Changes in Costs of Marketing or Selling

One of the vital tasks an enterprise will undertake is marketing its products. As with other costs you have to read about, the costs of marketing and advertising may also rise. In these instances, enterprises will need to consider whether they can change how they do their marketing and advertising so that they can reduce costs. Generally speaking, enterprises will use the following sources to do their marketing. Some of these cost a lot of money, some are low cost and some are free:

• Advertising on social media

• Advertising on website such as eBay

• Using a blog

• Flyers and brochures

• Newspapers/magazine advertising

• Vehicle advertising

• Radio advertising

• Email shots and campaigns

• Trade shows

• Business cards

Cost of selling a service or goods can include the following.

• Paying the wages of everyone who helps run an enterprise – even if an entrepreneur is the only person running a micro enterprise, they will still need to take a salary

• Delivering the goods – for example, packaging and postage or courier costs

• The cost of travelling – an enterprise delivering a service to the home (for example a gardener) will need transport. Travelling costs include the transport itself, vehicle insurance, fuel and general maintenance of the vehicle