February 10, 2011

How Do You Advertise?

Since I am taking a marketing course I was wondering what kind of advertising there is out there. At entrepreneur.com I found this list:
  • Outdoor advertising/billboards: These reach more people for a dollar than any other media, but are limited to a picture and no more than eight words.
  • Radio: Reaches the second most people for a dollar, but cannot be targeted geographically and can only be loosely demographically targeted. But if people will drive significant distances to buy your product, or if you're selling a "we come to you" service, this is likely your best bet.
  • Cable television: Offers the impact of moving images as well as spoken words. Can easily be geographically targeted. But your ad will likely look homemade.
  • Broadcast television: Big prestige. Big bucks. But able to target psychographic profiles. Buy specific shows; never buy a rotator.
  • Newspapers: Reach customers who are in the market to buy today. Unfortunately, people not currently in the market for your product or service are less likely to notice your ad than if it had appeared in another media.
  • Magazines: Expensive, but high-impact with tight targeting. Little waste. Weakness is infrequency of repetition.
  • Direct mail: Highly targeted, all the way down to the level of the individual. But shockingly expensive to do right.
  • Yellow Pages: Essentially a service directory for the customer who has not yet made up his or her mind. Very foolish for retail businesses.
  • World Wide Web: Very inexpensive, but sometimes hard to reach target audience.
Is there anything else you can think of to add to this list? Do you think that any of these methods have gone out of style is rarely used anymore?

February 9, 2011

In response to Cameron Drouin. . .

Way Too Many Valentines Day Commercials! For someone who works at the corporation who created this holiday, Hallmark, I completely agree with your statement. Even from a woman's perspective I think that Valentines day is ridiculous. I don't like the message that this holiday entails. To me, people should be caring and loving 365, not just Valentine's day. I guarantee that a woman will find it more romantic and thoughtful if you bought her flowers on some random day, just because you care. Instead, we get these awful commercials telling the general public how much to spend on their loved one - and beware, if you don't get him/her the perfect most expensive gift, then they will think you don't love them. Come visit me at Hallmark on <3 Day, I'll be there selling $5.00 cards and cheap chocolates to the last-minute shoppers. Do you celebrate Valentines Day?

February 8, 2011

Not-For-Profit doesn't have to equal Not-Making-Money

After visiting Country Life Restaurant in Keene, I was curious what a not-for-profit business entails. According to business-law.freeadvice.com, "A 'not for profit' corporation is one specifically formed for purposes other than operating a profit seeking business, such as a charitable, religious, education, or scientific purpose. There is, however, a mistaken belief that all "non-profits" cannot make money." This definition was what I assumed, but I was surprised when Peggy told us how much money they were loosing. I thought it would make more sense to create some revenue to do more events or help out those who might not be able to afford to eat healthy. With all the free technology in the world today I would think that they could easily find ways to help create more revenue or find out where they are loosing the most money. What do you think Peggy should take as a first step in helping turn her failing business around?