Explain briefly the benefits of advertising to manufacturers and society.
(A) Importance to Manufacturers: The importance of advertisement for manufacturers is cleared from the following discussion:
(i) Enhancing Customers' Satisfaction and Confidence: Through the medium of advertisement the manufacturers spread information about their product to the consumers. Only after having information about the new products, people decide to buy them. In this way, there is an increase in customers' confidence and satisfaction.
(ii) Helpful to Increase the Demand of Existing Products: The manufacturers regularly give information about their existing products through the medium of advertisement. As a result of it, people get acquainted with those products and their manufacturers and they purchase those products time and again. When the old customers repeatedly buy the same product, it also has a positive effect on the new customers. In this way, advertisement helps in increasing the demand for the old products.
(iii) Helpful in Facing Competition: Through the medium of advertisement, a manufacturer can try to establish the superiority of his product in comparison to his competing manufacturers. If this advertisement is carried on properly, he can get success in his effort. In this way advertisement helps the manufacturers in facing competition.
(B) Importance to Society: Main benefits accruing to society on account of advertising are as follows:
(i) Helpful to Generate More Employment: Advertising is instrumental in generating more employment opportunities and creating diverse kinds of jobs. It provides jobs to artists, screen printers, block-makers, script-writers, painter, etc. Today, advertising has become a profession. Some companies do only advertising job.
(ii) Helpful to Improve the Standard of Living: Through the medium of advertising people get information regarding new products. As people use these new and latest goods, their standard of living gets a boost. Advertising is helpful in providing employment and increasing income of the people. Both have a positive effect on their standard of living.
(iii) Helpful in Survival of Communication Media: Main communication media are Newspapers, Magazines, TV, Radio, etc. Major source of their income is advertising. If these media of communication do not get support of revenue from advertising, they cannot survive for long. These media of communication keep the society well informed. Their existence is of utmost importance and they can survive only by advertising.
