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In my experience, there are many different types of graphic designers - each with their different style and level of experience and knowledge. What separates a true designer from a desktop publisher is quality of design and an understanding of marketing. The best designers will ask questions - loads of questions - concerning the intended target market. They will decipher and define the most potent message to speak directly to the target market and they will execute the design in such a manner as to be attention grabbing to this target audience.
I tell people the best way to choose a graphic designer is not always by how much they charge. Choose a designer based on his/her portfolio and by the questions they ask about your company/service and your target market. Don't be afraid to allow the designer to be creative and to think outside the box. The most effective advertising ever produced went against people's comfort zones. Be different! Your advertising dollar will be far more effective.