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Why do companies advertise their products
These days we see all kind of products being advertised in the mass media. From pen refill to diamond jewellery, everything seems to be advertised by the companies. The question that arises in my mind is that what is the need to advertise all kind of products under the sun?
Companies advertise their products for a number of reasons. The basic idea is to introduce and promote the product for sale. When a company launches a new product it advertises the product in order to create awareness and consumer interest. It also intends to boost the sale.
Some companies advertise their products to build brand loyalty. Some companies advertise their products to change attitude of the customers, to make the product ‘upmarket’ or to subside some widely held perceptions about the product.
When the products get old, the idea behind advertisement is to reassure and remind the customers about the products.
Companies also tend to advertise their products to offset the products launched by the competitors. In this era of cut throat competition, even that seems to be a legitimate reason behind product advertising.
Some companies hire most popular celebrities to launch their new products or to relaunch the old products. Since people tend to follow the products used by their favorite celebrities blindly, that has become a sure shot method to up the sale.