Market Place

Market Place

Who controls the Market Place? Consumer or Advertisements

Consumers and Advertisements are extremely inseparable, their relationship can be said to be symbiotic. Each depends on the other for survival but apparently one has the upper hand while the other one is the underdog playing at the whims of the other

Consumers rely on Advertisements to keep themselves informed on any new products entering into the market place. Consumers, through advertisements are informed on where the new products or any other products can be found, it is not uncommon to find prospective buyers contacting the media which has relayed a certain commercial enquiring on where to get the product particularly when the advertisement has not been properly done.

Consumers still would like to know through the commercials the merits of using a certain product and hence rely on the advertisements to get the information. In most cases advertisers capitalize on this giving the “merits of using the products over others” others here being similar products being manufactured by rival companies, this is well put in the book Modern Advertising by F Jenkins.

Advertisers also cleverly coin advertisements informing the people on purported users of the products who have benefited after using the products , other ways in which advertisers cash in on the consumers is when they make some improvements o the products for instance, New Fragrances on Toilet soaps, herbal extracts on lotions .

Market Place

On the other hand Advertisements do not rely much on the consumers, this is because the consumers usually do not have a choice other than to buy that which has been advertised on their screens, radios, cinemas and billboards standing on busy highways and tall buildings.

However the Advertisers do rely a little bit on the consumers, they need the consumers to believe what has been advertised, remember consumers do not have many ways of enquiring about the authenticity of the products advertised and when they do, answers are clearly not forth coming, consumers do believe the advertisements and they help the advertisers to stay in business, no wonder the advertising business is a prosperous one, the bottom line is that advertisers control the marketplace.

Brand Loyalty

Brand loyalty can be defined as a consumers increased tendency to purchase a particular product without any queries, the consumer usually feels and believes that the product offers and gives them satisfaction and meets all their requirements and hence they have no reason to think about any other product.

A brand that has continually stolen my heart for a very long time is Eveready Batteries (Dry cells), this brand must have been introduced to me by my family members, my mother has been using these dry cells since time immemorial, The way I have come to know Eveready batteries is that they do no leak ,Eveready was the only brand of dry cells in late 80’s but with time other brands have come up, my loyalty in the batteries have been unwavering , this is because they have in my view provided what I would call a satisfactory meeting my expectations day in day out .Eveready Company has been doing tremendous marketing through advertising , corporate social responsibility which as have been examined been not only thorough but also well thought commercials which are also interesting and makes me a s consumer to keep on buying the product.

Market Place

Mook and Midriff, do they exist?

Mook and Midriff are nicknames given to today’s young men and women and as they are exhibited in the press.

Mook, a male, and Midriff a female mostly in colleges are portrayed as wayward in their behaviors and who are obsessed with their looks.

These two characters do not exist since it only through cultures that the young identify with that the old can get to have their ideas considered, they cannot be ignored. Not in the modern world

References:

MTV base (2008) Modern Advertising by F Jerkins, retrieved on 9thn July, available at www.m tvbase.com:www.imta.com

Stratton (1999) Economics: A New Introduction, McGraw Hill Publishers, New  York

Philip Hardwick (2004) Introduction to Modern Economics, Pearson Education Press, UK