On the one hand advertising is often considered as a tool that is used to change established values within a capitalist society, and is influential to our change of perception of what we need and want. However, this isn't a short term effect that's specific to one product alone, but is something that is spread across all products and is used to modify us over time. So it may even be the case that we aren't aware that we are being manipulated into changing our views and perceptions of certain things, because of how slow the modification to our views is. For instance, as a society today we believe that we NEED a laptop, a mobile phone, make-up, etc. But the reality is that these are things we want and desire, but are made to believe we need them because of advertising.
Advertising also uses cultural stereotypes, treating people in the stereotypical way of their gender and being really sexist about it. In all honesty, I'm not sure why the advertising industry does this and it makes no sense to me why it works either, as I feel that it would be taken rather offensively. But that doesn't appear to be the case at all, as it's proven to be quite a successful method in the past. However, I don't see many adverts like the one on the left in today's society, but more adverts like the one on the right, informing society that we don't have to conform to stereotypes of our gender and that we shouldn't be discriminated or exploited because of our gender.

However, sex appears to be a large factor in advertising, as it seems to sell. There is a large number of advertisements that depict some form of nudity or have sexual references in them, which would suggest that society is attracted to this form advertising thus encouraging us to buy. Yet again, I'm unsure as to why this works exactly, but I get the sense that within most of these advertisements the models appear to be desirable in some shape or form, which could play a big part in why it works so well; "the models are desirable because of the product they are advertising, so it'll work for me", is what I feel this method makes people think. I could be completely wrong though.
Despite the fact that advertising can be quite negative it can also be used as a very effective tool for driving global economies. Without advertising we wouldn't be aware of products that are available to us and business such as Coca-Cola wouldn't be as successful as they are. Advertising also drives creativity, which helped to create revolutionaries and persuasive communication. Not only that but advertising is a very powerful form of art that inspires and informs a society.
Overall, I feel that advertising is a very useful tool when used effectively and properly and is a very powerful art form.