You should spend about 40 minutes on this task.
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?
REPORTED IN MAY, 2021
Most often companies are seen showcasing their products as new and innovative in the market by means of adverts. There is a psychological reason behind this and it is situational to decide whether it is positive or negative.
When analysing the reason why this happens, the most tangible is the intention of the businesses to exploit the curiosity of the customers towards something new. To be clearer, even if a person has a product which serves a specific purpose, if he comes to know there is a newer product, which serves the similar purpose, he is most likely to buy it.
From the manufacturer’s point of view, this is the best technique to wake up the consumerist behaviour in a potentially inactive consumer. With the help of luring advertisements, these companies reach out this population and they create an environment which is best suited for the purchase. Added offers and easy down payment facilities are seen as secondary tactics they use to attract more customers.
From the customer’s point of view, it opens the opportunity to get updated with the current trends. For example, if they buy a smartphone which features AI technology, they feel they are updated in the society. However, the real fact is that many often, they are deceived with these adverts. To explain it further, many customers hardly can satisfy their minds when they buy gadgets which are advertised in such a manner, and very soon they find that they bought a white elephant.
To conclude, the only reason why companies advertise their products as new is to increase their sales by exploiting the customers’ mentality towards the new, and it has both positive and negatives depending on different situations.
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