advantages of advertising
Answers
Answer:
The major advantages of advertising are: (1) introducing a new product in the market, (2) expansion of the market, (3) increasing sales, (4) fighting competition, (5) enhancing good-will, (6) educating the consumers, (7) elimination of middlemen, (8) better quality products, (9) supports the salesmanship, (10) more employment opportunities, (11) reduction in the prices of newspapers and magazines, (12) higher standard of living.
Explanation:
(1) Introduces a New Product in the Market:
Advertising plays a significant role in the introduction of a new product in the market. It stimulates people to purchase the product.
(2) Expansion of the Market:
It enables the manufacturer to expand its market. It helps in exploring new markets for the product and retaining the existing markets. It plays a sheet anchor role in widening the marketing for the manufacturer’s products even by conveying to the customers living he flung and remote areas.
(3) Increased Sales:
Advertisement facilitates the mass production of goods and increases the volume of sales. In other words, sales can be increased with additional expenditure on advertising with every increase in sales, selling expenses will decrease.
(4) Fights Competition:
Advertising is greatly helpful in meeting the forces of competition prevalent in the market. Continuous advertising is very essential to save the product from the clutches of competitors.
(5) Enhances Good-Will:
Advertising is instrumental in increasing the goodwill of the concern. It introduces the manufacturer and his product to the people. Repeated advertising and better quality of products bring more reputation for the manufacturer and enhance goodwill for the concern.
(6) Educates The Consumers:
Advertising is educational and dynamic. It familiarises the customers with the new products and their diverse uses and also educates them about the new uses of existing products.
(7) Elimination of Middlemen:
It aims at establishing a direct link between the manufacturer and the consumer, thereby eliminating the marketing intermediaries. This increases the profits of the manufacturer and the consumer gets the products at lower prices.
(8) Better Quality Products:
Different goods are advertised under different brand names. A branded product assures a standard quality to the consumers. The manufacturer provides quality goods to the consumers and tries to win their confidence in his product.
(9) Supports The Salesmanship:
Advertising greatly facilitates the work of a salesman. The customers are already familiar with the product which the salesman sells. The selling efforts of a salesman are greatly supplemented by advertising. It has been rightly pointed out that “selling and advertising are cup and saucer, hook and eye, or key and lock wards.”
(10) More Employment Opportunities:
Advertising provides and creates more employment opportunities for many talented people like painters, photographers, singers, cartoonists, musicians, models and people working in different advertising agencies.
(11) Reduction in the Prices of Newspapers and Magazines Etc:
Advertising is immensely helpful in reducing the cost of newspapers and magazines etc. The cost of bringing out a newspaper is largely met by the advertisements published therein.
(12) Higher Standard of Living:
The experience of the advanced nations shows that advertising is greatly responsible for raising the living standards of the people. In the words of Winston Churchill “advertising nourishes the consuming power of men and creates wants for a better standard of living.” By bringing to the knowledge of the consumers different variety and better quality products, it has helped a lot in increasing the standard of living in a developing economy.