Special Report on
Persuasive advertising and product differentiation
Persuasive advertising and product differentiation - Trends
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”What makes the advertising issue fascinating... is that it is fundamentally an issue in how to establish truth in economics.” (Phillip Nelson, 1974a) By its very nature, advertising is a pervasive feature of economic life. It is an increasingly important tool in strategic interactions in competitive markets. Whether the role of advertising is to enhance the image of the product in the eyes of consumers and change their preferences, or to inform them about the release of a new product in the market, or rather to provide information on prices or qualities of existing products, an important question puzzles the economists: Why do ...
There is a concept in business that we marketers call the confidence gap. The confidence gap is defined as a potential customers inability to determine whether the products or services of a given company are any better, different, or worse than the competition's. The confidence gap exists in every imaginable industry and in most cases the gap is growing wider all of the time. Case in point: go to the yellow pages and look under the roofing section (or any section for that matter) and see for yourself if, plus or minus 10%, every ad says basically the same thing. 'Dependability, ... Read More