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Advertisements - Coggle Diagram
Advertisements
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Expansion of the Market
It enables the manufacturer to expand his market. It helps in exploring new markets for the product and retaining the existing markets. It plays a sheet anchor role in widening the marketing for the manufacturer’s products even by conveying the customers living at the far flung and remote areas.
Increased Sales
Advertisement facilitates mass production to goods and increases the volume of sales. In other words, sales can be increased with additional expenditure on advertising with every increase in sale, selling expenses will decrease.
Fights Competition
Advertising is greatly helpful in meeting the forces of competition prevalent in the market. Continuous advertising is very essential in order to save the product from the clutches of the competitors.
Enhances Good-Will
Advertising is instrumental in increasing goodwill of the concern. It introduces the manufacturer and his product to the people. Repeated advertising and better quality of products brings more reputation for the manufacturer and enhances goodwill for the concern.
Educates The Consumers
Advertising is educational and dynamic in nature. It familiarises the customers with the new products and their diverse uses and also educates them about the new uses of existing products.
Elimination of Middlemen
It aims at establishing a direct link between the manufacturer and the consumer, thereby eliminating the marketing intermediaries. This increases the profits of the manufacturer and the consumer gets the products at lower prices.
Better Quality Products
Different goods are advertised under different brand names. A branded product assures a standard quality to the consumers. The manufacturer provides quality goods to the consumers and tries to win their confidence in his product.
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Advertisements have a positive role to play in modern society, helping us choose between competing goods. Many adverts are drawing our attention to products with new features, for example more powerful computers, telephones which are also cameras and music players, or foods with added vitamins. Other adverts try to compete on price, helping us seek out the cheapest or best value products. Advertisements also benefit the company that made the ad by promoting products or services they sell.