Advertising is more complicated than it used to be. In the innocent days of the 70’s and 80’s you could easily reach large audiences, both locally and nationally, through traditional advertising. Those days are long gone and an examination of the advertising playing field looks like a big pile of incomprehensible choice. Let’s sort through it a bit, by separating advertising into two categories: online advertising and offline advertising. | The Evolution of Advertising Explains about the Principles of Free-Market Economics, Functions and Effects of Advertising. Chapter 2 Objectives Explain the role of competition in free-market economics Discuss the functions advertising performs in a free market Identify milestones in advertising history Discuss how the role of advertising has changed Explore advertising’s past, present, and future impacts on society Many Buyers & Sellers Economics: Principles of Free-Market Economics Self-Interest Complete Information Absence of Externalities Economics: Functions and Effects of Advertising Communicate Product Features and Availability Increase Product Use Build Value, Brand Preference, & Loyalty Reduce Overall Sales Cost Induce Customers to Try Products & Suggest Reuse Stimulate Product Distribution Identify & Differentiate Products (Branding) Economics: Evolution of Advertising Preindustrial Industrializing Industrial Postindustrial pre-1800 1800-1900 1900-1980 1980-present Economics: Evolution of Advertising Stage Waggons ad from the preindustrial age Economics: Evolution of Advertising Preindustrial Industrializing Industrial Postindustrial pre-1800 1800-1900 1900-1980 1980-present Economics: Evolution of Advertising Uneeda Biscuit ad from the industrializing age Economics: Evolution of Advertising Preindustrial Industrializing Industrial Postindustrial pre-1800 1800-1900 1900-1980 1980-present Economics: Evolution of Advertising Weavers of Speech ad from the industrial age Economics: Evolution of Advertising Preindustrial Industrializing Industrial Postindustrial pre-1800 1800-1900 1900-1980 1980-present Economics: Evolution of Advertising American Legacy Foundation ad from the post-industrial age [Insert American Legacy Foundation ad (p. 46) here Position: ” vertical, 3” horiz. Size: ” wide] Economics: Top Global Marketers [Insert Exhibit 2-4 (p. 49) here Position: ” vertical, ” horiz. Size: 8” wide] Society and Ethics: Effects of Advertising Ethical advertising can . . . improve standards of living, inform of availability of products, imbue products with personality, help us make personal statements, & foster the free press & nonprofits. Society and Ethics: Effects of Advertising On the other hand, advertising can: be dangerous if misleading, promote unhealthy products, encourage conformity, glorify conspicuous consumption, or target vulnerable markets. | The Evolution of Advertising Explains about the Principles of Free-Market Economics, Functions and Effects of Advertising. Chapter 2 Objectives Explain the role of competition in free-market economics Discuss the functions advertising performs in a free market Identify milestones in advertising history Discuss how the role of advertising has changed Explore advertising’s past, present, and future impacts on society Many Buyers & Sellers Economics: Principles of Free-Market Economics Self-Interest Complete Information Absence of Externalities Economics: Functions and Effects of Advertising Communicate Product Features and Availability Increase Product Use Build Value, Brand Preference, & Loyalty Reduce Overall Sales Cost Induce Customers to Try Products & Suggest Reuse Stimulate Product Distribution Identify & Differentiate Products (Branding) Economics: Evolution of Advertising Preindustrial Industrializing Industrial Postindustrial pre-1800 1800-1900 1900-1980 1980-present .
