MKTG 330 Lecture Notes - Lecture 6: Shock Advertising, Abercrombie & Fitch, High Visibility
Document Summary
The purpose of this final chapter is to evaluate the social, ethical and economic aspects of advertising. Advertising is a very powerful and influential force in our society, and this text would not be complete without considering the various perspectives and criticisms regarding its social and economic effects. The first half of the chapter focuses on the various criticisms of advertising from an ethical and societal perspective. Attention is then given to appraising the effects of advertising on the economy including its effect on consumer choice, competition, and product costs and prices. Perspectives regarding the economic effects of advertising are summarized by considering two principal models or schools of thought: the advertising = market power and advertising = information perspectives. It should be noted that the primary focus in this chapter is on social and economic aspects of advertising, as this is the promotional mix variable that is the subject of the most concern, controversy, and regulation.
