Advertising, History and Economics of

Advertising, which can be defined as the brand-initiated paid communication aiming to inform and/or persuade members of a target market about their products, services, organizations, or ideas, is a prominent feature of contemporary cultural, social, and economic life. According to the American Advertising Association, studies show that the average consumer is exposed to up to 10,000 brand messages daily in consumer societies. With marketers utilizing more channels to disseminate their advertising messages to reach their consumers, the extent, sophistication, and complexity of brand messages increase. Thus, the impact of advertising becomes more comprehensive as brands search for competitive advantage and effectiveness in communications.[Page 20] This entry focuses on the history of advertising and its economic impact on society.