Economic Project : Quantitative Methods For Business Essay

The competitive nature of business resulted in the imaginative use of advertisements. They could incorporate items, events and people that resonated well with their target market to boost sales. This led to the rethink and expansion of the advertising industry. It now consists of the businesses that need to advertise, agencies that create them; involving visualizes, designers, production managers, researchers and actors, and the media that transmits the adverts. A sizeable portion of many businesses’ funds is

Advertising or Ad, is a business in trying to persuade the people into buying products and services from producer, Rhetoric is the art of persuasion. These two types of persuasion are have created a strategy that a lot of companies in societies today are using it. One of the most famous companies that’s using it is McDonalds. McDonalds is one of the most popular(well-known) fast food companies on the world. It is known to its French fires and Hamgures Its main goal is to serve food with good standards and ensure customer satisfaction. McDonalds have Highly achieved sales of products and services is trough Advertising.

Yes, the advertising expenditure have statistically significant effect on sales. Since the p-value for the variable A, has a value of 0.0128, which is less than 10%, the results are statistically significant at the 10% confidence level.

In spite of this, revenues for that year increased. This shows that advertising costs do not have to be increased every year. If management is very strategic in its advertising campaign, the company can continue to increase revenues even if advertising costs are reduced.

The success of companies relies on the number of consumers that each business maintains. The one for sure way to acquire consumers is by enticing the party to become interested. Word of mouth can only get businesses so far, which is why advertisements are a key point to accessing the target market on a broad margin. The most effective way to advertise to consumers is by promoting specific ideas and thoughts through commercial advertisements. All commercials are found in-between something, in-between YouTube videos, television shows, and radio shows. The most important element to advertising a product is conveying to the consumer about why one should purchase the product. Commercial advertisements ultimate goal is to sell the product to the

Chapters two and three of this book reviews the concept of advertising to consumers and strategies of a marketing plan. In addition, the chapter reviews the steps necessary to a successful marketing planning and the

Advertising has had a major impact on society. Some may be considered positive and some negative. Take a look around, advertisements are placed everywhere, television commercials, billboards, newspapers, and even on the sides of buses. Advertising is the basic form of marketing and trading throughout the world. Today’s society knows it as marketers trying to influence or persuade consumers into buying something. It also serves as a medium for services and businesses. There are many advertising strategies, but television commercials will always remain the number one strategy. Think about it, how much television is watched a day, probably a lot. What better way to advertise a product or service? Advertising has a positive effect on our economy. It does not only influence and persuade consumers, but it also benefits them in many ways. It also benefits manufacturers and their company, and the world as a whole.

CH 4. 1. The director of marketing at Vanguard Corporation believes that sales of the company’s Bright Side laundry detergent (S) are related to Vanguard’s own advertising expenditure (A), as well as the combined advertising expenditures of its three biggest rival detergents (R). The marketing director collects 36 weekly observations on S, A, and R to estimate the following multiple regression equation:

Modeled as a two phase effort, this research project will initial employ quantitative methods to determine if a statistical significant relationship exists between how advanced and economy is and the age of its population. Two data sets will be analyzed with frequency analysis, bivariate linear regression, and hypothesis test based on interval analysis. The second, qualative phase of this research effort will employ a content analysis if authoritative literature sources designed to seek out links between older populations and current socioeconomic issues of importance affecting advanced economies today, and which will affect developing economies in the future.

Thesis: Advertising strategies that lead to the highest product sales are the ones that utilize effective branding and represent products honestly and clearly, capture the viewers’ attention, and remain in viewers’ memories.

1. (a) The advertising campaign that increases sales significantly would increase the value of the firm. This is the case because the more sales a firm has the more profit it can make. It can also raise the price per item being sold as there is a high demand for the item. However, this value increase might be short-term and the firm should avoid making any drastic changes. According to Nariman K. Dhalla, advertising should increase profits overtime, managers should use advertising as an investment to evaluate customers’ buying tendencies by analyzing the firm’s past performance (1978). Therefore, to secure an increase in profit, the firm would need to note the advertising campaigns that have worked and change them to keep up with the changing customer.

Businesses are always figuring out new trends that can help them reach the people who are most likely to buy their products and services using the most cost-effective method possible. Advertising is certainly one of the major things that businesses use to influence consumers’ behavior since it is something they can control. Even though some influences are temporary, others are enduring. However, whichever the case different influences affect the way consumers behave whether they influence them to make a single purchase, buy more products or purchase nothing.

Kover et al. (1995) defines effectiveness in advertising as ‘‘the ability of an announcement to produce interest in purchase or use the good or service it is promoting’’ (Kover, Goldberg and James, 1995). Many researchers have tried to establish a link between the content and effectiveness of advertisements, and this will help us to identify some general factors that affect advertising, in order to recognize which one can maximize the desired effectiveness.

This section reviews studies that addressed the problem of determining the advertising effect of a firm on the sales of its competitors, based on the model used to describe the dynamics of the advertising-sales relationship.

“Advertising succeeds or fails depending on how well it communicates the desired information and attitudes to the right people at the right time and at the right cost.” (Fill 2002)