Advertising is the attempt by firms to raise awareness of their brand and product in the hope of making greater sales.
Advertising can involve various media but the most common include:
- Product endorsements
- Sporting Events
Attempts to get customers to buy products who are otherwise unlikely to purchase the good. Sometimes persuasive advertising can verge on the exploitative. For example, subliminal advertising messages are illegal in most countries.
Supporters of advertising argue that advertising can be useful for informing customers about a greater range of products.
Costs of advertising
Billions of pounds are spent every year on advertising. This leads to increased price for consumers. But, most consumers seem to prefer heavily advertised goods because it creates a feeling of assurance.