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Commerce Branch - Aids to Trade

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The following are the aids to trade which we can also call commercial services:

  1. Transport - this is moving/ ferrying/carrying/delivering (these are basically the synonyms to help you understand what this aid to trade is all about).
  2. Warehousing - this is storing/keeping.
  3. Insurance - cover.
  4. Banking - safekeeping of money/provision of safe custody.
  5. Advertising - inform/showcase/publicise/give awareness/persuade.
  6. Communication - inform/contact/transmit.

Aid to trade

Problem solved

Transport

distance

Warehousing

Inadequate storage

Insurance

risks

Banking

Finance problems

Advertising

Lack of awareness/information

Communication

Lack of contact



Advertising

Advertising is a form of communication which attempts to persuade potential customers to either purchase or consume more of a specific brand of product or service.

What are the common aims of advertisement?
  • Higher sales,
  • Information on upgrade or change in product,
  • Introducing new and better products in the market,
  • Spreading the brand name,
  • Improve the company's image/reputation.
Types of Advertisement
  • Informative Advertisement 
    • informing the public of a new product(s)
    • aimed to create demand of a new product.
    • For example: a new car launch or the tech annual tech keynotes.
  • Persuasive Advertisement
    • Telling people that a particular brand is superior to all other brands.
    • selling promises to the public in order to lure many potential customers.
  • Reminder Advertisement
    • to remind people of existing products
    • For example: Ads are repeated again and again.
    • aimed to draw attraction of customers.
  • Competitive Advertisement
    • it is carried out by various producers encouraging the public to buy their brand. 
What are Advertising tools/devices?
These are techniques used by the advertiser in his/her promotion to appeal their target market, develop their interest, activate their desire and introduce action.

Advantages and Disadvantages of Advertising Media

NEWSPAPER

Advantages

Disadvantages

  • Wide coverage

  • Daily circulation

  • Different rates depending on size and location of ads

  • Low cost per exposure

  • Reach literate people only

  • Wasteful circulation

  • Short life

  • Poor quality advertisement

  • Doesn’t have audio/visual impact


MAGAZINES

Advantages

Disadvantages

  • Long life

  • Better quality (compared to newspapers)

  • Targeted to particular consumers

  • Low cost per exposure

  • Inflexible

  • Infrequent

  • Suitable for literate people only

  • Doesn’t have audio/visual impact


RADIO

Advantages

Disadvantages

  • Wide coverage 

  • Audio impact

  • Can reach illiterate people as well

  • Targeted (there are ads between programs)

  • Low cost

  • Exposure life is very short

  • No visual impact

  • Ads fail to get attention

  • Becoming less popular


TELEVISION

Advantages

Disadvantages

  • Has both audio and visual impact

  • Wide coverage

  • Fails to get attention/full attention (especially when there are ads between programs) 

  • Wasteful circulation

  • High absolute cost


SOCIAL MEDIA

Advantages

Disadvantages

  • Free content

  • Targeted to a particular audience

  • Low cost for advertising (generally) and exposure

  • Can reach a global audience (wide coverage), opening doors for an international market

  • Many issues concerning consumer privacy

  • Fails to get full attention (especially when there are ads between content)





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