JOUR 250 Lecture Notes - Lecture 6: Institute For Operations Research And The Management Sciences
31 Jan 2018
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Document Summary
Advertisers face a variety of economic, social, ethical, and legal issues society determines; offensive, excessive, and irresponsible gov determines; what is deceptive and unfair issues in ads: companies risk criticism; Proper role of gov. effect of adv. on the brand value of products. Gives brand added value increase in worth of a product or service provided by communicating benefits over and above those offered by others. Creates a positive image that makes a products more desirable to consumers. Educates consumers about new uses for a product. Allow consumers to communicate who they are through products they use effect of advertising on products. Enables mass production, which lowers the cost per unit of a product. Regulated industries see no price increase associated with ads. Retailing contributes to both higher and lower prices advertising on competition. One is not large enough to dominate ads. Freedom to advertise encourages more sellers to enter market.
