Business Research for Decision Making
The primary objective of this research effort is to study the comparative effectiveness of the various modes of advertising for a Chocolate Candy Store and to recommend a course of action for Choc-au-Lait. ‘Effectiveness' for the purpose of this study is defined in terms of impact of advertising on the purchase decision of the consumer. This work should help to identify opportunities that will directly benefit Choc-au-Lait, i.e., increased customer base, increased market share, higher revenues, greater profits, etc.
Below is a list of all points that MUST be included in the body of the paper, as well as ALL questions should be answered. 2 pages minimum. 3 scholarly references minimum.
• Introduction to TV advertisement
• How is TV advertisement relevant to the chocolate/candy industry?
• How can TV advertisiement impact purchase decisions of the consumer?
• Appeal of TV advertisement
• Limitations of TV advertisement
• Budget Cost to implement TV advertisement
• Source and references
• Please note you are not researching TV advertisement in general but specifically to the area of a chocolate candy store, therefore, the research should focus on what is out there in the chocolate candy store industry. The research should show whether that particular method is effective compared to other advertising methods such as social media, web pages, and billboards.
Below is some interesting numbers and facts that can be included in the research paper. The refence for the quote is also listed below. Thank you.
"18%: Proportion of TV advertising campaigns generating positive ROI 54 cents: Average return in sales for every $1 spent on advertising 256%: The increase in TV advertising costs (CPM) in the past decade 84%: Proportion of B2B marketing campaigns resulting in falling sales 100%: The increase needed in advertising spend to add 1-2% in sales 14%: Proportion of people who trust advertising information 90%: Proportion of people who can skip TV ads who do skip TV ads 80%: Market share of video recorders with ad skipping technology in 2008 95%: The failure rate for new product introductions 117: The number of prime time TV spots in 2002 needed to reach 80% of adult population - up from just 3 in 1965 3000: Number of advertising messages people are exposed to per day 56%: Proportion of people who avoid buying products from companies who they think advertise too much 65%: Proportion of people who believe that they are constantly bombarded with too much advertising 69%: Proportion of people interested in technology or devices that would enable them to skip or block advertising Source: US figures, various sources14 H6634-Prelim (Kirby & Marsden, 2006 )
Limitation of TV adds:
"Television ratings continue to decline, personal video recorders enable viewers to zip past TV ads, and commercial-free satellite radio is shaking up the radio industry. Consumers are demonstrating with their remote controls and their wallets that, given a choice, they would much prefer not to have their entertainment experience interrupted" (Kirby & Marsden, 2006)
Reference
Kirby, Justin, and Paul Marsden. "Connected Marketing." (2006): n. pag. Web. 9 Nov. 2016.