Do you agree or disagree that spending budget on advertising is a waste?
Advertising is a single component of the marketing process. It is the part that involves getting the word out concerning your business, product, or the services you are offering. It includes in such mediums as newspapers, direct mail, billboards, television, radio, and the Internet.1 Joseph Levine, legendary film producer and advertising guru, said, “You can fool all the people all the time if the advertising is right and the budget is big enough.” 2 This quote shows that advertising plays an important role in influencing consumer-purchasing decisions and of course, the budget of a company is very important as well. Marketing managers debate weather spending budget on advertising might not be worth to invest; however, other advertisers and companies feel that advertising gives them such benefits in the business world.
Opponents of spending budget on advertising claim that it is a waste to advertise via the arrival of new technologies, notably the internet, because it is not seen as being particular good at building brand by consumers. However, such an argument completely ignores the fact that advertising via the internet such as, social media, creates brand awareness. As you know that Twitter and Facebook, work with the ‘friend’ concept. People can give you positive reviews, recommend your product and tweet about your company. This whole social community allows your company’s name and brand to be viewed by a significant amount of people. According to one of Twitter clients, for example, PeachorLemon, a car review website, gained over one hundred followers on Twitter within a week. This is a hundred more people who know about promotions and offers, may tell their friends, visit the website or use other social media outlets to mention PeachorLemon. All this creates brand awareness and thus increasing its value.3
Opponents also maintain that placing...