advertising
Nowadays, advertising is a very big business. Very often is the major means of competing among firms. Furthermore, supporters of advertising claim that it brings specific benefits for consumers. First off all, they claim that advertising provide information to consumers about the quality or the availability of several products. This is very important for consumers because they do not waste time for searching (search costs). If we suppose, that consumers want to shop at the lowest price shop but, they do not know which is the store with the lowest prices, then they gather information by reading and watching advertisements and TV commercials respectively or by visiting several stores. This action of consumers makes prices to fall, but only if consumers have the appropriate information. Otherwise the prices may rise. Supporters of advertising also claim that advertising may encourage price competition among the firms, if prices feature significantly in the advertisement. In addit!ion to this, by increasing sales through advertising, firms can gain economies of scale, which means that it will help to keep prices down. As we can understand information is very essential for consumers, not only because it lowers the prices, but also be
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Some common words found in the essay are:
, Philip Morris, Furthermore Disclosure, Carlton Perloff, American Brands, quality products, consumers information, firms advertise, Advertising Percent, philip morris, information products, products consumers, advertising improve consumers, quality products consumers, information means, noted advertising, information quality products, gather information, appropriate information, consumers information quality, supporters advertising claim,
Approximate Word count = 1059
Approximate Pages = 4 (250 words per page double spaced)
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