Right from neon signs to billboards, you come across advertisements on a daily basis. And as if that was not enough, they even make it to your living room during your favorite TV shows and sporting events. With so many advertisements that we are subjected to on a daily basis, it's no surprise that most people are left wondering why is it so important to advertize ... why are companies willing to spend millions on advertising.
Importance of Advertising
An advertisement is a message―designed by the manufacturer―to persuade consumers to buy his products/services. There are different types of advertising, channelized through different means of mass media. At the end of the day, these messages are meant to give suggestions to consumers, and therefore, they have to be appealing. So manufacturers spend millions of dollars on advertising agencies, which promote their products and services.
The objective of advertising is to help the manufacturer to spread awareness about his products in the market and to educate the consumer about the options available.
Today, the advertising industry has become a multi-billion dollar industry, and going by the recent trends, it doesn't seem like its growth is going to cease anywhere in the near future. One of the most important tools of marketing, advertising is the driving factor when it comes to buying and selling of goods and services.
Its Importance in Business
It's a well-known fact that the aim of any business is to sell goods and services with the sole intention of making profits. The consumer though, will only go for goods and services you offer when he knows about their existence, and this is where advertising comes into the picture. If you are selling a particular product, which boasts of numerous benefits, and you are not keen on investing in advertising, the end user may not even realize that your product exists. Simply put, the advertising industry provides a platform for business entities to spread awareness about the products and services offered by them.
Contrary to the popular belief that advertising is only restricted to the television, radio, or newspapers, off-beat methods, like word of mouth and event sponsoring, can also work wonders for a business. A good advertisement is one which doesn't just attract the new consumers, but also persuades the loyal consumers of the rival firm to shift bases.
From the Consumer's Perspective
Advertising is important for the consumer as it makes him aware of the various choices that are available. Though we get irritated every time the commercial break starts or every time an Ad pops up while we are surfing, we do go through them religiously when we intend to but these products. In fact, we would be lying if we say advertisements do not influence our decision. While there is no denying the fact that Ads can be intrusive at times, that should be fine as long as the consumer gets the best options to choose from.
While there are numerous advertising techniques, choosing the right technique is very crucial. A billboard Ad will never work for a software company, while an email advertisement will never work for an auto repair shop. These are apt examples where the target audience is not taken into account, and therefore, the end result is most likely to be a disaster.