Identify your favored advertisement? With the understanding you have learned, have you identified a new favorite advertisement?
• summarize your favorite ad. Describe why it is your favorite based on information you learned this week. Explore and explain what the intent of the ad is and why this ad works.
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Getting the Right Channel Getting your product to the right place at the right time at the right cost is critical to the survival of a business. Now that you have passed the halfway point of the course you need to start to understand how the product gets from the seller to the consumer. Distribution Distribution channels are the methods that get the product into the consumer’s hand. There are a few key words to learn, the supply chain is each stepping stone of getting the product from its raw goods into the saleable product. Every company that supplies part of the raw materials is avendor to the company that manufactures the product. The packaging company, shipping company, delivery trucking company and even retail store are a part of the chain that gets the product to market. Any broken or weak links can cause a delay – get it – links and supply CHAIN? (Anyway … let’s continue). Logistics Companies use a logistics company to deliver their product from a warehouse or factory to a store or the consumer. Logistic companies have made a business out ofone link of the supply chain, they deliver things. Their goal is that a truck takes a full load to a place and then picks up a full load and brings it back or takes it someplace else! As you think of your product or service idea for this course, keep these things in mind. You might come up with a new business! Direct marketing is another way that businesses can sell their product. Since the evolution of the internet (e-commerce) it has become easier for a small business to look like a large company. They can have a fancy online presence (web site) and ship directly to the consumer. Large companies use e-commerce and the internet to request products (a Purchase Order) and requestpayment (Invoice). Push or Pull Some products are demanded by the consumer and others are set out there by the manufacturer in the hopes of selling the product. These concepts are called pull (consumer says ‘give it to me’) and push (company says ‘here it is – buy it’) Do you know the idea behind retailing? You have a store or a web site, where you buy products, display them (marking up theprice) and then sell them (re-sale = re-tail) for a profit! If you have a great idea of how to sell things (products like food or services) you can even sell the WAY to sell things. This is called franchising – when you franchise something that means that you sell the idea of what the brand, store, logo or whatever, looks like to an investor that promises to sell things in the same way that you teach him to sell it! Anatomy of an Ad How do you sell your products? You ADVERTISE! Advertising is how a company tells the consumer about the brand, product or service. It can mean, radio, tv, magazine,mail,email or internet. It is the way you entice the consumer to purchase OUR product rather than someone else’s and it is the way you convince the consumer that they need or product (whether they knew it or not!). How do you advertise? Who do you target?
