In a complete paragraph of approximately 7 to 10 sentences, write an objective summary of the article. The article “Advertising” was about the history of advertising and how its survival depends on advertising. Some of its main points were, for example, it brought up the topic that advertising agencies must chose to whom and how they will present their advertising. Thinking about whether they want their ad to be seen many time by a small audience or seen a few time by a large audience.
Another main idea was that when firms use major advertising campaigns that many other firms can afford them, these firms tend to dominate the market. The last point they talked about was the fact that firm that present unpleasant or negative advertising affect the media it was presented on. Which counteracts on the firm since with a smaller audience on the media it was presented on, the smaller the audience who see their ad. Based on what you have read, what can you infer about the relationship between advertising and the price you pay for a product and/or service?
Please include a direct quote from the article to support your inference. Answer the question in 2 to 3 sentences. The relationship between advertising and the price you pay for a product and/or service is seen in the third paragraph of the article: “… It has been argued that the consumer must pay for the cost of advertising in the form of higher prices for goods… “. In other words, the consumer is persuaded buy the goods/service. And that same consumer is also paying for the cost of advertising, which then helps the advertising company make more advertisements.