Analysis Of Sigma Thermal
Companies need to solve the age old problem of choosing which ads to place, how many there is a need for, and which places would prove to me most effective to advertise. Companies spend a significant portion of their budget on advertisements. In fact, $17 billion dollars annually is expended on advertising alone (Shlachtmayer, 2013). With that amount of money spent on advertising, an importance is placed on the optimisation of the effectiveness of the advertisements. At Sigma Thermal, there is much attention on the money spent on advertising, and a big portion of Sigma Thermal sales is selling retrofits, spare parts, and services to existing customers. Though research has been done in the past about the effect of ads, according to Jagpal,
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According to T Chan, high quality advertising campaigns promotes product goodwill and creates price elasticity among the demand for a product (Chan, Narasimhan, & Yoon, 2017). Creating price elasticity in the demand for a product is very beneficial for a company; it allows for the company to raise their prices while not lowering the annual amount of sales. This increases the budget of a company and allows for it to reinvest that to create further revenue growth. With this research done, it is important for redistribution companies to create the most effective advertisements, however, research done by G McAleer shows that in most instances, advertisers are not aware of the major considerations of consumers that go into the choice of the product they purchase in the industrial product market (McAleer, 1974). With outside advertising companies at a lack of knowledge of how to sell products in the industrial product market, industrial redistributors best option is to advertise for
According to T Chan, high quality advertising campaigns promotes product goodwill and creates price elasticity among the demand for a product (Chan, Narasimhan, & Yoon, 2017). Creating price elasticity in the demand for a product is very beneficial for a company; it allows for the company to raise their prices while not lowering the annual amount of sales. This increases the budget of a company and allows for it to reinvest that to create further revenue growth. With this research done, it is important for redistribution companies to create the most effective advertisements, however, research done by G McAleer shows that in most instances, advertisers are not aware of the major considerations of consumers that go into the choice of the product they purchase in the industrial product market (McAleer, 1974). With outside advertising companies at a lack of knowledge of how to sell products in the industrial product market, industrial redistributors best option is to advertise for