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Advantages And Disadvantages Of Advertising To The Economy

Being aware of advertising is essential in the battle against debt. We live in a world were commercialism reigns. “Look at how beautiful you will be in this” and “You will not be happy unless you have that”. It is really a poison that many people fall sick to. (It being a poison if you truly can't afford it) It is funny how so many people don't like being told what to do, teenagers especially, yet in reality its what advertising really does and all fall victim to it to some degree. To be a good advertiser, you have to make people think they need something but not that your telling them they need it. However the point of this article is not on how to become a good advertiser but rather to be aware of what advertising's affect on your wallet.

I find the people who find themselves in a debt trap have often gotten themselves into it by obviously spending more than they can afford. But why would someone cognitively go and do this? True could be it was a careless misunderstanding of what your bank account was looking like, or that you forgot there were other payments out there for the month. But for many, it was that they figured they could not live without a product or that it just tempted them to such a degree that they just “Needed to have it” or they “Owed themselves it” Yet what tempted them in the first place, advertising perhaps?

Good advertising has a multiple effect, let me explain. If a company makes a product and it sells well from their initial advertising campaign, well suddenly everyone who has that product now is indirectly advertising for that product. A company loves this because their ROI (Return on Investment) just increased without further help on their part. So if your neighbors have the fancy new garden accessory, or newly finished driveway, tile roof and you like it, then your neighbors are indirectly advertising the product to you. So it is just good to be aware of the messages that the world can through at you. It is important to interpret each financial pull and put them in order of importance in your head. Sometimes just understanding why you might be desiring something can help you see it in a different light.

Advertising And Brand Management

Advertising and PR are two different functions, however, many business do not know the difference. Since spending your advertising budget and your PR budget effectively is crucial, how can you expect to accomplish this important goal unless you understand the difference?

When thinking of advertising, billboards, glossy spreads, quarter-page newspaper advertisements and other forms of highly visible promotional material comes to mind. This is clearly advertising. Branding or creating a well-recognized presence for your company is a clear example of effective advertising. Business cards with pizzazz are a form of advertising.

What, then, is PR? Public relations are those things that must be accomplished to let the world know who you are and what your company offers. Press releases, news conferences, professional networking and exhibitions or trade shows are examples of PR work. PR is not as flashy as advertising but it is every bit as important.

Effective Advertising and PR

In today's competitive marketplace, it is crucial to spend every bit of your advertising and PR budget strategically. Public relations can provide a mix that uses advertising but also enhances the efforts of your advertising dollar.

It has long been a "supposed fact" in business that word of mouth is the best advertising. This is not necessarily true. It is an unfortunate fact that a customer who has an exceptional experience dealing with your business will tell one or two people about their experience. A customer who has a bad experience will tell at least a dozen people and your business gets negative advertising.

Word of mouth is, however, one of the most effective PR tools available. Offering school tours, sponsoring science fairs or children's' sports teams, volunteering for public speaking opportunities, attending trade shows or presenting at conferences are rather inexpensive ways to build a wealth of good will and put your name out front.

Have you noticed that television commercials for a product often run a 15 to 30 second advertisement of a really great advertisement and within a few weeks shorten the advertisement to the most important 5 to 10 seconds? The reason is that the initial advertising is meant to brand the product or service and associate the advertisement and the product or service in your mind. It works very well - provided you have really memorable advertisements.

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