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I agree with the first loop. I think there are very few markets where the 2nd loop actually exists. 1. There is constant innovation, even in the most establis
by dantheman 8y ago
I agree with the first loop. I think there are very few markets where the 2nd loop actually exists.
1. There is constant innovation, even in the most established areas people are always trying new things.
2. Advertisement is an education campaign. There are always new people that have a problem to solve and they may not be aware of what exists.
- TeMPOraL 8y ago> 2. Advertisement is an education campaign. There are always new people that have a problem to solve and they may not be aware of what exists. That's motte-and-bailey defense of advertising. Yes, it also serves to help people discover off-the-shelf solutions to their problems. But that's not its primary function, nor it's where most money is being made. The discovery part is easy - in fact, most of the times it's best done in pull fashion ("I have a problem, let me look for solutions") instead of push ("here is a solution for the problem you didn't know you had"). Most of advertising is about misleading people to make suboptimal choices - choosing the product whose vendor is best at advertising, instead of the one best suited for the need - and about fighting for a fixed-size pie of customers in a given market.