Advertising and Advertisement Quiz

Advertisement

• Advertisement: a notice, picture, or film about a product, job, or service
• Professionals survey greater products to create effective advertisements
• Designing taglines, mascots, and visuals is a tough job
• Established brands promise quality and have distinct symbols, logos, and slogans that create a public impression

Modes of Advertisement

• Modes of advertisement: television, hoardings, or newspapers and magazines

Making of Advertisement

• Steps to make an advertisement:
  • Select a product
  • Determine the class of people to target
  • Design an odd campaign

Markets

• Market: a place where buying and selling takes place
• Market system: producers, sellers, and consumers are key players
• Raw materials are sent from farms or mines to industries or factories for finished products

Types of Markets

• Wholesale markets:
  • Bulk buying and selling
  • Cheaper goods
  • Instead of showrooms, they have godowns
  • Low investment
• Retail markets:
  • Small amount of buying and selling
  • Cater to people in the neighborhood
  • Price more than wholesale

Selecting Markets

• Factors that impact a consumer's choice of market:
  • The item to be bought
  • Money to be spent
  • Best deals or bargain available
  • Convenience of shopping
  • Brands and quality of products sold
  • Proximity to the market

Chain of Markets

• Chain of markets:
  • Towney of goods/escalation of cost (e.g., onion)
  • Former (local mandi) → local mandi (wholesaler) → city wholesaler → retailer → consumer
  • Each step increases the cost of the product