The Strategy Behind Advertising
Advertising is more than just telling people about a new product. There's a lot of strategy involved that takes into account demographics, trends, and consumer preferences. Looking at the fast-food chicken market shows just how tough it can be to win over the palates of consumers.KFC, formerly known as Kentucky Fried Chicken, has lost some of its former dominance in the fast-food chicken market to franchises like Burger King and Wendy's, both of whom have introduced chicken items on their menus with notable success. Now, the New York Times reports, KFC is responding with an aggressive campaign to market a new product aimed at reclaiming some of its former glory.
Its new product is called "Flavor Station" and features chicken dipped in one of three flavors, including "honey barbecue", "sweet and spicy", and "fiery buffalo." Many advertising executives like Ron Paul applaud the new campaign. Paul is quoted in the New York Times as saying the new product "makes a great deal of sense," particularly its emphasis on giving customers a menu option that is customizable. Others say it's risky, pointing to the company's earlier and only moderately successful efforts to market new products.
Business School and Advertising
You can learn about the strategy involved in advertising in business school. Many programs offer specializations in various business topics, such as marketing and advertising for example. In these programs you'll learn how to conduct market research and use it to develop and promote new products. You'll also learn how to manage teams of creative people involved in advertising, those who come up with catchy slogans, flashy images, and music to accompany commercials and radio ads.The business of advertising can be fairly cut throat, but it's a great area for someone who loves competition, pressure, and the rewards that come from winning a chunk of a well-served consumer market.
