In their advertising, businesses nowadays usually emphasise that their products are new in some way. Why is this? Do you think it is a positive or negative development?
Advertising is the most effective source for companies to sell their products. It is believed that companies are trying to show their products new in the market. Apparently, modernization and westernization are to be blamed for this universal phenomenon. However, it has negative effect on society.
Fundamentally, there are predominant factors. First and foremost, not only competition between businesses for selling products is rising day by day, but also manufacturing quality products is vital for companies to succeed. For example, according to the BBC research, it is revealed that the companies who make new products and emphasize that their product is new, have 70% of chance that their product will sell in the market. Secondly, most of the products that companies manufacture are more or less the same as the existing product. However, businesses try to show all of their products as unique. Since people prefer to buy new products in contrast to existing products. Therefore, it becomes inevitable for companies to show their products new while advertising.
Nevertheless, I find this trend negative for various reasons. Chiefly, most of the companies sell fake products in the market, just to show their products as new and unique than their competitors. For instance, according to Forbes Magazine, it is revealed that 30% of the new products that brands launch every year are fake or not value for money. Although selling new products is a great way for businesses to generate immense revenues, companies sell the latest products in the market at sky-rocketing prices. Hence, these products are usually not value for money, they are just a method of making money.
To conclude, both customers and businesses retrieve benefits from launching new products in the market. However, companies should not sell fake products or not value for money products to people.
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