Advertising is necessary to all business in order to get their goods sold. Without letting consumers know about the products how are products going to get to the consumer? Advertising draws attention to the product or service, which can be performed through a number of mediums, such as television, radio, billboards, flyers, sandwich boards, web banners, adverts in newspapers and magazinesand on vehicles, be it company or public transport such as buses and trains. Anywhere where there are people advertising can be found. It is all part of the promotional strategy that helps sustain the business within the markets, which in turn lets business understand what the consumer wants and the sort of prices the consumer will be willing to pay for the product. Adverts keep the consumer up to date with new developments, for instance new variations of electric cars that are now becoming more environmentally acceptable to use. This is beneficial to governments that are trying to exact a change in behaviour towards the environment and carbon emissions.
The benefits of advertising produce customer loyalty that can bring a long-term competitive advantage; this will be most significant during times of a slow econiomic growth or recession. If business continues to advertise strongly during a recession rather than cutting the budget, this will bring confidence from consumers and continue the ‘brand loyalty’; this will keep the business going whilst others can fail. Advertising increases the sale of the product that benefits both the business and the consumer, with extra profits the business can afford to treat the consumer with more cost-effective products.
The benefits of advertising produce customer loyalty that can bring a long-term competitive advantage; this will be most significant during times of a slow econiomic growth or recession. If business continues to advertise strongly during a recession rather than cutting the budget, this will bring confidence from consumers and continue the ‘brand loyalty’; this will keep the business going whilst others can fail. Advertising increases the sale of the product that benefits both the business and the consumer, with extra profits the business can afford to treat the consumer with more cost-effective products.