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Posted in Community :

Media Entrepreneurship

Started by : Chandan Roy, Creative, J Walter Thompson   11 11 2008 08:44:16 +0000
Industry : Advertising/PR/MR/EventsFunctional Area : Business Policy(Strategy & Execution)
Activity:  42 views;  last activity : 07 06 2010 20:18:09 +0000

Advertisements are supposed to inform people about new products that are out, and explain how they are better than their competitor. Somehow advertisements are starting to be more persuasive than informative. Advertisers seem to be going too far to get their products sold, What is advertising's role in our economy? What useful purpose does advertising serve?

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1 Consumer Insights
2 Advertising: What Role it plays in Our Economy
3 Jobs
4 Capitalist Society
5 Brands

Consumer Insights

idea posted by Shahnawaz Islam PR & Media Relations Manager, National Institute of Smart Governance

Advertising helps create consumer insights. For instance, groups of consumer can get insight about mileage of cars, resolution of cameras, slimness of TVs, energy savings of fridges through advertising.

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Advertising: What Role it plays in Our Economy

idea posted by Shiuli Mukherji Head Strategy Plan- , Region SEA

Advertising is a tool of Marketing. Industries like FMCGs, Retail, Service industry, Pharmaceuticals (OTC) products, etc.. are based on sales and Mktg, therefore, through advertising the product benefits are shared with its consumers. Thus advertising generates revenue by creating need, want and demand, which boosts the economy of a country by promoting consumerism.

It’s a different stream of thought, whether it promotes capitalism or not. Because the basic needs of man in general has to be sufficed and to address that need, there are choices given to him through advertising.

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idea posted by Chandan Roy Creative, J Walter Thompson
You know it makes more jobs for more people. Yes, it is a fact that by creating a growing demand for new products, advertising makes jobs.
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Capitalist Society

idea posted by Sasi Dash Art Director/Sr Art Director, U TV
I think today advertising is an important part of our economy. Advertisers are hired by companies, to come up with ads that will sell their product. Advertisers and marketers say that the world of advertising is very important, because it helps run the capitalist society that we have in this country. They say that by advertising, it keeps the economy running.
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idea posted by Jitena Kumar Rawat Senior Consultant, GKC
It helps you to know the essential differences between several brands, example motorcars, Even if this is only in a very general way. Given unlimited funds, the chances are you would prefer to buy a Mercedes rather than a Volkswagen; or a BMW rather than a Ford. Since you are not a professional automobile design engineer, your understanding of cars has been brought about almost solely by advertising. Even motorcar mechanics are influenced by automobile advertising.
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