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Advertising - Good or Bad for the Canadian Economy?
Transcript of Advertising - Good or Bad for the Canadian Economy?
dvertising tries to develop a selective demand for a specific product. Advertising creates features like higher megapixels, and lower prices to benefit and persuade consumers. Competition is fierce because their are other companies and markets selling the same product. However, firms don't admit that their products are identical since they slightly differentiate their products from their competition. Firms also differentiate their product in a way they are able to convince consumers that their product is different and better from other producers. Markets determines the price for a various product by matching buyers and sellers for the product making sure that people don't substitute their products for cheaper goods. Competition is so fierce that it surrounds us everywhere from bus stations and shopping malls to radios and television commercials, It is obvious that companies would do anything to promote their goods and services. Competitive advertising may be either direct or indirect. The
t type aims for immediate buying action. The
type points out products that will affect future buying decisions. EX: Ads with direct prices, and phone numbers to call, is most likely a Direct type aim. Ads that focus on the quality of service and suggest you check the web site is an indirect type. Overall, competition creates conflict between markets and industries and the purpose of selling the products for the needs of the consumers changes the other way around.
Advertisement can easily be used to promote a bad cause:
Advertising something harmful like drugs/alcohol, obesity, sex, and women as sex objects not only hurts the Canadians but the economy as well. Since tobacco and alcohol is legal in Canada, advertisers take advantage and this ends up killing or disabling more than half a million people annually. 75% of the movies coming out portray characters smoking but they don't show the cause of smoking. Employing someone who smokes also costs employers thousands a year because of their increased sick days, breaks and insurance which also lowers the work productivity. Young children are growing up very fast because of societies advertising, the advertisements portrays women and men a certain way and promotes products that help them be: younger, skinnier, muscular etc.. This impact is now a big issue in Canada, Children are less likely to be buying stuffed animals and more likely to buy cosmetics, and clothes at a young age.
Advertising powers the economy:
Advertising helps promote and supports
a wide range of
It gives a voice to those who were voiceless before.
A starting up business needs to establish their identity. With advertising businesses are able to
to promote their company and gain
. In theory once the company has established identity they are then able to differentiate themselves from their competition, and advertising allows them to do that. Advertising
competition. It is basically Adam Smith's 'Invisible Hand' theory. Each company, Out of their own self-interests is driven to try to convince consumers that their product is better than everyone else, whether it is because their price is lower or their quality is better. The company that is most competitive is usually one who has the best advertisement.
When companies become more successful it creates more jobs, pays more tax, and their companies growth contribute directly to the economic growth of the GROSS Domestic Product.
Advertisement is costly and promotes unnecessary spending:
Total Canadian Advertisement spent in 2010 was $11.55 billion CAD enough to end unemployment. Advertisement promotes unnecessary spending while also creating and spending thousands of dollars on thousand useless Ads. Guess who pays? Us. When organizers subsidize their product into the mass media, we the purchasers have to pay a grossly increased price to pay for the product itself and the sum of the cost to make the advertisement for that product. Ex: Dove's commercials are huge and that's because we support it by paying 10$ for soap bars when in reality it should be for 2/3$. It's impossible for Canadians to
run away from advertisements; we can't do anything but
watch them play their dirty little tricks.
The quality of adverts can cause the market to rust and subsequently create a situation where economy begins to weaken.
Canadians are constantly being bombarded with advertisements in the hope that they will choose that specific product; they are not thinking about the outcomes of our children.
Huge sums are being put into economy through the money spent on advertising. It boosts the price of goods and services.
Assorted techniques like weasel words are enforced for persuading consumers that they want the product that is being advertised when in reality they don't need it at all. “Advertising is the art of convincing people to spend money they don't have for something they don't need”.
Being completely neutral is impossible; media outlets should inform Canadians of an existing bias. The liberal media bias should be supported in order to give voice to a greater part of the Canadian population.
Advertisement is a huge threat to Canada mainly the children, in today's society children are physically and mentally growing up faster than they should and not in a good way.
Advertising funds sports and culture:
Advertising does an amazing job funding for the media and the creative industry.
Without advertisement, Cinemas box office would be reduced by 300 million.
The cost of running the olympic games and FIFA world cup gets funded by advertisement.
To replace advertising revenues, newspapers would have to double their cover price
Website that we use in our everyday life wouldn't be free anymore if it weren't for the advertisements; without advertising, many of the world’s media would not even exist.
An estimated amount of "
67% of internet users
willing to receive advertisements in return for free content
Overall, Advertising has created so many opportunities and funds media and the creative industry. It has increased Canada's overall GDP by providing Canada with many interesting recreational services and programs. Because of Canada's unique multiculturalism, advertisements can help provide many cultural and ethnic performances like the ones we already have today.
