Question

Explain the importance of Advertisement in goods market.

Answer 1

Advertising is basically a way of communication. Any business or company uses the advertising method to communicate with the public regarding its brand, product or services. Advertising is crucial for the launch (introduction) of a brand new product, service or idea in the market. It acts as an open invitation that maximizes the chances of event attendance. Advertising is a prime source of revenue for publishers of mass media like newspapers, TV channels, magazines, websites, and so on. Advertisements create awareness about a brand and help in increasing the demand for a product or service. The increased demands result in increased sales and so, profit goals of a company are attained with the help of advertising. Advertising is not only about promotion. It also educates people and makes the society aware about various issues. Many social issues like female foeticide, child labour, child abuse, etc., are also raised thorough sensible advertisements. Thus, advertising also helps in educating people and spreading awareness.