Power point 10-12 slides please complete 300 speaker notes per slide

Quesadra D. Goodrum

Class Discussion2 Phase 1

Colorado Technical University

Professor: Heather Weller

10/09/2014

Advertising is a form of marketing communication whereby people are being persuaded, convinced or manipulated to continue using a product or a service and for those who have not yet used that product or acquired the service to join in experience the benefits associated. For example a bank can advertise it services to the public in order to persuade new customers to bank with them since their interest rates are quite high as compared to other banks or by giving the public an offer of low banking charges. It is also through advertisements that the existing customers are able to know of the benefits that they can enjoy for instance they can take loan and repay at low interest rates. The main purpose as to why a bank need to advertise itself is basically to create awareness. It is through advertisements that they will be able to attract more and more customers to bank with them since they have explained the benefits which are to be expected in the end.

In business public relations can be defined as the flow of information from either an individual or an organization to the public. It is within the management docket whereby an organization needs to maintain the current and existing relationship with its clients for a better future. In banking sector, it will be the mandatory of banks to work hand in hand with the press so as to allow provide news to their esteemed customers on their activities. This makes the customers to be always up to date and thus maintenance of the existing relationship. It is through public relations that the customers will be able to know if there are any changes since they have adequate information coming from the banks from time to time. In the course of banks spreading information to its customers it also continues to persuade them to continue banking with them.

In comparing advertisement and public relations the two are similar in the essence that they are both geared towards public awareness and convincing existing and potential customers to use their services. Both of them are marketing strategies which promotes a business. From the discussed scenario they both enlighten the public on their benefits. For instance banks use both approaches to persuade customers to bank or continue banking with them.

Despite their strong comparison they differ in one way. Advertising is not a day to day activity since it is only done for a certain period especially to attract more clients into the business. As for public relations it is a day to day activity since customers need to be adequately informed on how the services are changing from time to time. Public relations involve a management strategy of maintaining the current customers who already exist in the business by providing them with daily news on matters of the business. Therefore advertising is mainly geared towards attracting new customers while public relations are mainly for maintaining and bettering the existing relationship between an organization and its customers.

Marketing mix is a tool used in business which gives a guideline of the components involved in a business what needs to be done for the business to excel. Advertising is a part of marketing since it is incorporated in the promotion bit of marketing. Promotion involves making goods or services known and of course issuance of offers at that time to attract many customers. Marketing mix is also associated with price, place and product. It is through public relations where the public is able to know constantly on matters concerning price, place and product. It also ensures that the public is made aware of any upcoming promotion activities which are geared towards advertising a product or a service of the business.