Importance Of Advertising

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The Evolution and Importance of Advertising Advertising is the way to make consumers aware of a product(s) or service(s). Advertising is everywhere, TV, magazines, newspapers, internet, billboards, radio, vehicles, and even on T-shirts. Consumers try to decide what to buy and with the help of advertising, it helps to narrow down the options. There are so many products in the world, it is hard to decide which is right for you or which product works better than another or which brand of product is a better product. Without advertising we would not have a clue to what is what in products and services. That being said, with this paper I will attempt to address the following questions: How has advertising evolved into its current state?…show more content…
According to our text book, advertising is “the structured and composed nonpersonal communication of information, usually paid for and usually persuasive in nature, about products (goods, services, and ideas) by identified sponsors through various media.” (Arens, Schaefer, & Weigold, 2012) The business dictionary defines advertising as a “paid, non-personal, public communication about causes, goods and services, ideas, organizations, people, and places, through means such as direct mail, telephone, print, radio, television, and internet. “ (Business Dictionary.com) Now that we understand what advertising is, let’s see how it has evolved into its current…show more content…
Explain the role economics plays in advertising. Economics plays a significant role in advertising because the more income consumers have, the more profitable the results for businesses. The industrial managers can budget more for ads depending upon the product or service for a particular target market. The advertisement return on investment (ROI) can be exploited when the marketing managers develop a target marketing strategy. If the economy produces more goods and services than can be consumed, advertising will keep the consumers informed of their alternatives (competition). Advertising increases buyers and sellers and stimulates a healthy economy. This also creates financially healthy consumers who are informed, educated and demanding. Consumers want accountability from manufacturers when advertising. What you see is what you get, should be manufacturers slogan to live
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