Advertising in Media (Article Sample)

Name
Tutor:
Course
Date
Advertising in Media
Media Economics Journal was produced in 2014 by Alan B. Albarran. It is a premier journal for latest researches in the field. It discusses different marketing structures that are presented by the advertising business, creating various economic impacts. Advertising is a competitive market since it contributes to product differentiation, allowing the customers to make the appropriate decisions in their preference for a given product over another on the same value or function. In module 7, on advertising, the differentiated products have positive impacts on the economy since society is shaped more by the nature of the media than the content. Variables such as media competition, consumer expenditures, demands and utility are examined.
The economist theories such as the Maslow’s Hierarchy of Needs, demand and supply concepts are essential in the study of the mass media in companies and industries. The increasing consolidation and concentration of the advertisement policies in the media industry merge as important economic approach in the development of the society. Different analytical tools are applied in the statistical data analysis to determine the output from the advertisements components; dramas, videos, arts and entertainment (Media Economics Journal, 7).
Moreover, the media advertisement focuses on the need of saving and investing on the proper incentives that will fetch good financial outcomes to the companies. With the market competition increasing at high rates, proper microeconomics concepts will lead to creation of wide volumes of advertisements that translates to wide manufacturing of goods.
Media content could be used symbolically to present reality on how innovations in the manufacturing influence the human culture and schemes. These technological developments are significant shifts from the traditional advertising methods to modern ways that are more inclusive. Alan B. Albarran reports that different macroeconomic theories would intervene in the classical advertising incentives, enhancing the content providers to offers more information and entertainment to their consumers and the advertisers who form the demand side of the market.