The diary game || Advertising vs enterprises|| by @ederra. 10% beneficiary set to steemAlive
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Hello great fans, I have something for us today.
I actually did research on the important of advert to different business enterprises.
I think it's useful, feel free to go through.
Advertising
Advertising can defined as the method of using the mass media, newspapers, magazine etc to pass out an information to the public.
Advertising is a form of information giving that tells the public the details and importance of a benefits of particular product, through the use of persuasion tool.
It's a fundamental factor in the smooth running of the economic structure of a country due to the fact that it influences the social life of the mass living in that country in agreement with there fifferent choice and preference pattern.
advertising is a very powerful marketing tool and communication force that is used by enterprises to draw people's attention through the use radio, bill boards, television, newspaper etc with a paid announcement.
In other for advert to be successfully passed a cross to the public, it must pass through the a group called the advertising industries. This industry is made up of agencies, companies, medias etc, that can convey message with ease.
Objectives of advertising
Below are some objectives of advertising.
- Alarm clock
Advert is the alarm clock used by companies to pass message to the mass in respect to a particular goods or service.
- Direct purchase
Through the knowledge of advert, people now order goods online without the help of a third party.
- Change social attitude
We all know that humans are creatures of high taste. Through advert social attitude to a particular goods can be changed.
- Introduce a Brand
It's through advert that companies oass information about a new brand in the competitive market.
- Differentiation
Some companies produce similar goods. Advert is used in differenciating those goods.
Types of advertising format
Below are the advertising formats used by companies.
- Television advertising format
This is the most effective advertising format in the world today because it's the best known means to get the public's attention.
As it's well known, globalization is taking over the world, which means in every hundred families out there, seventy is expected to own a television.
Advertising through television is good because it doesn't give the public an option to read, because it's virtually inclined and is targeted at the subconscious mind.
- Radio advertising format
It's seen as a method of broadcasting radio waves from the transmitter to an antenna then to the receiver.
Any form of advertising that comes through the radio broadcast is called radio advertising.
Radio advertising is restricted to sounds only which is an advantage for companies to get the attention of active listeners through the use of their favorite radio station in the area.
- Press advertising format
Most adverts are done using printed mediums like newspaper, magazine, journals etc, this type of advertising is called press advertising.
This type of advertising format is less effective in comparison to the radio and television format because due to the use of telephone, people no longer buy papers.
- Billboard advertising format
Billboards are large structures which are placed in open public places that passes information to motorists and pedestrian. In other for a billboard advert to be successful, it must be planted in an open space mostly major roads so it can catch more eyes.
- Mobile billboard advertising format
These are vehicles with mounted billboards that move from place to place passing message to the public about a particular product etc.
It's more advantageous than the normal billboard because this billboard is mobile whereas the later is static.
advantages and disadvantages of advertising
There are so many pros and cons in regards to advertising, few will be discussed below.
Advantages
- Introducing products : advertising is used by many companies to introduce their new product or brands to the market, which in turn activates the public to buy it.
- Expansion of market : advertising helps companies to expand their market size by exploring new market and using new market strategies.
- Education : advertising helps educate the public about the new product and the importance of the product.
- Eliminating middlemen : advertising helps save expenses by eliminating the work of the middlemen which have covered by advertising already.
- Reduce the price of newspaper and magazines : Because of the adverts in a newspaper or magazine, the cost of it's production have reduced since most expenses are been handled by the company .
Disadvantages
- Encouraging monopoly : monopoly can be seen as a method whereby a particular person dominates the market. Advertising can help encourage monopoly in the market because of the fact that most companies are Richer than others, thereby advertise more often.
- Price inflation : due to the much expenses used in advertising, most business enterprises inflate price which of big disadvantage to the poor.
- Restricted access to small business : due to the low availability of money, small business enterprises cannot properly advertise their business.
- Dangerous distraction
When bill boards are placed in public areas, it causes unnecessary distraction which can lead to accident and even death.
- Promotion of social evils : There are some business that are not socially acceptable but are advertised online for the view of the public which can corrupt the youths .
Business
A business can be seen as any organization, enterprise, company involved in commercial, professional or industrial activities.
It can be for profit or non profit making.
A business is for profit making when it's intend is to make gain and non profit making when it's strictly for charity. Every business out there begins with an idea and name in role with the type of business in mind. After wards, research is done to know more about the business and bring the idea to life. In every business, there is what is called a business plan. This plan is a document that entails the goals and objectives of the business and the plans set in place to achieve the objectives.
Forms of a business
Every known business takes three forms which are;
- Sole proprietorship
- Partnership
- Limited liability company.
- Sole proprietorship
This type of business is owned and runned by one person who is usually the owner of the business. But this doesn't mean that he works alone, he employs labourer and pay them for it.
All the benefits gotten from the day to day running of the business is owned by the sole proprietor.
Advantage
- Registration of a business name is always easy unless the chosen name have already been used.
- As a sole proprietor, you can easily use your name as the name of your business.
- You have complete control of your business
- It's very easy to establish.
Disadvantages
- It requires a lot of personal liability to start up. - It's risky when a sole proprietor isn't endowed with enough knowledge to start.
- Selling out product is always a problem of every sole proprietor.
- partnership
This is a type of business owned by two or more individuals or business enterprises who share management and gains.
Partners in this business can be individuals, businesses, schools, organizations etc.
This business is always more profitable than the sole proprietorship because money is generated by the patterns unlike the sole proprietorship where money comes from just one person.
Advantages
- Two heads are always better than one.
- External regulation is always private.
- Paying of loan is always easy since the money come from two source.
- The affairs of the business is always private.
Disadvantages
- Argument always sets in.
- Liability of patterns for debt is always unlimited.
- Each pattern is another body of itself so they must learn to tolerate each other which is always hard.
Limited liability company
A form of business organization with the liability-shield advantages of a cooperation and the flexibility and tax pass-through advantages of a partnership.
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In this form, companies align as partners and work towards a common goal.
Advantages
- There is no ownership restrictions in limited liability business.
- They always have the advantage of using cash method of accounting.
- They can handle losses because it's a combination of companies.
Disadvantages
- Entities must be very careful to separate their personal business record from that of LLC.
- Taxes for such companies are always huge.
- Start up is always hard when it involves companies that are not monetary balanced.