For Whom Wealth Matters
June 15, 2012
Filed under Entrepreneurship, Theory
Tagged with Advertising, Henry Ford, Henry Ford on Advertising, Henry Ford Quote, postaday
About Keerthika SingaravelEngineer,Investor,Businessperson
There is emerging a new type of advertising that targets a specific identified market, than the scatter-gun approach as practiced of old.
Are you referring to the sort of ads we see on the internet?Have you had real life success promoting your business using these ads?
Yes, but also plain newspaper advertising. I admit I use both old and new types of advertising. For instance one of my board games has a historical market, so I place my product into fairs where the historically-interested people are.
Are you able to convert over fifty percent of your leads to sales?
Not with the old fashioned method.
What sort of conversion rates do you manage with the new online ads?
After a poor scattergun approach I pulled back from online advertising to develop my brand. When I attack again it will be multi-pronged “real life” and online attack to capture a specific market. The brand was my problem.
What is your take on ethical advertising? I’m very concerned about the out-of-control advertising that people (especially children) are exposed to today simply because it is one of the primary drivers of consumerism – the thing I see as the fundamental root cause of all of our serious environmental, economic, societal, personal health, personal finance and life satisfaction problems.
Schalk I see the issue as one of getting people and even little children into the habit of critical thinking.Today we live in a world full of information.So we all need to be able to to distinguish between motivated communication versus more balanced and neutral views.Absolutely no communication can be totally bias/value free.So what is required is getting people to focus on being aware of values-their own,that of their society and that of other people.After that it’s more about what each of us chooses to believe and finding ways of interacting and living with people who believe otherwise.
I am not very much in favour of government or for that matter a great deal of social regulation of thought and communication even in advertising.I believe it leads on the imposition of majoritarian views on the minority.And worse,in building a majority view there is bound to be a great deal of oversimplification.
To consume excessively is a personal choice,no matter how attractive the ads.As long as there is no outright misinformation such as claiming that something is GMO free when it is not,I’m not for intervention.Industry labels accurately and adults and the guardians of minor children take the responsibility for their own actions.
Today people want too much spoon feeding and are willing to take too little personal responsibility.
You make some good points and I agree with you completely on the sad lack of personal responsibility in this age of big government and conformism. Free, independent, critical thought is the ultimate answer, but unfortunately, it seems like we are moving further and further away from this every single day thanks to the massive influence that the TV and the mass media have on the formative years of our children.
People are therefore incredibly susceptible to advertising and, barring a complete economic collapse, will be unable to resist by exercising their free will. The lies portrayed by the advertising industry, the biggest and worst of which being that more consumption will bring happiness, will therefore just gain strength in the future.
I would really like to believe that people are capable of using their free will to consume responsibly, but unfortunately, the vast majority of us simply are not. If something is to be done therefore, it will have to be done through regulation of the advertising industry. There is just no other choice. Ironically, I have a feeling that sustainable consumption will have to be advertised in the near future like McDonald’s is advertised today if we are to have any chance of safely navigating the 21st century.
As you point out, advertising a sustainable lifestyle is a beginning…..and in India, Gandhi and the Gandhians did at one time pursue it.Only after Gandhiji,they were small men who lacked the Mahatma’s open mind,breath of vision and ability to build a consensus,so they lost relevance as they couldn’t see past vegetarianism,specifically cow slaughter and wearing khadi homespun.
In class 11 (Junior College) ,when students are about 16years old,our English language coursework had some exercises on distinguishing between fact and opinion.I don’t see why the educationists in India sought to introduce these exercises so late.I think younger children could do these exercises and by introducing them early on with some practical coursework involving newspapers,magazines,radio,internet TV etc.we could equip children to live better in the Information Age.And no reason why this exercise should be introduced only for English medium students…..
In India,at least in the English medium schools run by missionaries, we have Value Education/Moral Education classes.Will something like that help matters?Get children to reflect and understand what brings them happiness and why?Make them see how material comforts are a blessing but how by overdoing it we just make our lives a burden.
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