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Why do businesses advertise
Advertising is an essential part of running a business. In the old times, a good business reputation was sufficient to help it sustain its customer base. However, as competition has grown in the market, businesses have found it hard to lure customers their way. Here are a few reasons why businesses advertise.
1. It helps businesses gain visibility
If you own a business that sells, let’s say, fish bait and you live in an area that has a lot of bait sellers, you’d need a way to ensure that the customer has a way of identifying your product on a store shelf. A good and memorable advertisement would help customers remember the name of your brand and gain preference for it in the future as well.
2. It helps business promote their wares
Advertisements help businesses promote their wares by telling consumers about the benefits of using their product. Ads help businesses tell consumers about the qualities of their wares as well as about special promotional schemes like sales and discounts.
3. It allows businesses to gain more customers
The single biggest reason why businesses advertise is to gain customers. Given the mounting competition in all fields in the modern world, it is hard for a new business to gain customers and convince them to try their wares instead of buying something from another brand. A good advertisement helps business gain the attention of consumers which helps them boost their sales.
4. It helps business target consumers
Targeted advertising allows businesses to sell products by appealing to the sensibilities of a particular segment of consumers. For example, a shoe brand would advertise a high performance shoe keeping in mind the needs of athletes while they would use advertisements highlighting the stylishness of other shoes to appeal to style conscious demographics.