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How great of impact this advertisement have on the effects of the US economy?
By Rose | September 18, 2008
Topics: US Economy | 3 Comments »
A Better Path for the US Economy.
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While the US Economy is going through a rough patch, we'll come out of it stronger and better for it. Keep you posts positive, and let's see what we can do together.
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September 20th, 2008 at 7:04 am
One of the major factors to influence demand are consumer tastes and preferences. Advertisements cause consumers to adapt new tastes and preferences causing the demand curve to shift right. If we had no advertisements the US economy would not be as strong because advertisements fuel consumer knowledge of certain products.
Think of it this way. When Christmas comes along, when small children watch TV and see the Tickle Me Elmo doll, or any other product, they know they want that particular product when otherwise they wouldn’t know of the product otherwise. Advertisements help fuel consumer awareness of different products and can change the tastes or preferences of what consumers would usually buy.
September 22nd, 2008 at 9:54 pm
If there was no advertising a lot of people would be out of work. Advertisement is what sells products, not necessarily the quality of the product. On the bright side: If there was no advertising we would all buy less of the unneeded crap.
September 25th, 2008 at 9:06 am
Advertising is one of the major factors responsible for the U.S. economy being what it is today.
Modern advertising as it developed in the USA during the early part of the 20th century allowed for the mass marketing and thus the mass production of consumer goods that led to lower prices and a higher standard of living for our country.
Companies such as Ford Motor Company, Proctor and Gamble, General Electric and many others would not be here now if advertising had not built their companies.
On the downside modern marketing has led somewhat to an homogenization of the USA. The growth of national brands through advertising has led to the decline of small independent businesses in many segments. For instance there used to be hometown soft drink bottlers in many communities, now Coca-Cola and Pepsico dominate and the small brands are largely gone. Likewise the locally owned fast food restaurant has largely disapeared in favor of McDonalds and other national brands in that category.