Advertising Is a Waste of Money
Advertising Is a Waste of Money
Joe Shotwell Economics & Institutions (SEMBA2)
Globally, advertising has become a waste on money. In the past, the evolution of advertising has mitigated the advancement of technology. Since 3000BC, word-of-mouth and signs were the only forms of advertising.2,7 Businesses had storefronts on Main Street and advertised by using window dressings and signs such as sandwich boards. Eventually, the advent of the printing press allowed for a wider distribution of information and advertisements soon followed in newspaper and magazines.7 Stores were still “downtown” and people had to travel to the business, but businesses that advertised in local circulations received more foot traffic, thus more sales and revenue. Some say that this was the start of marketing and advertising agencies.7 During the 1920s, radio was mainstream and a commercial medium. For the first time, advertising could be heard as well as be seen.7 A radio was virtually in every home in America and Europe. Serial adventures and music captivated their audiences and in 1841, the first advertising agency was formed in Philadelphia.2,7 Volney B. Palmer contracted with local printing and radio agencies for ad space. Palmer implemented a unique campaign – it sold their contracted ad space to other agencies for more money.7 Sales of advertised products soared and advertisers rushed to produce catchy jingles – a practice that is still used today. Televisions were beginning to become affordable in the 1950s. For the first time, advertisements were in motion. Advertisers needed to make mini-movies in 30 or 60 second clips to effectively entice potential buyers. With the advent of television, demographics now played an important role in marketing.7 Moreover, cable television expanded the channel selection by providing more specific programming. This allowed advertisers to narrowcast via demographics. Originally, advertisers used specific time slots as a reflection of age groups.
Joe Shotwell Economics & Institutions (SEMBA2)
Globally, advertising has become a waste on money. In the past, the evolution of advertising has mitigated the advancement of technology. Since 3000BC, word-of-mouth and signs were the only forms of advertising.2,7 Businesses had storefronts on Main Street and advertised by using window dressings and signs such as sandwich boards. Eventually, the advent of the printing press allowed for a wider distribution of information and advertisements soon followed in newspaper and magazines.7 Stores were still “downtown” and people had to travel to the business, but businesses that advertised in local circulations received more foot traffic, thus more sales and revenue. Some say that this was the start of marketing and advertising agencies.7 During the 1920s, radio was mainstream and a commercial medium. For the first time, advertising could be heard as well as be seen.7 A radio was virtually in every home in America and Europe. Serial adventures and music captivated their audiences and in 1841, the first advertising agency was formed in Philadelphia.2,7 Volney B. Palmer contracted with local printing and radio agencies for ad space. Palmer implemented a unique campaign – it sold their contracted ad space to other agencies for more money.7 Sales of advertised products soared and advertisers rushed to produce catchy jingles – a practice that is still used today. Televisions were beginning to become affordable in the 1950s. For the first time, advertisements were in motion. Advertisers needed to make mini-movies in 30 or 60 second clips to effectively entice potential buyers. With the advent of television, demographics now played an important role in marketing.7 Moreover, cable television expanded the channel selection by providing more specific programming. This allowed advertisers to narrowcast via demographics. Originally, advertisers used specific time slots as a reflection of age groups.