Home | Contact Us


Posts Tagged ‘advertising’

World Reserve Monetary Exchange Ad Claims

Sunday, August 2nd, 2009

Attorney General Tom Corbett reaches agreement with World Reserve Monetary Exchange over their advertising practices

HARRISBURG – Attorney General Tom Corbett today announced a settlement with two Canton, Ohio, based companies over alleged unclear and deceptive advertisements.

Corbett said that Universal Syndications, Inc., doing business as World Reserve Monetary Exchange and World Reserve Monetary Exchange, Inc. (collectively WRME), ran large, full-page advertisements in local newspapers throughout the state in late 2006 and 2007.

Corbett said that the ads touted millions of dollars of “surplus” cash was “up for grabs” and that consumers had a limited amount of time to claim a portion of the “public windfall.”

“These advertisements led people to believe that they could claim cash that was ‘up for grabs,’ but that was not the case at all,” Corbett said. “These ads were actually for uncut sheets of U.S. currency that the World Reserve Monetary Exchange bought from the United States Bureau of Engraving and Printing and re-sold to the public.”

According to the agreement, the ads did not adequately disclose:

*
The amount and denomination of currency that consumers would receive;
*
That currency offered as “free” could only be obtained with the purchase of other items;
*
That the time-sensitive nature of the ad was not national in scope; or
*
That WRME was not affiliated with a government or banking entity.

According to the agreement, WRME will refund the purchase price to consumers who return their merchandise to WRME by Sept. 26, 2009.

*
Under the agreement, WRME paid investigative costs of $38,000 and agreed that future advertisements will clearly disclose:
*
That it is a private corporation not affiliated with the United States Government and that it is not a bank;
*
That its ads are in fact advertisements;
*
The denomination and amount of the advertised currency that is being offered for sale;
*
The cost of merchandise that is being offered for sale and what must be purchased in order to obtain “free” items; and
*
That limited-time offers may be available in other locations at other times.

Corbett said that consumers seeking refunds must notify WRME by returning their originally purchased merchandise to World Reserve Monetary Exchange, Inc., 3939 Everhard Road N.W., Canton, OH, 44709. The merchandise must be returned by Sept. 26, 2009, using a delivery method that requires WRME to acknowledge receipt or otherwise confirm delivery was made.

The Cyclical Economy

Monday, June 8th, 2009

Events that are cyclical happen on a periodic basis. Many economist subscribe to the theory that business is cyclical — a period of growth is followed by a period of recession. Because the last period of economic growth lasted so long, many business owners had never experienced a period of decline. In hindsight, they now realize how important it is to plan for a downturn. Optimizing inventory, staff and marketing are key elements in long term strategic planning.

Not only can economic trends be cyclical, but particular industries can be cyclical, as well. Quite a few businesses can be viewed as seasonal. For instance, the sale of seeds revolves around growing seasons. Burpee Seeds and The Victory Seed Company both see a sharp rise in sales during the spring. In the summer, sales fall flat and enter a downturn during the winter. Deck builders in the Northern United States are another example of a yearly business cycle. In the spring, new sales come easily. During the winter, there is little activity.

A company that experiences seasonal sales has the double whammy of planning for the cyclical nature of their seasonal sales, as well as, the cyclical nature of general economic growth. During the current economic climate, deck builders have found the extra need to scrutinize their marketing activities. Planning in advance is key to their success. The type of advertising medium combined with the timing of the advertising delivery involves having a preemptive plan. A cost effective Internet marketing plan that is rolled out prior to the building season will not only save money, but it will also help maximize the return on investment (ROI).

Costume sales is another good example of an industry that is familiar with seasonal sales. Though there might be some mild increases in business around holidays like Valentines Day and Christmas, the bulk of activity leads up to Halloween. The time for a costume company to undertake a marketing plan is not October, 31.

Moon Costumes is a company that understands the importance of a seasonal marketing plan. A family owned business in operation since 1969, Moon Costumes is well seasoned in seasonal sales. In 1969, the world wide web had not yet been conceived; however, Moon Costumes has stayed current with the times. They have implemented a strong on-line presence. Also, they understand the importance of gearing up their marketing campaign prior to the seasonal rush. A key component for their Halloween costume marketing was embarked upon in June.

Given the worldwide economic crisis, you might think a 50-year-old company would eliminate or cutback on web-based advertising. No. Quite the contrary. Optimizing the marketing budget is more important than ever.

“We are seeing an ongoing secular shift from traditional to online media as marketers recognize that ad dollars invested in interactive media are effective at influencing consumers and delivering measurable results,” said Randall Rothenberg, president and CEO of the Interactive Advertising Bureau (IAB) . “In this uncertain economy, where marketers know they need to do more with less, interactive advertising provides the tools for them to build deep, engaging relationships with consumers—the experience marketers gain from this will deliver dividends especially after the economy turns around.”

Erik Aronesty, spokesperson for Moon Costumes, said, “We had to dig a little deeper this year for our ad budget, but I think it’s worth it!”

Visit Moon Costumes at mooncostumes.com.