And it is not an entertaining device but entertains everyone. Effect on Our Value System: But if there is more competition in the market for those products, the prices have to come down, for e.
But there are some bad effects of advertisements on business cycle also. They are as follows.
It helps collecting more revenues for sellers which they use for betterment of product and services. But at the last, there are some great positive aspects which help Development of society and growth of technologies Employment Gives choices to buyers with self interest Welcomes healthy competition.
Even if the product is heavily advertised, it does not mean that the demand or say consumption rates will also increase.
There are some unadvertised products also present which are good enough. Social role of Advertising: Btu then there is some ads which are educative also and now accepted by people. Sometimes, consumer may find the foreign product better than going for the national brand. Effect on business cycle: These problems can be overcome if the seller keep their ads clean and displays right image of the product.
The economic aspects are supported by the Abundance Principle which says producing more products and services than the consumption rate which helps firstly keeping consumers informed about the options they have and secondly helps sellers for playing in healthy and competitive atmosphere with their self interest.
It is not related to studies, but it educates. Capturing the Minds of the consumers is the main intention of these ads. The advertisers use puffing tactics, endorsements from celebrities, and play emotionally, which makes ads so powerful that the consumers like helpless preys buy those products.
But advertising helps increase value for the products by showing the positive image of the product which in turn helps convincing customers to buy it.
Advertising educates consumers about the uses of the products hence increasing its value in minds of the consumers. It is not a journalist but gives all information. For example, the ads of denim jeans showed girls wearing very less clothes and making a sex appeal.
Economic role of Advertising Value of Products: Thus some professional like chartered accountants and doctors are not allowed to advertise.Economics Implication Of Advertising Impact Of Advertising Impact based advertising is a form of advertising designed to have a lasting psychological effect on viewers so they will remember the product or vendor.
This approach can help advertising produce the greatest results for a given expenditure.
Economic role of Advertising Value of Products: The advertised products are not always the best products in the market. There are some unadvertised products also present which are good enough.
But advertising helps increase value for the products by showing the positive image of the product which in turn helps convincing customers to buy it. Socio-Economic and Ethical Implications of Advertising – A Perceptual Study Dr. Raghbir Singh* Sandeep Vij** Abstract Depending upon the public opinion about the social, economic and ethical aspects of advertising, the marketers and the public policy makers should take different stances on how advertising should be treated.
The study has analyzed in detail the public response to the issues like: ‘Targeting Children in Advertising’, ‘Use of Sex in Advertisements’, ‘Promotion of Materialism through Advertising’, ‘Use of Comparative Advertising’, ‘Ethics in Advertising’, ‘Use of Celebrities in Advertising’, ‘Economic Effects of Advertising’; and ‘Public Policy on Advertising’.
This study, commissioned to answer just that question by the Institute of Canadian Advertising, examines the effect of advertising on the Canadian economy, on business, the consumer, costs and prices, productivity, competition, employment, social welfare and economic growth.
Is advertising a factor that contributes to rising costs and prices? This study, commissioned to answer just that question by the Institute of Canadian Advertising, examines the effect of advertising on the Canadian economy, on business, the consumer, costs and prices, productivity, competition, employment, social welfare and economic growth.Download