Advertising

Simply stated, advertising tells the target market that the right product is available, at the right price, and at the right place and time. Advertising is defined as any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor. It includes the use of such media as magazines, newspapers, radio and television, signs, and direct mail (14). The most common vehicles of advertising used by food companies are network and spot television, radio, and magazines. According to one source the food industry is expected to be the biggest ad spender in 1990 with a budget of $8.4 billion, according to a study by Schonfeld & Associates of Evanston, 111. The 107 publicly owned restaurant and fast-food chains are forecast to spend 8% more this year, to more than $1.5 billion. Supermarket chains will raise spending by 5.6% to $1.8 billion, with Kroger Co. the biggest at $225 million. Ad spending for health and beauty aids is expected to rise by 11% to more than $11.2 billion with Bristol-Myers Co. leading the way at $1.1 billion (15).

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