Some of the general merits of advertising are given below: 

• Steady demand: Advertising helps to maintain steady and regular demand for the product or service of a concern. 
• Increase in Sales: Constant advertising helps to increase the sales volume for both producers and traders. 
• Economies of production: Advertising leads to creation of more demand which in turn leads to large scale production and thereby reducing cost per unit of the product or service. 
• Convenience: Advertising helps the consumer in making their purchases more convenient and comfortable, as their time and efforts are reduced in shopping. 
• Education of consumers: Advertising educates the consumers by giving them details about the new products that can satisfy their needs. 
• Better Standard of Living: Advertising helps the people to improve their living standards by persuading them to purchase newer and better quality products.
• Employment: Advertising creates more employment opportunities directly in the advertising industry as well as indirectly in other industries.

Some of the limitations of advertising are:

• Less effective: It is less effective medium of promotion as there is no face to face interaction between the seller and customer. 
• Lack of feedback: It is difficult to ascertain the effectiveness of advertising, as there is no immediate feedback from the customers to the producer or seller. 
• Rigid: Advertisement copy once prepared cannot be changed easily to suit each individual. It gives only a general appeal. 
• Confusion among customers: Too many advertisements on a similar type of product, making similar claims may result in confusion among customers in choosing the right product. 
• Additional cost: Advertising expenses are included in the total cost of the product which increases the cost of the product that is recovered from the customers.
• Misleading: Customers are cheated by misleading advertisements. Claims made in advertisements seem to be untrue when the product is purchased and put to use practically.