ISSN: (Online) 2321 -4155
ISSN: (Print) 2320 -7000

GROWTH AND SIGNIFICANCE OF ADVERTISING: CHALLENGES & OPPORTUNITIES

ABSTRACT

 

Advertising plays a key role in the contemporary society wherein it has become a necessity and a part of daily life that is often driven by markets, competition and other competitive challenges. Advertising has become a crucial marketing tool especially with the emergence of new and convergent media. Apart from performing various functions like promotion of sales, introduction of new product/service, creation of good public image, educating people; advertising encourages competition and develops standard of living. Sometimes it misleads and misrepresents facts and cheats its customers putting customer satisfaction and customer service on margins. This is where need for regulating advertisements arises to uphold customer service and satisfaction. Advertising is an old profession. Its history dates back to ancient Greece and Rome where signs were used to carry information for advertising goods and services. These signs consisted of illustrations of symbols of the products advertised. Afterwards printing signs were replaced by written words and advertising began appearing in print and broadcast media. Nowadays, advertising has assumed a central stage in almost every human activity and crores of rupees are spent on this creative activity. Though multiple laws are available in Indian context to support customers but in the absence of specific and well-spelt out regulatory framework or legislation, problems get multiplied. Consequently, need for uniform legislation regulating advertising industry across the country has been immensely felt. The paper delieberates upon the manifold facets of the world of advertising.

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