Limiting advertising created bigger tabacco companies that shut out newer companies. Demand remained constant because it's a drug...That might work for other drug like coffee or pop/soda or social media but will not work for Tom's hardware and nails having an excess inventory of power drills
People will still always need power drills and nails, even more so than cigarettes. Do you honestly believe the hardware industry would collapse if it were forced to stop advertising?
Now, the biggest problem with advertising is that it is an arms race. If your competitors are advertising and you are not, or are investing significantly less than them, you're very unlikely to remain competitive for long (assuming the products are even vaguely similar in quality).
With a ban on advertising the biggest companies the ones we all know will benefit as no alternatives would be known. Some brands can spend endless amounts of money and I wouldn't purchase their product because of past experience or reputation.
Banning advertising would collapse industries or reduce market size and limit any expansion efforts.
> With a ban on advertising the biggest companies the ones we all know will benefit as no alternatives would be known.
Why? If I go to a hardware store and see a new power tool on the shelves that looks sturdy and costs less than the existing ones, why would I not buy it, or at least look for reviews on it?
Edit: this would be especially true in the longer term, as consumers start forgetting the marketing and there are no more "premium brands". In the near term after a ban, the older advertising still holds some sway, which of course creates a disadvantage for new brands. Still, a small price to pay for making the market more rational.
