what is the role of advertising in increasing and decreasing economic well being, by giving examples from pakistani market, explain two benefits arises from existence of brand names

Advertising plays a key role in the economy (either increasing or decreasing) by providing relevant information to consumers citing what they stand to benefit when they use the product or service, also the price it's sold for.

Explanation:

Advertising could be described as displaying your product before the public for awareness, which could later lead to sales. Advertising plays a key role in the economy (either increasing or decreasing) by providing relevant information to consumers citing what they stand to benefit when they use the product or service, also the price it's sold for.

Having a brand name plays a vital role to organization; the following are some;

- A brand name gives your business a face, it's all your customers need to know about you in a moment.

- A brand name is a marketing tool your customers can use to tell others about your product.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

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