Advertising is not only a business activity but also a social institution as it affects our values, culture, societal norms and standards. Everyone in society gets vitality from advertising.
Advertising intervenes in nearby all aspects of economic and cultural life. It highlights and stimulates a certain vitality in production and trade, and therefore also in the invention.
Advertising stimulates progress while respecting social values.
Advertising provides many benefits to society and the economy.
Importance of Advertising to Society and Economy
Benefits of advertising to society and economy can be explained under the following points:
1. Socio-Economic Institution
Advertising is only of society’ many institutions, it is literally embedded in much more basic and powerful institutions such as the family, the school, the church, and the political and legal system.
Moreover, advertising operates within the deeply rooted and, in the long run, fundamental characterises of a society. It shares society’s norms, sanctions, and rewards.
Undoubtedly, any system of ass communication will have an impact on both the social institution and cultural traits and thus, ultimately, on the members of society.
2. Instrument of Social Influence and Control
Advertising now can be compared with such long-standing institutions as the school and the church in the magnitude of its social influence.
It dominates the media, it has vast power in the shaping of popular standards, and it is really one of the very limited groups of intuitions which exercise social control.
Yet analysis of society has largely ignored it.
3. Wide Power of Persuasion
Adverising is a powerful technique of persuasion in a society.
Through this mass communication (advertising) people seek to subvert governments, win the allegiance of new countries, and turn every political situation to their own advantage.
4. Journey from Survival to Affluence
Personal and mass communication, have been key factors in shaping the long journey from survival to abundance and, eventually, to affluence and beyond.
Modern, affluent societies have become particularly dependent on the existence of a mass communication system, for this system carries information about all possible individual and social choices with regard to work, religion, politics, and so on.
Affluent societies are now faced with the problem of managing this system: how can a mass communication system help society and its members make choices concerning the quality of individual and social life.
5. Component of the Educational System
Advertising is basically a part of knowledge. It imparts values, cultural ideas and valuable lessons of lifestyles. It teaches basic knowledge to the masses.
The educators should be able to learn from the advertisers how to “teach” in areas of knowledge where there are o basics or agreed upon doctrines, and the advertiser should be able to learn from the educators how to send much more information a intellectually stimulating messages.
Advertising is a great educator. It provides no horizons of knowledge. It is a form of education.
It imparts valuable messages and thoughts to others. Every meaningful advertising is a piece of information and definite theme.
Advertising enlightens the general public in a delightful way.
Thus, it acts as an edutainer (educator and entertainer).
6. Upholds the Culture of a Nation
Cultural values reflect a nation and its people. Culture of a nation is affected by social dynamics. Values keep changing.
Advertising accepts and maintains the value structure of society. Advertising is an instrument of new ambitions within the limits set by culture.
Advertising influences the attitudes, habits, likings, fashions and actions of consumers.
It affects thoughts, gestures and behaviours of the people while upholding the culture of a nation.
7. Uplifts the Standard of Living
It has been widely accepted that advertising raises the living standard of millions.
It creates wants. It increases production and consumption. It also increases national income and expenditures. It promotes the distribution of quality goods.
All these factors work to uplift the living standards of people.
8. Social Guide
Advertising has become a means of social change. It is an inseparable part of free speech. It is or social leader.
Advertising and social change, The institution of family, religion, and education have grown noticeably weaker over each of the past three generations.
The world itself seems to have grown more complex. In the absence of traditional authority, advertising has become a kind of social guide.
It depicts us in all the myriad situations possible to a life of free choice. It provides ideas about style morality, behaviour.
9. Generates Employment Opportunities
Advertising generates employment opportunities directly and indirectly.
Direct employment is open in various jobs created by advertising such as copy designers, interior designer, copywriters, artists, painters, photographers, singers, message writers, comperes, musicians, pressmen, executives and many others to help in the advertising process. Indirectly, advertising stimulates the production of goods.
The advertising industry is heavily dependent on papers, painters, colours, dyes and chemicals, electronic gadgets, sound apparatus and visual aids.
Employment in these industries is generated due to the advertising business.
10. Fosters Economic Growth
It can stimulate an increase in production ad consequently generate more employment.
It can help stabilize prices and thus lead to a wider distribution and greater availability of goods and services.
Advertising can encourage consumption and foster economic growth.
It not only informs customers of available goods and services but also facilitates entry into markets for a firm or a new product or brand, leads to economies of scale in production, marketing, and distribution, which in turn lead to lower prices, and hastes the acceptances of new products and the rejections of inferior products.
11. Growth of Media
The acceptance of advertising by different media enhances the potential for revenues.
This, in turn, helps the launching of new publications and expending the media.
It is an open fact that advertising provides more than 70% of the cost of magazines, more than 75% of the cost of newspapers and nearby 90% of the cost of TV and radio.
Thus, now you know the importance of advertising to society and economy.