Just an addendum here: You suggest that advertising and marketing are interchangeable, but I would suggest that advertising is one leg of a multi-legged table that includes PR, advertising, events (trade shows, rodeos, racing), online/digital, mass media (TV/radio), print (newspapers/magazines), billboards, branded clothing, etc.
A number of years Florida attempted to tax advertising as a way to curtail it somewhat (perhaps) or profit from it. This proved impossible, however. Could Florida charge a national TV commercial 5% of the cost of the 1/50th that aired in Florida? How much do we tax playing cards with Coca-Cola logos on them?
You’re correct that a big problem that makes advertising so annoying is that it is frequently so intrusive. I seldom watch television, but on those infrequent times I do it startles me how much longer those “commercial breaks” are which support the “free” content. I have no idea how viewers put up with it.
The second problem is that in our post-modern era people are increasingly aware of the philosophical issue of consumerism. More consumers means more revenue (wealth creation) but often includes resource depletion and exploitation.
The word frenemies seems appropriate though. Advertising has helped us find things that we wanted, even if it also helps us want things we do not need. But then, isn’t it the consumer’s responsibility here? The existence of bars does not turn everyone into alcoholics. How far do we go to “protect” people from themselves?