PITCH-Madison Media Advertising Outlook 2010, after a tough 2009, the Indian advertising pie is expected to be worth about Rs 21, 145 crore this year, a 13 per cent increase over the previous one. The Indian media and advertising industry clocked a size of Rs 18, 670 crore in 2009 that saw a dramatic drop of 10 percentage points compared to 2008, where the industry was worth Rs 20, 717 crore.
The report said the print media was the worst hit in 2009. The medium lost a massive Rs 2, 000 crore of ad revenue and its share in the advertisement pie stood at Rs 7, 806 crore.. Television and radio, which grew marginally at two and three per cent respectively, contributed about Rs 9, 173 crore to the advertising pie. The current pace at which the Indian advertising industry is moving the industry is expected to witness a major boom in the times ahead. If the experts are to be believed then the industry in the coming times will form a major contribution to the GDP.