Economic Concepts Worksheet
Gina Gaumer
Concept
Application of Concept from Personal Experience
Reference to Concept in Reading
Advertising
At Papa John’s Pizza Advertising is our main focus when it comes to brand awareness and sales building. Advertising makes a significant impact on our daily, weekly, and monthly sales. We do a lot of targeted marketing to enhance our regular marketing plan. This enables us to track almost every bit of advertising that we are doing. For example when we use mail south that days sales are double what the normal sales are. Also when we do local store marketing we see immediate results. We use different tracking methods to analysis each marketing technique. The plans that I have put into effect in the past two weeks have already taken a dramatic effect on sales.
Significance
“Advertising is the paid communication of firms and other organizations directed towards consumers and the broad society.
TV and radio spots, billboards, paid spaces in the press and other means are used to vehicle key messages about products, brands, brand values, and identities. The typical expected effects are to raise sales, to maintain them over time, and to improve the general image of the firm.
Advertising follows logically after listening to consumer requirements, introducing productive conditions, distributing the goods. However, the actual sequence - and emphasis deriving from the diverse sub-cultures - can be quite differentiated.
Massive advertising is typical of big oligopolists operating in a large consumer market (e.g. Coca Cola and Pepsi Cola).”
(Valentino Piana 2005,p1)
Customer, Employee, Stockholder (Equilateral Triangle)