What is advertising?
Advertising today is a major industry. Each year between 1-2% of all income in the UK is spent on advertising. Without advertising, there would be no radio or television, very few magazines and newspapers and no 'free' newspapers.
Most advertising is communication between sellers and potential buyers [consumers and other pro-ducers]. Advertisements should be informative but some advertisements contain no words, only colours and pictures and the brand name.
Demand can be affected by advertising. But, producers could also introduce 'new' products to increase sales or pack the product differently. An individual's wants are determined by age, tastes and status.
The Trade Description Act has been broken if an advertisement contains an error. Misleading adverts should be reported to:
- Trading Standards
- Advertising Standards Authority
A newspaper never knowingly publishes a mislead