Commerce Branch - Aids to Trade

 

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)