The importance of advertising is threefold: it helps consumers compare products and services, it allows businesses to retain existing customers and win new ones, and it educates society about important issues. By definition, advertising is an impersonal and unidirectional communication that flows from the advertiser to the consumer. Organizations pay to "place" it in one or more media venues, such as newspapers or television.Know More
According to the Management Study Guide, advertising has four objectives. First, it attempts to get consumers to try a product or service for the first time. Ongoing advertising campaigns update existing customers on the product's benefits to encourage the customers to keep using the product. At the same time, the ads attempt to lure customers away from competitors' products. Finally, advertising tries to win back former customers who have switched brands.
Advertising comprises one part of an organization's marketing mix: the range of activities an organization uses to create mutually beneficial relationships with consumers. An effective ad is one that reaches as much of the target market as possible, holds the audience's attention, and successfully calls the consumer to take a specific action, such as calling for information or making a purchase.
If successful, an ad increases an organization's market share and solves a problem for the consumer.Learn more about Advertising
Advertising is a great business practice because it allows a company to be able to communicate with its consumers, change their attitudes towards a product or service, add new jobs, and increase the sales of that product or service.Full Answer >
Persuasive advertising is the use of media to move an audience to take action. Advertising professionals pay for space or time in a medium to deliver messages to buy or use their service or product.Full Answer >
The disadvantages of advertising vary depending on the form of advertising used, but can include ineffective use of advertising images, difficulty qualifying return investment numbers, difficulty choosing the most appropriate channel for advertising, audiences declining on television advertising, high CPM costs and the use of DVRs leading to fewer people viewing commercials. When companies invest in advertising, they need to look at both the advantages and the disadvantages involved in each format to choose the most appropriate advertising channels for success.Full Answer >
The phrase "covert advertising" refers to advertising that is hidden in other media, such as an actor in a movie drinking a Coca-Cola. It is referred to as "covert" because it is not direct advertising, but subliminally viewers often notice the product.Full Answer >