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CHAPTER 3. ECONOMIC,SOCIAL AND REGULATORY ASPECTS OF ADVERTISING. ECONOMIC IMPACT OF ADVERTISING. GDP(2.3 %) VALUE OF THE PRODUCT PRICE OF THE PRODUCT COMPETITION CONSUMER DEMAND(PRIMARY AND SELECTIVE) CONSUMER CHOICE(ABUNDANCE PRINICIPLE) BUSINESS CYCLE. ETHICAL ISSUES OF ADVERTISING.

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Chapter 3

CHAPTER 3

ECONOMIC,SOCIAL AND REGULATORY ASPECTS OF ADVERTISING


Economic impact of advertising
ECONOMIC IMPACT OF ADVERTISING

  • GDP(2.3 %)

  • VALUE OF THE PRODUCT

  • PRICE OF THE PRODUCT

  • COMPETITION

  • CONSUMER DEMAND(PRIMARY AND SELECTIVE)

  • CONSUMER CHOICE(ABUNDANCE PRINICIPLE)

  • BUSINESS CYCLE


Ethical issues of advertising
ETHICAL ISSUES OF ADVERTISING

  • ADVOCACY

  • ACCURACY

  • ACQUISITIVENESS

  • DETERMINE WHAT IS ETHICAL

  • WHO SHOULD AND SHOULD NOT BE TARGET MARKET

  • WHAT SHOULD OR NOT BE ADVERTISED


Common criticism of advertising
COMMON CRITICISM OF ADVERTISING

  • DECEPTION IN ADVERTISING (PUFFERY)

  • SUBLIMINAL ADVERTISING

  • IMPACT ON VALUE SYSTEMS(ARTIFICIAL DEMAND,USE OF APPEALS)

  • ADVERTISING CONTROVERSIAL PRODUCTS(TOBACCO,ALCOHOL,PRESCRIPTION DRUGS


  • PROLIFERATION OF ADVERTISING

  • USE OF STEREOTYPES IN ADVERTISING(WOMEN,RACIAL ,ETHNIC,SENIOR CITIZENS)

  • OFFENSIVENESS IN ADVERTISING(TASTE,SEX APPEAL)

  • CHECK AD LAB 3-A P65


Social benefits of advertising
SOCIAL BENEFITS OF ADVERTISING

  • CREATES EMPLOYMENT

  • ACCEPTANCE OF NEW PRODUCTS AND TECHNOLOGY

  • PROVIDES CHOICES

  • KEEP PRICES DOWN

  • CREATE HEALTHY COMPETITION

  • SUPPORTS COST OF MEDIA


Government regulations of advertisiement
GOVERNMENT REGULATIONS OF ADVERTISIEMENT

  • FREEDOM OF COMMERCIAL SPEECH

  • PRIVAY RIGHTS-ONLINE ADVERTISING

  • ADVERTISING TO CHILDREN(CHILDREN ADVERTISING REVIEW UNIT)

  • TOBACCO ADVERTISING

  • CHECK ADLAW.COM TO REVIEW SOME OF PENDING CASES ON ADVERTISING


Major regulating agencies
MAJOR REGULATING AGENCIES

  • FEDERAL TRADE COMMISSION

    • DECEPTIVE ADVERTISING

    • ENVIRONMENTAL CLAIM

    • UNFAIR ADVERTISING

    • COMPARATIVE ADVERTISING

    • ENDORSMENTS AND SUBSTANTIATION


Other regulatory agencies
OTHER REGULATORY AGENCIES

  • FEDERAL COMMUNICATION COMMISSION

  • FOOD AND DRUG ADMINISTRATION

  • PATENT AND TRADEMARK OFFICE

  • STATE GOVERNMENT OFFICES

  • BETTER BUSINESS BUREAU



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