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Advertising Test #1 book review

Advertising Test #1 book review - Advertising Test#1...

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Advertising Test #1 Chapter 1: Background of Today’s Advertising Advertising is a communication tool that requires 2 primary components: o Centralized exchange- a system of trade and marketing through specialized intermediaries rather than  direct exchange of goods between buyers and producers Advertising was needed to make potential consumers aware of the goods available o An economy in which supply surpasses demand. When products are scarce and demand is high, advertising’s role is largely limited to letting  buyers know the location and price of goods However, when mass production creates a surplus of products and competing brands,  advertising must not only inform and persuade consumers that these products exist, but also  give consumers reasons to purchase one brand/product category over another The Civil War and the Foundations of the Advertising Industry: o The beginning of the fulfillment of democratic ideals Public education led to a literate population and interest in the political process created both a  need and support for newspapers and magazines The movement had its foundations in Europe’s Age of Enlightenment in which a philosophy was  introduced that held the individual capable of discerning truth from falsehood, and in a open  marketplace of ideas, falsehoods would be identified and rejected as part of some natural  process o The industrial revolution  Technological expertise created the high-speed presses that enabled the publishing of mass  circulation magazines and newspapers that carried the advertising that provided their financial  foundations The growth of these empires created the need for skilled workers who earned higher wages and  moved from the farm to urban centers 1
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o The introduction of the railroad and telegraph Connected the country economically and culturally Provided a means of national distribution  o National Brands The impetus for a sophisticated advertising structure based on product differentiation and  consumer loyalty Changed the relationship between buyers and sellers from one of commodity goods to that of a  marketing system based on consistent product quality and identification  o Entrepreneurs Men realized the benefit and advantages of being the first in the marketplace with branded  goods Quaker Oats cereal in considered to be the first national marketer Advertising’s Modern Era: Research and Responsibility 2 elements missing in most advertising during the early years of the 20 th  century were: o An ethical framework for creating promotional messages
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