ADVERTISING EFFECTS ON SOCIETAL ECONOMIC ASPECTS

 

It works like a spokesman of a businessman, advertising tells the thing about the product, what the manufacturer wants to tell. It also informs the people about the product, its uses and qualities.

Advertising motivates the people to make a buying decision ie. Tells all the characteristics and qualities of the product in such an appealing way that it motivates the people to make a buying decision. It also increases the sale of the product, when people will make a buying decision definitely this will result in increase in the sale of the product.

Advertising make the company know e.g it carries the message of the product alongwith trade mark which makes the company known among the people. It dispel wrong impression, in case people have wrong impression towards a product, advertising is used to dispel the wrong impression of the people towards that product. It produces market prestige to the product ie. A product can be provided respectable place in the market by the use of attractive advertising.

Advertising dispels monopoly[1], for various products of the same nature dispel monopoly and create competitive environment of the market. It also fixes the price of the product and helps the people to make a quick selection by telling various qualities of the product so its is easy for the consumer to select the product of his/her choice.

 

Advertising provides wide choice for the consumer, for products of the same nature provide a wide range for the consumer. This is also one the economic aspects of advertisement that excellent and attractive advertisings are offered prize. So an advertising agency designs advertising so beautiful and attractive as to stand first in the prize competition.

Advertising changes desires of the people into needs and informs the dealer about the new products.

 

[1] Yahoo search results have a new label: “Powered by Bing.”  What?!  Yahoo and Microsoft’s Bing once were two search engines vying for 2nd in market share, behind all-powerful Google.  Their limited alliance –  centered upon Yahoo’s adoption of Bing’s search technology and advertising display — is a major attempt to offset Google’s dominance in search.  Can you say “no more monopoly”?

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