What are the advantages of advertising in the modern world?
Advertising is very essential for the very survival of a business. Companies spend a fortune on it. Advertisements are there on television, newspaper, hoarding, radio, pamphlets, e-mails and so on. The benefits of advertising are many.
Firstly an advertisement introduces the product to the market. People come to know about the features of a product from its advertisement. The ad tells what is so special about this product, how it differs from the rest, what discounts if any, any special feature and so on.
Secondly there may be many other companies that sell the same product. Hence it is all the more essential that people hear about this particular product again and again through ad so they become familiar with it and are motivated to buy. Advertisements make a product popular by having a hammering effect.
Educational institutions and service providers like banks also depend upon advertising for to do a successful business.
The market is competitive. There are lots of brands in every field of business. Every company needs to attract new customers to increase or maintain sales.
Some companies that cater to a particular section of the society like toys or chocolates or healthy drinks try to make advertisements that attract and impress that group such as the children in these instances. They try to win over this section of the society to like their products.
The competition has become tougher due to liberalization that has brought foreign brands into the market. Their entry makes it tougher for the domestic companies to hold on to their customers. Foreign companies too much shell out money for advertisements if they wish to impress the buyers.
The advantage for the customer is that he gets good products or services at competitive rates. The buyers get to know about the availability of other products and services.
Advertising itself is an industry that provides employment to many such as fashion models, computer professionals, graphic designers, artists, fashion designers and so on.
I will like to conclude that without advertising no company will be able to sell its products or services. Advertising is the only way a company can make people aware of what is available in the market. Through advertisements companies are able to compete with other companies, thus introducing healthy competition.