The Effect of Advertising on Demand and Supply
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The Effect of Advertising on Demand and Supply
Advertising is a marketing strategy that aims to create brand awareness, inform potential customers about a product or service, and persuade them to buy it. Advertising can have significant effects on both the demand and supply sides of the market. In this article, we will discuss how advertising can impact the demand and supply of a product or service.
Demand Side Effects of Advertising
Advertising can influence the demand for a product or service in several ways. Firstly, it can create brand awareness, which is the extent to which consumers are familiar with a brand or product. Brand awareness is crucial in influencing consumers’ purchasing decisions. When a consumer sees an advertisement for a product, they become aware of its existence, which can increase their likelihood of purchasing it.
Secondly, advertising can influence consumers’ attitudes towards a product or service. Through advertising, a company can create positive associations with its product or service, making it more desirable to consumers. For example, if a company advertises its product as being of high quality and durable, consumers may be more likely to buy it.
Thirdly, advertising can stimulate demand for a product or service by creating a sense of urgency. For example, by advertising a limited time offer or a sale, a company can encourage consumers to make a purchase sooner rather than later.
Lastly, advertising can also help to differentiate a product or service from its competitors. By highlighting the unique features or benefits of a product, a company can position itself as the best choice in a crowded market. This can help to attract customers who may have otherwise purchased from a competitor.
Supply Side Effects of Advertising
Advertising can also have an impact on the supply side of the market. Firstly, advertising can increase the visibility of a product or service, making it easier for potential customers to find it. This can help to increase sales and revenue for a company.
Secondly, advertising can help to build a brand’s reputation and credibility. By consistently advertising its products or services, a company can create a positive image in the minds of consumers. This can help to build trust and loyalty among customers, which can lead to repeat business and word-of-mouth referrals.
Thirdly, advertising can also help to reduce the cost of production for a company. By increasing demand for a product or service, a company can achieve economies of scale, which can lead to lower production costs. This can help to increase profitability and competitiveness in the market.
Lastly, advertising can also help to attract investors and partners to a company. By demonstrating strong sales and brand recognition, a company can attract investment and partnership opportunities. This can help to further grow the business and increase its market share.
Conclusion
In conclusion, advertising can have significant effects on both the demand and supply sides of the market. On the demand side, advertising can increase brand awareness, influence consumer attitudes, stimulate demand, and differentiate a product or service from its competitors. On the supply side, advertising can increase visibility, build brand reputation and credibility, reduce production costs, and attract investors and partners. Overall, advertising is a powerful marketing tool that can help businesses to grow and succeed in today’s competitive market.
The Effect of Advertising on Demand and Supply
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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