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Importance of Advertising in Business & Role of Advertising in Social and Economic Development of India

Importance of Advertising in Business & Role of Advertising in Social and Economic Development ofu00a0India<br>

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Importance of Advertising in Business & Role of Advertising in Social and Economic Development of India

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  1. Importance of Advertising in Business & Role of Advertising in Social and Economic Development of India AkashkumarSrivastava Asst.professor (Mgmt Dept.) IIMT COLLEGE OF MANAGEMENT

  2. Importance of Advertising in Business 1:-Advertising helps to introduce a new business, a new product or service When a business is just starting or when a new product or service is being launched, the fastest and most efficient way to introduce it to the community and to people is through advertising. A good and high-quality advertisement will help to introduce the business to a large population of people within a short period of time. Advertising is one of the major keys to the survival of a new business, product or service. 2:-Advertising gives breakthroughs to businesses Advertising produces quick and dramatic breakthroughs. Over the years, most businesses have experienced breakthroughs with the help of advertising. When a business or a product is not doing well, advertising is one of the ways to boost its position. A qualitative and quantitative advertisement helps both new and old businesses.

  3. 3:-It helps to create awareness about a business or product Advertising helps to create awareness about a product. Advertising is done over a particular period of time. So, it makes people constantly aware of a product or a business. 4:-It helps consumers to differentiate products Companies and businesses use advertising to show consumers differences between their product and other products. The advertisement is not done by necessarily comparing and differentiating products, but in such a way that it shows the uniqueness and benefits of a particular product and imprint it in consumers mind.

  4. Role of Advertising in Social and Economic Development of IndiaAdvertising is a business, an art, an institution, and a cultural Phenomenon. Advertising helps consumers see the possibilities and meanings in the things that they buy. Advertising also liberates meanings that lie below the surface. Advertising is part of our everyday culture as it is omnipresent. On an average, we see close to 1,500 ads per day. Therefore their influence on the cultural consciousness and behavior of the public can’t be denied. In Indian scenario advertising has a very large influence in the mass media market place as it pays most of the bills and thus plays a major role in shaping the content and operation of the mass media in India. Advertising also plays an important role in the popular Indian culture because it shapes and reflects our life styles. It is usually the first to reflect social trends. Example: The print advertisement of Scooty/Bike, AMUL.

  5. Advertising promotes a higher quality of goods through the ability of the consumer to identify a particular manufacturer and thus creating a need for that manufacturer to maintain quality. Advertising also gives business the ability to roll-out new products fast enough to offset the costs of creating such products. Advertising protects industry from government and special control as it democratizes information to consumers as to what products are available. Advertising plays two following broad roles in the socio-economic landscape of a country: 1:-Economic roles 2:-Social roles 1:-Economic Role of Advertising Advertising performs an economic function for an advertiser, affect economic decision of the audience and is an integral part of the whole economic system. Advertising stimulates demand, educate consumer about new product, policies, programmes services and organizations, increase competition and improve standard of life-style by helping to bring new product to the consumer. Advertising boosts the economy by helping to introduce new products faster and more effectively to consumer by supporting to achieve the economies of scale faster and by helping to remove the monopoly of the product.

  6. 2:-Social Role of Advertising Advertising reflects society and society reflects advertising. At social level advertising plays upon, derives from and contributes to the social texture of a country. Various social changes are brought about or helped by advertising. Adult education, family planning and pulse polio campaign are the examples of few successful social advertising campaign. It makes role models who can create societal change. Advertising are efficient source of information for product quality, new material or merchandise, new technology and cost. ƒIt reduces distribution costs, encourage competition and increases product quality through brand identity. ƒIt supports mass media to maintain independence from government, political parties and other special interest groups.

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