To answer your question… it works.
Why?
Well, I did a little bit of research and it works as well on women as it does on men, for completely different reasons. The best video I’ve ever seen on the subject of “objectification” of women was said from a women’s perspective.
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For men, I think Extra Credits probably covered it the best.
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Case in point, it works. By abusing it we are actually destroying ourselves as a global society. Honestly, there are other ways to advertise without having to objectify. Sex is and always will be an appealing thing because of the huge amount of taboo surrounding it. Even with access even more readily available, like the internet, it still is something so secretive. Yet, every human has to encounter sex either indirectly or directly. Given that it is so personal, nothing is more tempting to advertisers than to attack a spot where you feel most vulnerable.
I think that advertisers should have some dignity, but I also realize that most do anything just to hit their “bottom line”.
Edit: (Of course I’d get my 69th medal on this topic )