A brand can increase its market value by creating a favourable impression on its clients and associates. But how will you achieve this in a cost effective manner? The solution is simple. Imprint your brand name and logo on economically priced promotional pens that can offer you the advantage of volumes. Based on the age group and background of your clients, choose promotional pens that communicate well with your target audience. Imprinted snazzy colourful pens, lightweight pens with attractive features, metal pens, branded pens and pen sets communicate with your target audience more effectively than you might think, and earn their good will for your brand.
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To order, browse through the pages concerning promotional pens of our website and decide the price range and the type of pen that works best for you. We also provide customising service by priniting your brand name and logo. Choose from a variety of imprinting techniques such as traditional screen, pad printing and the latest laser engraving technique. Our designers imprint your business logo and company name to personalise your printed pens and make them trendy and visually appealing. Environmentally conscious companies can choose from a range of environmental friendly recycled promotional gifts such as pens made from recycled CD cases and bio degradable materials.
Large, mid-sized or small – whatever be the size and scope of your event, find promotional pens from Ideasbynet to increase your market appeal. Quality, functionality and dependability make our printed pens superior and well loved in the promotional products market. They are true mates that rise to any occasion and stand by you. Often, effective communication can make the difference between growth and downfall of a business. Trust promotional pens from Ideasbynet to communicate most effectively and increase your market value with their élan and high utility.
Sunk Costs: Costs that were incurred in the past that cannot be recovered and thus are irrelevant for decision making.
Well most costs are incurred in the past so that part of the definition is not all that helpful. More central is the idea of recoverability. But the key underlying idea, which is not spelled out in the definition, is that sunk costs are assets. Huh? How can costs be assets? Well keep in mind that costs involve the expenditure of resources (usually money). But expenditures come in two flavors: those that have only short term benefit and those that have long term benefit. Costs (expenditures) that have only short term benefits are called period expenses or just expenses. Examples include expenditures for monthly utilities and rent. Costs that are expected to create benefit into future periods are called assets. Examples are machinery, furniture and equipment.
Now assets are sometimes referred to as unexpired costs to emphasize the fact that the expenditure will create benefits for future accounting periods. But these assets (unexpired costs) also come in two flavors: recoverable assets versus non recoverable assets. Most assets are recoverable at least to a degree. You buy a piece of equipment or furniture and you use it for a few years and it still functions so you can sell it in the used furniture or equipment market. Maybe you will not recover much of your original outlay but you will recover something.
But non recoverable assets are exactly sunk costs. You lay the money out and you cannot recover much of anything in the secondary market. Why not? Well these kinds of assets or sunk costs are usually custom made for very specific purposes. A piece of equipment specially designed to perform one unique function in a unique manufacturing process. A custom made software that only suits the specialized needs of one business.
So what is the big deal about these non recoverable assets that we call sunk costs? The big deal is that once we make an investment in these kinds of assets we are very reluctant to think clearly about whether or not we made the right decision. We are very reluctant to admit that we made a mistake.
Example. You invest $2,000,000 in special equipment to manufacture a certain model of desk lamp. Excluding the original investment of $2,000,000 the unit cost of producing one lamp is $3.50. This unit cost includes labor and materials directly associated with producing the lamp. Now some time after you make the investment in the special equipment you find out that a factory in China will manufacture the identical lamp for $3.00 per unit delivered. What is the prudent course of action?
Well the prudent course of action is to outsource the production and utterly disregard the $2,000,000 investment made in the special equipment. But the prudent course of action runs utterly contrary to human nature because abandoning the asset entails admitting to yourself that you made a $2,000,000 mistake.
How willing you are to abandon a bad asset investment is related to at least two things: the size of the investment and when you get the bad news that you made a mistake. If the sunk cost is large you are more likely to resist rational action than if the outlay is small.
If data on your mistake becomes immediately obvious after making a large investment you will do everything in your power to ignore or refute the data. On the other hand if you have gotten some benefit from the investment over some period of time you will be more willing to act prudently and write the investment off.
Both Gareth Parkin & Michael Sack Elmaleh are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Gareth Parkin has sinced written about articles on various topics from Promotional Advertising, Promotional Advertising and Web Development. Gareth Parkin is the co-founder of Ideasbynet, the UK's largest online source of & other. Gareth Parkin's top article generates over 450000 views. to your Favourites.
Michael Sack Elmaleh has sinced written about articles on various topics from Promotional Advertising, Finances and Politics. Michael Sack Elmaleh is a Certified Public Accountant and Certified Valuation Analyst. His book, "Financial Accounting: A Mercifully Brief Introduction", has received wide critical acclaim. He has nearly 30 years of accounting and 10 years of teachi. Michael Sack Elmaleh's top article generates over 74000 views. to your Favourites.