What is advertising and why is it important ?
Advertising is a type of paid promotion that brings attention to your key message, and it’s the crucial next step for making your digital marketing strategies work. It increases your exposure to help you achieve your business goals, whether you’re aiming to build your customer base or quickly grow your sales volume. Advertising helps in disseminating information about the advertising firm, its products, qualities and place of availability of its products and so on. It’s important because it can drive business growth. It’s important because it can drive business growth. Advertising works to your business marketing and helps you reach the right audience with positive, targeted messaging that converts potential customers into paying customers.
How does advertising help a business ?
Advertising can increase sales by telling potential and current customers about your new product launches, special offers and improvements. Apart from reminding current customers about your business, advertising can also help to create or develop a distinctive brand for your business.
What are the benefits of advertising in business ?
12 Major Advantages of Advertising– Explained!
(1) Introduces a New Product in the Market:
Advertising plays significant role in the introduction of a new product in the market. It stimulates the people to purchase the product.
(2) Expansion of the Market:
It enables the manufacturer to expand his market. It helps in exploring new markets for the product and retaining the existing markets. It plays a sheet anchor role in widening the marketing for the manufacturer’s products even by conveying the customers living at the far flung and remote areas.
(3) Increased Sales:
Advertisement facilitates mass production to goods and increases the volume of sales. In other words, sales can be increased with additional expenditure on advertising with every increase in sale, selling expenses will decrease.
(4) Fights Competition:
Advertising is greatly helpful in meeting the forces of competition prevalent in the market. Continuous advertising is very essential in order to save the product from the clutches of the competitors.
(5) Enhances Good-Will:
Advertising is instrumental in increasing goodwill of the concern. It introduces the manufacturer and his product to the people. Repeated advertising and better quality of products brings more reputation for the manufacturer and enhances goodwill for the concern.
(6) Educates The Consumers:
Advertising is educational and dynamic in nature. It familiarizes the customers with the new products and their diverse uses and also educates them about the new uses of existing products.
(7) Elimination of Middlemen:
It aims at establishing a direct link between the manufacturer and the consumer, thereby eliminating the marketing intermediaries. This increases the profits of the manufacturer and the consumer gets the products at lower prices.
(8) Better Quality Products:
Different goods are advertised under different brand names. A branded product assures a standard quality to the consumers. The manufacturer provides quality goods to the consumers and tries to win their confidence in his product.
(9) Supports The Salesmanship:
Advertising greatly facilitates the work of a salesman. The customers are already familiar with the product which the salesman sells. The selling efforts of a salesman are greatly supplemented by advertising. It has been rightly pointed out that “selling and advertising are cup and saucer, hook and eye, or key and lock wards.”
(10) More Employment Opportunities:
Advertising provides and creates more employment opportunities for many talented people like painters, photographers, singers, cartoonists, musicians, models and people working in different advertising agencies.
(11) Reduction in the Prices of Newspapers and Magazines Etc:
Advertising is immensely helpful in reducing the cost of the newspapers and magazines etc. The cost of bringing out a newspaper is largely met by the advertisements published therein.
(12) Higher Standard of Living:
The experience of the advanced nations shows that advertising is greatly responsible for raising the living standards of the people. In the words of Winston Churchil “advertising nourishes the consuming power of men and creates wants for better standard of living.” By bringing to the knowledge of the consumers different variety and better quality products, it has helped a lot in increasing the standard of living in a developing economy like India.
what is importance of advertising to businessn ?
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.
Is advertising good for the economy?
The study found that advertising contributes to the wider economy through its ability to support competitiveness, providing consumers with information on products and services, and helps to increase their choice of goods and services.
How can advertising improve business?
Advertising can increase sales by telling potential and current customers about your new product launches, special offers and improvements. Apart from reminding current customers about your business, advertising can also help to create or develop a distinctive brand for your business.
