Every business needs to attract customers to be successful. Marketing describes the steps businesses take to attract and retain customers, which includes creating advertisements that raise consumer awareness about products and services. Advertising helps in increasing the loyalty of existing customers, replacing lost customers and encouraging existing customers to buy more of a company’s products or services.
Advertising helps to make consumers aware of a product and aims to build preference for that product over its competitors. If advertising succeeds in those two tasks, consumers will choose the advertised product when they make their next purchase. Advertising laws help to protect consumers against false advertisements, which improves the information consumers can use to make decisions about which products and services to buy. One of the main drawbacks of advertising is that there is no guarantee that ads will result in higher profits in the future even after investing huge amount on advertisement. Hence here are list of top MBA colleges in Delhi NCR from where one can pursue all sorts of master degree program to enhance marketing skills.
Benefits of Advertisement
- An advertisement benefits both the seller and the consumer. Sellers can promote their goods through ads. On the other hand, consumers can know the information of goods and discount deals available in the market, so they can take informed decisions.
- Advertisements can be beneficial to a business because they can inform new customers of the existence and virtues of its products and services. Doing so may increase the number of customers that frequent the business.
- Advertisement helps a business to establish an identity and a reputation within a certain industry. They help businesses build brand recognition.
- Seller always wants to make more revenue through selling goods and services. Though advertisement are termed to be quiet expensive ,but if advertising campaign increases revenues enough to offset the cost of running ads, they can result in higher profits.
- By advertising, you can make consumers aware of the existence and availability of your product. Raising awareness about product helps in persuading consumers to buy and use your product, convincing them of quality of the product.
Testimonials from satisfied customers or reporting achievement of quality standards in advertisements helps in building confidence and preference for your product.
Disadvantages of Advertisement
- Most advertisements have become an exaggeration than reality. They are all glitter and very little truth. Advertising aims to present a product in the best light possible. For example fairness product make people feel insecure about their color of skin, no fairness cream can lighten the skin color in a week time , as melanin in the skin is responsible for one’s skin color.
- Most of the ads uses fake photoshop images and make false promises. Through advertisements, customers get to know the different options of products that are available for a specific utility function. They are made attractive and convincing that the consumer is forced to buy the product out of curiosity.
- Advertising does not create demand, as no matter how hard you try you cannot sell a product to someone who had no use for it.
- Advertisement related to health products may also not live up to their promises, resulting in waste in consumer’s money. Advertisement for prescription drugs has resulted in unrealistic expectations about the effectiveness of drugs and their side-effects. Disclaimers are often hidden in very small print on product packaging and in out-of-the way spots in ads.
- Advertisement related to weight loss influence how people feel about themselves often in negative way. Based on the images seen in advertisement women often feel they should be thin and beautiful. These images are often unrealistic and unattainable.
- False Advertisement is illegal, because it is basically fraud. Laws protecting consumers against false advertisements should be the extent of ad regulations. More often the advertised item makes “half-true claims” or neglects important information.
Helpful or just eye wash
Advertisement has both sides of pros and cons and cannot be completely banned even if the cons overshadow the pros. Advertisement is a very effective means of communication between the seller and the buyer and without ads we would be living under ignorance about new products and their values. Advertising is good if done in the right manner because they provide the consumer with information about the good & service which allows person to make a well-informed decision. Although not all the ads are an illusion, there are quite a few genuine ads. So, it is up to the customer to be careful while getting influenced by an ad. To a certain extent advertising is certainly good for the consumer if done correctly and in unbiased manner.
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