midterm terms

midterm terms - Midterm Study guide Terms +Essay Prep...

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Midterm Study guide Terms +Essay Prep 100,000 Guinea Pigs: A book published in 1927 about the drugs and cosmetics industry. It is about how the industry does not test their products before they market them, and they do not know what the product is going to do to the consumer. The point of the books is that advertisers are untrustworthy at best. Ballywho Magazine: Late 1920s. It was kind of like a MAD magazine, with parodies of advertising. It was helpful in driving home the idea that you can’t trust advertising. Julius Rosenwald: Started out as a pants producer, but became Mr. Sears’ business partner after Roebuck left the business. Rosenwald could be considered one of the first ad men. He created a profit sharing plan for the company that allowed the employees to be involved in the stock process and he tripled Sears sales. Can be considered to be the first ad agent. Francis W. Ayer- In 1869 opened NW Ayer and Sons in New York. Adopted Rowell’s approach of ad space. Set his commission at 15% to give the advertiser the benefit of a discount and his shrewd bargaining. Added the “open contract.” John H. Johnson: In 1941 he launched Ebony Magazine. His was not the first black magazine, but he was innovative and successful because he modeled it on the successful white magazine. His first magazine, Negro Digest , was modeled after Readers Digest , but contained stories pertaining to African-Americans. Ebony was modeled over Life magazine. He was also successful because he tried to reach an audience of African Americans who had accomplishments like him. Middle Class, educated, cars, houses, and leisure time. Advertising revenue: Johnson chose to be selective in the advertisements that he chose, but this caused problems- new and black oriented. Johnson’s observations on money and consumption- editorial on why Negroes buy Cadillac’s. After it was successful, Ebony was alucrative market for advertisers- reached a critical market- middle class African Americans. George P. Rowell: 1885- Started “Printer’s Ink”, which was a weekly journal that guided advertisers for the next 40 years. It had info on the methods of advertising, economic matters and it provided an industry. He divided ad space into smaller increments and sold them at a higher price to clients. This is however still lower than they would have played otherwise. He would take 25% commission and agreed to pay cash to anyone who would give him a 5% discount. He also published the “American Newspaper Directory” which gave fair value to media space, and provided the exact circulation numbers for newspapers. John Wanamaker: Started Wanamaker’s in the late 19 th century. John Powers wrote honest advertisements for the retail store, saying that if you are not satisfied, you can get your money back. Wanamaker’s was located in Philly. In the 1880s the sales figures doubled from 4 to 8 million because of advertising. John Powers:
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midterm terms - Midterm Study guide Terms +Essay Prep...

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