Question

IMPORTANCE OF ADVERTISEMENT

Answer 1

Answer:

Importance of Advertising

know about importance of advertising. Advertising is an integral part of our economic and social life. As a power­ful technique of promoting sales, it has been doing wonders in the area of distribution.

The role of advertising can be analyzed from five different angles namely, manufacturers; middleman; sales force; customer and society.

For an organization, advertising is important both as a promotional and as a marketing activity. As a business activity it holds its importance for an economy.

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Some of the importance of advertising are:-

A: Benefits to Producers and Manufacturers – 1. Successful Introduction of New Product 2. Creation of Regular Demand 3. Impressing New Uses of a Product 4. Enjoy Economics of Scale 5. Confidence in Facing of Competition 6. Creation of Corporate Image

B: Benefits to Customers – 1. Enhanced Knowledge 2. Planning before Shopping 3. Reasonable Prices

C: Benefits to Salesman – 1. Less Time 2. Easy Convincing 3. More Coverage 4. Ready to Receive

D: Benefits to Society- 1. Improved Standard of Living 2. Creates Employment Opportunities 3. Solves Societal Problems 4. Encourages Media.

Advertising has gained a significant place in the different areas of society. It has now entered the areas of politics, social achievements and economic growth.

Importance of Advertising: For Manufacturers, Middlemen, Consumer and Society

Importance of Advertising – With Benefits to Manufacturer, Middlemen, Sales Force, Consumer and Society

Advertising is an integral part of our economic and social life. As a power­ful technique of promoting sales, it has been doing wonders in the area of distri­bution. The role of advertising can be analyzed from five different angles namely, manufacturers; middleman; sales force; customer and society.

1. Importance of Advertising to Manufacturers:

Every manufacturer and producer, who wants to make available his goods to people at profit, do take full advantage of advertising to popularize their products and services.

The major benefits that are available to manufacturer are:

(a) Increasing Sales – Even the best product cannot be sold on its own, unless people know about the product. In today’s highly sensitive and competitive market, a firm cannot maximize its profit, unless it multiplies its sales turnover. A regular and frequent advertising helps the producer to obtain this objective.

(b) Helps in maintain existing market and explore new market – Every forward looking company eyes on future prospects without losing its current position. A company’s success is reflected by how it maintains its current position and future expansion. Advertising helps the manufacturer, in this regard, to face competition effectively.

(c) Helps to control price of product – Through advertising, it is possible to control price of the product especially in retail market. Very often greedy retailer charge higher price from the customer. The manufacturer can help them by printing the price on the packages.

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