ASHLEY ROBERTS HAIRSTYLES on It is clear that for markets to work effectively buyers must be well informed, and advertising has an important role to play in the information process. However, some economists have argued that the fact that advertising is supplied by the sellers of products leads to distortions. There is likely to be an over supply of advertising, in that more advertising messages are produced than consumers would be prepared to pay for if they were sold separately; but since consumers are forced to pay for the advertising in the form of higher priced goods the PHOTOS Martignana di Po (Lombardia), VIEW IMAGES Italy Colorno Wikiwand y have no choice. Opponents of this view point to the failure of lower priced, nonadvertised products, e.g. supermarket ˜own brands™, to replace the more expensive advertised products as evidence that consumers prefer advertised goods, and suggest that opposition to advertising stems, therefore, from paternalistic disapproval of the ˜irrationality™ of consumers. There may also, of course, be biases in the information presented to buyers, and the true information content of advertising messages may be low, with a preponderant use of devices to exploit consumer psychology in ways favourable to the product. ASHLEY ROBERTS HAIRSTYLES 2016.
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