Advertising Agency - Executive Summary
EXECUTIVE SUMMARY
Buying and creating advertising in any media is a time-intensive process reflecting hours of transactions between buyers, sellers, and creative agents. For example, if a buyer wants to advertise in the radio media, he targets a few radio stations with desired listener demographics, discusses contract options with a radio account executive, bids on an ad schedule, negotiates a price, creates ad copy, approves the final ad, and pays for the service. For a skilled buyer, this entire transaction can take up to 3 weeks to complete. For a local deli or sporting goods shop with little or no demographic information, small purchasing power, and less familiarity with radio advertising, this transaction process can take more than 3 weeks and cost the small business more money per ad than large ad agencies. For the seller, in this case the radio stations, the transactions' costs of dealing with such small customers can prove to be cost ineffective....
[The entire page is 1467 words long]
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