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Hi Vinod,
Good evening. In my opinion, ad fatigue means when the ad reaches to its maturity level. Yes, audience get bored with such ads. Since, continuous hammering of the ad is required to obsess customers mind. If ad is prudently produce then it will never reach its maturity level. For example, Mahendra's ad "We live young......We are the living". They push this ad after certain interval, but if the same ad audience will see then they will get fatigue and finally the purpose of the ad will not be achieved.