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The Relevance of Advertising to the Economy

The importance of advertisement is as old as the production of writing itself. The use of written forms of advertisement dates back to the very earliest forms of print media. It was not until after the advent of mass production and the widespread use of the automobile that the first forms of advertising developed. It was not until the latter part of the 19th century that manufacturers realized the importance of advertising as a marketing tool and it was not until World War II that the producers realized the value of advertising to the market. This realization came too late as the war was just over and no serious effort was made to promote their products.

The importance of advertisement can be gauged from the fact that it helps the consumer to make his decisions and helps him to choose a better quality product at a reasonable price. All this comes at a time when the average income of the individual is not more than sufficient to meet his expenditures. Advertising helps the consumer to identify the best quality products and helps him to select them. It is through advertising that the manufacturer proves his superiority in the market and encourages the consumer to purchase his wares. Advertising also helps the consumer to avoid inferior products that might spoil his interests. It is through advertising that the manufacturer proves that his product is superior to that of the competition and helps him win the confidence of the consumer.

The importance of advertisement can be gauged from the fact that without it, the modern-day economy could not exist. All business organizations are dependent on the sale of their products and hence it is imperative for them to make their products known to the masses. Without advertising, the manufacturers and sellers would not be able to make their presence felt in the market. In short, the importance of advertisement cannot be understood in words. It can only be understood in the actual sense, where one can hardly think of a world without newspapers and television sets. No wonder then, that the importance of advertisement cannot be neglected even by scholars of social science as it is an integral part of our lives.

The importance of advertising can also be gauged from the fact that it has helped the economy to flourish during the difficult times. Without advertising, the manufacturers and sellers would not be able to survive amidst the stiff competition prevailing in the market. With the proliferation of media houses, the consumers get a chance to know about the various offers made by the manufacturers and sellers in the market. This in turn motivates them to make purchases from such companies and encourage economic growth.

There are a number of factors that determine the importance of advertisement. One such factor is the popularity of the product or service. This popularity is measured by the sales volume of the product or service. If a new product is selling like hot cakes, then the manufacturer will surely do everything possible to promote his product. Similarly, if a particular brand has achieved great success, then the manufacturer will use all possible methods to create awareness about the product and encourage the public to purchase the same.

The importance of advertisement is further determined by its ability to convince the general public to purchase the product or service. For instance, television advertisements are quite effective as they can easily persuade the general public to purchase a particular brand or service. In order to convince the public, the manufacturers often pay a large amount of money. However, when the product is purchased by the masses, the manufacturer will have to spend a reasonable amount of money in order to cover the costs incurred for making the advertisement public. In such a scenario, it becomes very important for the manufacturer to make sure that the advertisement is reasonable priced and appealing to the general public. It is only when this is the case that one will be able to obtain a reasonable profit from the advertisement campaign. Visit here for more information about NZ Classifieds.

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