“Can someone please explain seting up prices for keywords, let say I will set my price for keyword "gift box" as 0.15p but default is 0.30p does that mean that my add will be lower then first position or is it going to be displayed on the side of the search resault page???.
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The default is the default value you have set for your campaign. Adwords will tell you if a keyword isn't a high enough bid to be displayed (though be wary, as this is dynamic, ie it changes constantly).
Position wise, it depends what your bid is. As some of your keywords gain impressions, you can see what the average position that the add showed. Personally, I find position 4 or 5 works better for me than position 1, but you will work that out for yourself.
There are loads of adwords resources on the 'net, but no substitute for having a dabble and playing with real data. Just keep a low daily spend, maybe a couple of pounds and you will have a few weeks of free training while you use googles voucher
