Describe the role which advertising plays in the various market structures.

In a
competitive market, advertising is one of
the many tools firms use to compete with one another.
Firms compete on many
different fronts, including price, features, and brand loyalty.
Advertising
becomes a way to convince buyers to buy one product rather than another. It
attempts
to reach out to consumers and offer them persuasive information or
appeals. Even when products
are essentially identical, brands may compete by
offering consumers other reasons to buy their
products such as environmental
or ethical concerns. A company that makes public its commitment
to reducing
its carbon...

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