The model stock plan

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Monograph

Identifikator:: 1820833348

URN:: urn:nbn:de:zbw-retromon-210730

Document type:: Monograph

Author:: Filene, Edward A. http://d-nb.info/gnd/123562244

Title:: The model stock plan

Place of publication:: New York

Publisher:: McGraw-Hill Book Company

Year of publication:: 1930

Scope:: xiv, 253 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XII. Publicity that meets and beats competition

Collection:: Economics Books

PUBLICITY THAT BEATS COMPETITION 173 in building goodwill, in teaching customers that it pays them to go past other stores to trade with us. We know that goodwill is so valuable that it can ordinarily be sold at a greater price than all the tangible assets of a going business. The reason it is so valuable is, of course, that goodwill makes it possible to earn total profits far in excess of ordinary interest on the investment in business and it does this by bringing in customers for the goods that are not advertised. All the foregoing simply means that whatever advertising we do, even of special lots, results in placing the emphasis both directly and indirectly on the merchandising method that offers our customers every article in stock al such good values, such general excellence of style and quality, in such complete assortments. But what of the customer who regularly does the bulk of her shopping at another store, or at other stores? Sooner or later she is unable to find in her favorite store or stores some article which she distinctly desires. If our adver- tising has been handled well, she will think of our store; she is familiar with our claims that we carry the most complete stocks at the lowest prices. When she comes to our store, she finds conditions exactly as we have represented them in our advertisements. She finds complete assortments at the prices she is willing to pay, more complete assortments than she has ever thought she could possibly find in any store. Very probably we succeed in adding her then and there to our group of regular customers. But if not. we shall eventually get her trade, for she will repeat the occurrence often enough, through the failure of our competitors to meet her needs, so that experience will convince her. Of course, our advertising and our merchandising methods are not going to bring us all the retail trade in our city. Many customers will be attracted by advertisements of our competitors. And when they come to the retail district to shop at competitors’ stores, their routes will lead many of them past our store. Here we have one more opportunity to impress them with the desirability of our stocks; our win- dow displays are our publicity tool for this purpose.

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