Economic Aspects of Advertising
Economic Aspects of Advertising:
Following are the economic aspects of advertising:
1. Advertising is the spokesman of a businessman: Advertising tells the thing about the product, what the manufacturer wants to tell.
2. Product information: Advertising informs the people about the product, its uses and qualities.
3. Advertising motivates the people to make a buying decision: Advertising tells all the characteristics and qualities of the product in such an appealing way that it motivates the people to make a buying decision.
4. It 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.
5. Advertising make the company known: Advertising carries the message of the product alongwith trade mark which makes the company known among the people.
6. 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.
7. Advertising produces market prestige to the product: A product can be provided respectable place in the market by the use of attractive advertising.
8. Advertising dispels monopoly: Advertisements for various products of the same nature dispel monopoly and create competitive environment of the market.
9. Advertising fixes the price of the product: Almost all advertising tells about the price of the product.
10. Advertising helps the people to make a quick selection: Since advertising tells various qualities of the product; so it is easy for the consumer to select the product of his/ her choice.
11. Advertising provides wide choice for the consumer: Advertisements for products of the same nature provide a wide choice for the consumer.
12. Prize competition: This is also one of the economic aspects of advertising 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.
13. Advertising changes desires of the people into needs.
14. Advertisiting informs the dealer about the new product.