Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

Business advertisement brings profits in sales. The key goal of such advertising is to convince the potential buyers to purchase manufactured goods and services. There are various avenues through which the customers get information about the true marketable products and services. These are television, radio, newspaper, magazine and recently online advertisement. The truly marketable product brand has now brought forth a novel integrated tactic that proves rewarding. The maintaining and cultivating the strategy by using the right tools at the right moment and in the right place is extremely necessary. The actual aim of the advertisement is to make people aware of products and services accessible under the brand name rather than selling the product.

Significance of Advertisement

Product publishing plays an important role in creating brand awareness among the general public. The potential buyers are persuaded to reach out for the products. In addition, the satisfied buyers make verbal publicity among the neighbors, friends and relatives. This leads to the increase of profits of companies by increasing its revenue. The expenses of advertisement in turn get good height in earnings. The popular modes of publishing goods and services are newspapers, pamphlets, brochures, magazines, journals and books.

Advertising in print media is comparatively cheaper than availing through electronic media. By using this, one can cover a wide range of audiences belong to different age groups. For example, if a brand name is advertised on television the brand would get access to every home and offices, and also in other public places. With time, advertising on the internet is getting more popular. The internet is the most workable platform available till date not only in case of an advertisement, but in case of sharing new and creating universal awareness by sending them to every corner of the world.

What Advertising Agencies Do?

Many of the firms advertise their products to the potential buyers through their own advertising department. But, others depend upon some advertising agencies for promoting their brands and services. Organizations pay to these agencies for promoting their brand name. They are always there for recommending, and making the most of your advertisement costs of promoting your brand name on the right place.

Advertising, therefore, is proper promotion of the products, not selling of items. It helps to give proper information about the brand. On the other hand, it facilitates general people know about the products and to buy the advertised brands more consciously. So, advertising is the link between company and their customers. Advertising not only gives the proper awareness of the products but also offers a nice introduction of the company. Attractive advertisements create demand in the public mind that in turn boost sales of the brand.

Online Advertising

Online publishing of products and services promote the products in the best way as it is not limited by time and space. The different kinds of advertising sites are available for promoting products. We can select them based on our needs. The different kinds of methods available are Pay Per Click, banner ads, text ads, intext adds, link ads, flash ads, slider adds, hovering adds, pop up ads, pop in to add etc. You can take up as per wish. Online advertising is very specific to the audience. The advertisers use keywords or phrases in their online ads that are employed by the potential buyers in order to search for the products and services. More is, the online ads are region specific also. Banner advertising is a popular form of online advertising. Advertiser can advertise their banner by coming to an arrangement with online companies and publish their banner. It is more cost effective than other forms of advertising. There is just one time start up cost of creating a website. There are no associated costs like postage, storage, repeated design fee etc.

A study by Google confirms that nearly 30% of internet-users read newspaper and they are likely to go online to research at least one product that they find in a newspaper. Internet advertising when combine with newspaper advertising can help advertisers to reach to targeted audiences. Whatever may be the media, without advertisement, business owners experience a much harder time to orient the business field in their support.

The time is ever changing. With it has changed the ideas and ideals of the past. There is an established saying “necessity is the mother of invention.” But, now a days the reverse is more true. In modern business, “invention is the mother of necessity.” In this age of machinery, new things are being produced almost everyday. Through advertisement, markets are created for the goods. It is through advertisement people begin to realize the need of those goods that they never used or heard. Without publicity no business can stay in the world of market. A successful businessman always creates need for goods and services where there is not. Thus, the world of business rotates on the pivot of advertisement.

If you’re a single parent, you face a variety of difficult challenges in everyday life. Not the least of which is making sure that you are able to provide a good home for you and your child. Unfortunately, in times of economic uncertainty such as that which we currently experience, steady jobs are in short supply, which can make things difficult. Home based business offers single parents an alternative option; they are able to work part time from home and build a financially secure future for themselves far superior to that which they could achieve otherwise. Here are some of the major advantages of owning home based businesses, which finding a way to work part time from home can help you achieve:• Flexible Scheduling – When you work part time from home, or own a home based business, you have the most flexible scheduling available on Earth, which can really help when it comes time to accommodate the kids. When you add in commute times as well as all the other time you will save as well, you end up having dozens of extra hours a week to spend with your family.• Save More Spend Less – Having a home business really enables you to spend less money and save more at the same time. When you work part time from home, you don’t need to pay for as much child care, transportation, sitting, or any of the other major expenses associated with working outside the home.• More Freedom – Perhaps the most important benefit of owning a home based business is the increased freedom that it brings you. Instead of wasting away a third of your life on mundane tasks at some dead end job, you can work part time from home instead on something you really love, and earn a better income in the process.So if you are a single parent and have been considering some alternative work arrangements, you should definitely consider looking into the benefits that doing work part time from home can bring to your life. If you are able to build a successful home based business, you will be in a great situation financially, and likely enjoy your own day to day life more as well. Between the financial incentives, the extra time, and the benefits of being truly free, it is hard to understand why everyone isn’t looking into their own home based business.