Economic2

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University of Nairobi *

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DBA 101

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Economics

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Nov 24, 2024

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docx

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Economics Section 1 of Chapter 10 covers the monopolistic competitor; one tool that firms have in this market structure is advertising. For this discussion, your task is to (answer all of the following): 1. Think about and describe a real-world advertising campaign that you have witnessed. If available, please share the campaign ad in your post (YouTube link, Image, etc.). Make sure ad complies with student code of conduct. 2. Describe the types of media this campaign used. 3. Describe how this campaign meant to differentiate the firm’s product from others? In your opinion, was it effective? Why or why not? I think the best real-world advertising campaign is not the sheer size of the campaign or the sponsors behind it, yet I believe it is how well it can relate to the consumer on a personal scale no matter their business plan. One that really stands out to me a cattle breeder, is from a world famous brahman breeder in small town, Wharton, Texas. Popularly known as V8 Ranch, they may not be a huge corporate conglomerate, but they are a family and faith-based company. They use social media, word of mouth, and newspapers for advertising. Their biggest hits have been their advertisements on youtube on their champion bulls and their “Bull of the Year” videos. They post the winning progeny out of their bull’s genetics to promote how versatile their cattle are to the everyday cattleman, they have won championships all over the USA with their cattle. Word of mouth is so important to them as well, as the way they stand in the industry you can’t be a true brahman cattle breeder without knowing V8 Ranch. Much like a food lover knows their fast food chains like McDonalds. Their advertisement campaign differentiates them from other ranches around the globe in how consistent their cattle are in performance numbers like daily weight gain and how good the quality of their cattle’s meat is once they send it to the processor. They have single handedly brought down a stigma that brahman cattle beef is not of good quality, when people think quality beef they tend to think Angus or Wagyu. Their campaign ads show them on a personal level as they are a family working towards a better future and not a multi-million dollar company using AI and photoshop in their respective campaigns. Their famous slogan is “The Magic is in the Cows,” which I believe is true and speaks for itself. Their following of a proper campaign on a small scale shows their passion to their cattle buyers and beef consumers. Thank you Everyone, I look forward to your Feedback! ? Video Mentioned is listed below

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