The effectiveness of a newly developed television ad on its sales.

Sales on ads regression results in a value of 350. This figure will be used by the company to project how the number of weekly television advertisements will change when it is increased to 20.

What is the anticipated change in Sales when Ads increase from 5 to 20 based on these results?

When Ads is 5, Salesi equals +350(5)+Ui S1, and Salesi equals +1750+Ui

Sales are equal to +350 (20) +UI S2 when Ads is 20.

Change anticipated = S2 – S1

= (α+ 7000 +Ui) – (α+ 1750 +Ui)

= 5250

Why should we not be confident in our Part A result?

The efficacy of the message is diminished when consumers see television advertising frequently. Time restricts the message’s visibility as well, particularly for viewers of linear television. However, it could be pricey to purchase a 30-second commercial for local television that airs during local programs or a designated local spot during daytime or prime viewing hours. Companies must first pay for the content’s production in order for television advertising to be successful. If no one in-house has the necessary skills, one might be obliged to engage a scriptwriter in order to develop a TV commercial. A spokesman and on-location performers might be required. To combine the many takes that are filmed, film editors are required. If so, one might need to collaborate with an advertising firm to pull together this talent before beginning.

Even if your local TV station has internal production resources, getting started could be very expensive.

What can you do to find a more reliable estimate of the impact of increasing Advertising from 5 to 20?

Word-of-mouth advertising can be successful, based on what I studied in a marketing management class. Word-of-mouth promotion has the potential to be successful. It possesses the desired traits of excellent credibility, high levels of audience focus, and warm audience reception. It includes a series of questions and answers about the product’s psychological sales tactics as well as its memorability, effectiveness, and frequency. At little to no cost to the company, word-of-mouth marketing disseminates product information to a large number of additional potential customers (and may even include promotional trial demonstrations and free samples). A small firm should develop an advertising strategy that encourages word-of-mouth promotion whenever it is practical.

Your best marketing tool is happy customers.

Effective advertising helps people remember your name, according to https://www.bizfilings.com/toolkit/research-topics/marketing/advertising-pr.

References

Advertising & PR (2021). Effective Advertising Makes People Remember Your Name. Retrieved on 18 April 2021 from https://www.bizfilings.com/toolkit/research-topics/marketing/advertising- pr/effective-advertising-makes-people-remember-your-name

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