Explain the importance and classification of advertising in detail. (Give suitable examples).
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#Advertising is important for the customers-----»
Just imagine television or a newspaper or a radio channel without an advertisement! No, no one can any day imagine this. Advertising plays a very important role in customers life. Customers are the people who buy the product only after they are made aware of the products available in the market. If the product is not advertised, no customer will come to know what products are available and will not buy the product even if the product was for their benefit. One more thing is that advertising helps people find the best products for themselves, their kids, and their family. When they come to know about the range of products, they are able to compare the products and buy so that they get what they desire after spending their valuable money. Thus, advertising is important for the customers.
#Advertising is important for the seller and companies producing the products------»»
Yes, advertising plays very important role for the producers and the sellers of the products, because
Advertising helps increasing sales
Advertising helps producers or the companies to know their competitors and plan accordingly to meet up the level of competition.
If any company wants to introduce or launch a new product in the market, advertising will make a ground for the product. Advertising helps making people aware of the new product so that the consumers come and try the product.
Advertising helps creating goodwill for the company and gains customer loyalty after reaching a mature age.
The demand for the product keeps on coming with the help of advertising and demand and supply become a never ending process.
#Advertising is important for the society------»»
Advertising helps educating people. There are some social issues also which advertising deals with like child labour, liquor consumption, girl child killing, smoking, family planning education, etc. thus, advertising plays a very important role in society.
1) Introducing a New Product
Advertising has a great importance when launching a new product, service or even an idea to the market. When an advertisement of a product or service is done appropriately through the right media channels and at the right time, it draws customers’ attention and directs them to take an action. Therefore, it contributes to marketing success in the whole picture.
2) Increase in Sales
Advertising is a must to arouse an interest among the audience about the products and services. Without arousing that interest, creating demand in the market is nearly impossible. Eventually, growing demand results in a remarkable increase in sales.
3) Creating Consumer Awareness
At the first stage, advertising helps to create awareness among the audience about the existence of a specific product or service. Then, advertising attempts to inform the potential customers mainly about the features, use and the price of the product. Creating awareness and providing necessary information about the product or service drive the customers to make a purchase decision ultimately.
4) Building a Brand Image
Oftenly repeated ads, for sure, contribute a lot to the popularity of the brand, because repeated ads manipulate the customer perception of the brand. Customers recognize advertised brands as more trustworthy and prefer to make a purchase from those brands. That attitude of the customers, eventually, creates a boost in demands and therefore, in sales.
5) Supply – Demand Projection
As stated before, advertising, when done repeatedly, manipulates the customer perception of a brand and makes them purchase that specific brand, which in return, increases demand. Rising demand should be scrutinized in order not to fail to satisfy. That close relationship between rising demand and supply accordingly enables to be able to make the supply-demand projection in the course of time.
#hope it helps you....
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Hello Mate,
Just imagine television or a newspaper or a radio channel without an advertisement! No, no one can any day imagine this. Advertising plays a very important role in customers life. Customers are the people who buy the product only after they are made aware of the products available in the market. If the product is not advertised, no customer will come to know what products are available and will not buy the product even if the product was for their benefit. One more thing is that advertising helps people find the best products for themselves, their kids, and their family. When they come to know about the range of products, they are able to compare the products and buy so that they get what they desire after spending their valuable money. Thus, advertising is important for the customers.
Hope this helps you