The Advertising Industry
The advertising industry has always been a key part of how consumer's get information about products and how their buying behavior has changed. Think about if you wanted a soda and walked into a store to find a can of Coke sitting next to a can of soda you had never seen or heard of before. It could be exactly the same product, but because it is packaged in a way that hasn't been advertised to you, you might feel distrustful of it. That's why advertising has played such a powerful role in sales over the years.
How the Advertising Industry Has Evolved Over the Years
There have been four significant inventions that have influenced advertising over the years. First there was the printing press, which allowed for widely disseminated information of words on paper. Then there was radio, television and, most importantly, the internet. Each one has managed to all but make the one prior obsolete - but all are still used in some fashion.
Why the Advertising Industry Is Important to the Economy
Advertising is crucial to the success of an economy. It helps to keep individual businesses afloat, and it also encourages consumption and supports other industries at the same time. Consumption is what drives our economy. We need to keep consumer confidence high in order to bolster the economy. If people stop buying goods, demand decreases and people lose jobs. The advertising industry helps to convince consumers that they still need certain things and encourages more consumption which leads to job growth and a bolstered economy. Without the advertising industry, everyone from large businesses to workforces to individuals with families would suffer.
The Different Channels the Advertising Industry Uses to Reach Consumers
The advertising industry uses many different channels to reach consumers. Initially it relied on the printing press, and now it largely relies on the internet. The internet is a cost-effective way to reach customers because targeted marketing has gotten so sophisticated that your marketing dollars are directed in the best possible way. For instance, if a consumer is interested in buying a new vacuum cleaner and they start researching different options online, companies can purchase advertising solutions that will put an ad for a specific vacuum cleaner in front of them when they are scrolling through Facebook or online news, etc. It's an incredibly effective way to target new customers.
In short, the advertising industry is here to stay, and it's exciting to witness the new directions it is taking and how it will continue to shape our economy in the years to come.