Answer to Question #213541 in Management for Prabhdeep

Question

SUBJECT : ADVERTISING AND SALES MANAGEMENT

How ( elaborate in 8 points ) is advertising an effective tool to increase Sales? Discuss the role of advertising (give 8 points with elaboration for role) being played in the economy ?

Answer 1

How Advertising Is an Effective Tool to Increase Sales

·Enhance sales by informing potential consumers about your product or service

·Notify customers about changes to your service, new product launches, and upgrades

·Increase short-term sales with a one-time message - tell consumers about a special deal or a feature of your product

·Compel clients to visit your store or website, or utilize a discount voucher

·Assist in the creation or development of a distinctive brand for your business to help you stand out from your competition

·Remind existing customers about your business

·Improve people's attitudes and views of your business

Role of Advertising Being Played In the Economy

·It gives consumers relevant information about product and service options, as well as comparing features, benefits, and costs.

·Due to the marketing of the industries' products and services, it triggers an economic chain reaction that results in a net gain in direct sales and jobs.

·Creates indirect sales and jobs among first-tier suppliers to the industries that spend money on advertising.

·As sales ripple throughout the economy, it generates indirect sales and jobs at all levels of the economy.

·Advertising assists the economy in transitioning from periods of growth to periods of recession by adjusting its focus.

·Advertising contributes to economic growth. Advertising encourages individuals to spend more in a country where consumer spending dictates the economy's future.

·By promoting more purchases, advertising encourages both job and productivity growth, helping to fulfill growing demand and allowing each consumer to spend more.

·When customers and businesses have more full knowledge, they are more likely to purchase additional items and services.