Online Advertising And The Advertising Industry

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There has been a big shift happening in the advertising industry over the last few years as online advertising has taken over all forms of major advertising tools (newspapers, magazines, billboards, hoardings, sponsorships and TV ads). The online advertising industry is growing rapidly as players like Google, Face book, Apple, Yahoo are investing heavily in their advertising segment. As the number of internet users and social media is on the rise, online advertising is the need of the hour. Targeting a huge population through this medium is relatively more effective and easy rather than the old and classic ways of advertising. From an entrepreneurs or a business’s point of view, people are more aware than ever of all the advertising mediums available and Google capitalizes on this factor successfully. More and more advertisers are shifting towards online technologies and are able to target a large number of customers with the help of these mediums. This has been the main reason for the decline of the newspaper industry which used to be a really effective tool for advertising. The online advertising got a huge boost due to the technology advancements and user friendly tech. gadgets like laptops, smart phones, I pad and Tablet. Online advertising is disrupting all aspects of the global advertising industry, changing how creative work is done, how advertising campaigns are run and how advertising is bought and sold. It is a “two sided market” (Rochet and Tirole, 2003; Anderson and Gabszewicz, 2005). Intermediaries like Google, Face book and Apple facilitates the connection of advertisers and consumers. The global industry analysts estimate that the world online advertising market will reach almost $ 73 billion by 2015, with market gr...

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...lse. People share their favorite ads, give their viewpoint, and word of mouth marketing is created. It also helps in accurately targeting the customers, geographically and according to their preferences and needs. Due to that, businesses are able to successfully advertise by reaching the exact target audience by identifying their location, age, likes and interests, workplace and education. It minimizes redundant information which enables it to give quality results. Face book has also been able to measure how your advertisements are performing and ads manager helps in viewing the costs, real time. The advertisement costs depend on how on the clicks or impressions the ad has received. The advertisements can be created for pages, applications, events and external websites. These factors have given face book a great competitive edge in the online advertising industry.

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