It is well known that “money makes money”. For example, a business should advertise its products to create awareness. An average individual gets 1,000 messages every day from different brands. This promotes business. However, advertising comes with advantages and disadvantages that should be considered. Here are the pros and cons of advertising.
1. Reach many people at the same time: Advertising opens the door for reaching many individuals at the same time. It helps to know primary customers and where they belong thus giving information that allows cloning. Also, it reaches new demographics.
2. Solves problems: Advertising provides a value proposition for products. Customers need to know how something can solve problems before buying. If the value gotten is good or better than the message advertised, it creates a solid relationship with clients.
3. Set products from the competition: People want to purchase want to buy good products at an affordable price. For instance, a bottle of champagne goes for $100 and Dom Perignon goes for $20. Someone will prefer to buy 5 bottles of Dom at a cheap price.
4. Provides information: Consumers have different perspectives and preferences for products. This includes flavors, prices, and specific comparisons that show how one item is appealing. Advertising help customers to select their choice.
5. Inspires: Adverts can create imaginations that inspire people. For example “God made a farmer”, the simple sentence inspires people.
6. Promote moral and social issues: Public adverts create awareness through campaigns including homelessness and bullying. These messages spur support and people across the world benefit from it.
7. Promotes global culture advertising: helps to fund things that we enjoy nowadays. For example, the London games of 2012 required $3.5 billion to run. These costs were covered by advertising sponsorship.
8. Support economic: There is an increase in GDP when advertising is available. The growth rate is live if adverts are major points of emphasis. Further, industries that advertise have better growth than those that do not.
9. Creates employment: Advertising gives 18 million jobs in the United States which supports the economy. There are improved revenues that grow jobs within industry and business.
1. Expensive and time-consuming: Advertisements are not affordable. It costs money and time to complete successfully. For instance, creating videos, editing the content, uploading resources as well as responding to comments.
2. Unguaranteed return: A business can spend $1 million on advertisements and receive a $0 return.
3. Sometimes unethical: Children under the age of 10 can believe everything they see on tv. Not all advertisements are ethical, some influential people spend money on something not intended. Someone can see a picture of unhealthy foods including burgers and pizza. Then they will decide to buy instead of preparing healthy food.
4. Ruin enjoyment: Placement of product may ruin experiences. Some products crush over others hence creating a negative effect.
5. Miss intended targets: The main aim of advertisements is to reach intended targets. People may decide to change stations, switch television, or not log on to the internet for long.
6. Nuisance: When the same advertisement happens many times, it becomes a nuisance to the audience. Political campaigns are always irritating and repetitive.
7. Advertisements are linked with media: Advertisements are received through media. It lowers the subscription prices of magazines and newspapers.
8. Difficult in delivering unique information: Advertisements reach globally in minutes. It is hard for the business to be unique on its own. Advertising requires innovation and finding new ways to stay unique.