Advertising is a way to communicate to customers. It plays a vital role in competition and project management. Aside from being important for the customers to know about the different products available in the market, it plays an important role for companies to increase its sales. It also helps them know about their competitors and plan their course of action to meet up to the level of competition present in the market.
In project management, advertising is crucial for different types of companies to create their quality plan. This is the reason why advertising sets the ground if a company wants to launch a new product. It also creates customer loyalty after reaching a mature age.
The demand and supply become a continuous process with advertising that also encourages project managers to think of techniques on how to improve their products and services more to meet customer satisfaction. Depending on the result of the advertising, companies can work to improve the different aspects of their project management to deliver products and services that will meet the preferences and the standards of the clients.
This project management term is defined in the 5th edition of the PMBOK.