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    1. quickstop is offline

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      #1

      Advertising at popular events - is it effective?

      Do you think it's really an effective marketing strategy to advertise your products/brand in popular events. I notice that several giant companies never miss popular events like World Cup 2010 to advertise on.
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    2. WholesaleForum's Avatar
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      #2
      Sorry to say but your question seems quite silly. Do you have the budget to advertise at the World Cup? Does the event attract the type of buyers that you are targeting? Are you trying to build a brand name? Will you get a return (in the short or long term, either in sales or goodwill)?

      Your question is too generic. Events are a great way to raise awareness about your brand, products or services. But you must evaluate the cost / return ratio.
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    3. Keith is offline

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      #3
      I agree. We should need to have a large amount of budget to advertise on such events. Only big companies could afford such advertisements.

      But if you have a local event in your own place then I guess you can make use of giving out leaflets or posting a banner where you think people will pass through.

    4. quickstop is offline

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      #4

      Quote:

      Originally Posted by WholesaleForum View Post
      Sorry to say but your question seems quite silly. Do you have the budget to advertise at the World Cup? Does the event attract the type of buyers that you are targeting? Are you trying to build a brand name? Will you get a return (in the short or long term, either in sales or goodwill)?

      Your question is too generic. Events are a great way to raise awareness about your brand, products or services. But you must evaluate the cost / return ratio.
      Yeah, you actually are right, it's a generic question. I want to know if those big companies really get the expected result from such campaigns. But thanks I got the point. So this type or campaigns is best for build your brand. Though, I agree with Keith to start with local events in our location. Thanks.

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      #5
      Measuring goodwill (brand value) is not an exact science, it's costly and you may want to go through such an expense only if you are planning to sell your brand or if you are trying to prevent your brand being taken over by other stockholders.

      There are different measures of a brand value, investing in creating a brand name makes sense if you are trying to strengthen one of the following factors:

      Price premium:
      How much is a consumer prepared to pay in comparison with competing brands. Coca-cola traditionally commands a price premium of 15% or more over its rivals. For cheaper goods and services the lower price can be a positive in terms of equity, if it translates into higher revenue through market share.

      User Satisfaction/Loyalty:
      Usually measured through regular surveys and for certain goods and services includes repeat purchase.

      Perceived Quality:
      Can be measured on a number of scales, high low, best in class, consistent versus inconsistent, premium, average, low. Good idea to get a steer on how important it is in the specific purchase.

      Leadership:
      3 dimensions. “The number 1 syndrome” the top, the biggest market share etc. 2. Growth rates, etc. the fastest selling, the one that's “cool” to have. 3. Perception of the underlying organisation, the most modern, the most technologically sophisticated.

      Perceived value:
      Two approaches to value. Represents the best value for money. And is there a reason to buy this brand over the others?

      Personality:
      Does the brand have one, is it an interesting personality, does it reflect or resonate with the user.

      Organisation:
      Is there a visible organisation behind the brand with a strong presence. Such measures as an organisation I can trust, an organisation I admire, or would be proud to work for.

      Brand Awareness:
      Starts with recognition - I have heard of it, through recall - I remember it, to “first mentioned” brand and consideration - I would consider using it. Brand awareness drives everything, but remember bad news can drive brand awareness.

      Market Share:
      What it is, how it is moving, what you want it to be?

      Price & Distribution Indices:
      Price indices = average of price of sales and share of total category revenue. The percentage of people who have access to a distribution point.

    6. Thank you for this post:

      Swenson Sales (16 Jul 2010)

    7. Keith is offline

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      #6
      Those points are really important in starting a business. I'm interested in market share, how do you increase your market share by not lowering your price so much so that you will only have break even? In other words, how do we compete with established businesses already?

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