Read this article to understand the topic of the advantages of disadvantages of advertising in brief…
Advantages / Merits of Advertising
The advantages of advertising are also known as the merits of advertising. It includes various points like:
The benefits explained by advertising are numerous. It is one of the most essential components of the marketing process. This is very beneficial or important to traders, manufacturers, consumers, and society as a whole. Advertising offers the following merits:
The major advantages are as follows:
- Expansion of the market
- Introduces a new product in the market
- Fights competition
- Increased sales
- Enhances goodwill
- Elimination of middlemen
- Educates the consumers
- Supports the salesmanship
- Better quality products
- A higher standard of living
- Increase employment opportunities
- Reduction in the prices of magazines and newspapers etc.
1. Expansion of the market:
It enables the producer to expand his market. It helps in exploring new targeted markets for the product and retaining the existing markets. It plays a vital role in widening marketing for the producer’s products even by conveying the buyers living at the far-flung and remote areas.
2. Introduces a new product in the market:
Advertising plays a very important role in the introduction of a new product on the market. It stimulates the persons to purchase the product.
3. Fights competition:
Advertising is greatly in meeting the factors of competition prevalent in the market. Regular or continuous advertising is very essential in order to save the product from the grasp of the competitors.
4. Increased sales:
The advertisement provides mass production to products and increases the volume or capacity of sales. In simple words, sales can be increased with additional expenditure on advertising with every increase in sale, selling expenditures will decrease.
5. Enhances goodwill:
Advertising is work like an instrumental in increasing goodwill of the concern. It identifies the producer and his product to the individuals. Regular or repeated advertising and better quality of products bring a more extra reputation for the producer and enhances goodwill for the concern.
6. Elimination of middlemen:
It objects at establishing a direct link between the producer and the consumer, thereby eliminating the marketing intermediaries or middlemen. This also increases the revenue of the producer and the consumer gets the products at lower or cheap prices.
7. Educates consumers:
Advertising is dynamic and educational in nature. It familiarizes the buyers or customers with the new products and their diverse uses and also educates or teach them about the new uses of existing products.
8. Supports the salesmanship:
Advertising greatly facilitates the task of a salesman. The buyers are already familiar with the product which the salesperson sells. The selling efforts of a salesperson are greatly supplemented by advertising. It has been rightly noticed out that “advertising and selling are saucer and cup, eye and hook”.
9. Better quality products:
Various goods or products are advertised under various brand names. A branded product assures a standard or optimum quality to the consumers. The producer provides quality or better goods to the consumers and tries to win the confidence and trust in his product.
10. A higher standard of living:
The experience of the advanced nations shows that advertisement is greatly responsible for increasing the standard of living in the people. According to Winston Churchil, “advertisement nourishes the consuming power of men and generates wants for the optimum standard of living.”
By bringing to the information of the buyers different variety and standard quality products, it has helped a lot in enhancing the standard of living in a developing economy like India.
11. Increase employment opportunities:
Advertising creates and provides more employment opportunities for many experienced or talented people like photographers, painters, cartoonists, singers, models, musicians and individuals working in different advertising agencies.
12. Reduction in the prices of magazines and newspapers etc.:
Advertising is extremely helpful in reducing the cost of magazines and newspapers etc. The cost or charge of bringing out a newspaper is mostly met by the advertisements published therein.
Disadvantages / Limitations of Advertising:
The disadvantages of advertising are also known as the limitations of advertising. It includes various points like:
1. Advertisement appeals make individuals use such articles as might affect their health like cigarettes, pan-Parag, and so on.
2. Advertising is very expensive. Regular or repeated advertisements are required to protect consistent consumer attention. A huge advertising budget is needed which only the large business houses can afford.
3. National or local advertisements demand heavy expenditure to promote the products and the prices of these brands go higher by about 20 to 25 percent.
4. There is always a substantial possibility of wasted efforts on account of such messages diffusion. Advertisements can never appeal correctly to the target market like personal or face to face selling.
5. Like face to face or personal selling, advertising will not convince and fulfill the requirement of a single customer. The requirements of the buyers or customers are not similar.
6. Advertisements once set cannot be adjusted very often to the reaction of the buyers. Unlike face to face or personal selling, it is only single way communication and can not answer the objections raised.
7. Most of the ads magnify the fact to influence the consumers or buyers. But in the term of the long run, it does not help to secure and serve much-desired confidence of the buyers or consumers.
8. When the customers are no more attentive in the advertisements prevent the entry of small business firms and try to generate a monopoly in the market and consumer’s interest are sacrificed.
9. The types of advertising media carry many information and messages competing to protect the attention of the consumers simultaneously, which creates noise in the pattern of communication.
10. Individuals with low purchasing power cannot afford to purchase many articles through the advertisements create a powerful need in them for the product. This creates a section of the society remain dissatisfied.
So, this the full explanation on the topic of the advantages and disadvantages of advertising…