Advertising plays a significant role in current competitive marketing situation to promote products and services. It is important to create demand, increase sales, provides product information, develops brand loyalty etc.
The importance of advertisement are described as follows:
The importance of advertisement are described as follows:
1. Demand creation
Advertisement stimulates demand and helps the customers express their reaction towards the advertised goods or services. Advertisement brings positive changes in customers' attitude, interest and behavior. It gives information to customers about utility, price benefits etc. of new product. Advertisement creates interest, desire and curiosity in perspective customers about new products and induce them to buy.
2. Increase in sales
Advertisement increase sales volume by giving information about goods or services and creating demands. Along with this, qualitative benefits also can be achieved through advertisement, because advertisement cost goes lower than the cost of personal selling.
3. Brand loyalty
Potential customers are given information about new products, their use, utility, price, benefits etc. through advertisement at the same time regular customers are remained of the name and brand of the products. This develops brand loyalty in them.
4. Wider communication approach
Advertisement is a wider communication process. It reaches even the places where sellers cannot reach. For middlemen, advertisement can enter geographical markets, perspective customers and create new customers. It facilitates per-sale efforts.
5. Product information
Advertisement is very important for consumers also. It provides information to the consumers about products, new products in markets, use, price, benefits, utility etc. of the products helps them to take buying decision. It arouses product awareness in customers. Then they buy goods and use them. As a result, their living standard rises up. Further on, consumers seek more facilities. Hence, advertisement can have positive influence on social life.
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6. Employment generation
Advertisement helps in industrial expansion and development through creation of new customers and markets. This creates employment opportunities in the country. Many persons involve in advertising job. Advertisement increases income of different advertising media like TV, radio, newspapers, magazines, websites etc.
Advertisement is equally important to producers, sellers, consumers, society etc. It creates demand for goods, increases production, reduces cost of goods, and helps provide goods to customers at cheaper price.
