(a) Explain five reasons for which manufacturers advertise their products. (b) State five reasons for...
(a) Explain five reasons for which manufacturers advertise their products.
(b) State five reasons for the continued criticism of advertising.
Explanation
(a) REASONS FOR WHICH MANUFACTURERS ADVERTISE THEIR PRODUCTS
(i) It is used to make customers aware and familiar with a product.
(ii) It can be used to introduce a new product in the market.
(iii) It can be used to snatch customers from rival businesses and also prevent existing customers from patronizing the rivals.
(iv) It increases the demand for a product.
(v) Branding is made effective through advertising/Maintain brand loyalty.
(vi) It encourages large scale production by creating mass markets.
(vii) it helps to improve the quality of the product being advertised.
(viii) It helps to educate members of the public on the special features of the products.
(ix) It promotes the image of the manufacturer.
(b) CRITICISM OF ADVERTISING
(i) It adds to the cost of the product.
(ii) It may mislead consumers by making false claims about a product.
(iii) It encourages waste by making consumers buy what they do not actually need.
(iv) It encourages domination of the market by a few big firms that advertise more to the detriment of small firms/ Leads to monopoly.
(v) It perverts the youth by constantly showing falsely glamorous images making them discontented as they cannot live up to those images.
(vi) Some advertisements on commodities like cigarettes, encourage people to consume what is harmful