In business, every penny counts and is precious. Business ventures do not just engage in advertisement for the sake of it. The main aim of advertisement is to obtain the maximal returns on investments. The choice of the advertising media then becomes very critical since it will determine whether the business would achieve the winning edge or not. The winning edge is that point when the business is getting greater sales translating in to more profits and an improved bottom line.
When selecting the best media for advertising, the advertiser should find answers to the following critical questions; who are the potential buyers (i.e. who is the target)? What is the most suitable medium that can reach them? Is the cost of the medium proportional to the impact it will have? Some media are very expensive but may not bring enough response. The choice of the right media is the most important step in promotion and marketing.
The Best Medium for Advertising Colt 45 Liquor
The choice advertising media to be used for alcohol drinks is tricky since most of people do not like getting such information more often. Human rights activists and governments have strict rules that regulate advertising of beer making it very tough for beer sellers to establish the appropriate media (Miller 2002).
The most effective for advertising Colt 45 is television and billboards. Television adverts and beer have developed a long tradition of going hand in hand. Since the television came to the market in the late 1940s the beer manufacturers have been doing their adverts on it and the earliest ones even never had taste, but currently adverts have been refined and are very effectual.
The simplest way to grade the efficiency of an advert is to check out the sales improvements (Rye 2003), if they do not increase; definitely the advert was not effective. To date, television has revolutionized the marketing of beer and its very unique and most valuable means that target the alcohol drinker correctly at the barstool!
On record, it has been found that in Chicago, American taverns accounted for nearly half of the total television sales in 1947. The television as medium of advertising has already established a reputation, having played a big role in establishing of the largest beer companies and world top brands, like Black Label and Lite beer (Miller 2002).
The televisions allure by beer advertisers was inspired by increased airing sports programs on the TV and the notion the beer and sports go together. Advantages of television advertising include; television covers a wide range of people in a very short time, compared to other media (Rye 2003); the latest development in technology allowing cable connection open opportunities to target specific audience; the message passed through television, through visual, sound and motion is very clear; (Miller 2002).
Since the television programming is very clear, targeting is very easy as in Liquor advert can be aired late night or between sporting activities rather than during cartoon programs!
The best combination of advertising is utilizing television and billboard advertising. The current community has become mobile one and people tend to be caught up in traffic or highways and spending a lot of hours on the move. The billboard is the most effective medium that can be used to reach the adult population (Bailey 2003), since they are the target for beer including the Colt 45 liquor. Television images have been exploited and can be transferred to billboards to offer a lasting image that reinforces what was earlier advertised on the television.
Billboards are currently the most cost effective, high impact advert media that matches the current creativity in technology in art. Billboards always grab the attention of viewers who are potential consumers. Billboards due to their cost effectiveness, they have gained popularity significantly. Bearing i9n mind their 24 hour exposure, they can effectively compensate for the shorter television commercials that last only few seconds (Bailey 2003).
Placing such a combination by the Colt 45 Liquor would be very successful media combination that is cost effective while at the same time reaching a wide range of possible consumers, all these benefits would translate in to greater sales and therefore increasing the return on investments. The advantages of billboard advertising are; the message is delivered continuously; it’s exposed for 24 hours per day; it’s very cost efficient; it builds a strong brand recognition and awareness; it’s very eye-catching and therefore greater impact; reaches a wide population per day; and directs consumer to where the product is found (Bailey 2003).
The main reason for carrying out advertisements is to maximize of the returns on investments (ROI) while cutting down the cost of marketing. Due to these reasons, a business venture or any brand that has to be marketed should be able to bring out the intended results. Advertising is basically a form of communication.
The seller presents the product to the target consumers, and waits for the feedback which actually has to come in the forms of increased sales. Successful advert brings forth greater sales which translate in to more profits, which is the main aim of any business venture. For Colt 45 to gain competitiveness in the market and bring about maximal profits its advertisement should meet the objectives of broad-spectrum advertising which are; Trial, continuity, brand switching and switch back.
Bailey M. (2003). Marketing Your Business. A Theoretical and Practical Guide to Cost-effective Promotion. Marketing your Business
Miller C.H. (2002). Beer and Television. Perfectly Tuned In. All about Beer Magazine.
Rye D.E. (2003). How to Start and Operate a Successful Small Business. Winning the Entrepreneurial Game.