Advertising is basically defined as a non-personal and paid form of communication about certain services or products through the mass media, so as to influence, inform or persuade the target audience. Joe Cianciotto mentions that over the years, advertising has emerged as one of the most commonly used tools by companies to increase their brand awareness, and encourage the consumers to purchase the services or products offered by them. Advertising can be done through a variety of mediums, such as newspapers, television, radio or even the internet. Based on their target audience, companies choose the perfect advertising medium for their products.
Advertising typically directed to an expansive target audience, and not a single individual, and therefore is known as a non-personal form of communication. Joe Cianciotto mentions that the popularity of advertising has over the years augmented considerably, especially in urban hubs like New York where organizations have to deal with stiff competition. Advertisements typically carry a message to the customers and remind them about a certain product and its features. There are many benefits offered by the system of advertising. Here are a few of them:
- Introduces a new product in the market: Advertising is typically the primary and the most effective way with the help of which new products are introduced in the market. Without proper advertising, there would be a high chance that the customers would not even know about a new product being launched, and hence they shall not even think about purchasing it. Advertising significantly helps in stimulating people to purchase a newly launched product.
- Expansion of the market: Advertising paves way for the manufactures to expand their market reach. It significantly helps in exploring new markets for the relevant products or services, while retaining the existing markets. Advertising plays the role of a sheet anchor when it comes to widening the market for the products of the manufactures, by making people living in far flung and remote areas aware of the offerings of a company.
- Increased Sales: Joe Cianciotto mentions that advertisements typically facilitates the mass production of goods and helps in enhancing the volume of sales. In simpler terms, it can be said that sales of a company can be significantly increased with an additional expense on advertising, and subsequently with every increase in sale, the overall selling expenses of a company shall decrease.
- Fights Competition: Advertising is especially crucial for companies in large urban hubs and metro cities, like New York, as it is extremely helpful in meeting the high competition level prevalent in the modern market. Consistent advertising is prudent for the purpose of acquiring an edge over the competitors.
- Enhances Goodwill: Advertising is known to be quite instrumental in enhancing the brand image and goodwill of an organization. It helps in increasing the reliability factor of a company in the market.
Due to the great advantages offered by the system of advertising, it is used extensively by companies across the world.