Hope you all had a real good start for the new year :). Due to my sudden travel plans I was away from bloggin all these days..anyways Wish you all a very happy new year!
Those of us who have practiced PR will certainly find this true - advertising spend is more than that of PR. Sometimes the spend for advertising is GRAND. Now this does not mean that PR is the cheap thing and may not be of good quality. Its just the connection between price and value. Al and Laura Ries explain that a person would not spend $100 on Timex watch but willingly spend some $3,000 on a Rolex. Higher the price, higher the percieved value by the customer. Al and Laura shared one of their professional experience on this topic. They had a prospect client who wanted them to cut down on the consultancy fees. Al and Laura refused and said no to him. After a week they read in the news that the same prospective client had hired an advertising agency which was not even the worth of what Al and Laura where going to charge him.
Ad man Morris Hite said "There is more money wasted in advertising by underspending than by overspending. Years ago someone said that underspending in advertising is like buying a ticket halfway to
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