Advertising has been going on for longer than we can remember, it is just in our nature to showcase the best of our ability (or in this case, products)
We see advertisements everywhere in our daily lives that we have just been accustomed to it
Starting up business are able to establish their identity and gain publicity while already established companies are able to keep their consumers interested and reminded
Advertisements allows consumer to have more choice to choose from. Which in theory allows the invisible hand to be put into place
Good cause are able to be promoted. It's an easy way to raise awareness and educate Canadians with only just a little amount of their time
Advertising is able to fund amazing projects that would not have existed and has created many more opportunities
"Advertising and Related Services (Canada)." Government of Canada, Statistics Canada. Statistics Canada, 14 Jan. 2013. Web. 20 Dec. 2013. <http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/serv17a-eng.htm>.
"Sales, Marketing and Advertising Managers." Government of Canada, Service Canada, Quebec, Programs Agreements and Partnership, Regional Directorate. Statistics Canada, 03 Sept. 2013. Web. 19 Dec. 2013. <http://www.servicecanada.gc.ca/eng/qc/job_futures/statistics/0611.shtml>.
Powell, Chris. "Statistics Canada Releases 2010 Industry Revenue Figures." Marketing Magazine Statistics Canada Releases 2010 Industry Revenue Figures Comments. N.p., 29 Feb. 2012. Web. 12 Dec. 2013. <http://www.marketingmag.ca/news/marketer-news/statistics-canada-releases-2010-ad-industry-figures-47509>.
"Value Of Advertising." Value of Advertising. World Federation of Advertisers, 2008. Web. 12 Dec. 2013. <http://www.valueofadvertising.org/home.php>.
How would the economy be impacted if all forms of advertising was banned?
Advertising Investment vs. Rate of Growth
Dyer, Gillian. Advertising as Communication. London [u.a.: Routledge, 1995. Print.
Cook, Guy. The Discourse of Advertising: Written Texts. 2nd ed. London: Routledge, 2001. Print.
Eaton Sarah, Elaine, and Myra Junyk. "The Media Distorts Our Perception of the Human Body." Canadian Points of View Reference Centre. EBSCO, n.d. Web. 2, Jan 2014.
“Economic Action Plan” ads are wasteful conservative propaganda: Editorial. “Thestar.com.NP.17 Sep 2013. Web 12 Dec. 2013.
Engel, Jack. Advertising: The process and practice. McGraw, 1980
"Effects of Advertising on Society." Rev. of Journal, by Goldie Hayko. 08 (2010): n. pag.Hilo.hawaii.edu. Web. 03 Jan 2014.
Ioannis, Kolovos, and Harris Phil. Does Negative Advertising Work? Rep. N.p., n.d. Web. 28 Jan 2013.
Piana, Valentino. "Advertising - a Key Concept in Economics and Management." Advertising - Economics and Management. N.p., 2005. Web. 27 Dec 2013.
Advertisement in Canada is an unnecessary spending that causes a distress to our Canadian's economic growth.
Advertisement can also be used to promote awareness in an economic society:
All over the world advertising has allowed good causes to be promoted. Advertising is an effective way to increase AIDS awareness, promote energy saving, fight domestic violence, or reduce road deaths by encouraging the use of seat belts. In order for companies to sell they sometimes reach an issue that will not only be able to help promote their brand but also promote the cause. For example, Nike has made a commercial about obesity. Advertisements have been a great support for charities since they have raised about $300,000 for various NGO's like: "its okay to say NO" and mothers against drunk driving. Advertisement turns into a form of educational messages to educate people out their strong facts that can keep them safe and the economy safe.
Advertisement powers the economy because it's the lifeblood of the media and it stimulates competition.
Advertising in Canada is a very diverse subject that provides consumers with information about a distinct product giving people choices to make economic decisions. Advertising allows business for companies and employment for people. Unfortunately, too much advertisement for the economy can be negative for the economy. Too much advertisement loses the purpose of advertising being a good thing. Over advertising creates fierce competitions in the market industries, unnecessary spending and the promotion of harmful products and substances to the Canadian economy.
Advertisements are all around us, on the clothes we wear, the movies we watch, the music we hear - but is that really such a bad thing. Many of the thing that come free to us in our daily lives are free
of the advertisements. Although there is no definite answer to how many advertisements we are exposed to daily. An average person is probably exposed to more than 1000 various ads per day. Which only furthermore proves that advertisements have an impact on consumers and in return to our economy. However the question is whether the impact is good or bad. It's easy to prove that advertising is good, it's what makes our world move forward, it's what makes businesses successful, creates jobs and funds the media industry, How great is that?
« Get targeted on kids. Prepare your target. Mark them the soonest possible. Only kids learn well. The Tobacco and Soda Companies know that the soonest kids taste the more addict they will be. The neuroscience taught them the ideal ages for easy learning ». Patrick Georges, Michel Badoc, "book on the neuromarketing", 2010.
How does advertising affect children and how will it impact their future decisions?
What is the relation between advertisements and the economy?