Advertising is the most important tool in the marketing of products and services. Companies all over the world universally accepted this fact. The expenses on advertising are considered to be a profitable investment that reaps profits both in the long and short run. Businesses that keep on advertising regardless of rise or fall in the economic times get a competitive advantage over those that cut their ad budgets.
There are many benefits of advertising which include:
1. Information to the customer
Advertisement about new products keeps the customer informed about the new developments in the industry. They help to provide them information regarding the newly launched products.
2. Takes care of customers
Advertising takes care of customers. It helps in holding on to the loyal customer, decreasing the number of lost customers and enlisting new customers. Thus the overall effect of advertising is increase in the number of customers that will gradually become loyal to the product.
3. Improves the sale of product
Advertising facilitates a noticeable increase in the sale of the product. It thus helps reduces per unit cost of the product and help the businesses to earn profits.
4. Alters the attitudes of people
An effectual advertisement results in a swift change in the attitudes and habits of the people.
5. Direct communication
In earlier days customers believed on the opinions of retailers, when making the purchases of products. With the rapid spread of media and advertising to every nook and corner of the world, people have become aware of the various products that are available in the same category and the freebees and benefits of purchasing them. So the companies or manufacturers are able to communicate their message directly to the customers.
6. Economic progress
Advertising increases sales, employment and profits. The overall effect of all this is economic progress for the nation, or more broadly for the world as a whole.
Advertising through every medium offers some or the other benefits. But nowadays, one of most popular medium of advertisement is through SOCIAL MEDIA. the cost of advertising is quite high but the benefits in the long run balance the high cost associate to it. So, companies should concentrate on advertising as an important medium to sell their product and services.
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