=+LO1 Explain the differences between product advertising and institutional advertising and the variations within each type.

Product advertisements focus on selling a product or service and take three forms: (1) Pioneering advertisements tell people what a product is, what it can do, and where it can be found; (2)

competitive advertisements persuade the target market to select the firm’s brand rather than a competitor’s; and (3) reminder advertisements reinforce previous knowledge of a product.

Institutional advertisements are used to build goodwill or an