Advertising, Business and Communication - Coursework Example

Concerning the Carnival business, the FPI is suitable as profits are earned concerning negotiated costs and the target cost (total). In addition, the FPI contract bears target cost, ceiling price, target profit, and formula of sharing profits (Garrett, 2006).

CS: This contract falls under the cost reimbursement contract type. In this case, the buyer and seller agree to venture into a joint effort to undertake research that serves mutual interests. Since the seller accrues commercial benefits to the seller, the contract exempts payment of fees. In addition, the seller offloads some of the performance costs in need of benefiting the seller’s firm.

T&M: This contract type is concerned with time management and time-sensitive contracts. For carnival services, the requirement for contract labor is crucial as events are not consecutive. In this case, the T&M contract is the best suited as it considers timed labor with specific compensation. On the downside, T&M discourages effective control of costs (Garrett, 2006).

2. Advertising
In advertising to attract the most competitive entities within the marketplace, selection and segmentation of the potential target entities are essential considerations. To filter the best from the rest, the advert is to communicate the competitive edge of the advertised business venture. The channel of communication is an important aspect of advertising. However, to catch the attention of the target entities, the campaign is to use the medium of communication most accessed by the target population. Read More