Advertising Improves The Standard Of Living - 954 Words

Advertising Improves the Standard of Living As with advertising educating the consumer, experts and critics debate whether advertising improves or harms the population s standard of living. Advertisements help create a large demand for products. Because of this, companies purchase a wide variety of these products in bulk, which lowers the cost for them per unit. Then in turn, they can sell these products to the consumer for a lower price. Without advertisements, companies would only buy a limited amount of products, which then would make the price point they would purchase it at much higher. This would then raise the price they would have to sell it for to the consumer. Because advertising increases the probability of success that new products will succeed, consumers have a greater variety of choice in products and services (O Guinn, Allen, Semenik, 2015, p. 81). Due to the masses that advertisements can reach, and how fast it can reach the consumer, product innovation has the abili ty to succeed. If it was not for the advertisements, the consumers would not even know about the products. (O Guinn, Allen, Semenik, 2015, p. 81). Although, one can argue that advertising improves the standard of living, there are those who can argue that advertising is lowering the standard of living. The critics who believe strongly about this feel that advertising represents an inefficient, wasteful process that does little more than shuffling of existing total demand, ratherShow MoreRelatedBoom And Bust During The U.s. And World Economies1623 Words   |  7 Pagesin 18 months. As the economy picked up, easy credit and speculation created stock market and property bubbles that had devastating effects when they eventually ended. 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