USA HISTORY

Detailed explanation-1: -Advertising became as big an industry as the manufactured goods that advertisers represented, and many families relied on new forms of credit to increase their consumption levels as they strived for a new American standard of living.

Detailed explanation-2: -By the end of the 1920s, an increasingly sophisticated advertising industry had integrated new techniques in retail, credit, sales management, and consumer research into the marketing process. Marketing efforts accelerated to match businesses’ rapid introduction of new products and services to satisfy consumer markets.

Detailed explanation-3: -The 1920s was a decade of increasing conveniences for the middle class. New products made household chores easier and led to more leisure time. Products previously too expensive became affordable. New forms of financing allowed every family to spend beyond their current means.

Detailed explanation-4: -Installment credit soared during the 1920s. Banks offered the country’s first home mortgages. Manufacturers of everything–from cars to irons–allowed consumers to pay “on time.” About 60 percent of all furniture and 75 percent of all radios were purchased on installment plans.