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THE MUSIC TRADE
REVIEW
Advertising a Profitable Investment.
'T'^HERE is no department of a business for which it is harder to
A receive recognition than that devoted to advertising. Some
-men look upon the expenditure made for publicity as "waste."
They say they cannot see its value, still they are unconsciously rely-
ing upon the power of advertising in everything they do. In their
dress, in their conversation, in their habits, in all their dealings, both
in a social or business way, they are advertising either themselves
or their business.
It is a matter of history that all successful businesses have been
built through advertising. Concerns that have made money and
fame continue to be believers in it after they have climbed to the
top, because they realize that it is the very oil of commerce—that a
great name, or a great business is only great as long as'it is adver-
tised, and products of value are produced and sold.
Men who refuse to recognize the value of presistent advertis-
ing do not amount to much in the business world. They fuss
along, making sporadic apportionments, dropping out of the field
one year, then, realizing their mistake, renew advertising in a limited
way. Their indecision leads the public to believe that they have
not faith in themselves and they cannot therefore win the faith of"
the purchasing public.
Advertising to-day is the safest and most profitable investment
in the world provided it is backed by enterprising men of ideas who
are living up to the claims made for their products. False adver-
tising, in other words, the advertising of those who cannot "deliver
the goods," is a waste of money. The confidence of the public
must be won, and once it is secured, values delivered, and the
prestige of the house constantly kept in the public mind, there is
bound to be success.
In this progressive age of American business advance, it is an
anomaly to find any doubt existing about the value and effectiveness
of advertising.
"I don't believe in advertising," said the treasurer; and then
he sat down and wrote to his best friend, telling him what he was
doing in a business way and what he expected to do.
"I don't believe in advertising," said the president; and saying
good-bye to tne caller, he took up the thread of the speech he was
preparing to deliver to a local business association.
"I've heard my husband say he doesn't believe in advertising,"
said the president's wife; then she carefully penned a note to the
society editor tipping off the coming party of their eldest daughter.
"I don't believe in advertising," said the sales manager; and then
he hustled the last of his salesmen off on a handshaking trip. "It's
between seasons, but you boys might as well keep in touch with
the trade."
"I don't believe in advertising," said the secretary; and then
he dictated a letter to the Charity Ball Association, inclosing a
substantial donation that would put the firm's name near the top of
the list.
"I don't believe in advertising," said the silent partner; and ex-
cusing himself he called up the local paper to say that his name
was spelled S-m-y-t-h-e, and that he generally wrote his name out
in full.
"I don't believe in advertising," said the vice-president; and
then he carefully counted the advantages that owning the swiftest
yacht would give him.
"We don't believe in advertising,'' said the board of directors;
and, adjourning, they hustled to their clubs, the golf links, and two
went abroad, which item the papers heralded.
Intelligent advertising is a proposition that enables a man to
become rich with the help of the multiplication table. The manu-
facturer, or business man, can establish a universal demand for his
product with the aid of advertising, and sales can be multiplied by
direct appropriation to his advertising.
Some years ago when modern advertising scarcely existed the
merchant's success depended on mouth-to-mouth praise on the part
of people that passed the door, or on the number of salesmen that
could be employed to go out and talk about him. For a compara-
tively small expenditure now a merchant is able through a trade
or news paper to reach a vast army of people, while if he tried to
send his salesmen to such a number of families, even though they
were only paid a modest salary, it would cost many thousands of
dollars to do the work.
Every intelligent business man should be interested in adver-
tising, for be sure of this, if he is to succeed he will need to know
about advertising.
Too many men in the business world who have not the time, the
inclination, or the ability, to give this subject proper consideration,
at once assume that advertising is a mighty big expense and one
that can be dispensed with with safety, and then they wonder why
their neighbor (who advertises) is building up such a successful
business.
This is not a time for nampy-pampy methods in the business
world. If a man enters the business field he should do so with the
object of winning out.
It is just like athletics. There is no room for the quitter. He
had better stay out of the race. It is the men who study the value
of advertising and who employ every avenue in this direction to
reach the public, who win the race for supremacy in their respective
fields.
Credits In^Export Markets Discussed.
D
EFINING the policy of his Administration toward the South
American Republics, President Wilson last week made it a
point to emphasize that it was the purpose of the Government and
the people of the United States to cultivate close and friendly rela-
tions with our South American neighbors—that we did not wish to
mix ourselves in their domestic affairs, provided, to put it col-
loquially, they "behaved themselves." He expressed his sympathy
with the aim of the United States to secure larger markets in South
American countries to the end that there may be a larger inter-
change of commodities that would tend to the prosperity of the
commerce of the southern Republics as well as that of the United
States. It is interesting in this connection to note that a book of
very practical value to every firm engaged in the export trade or
planning to enter the foreign field, has just been issued by the
Bureau of Foreign and Domestic Commerce.
It deals with a much discussed subject—the credit problem—
but presents it in a new way. Part of the book is devoted to an
exposition by Commercial Agent Archibald J. Wolfe of credit
methods and facilities in Germany, England and France, in which
he shows how and by whom long terms of credit are granted in the
export markets, what facilities make these extended credits possible,
and the benefits or disadvantages of the system. The report also
includes a review by Mr. Wolfe of present methods of financing
foreign shipments from the United States and an analysis of numer-
ous letters from American manufacturers with regard to their credit
practice in export trade.
An important series of consular reports from all parts of the
world is included. In these reports American consular officers
describe fully the local credit conditions. Thus the subject is con-
sidered from different angles and the reader is given an accurate
idea as to what the exporters in foreign countries can and cannot
do in granting credit, what American exporters are doing and can
do, and what the foreign importer'is accustomed to expect in the
matter of credit from the American exporter. Supplementing the
book are examples of forms for use in financing foreign shipments
and lists of banks in the United States having foreign departments,
and of foreign banks undertaking the collection of drafts.
The report treats of the general factors and principles involved,
and also gives definite data of immediate practical value. It pre-
sents no ready-made solution for the credit problem; rather it sets
forth the facts and outlines the principles that should govern
foreign credit dealings.