Advertising is targeted messages that communicate information from a company to individual and groups of consumers. This medium allows companies to draw consumers to the company’s goods and services. In can also influence consumer buying behaviour, which helps companies increase sales revenue.
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Economic markets include companies that supply goods or services and consumers who make purchases relating to these items. While consumers will need to purchase goods to live a certain quality of life—such as food, clothing or housing—other products are not as necessary. Therefore, companies must find a way to drive demand for other products.
Advertising can help companies develop consumers' awareness to an unmet need or introduce a product that consumers may see as valuable. This influence is often present when new products enter the market. Customer awareness is often low for these items until companies promote them and attempt to drive customer demand through advertising.
Companies may also need to use advertising to stave off the popularity of a competitor’s products in the economic market. This will result in advertisements that will influence consumers to change their buying behaviour and switch products for specific reasons, such as cost or quality.
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