The American Marketing Association has defined Advertisement as: “Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor.”
Almost everything in the world can be advertised products, services, events, ideas these days many professional people such as doctors, lawyers and actors also advertise themselves.
Advertising is a very important marketing tool in today’s modern world and especially for all the developing countries; an effective advertisement creates wonders in both big and small business concerns. It helps in building the primary demand of a product or service in the market and increase the amount of usage of product and its market share.
Advertising is considered as a great medium to inform the potential client about the availability of a new product in the market or to reach new areas or new segments of population within existing areas, to develop overseas markets.
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It is a great method of increasing brand awareness and creates a reputation and reliability of a product. A good advertisement must be attractive and be based on human-psychology.
Magazines, newspaper, television, internet, radio, hoardings, billboards etc, are some of the means of advertisement. We see walls painted with advertisements, distribution of handbills to promote the sale, big posters or Hoarding displayed at prominent places to serve this purpose.
In television we see commercial advertisements. Advertisements surround us in our everyday lives. James Randolph Adams, a renowned author on advertising psychology says, “Advertising is the principle reason why the business man has come to inherit the earth” It is almost impossible to escape advertisements.
According to advertising critics- Advertising assaults not only our eyes and ears but also to our pockets because more than 2 per cent of national income is spent on advertising and this results in increase in cost of production.
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Hoarding stare down at us from the sides of the roads; crude neon sign wink above the shops, jingles and slogans assault our ears, pictures of washing machines and jewelry and clothes in magazine take up more room than the letter space. An advertiser uses countless means to catch the consumer’s eye, such as celebrity appeal, fantasy, sexuality, comedy, and plain old creativity
Although certain things cost more because of advertising, other things cost less. Newspapers, magazines, commercial radio and television carry advertisements and the money received from the advertisers helps them to lower the cost of production.
In this way we get information and entertainment at lower prices that would otherwise have to be charged at higher prices and so what we lose on the swings we gain roundabouts. Apart from this consideration, advertising to some expert ensures that a product will maintain its quality.
It also gives rise to competition among manufacturers which benefits the customers by offering him a wider choice. Competition may even succeed, in some cases in reversing the influence of advertising and causing a reduction in price.
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Many advertising agencies have been developed. These advertising agencies have ample of expert and creative personnel that helps in creating creativity and effective advertisements and reach the advertising goals of a company.