Which of the various media that available nowadays is the most successful in your opinion for advertising and why ?

Cyber advertising is effective and reasonable in costs.

The answer to this question depends on3 key factors:

1) The industry

2) B2B or B2C

3) Current state of society

Paid media channels like TV/Radio/Press are heavily swayed by current affairs and rates fluctuate rapidly.

With that said, I believe that digital media (with a focus on social media), along with the traditional art of guerilla marketing (e.g. Flash mobs) are the most effective formats of the the2 mediums for advertising.

While I do say that, I realize for B2B social media needs to be combined with tangible marketing tactics and Flash mobs can take long due to permits, Still both yield great results at controlled budgets.

It depends on the target audience and the product you are trying to sell. Another factor which is important is the cost or the budget of your advertisement spend.Lets look at the different advt media TV each ad last for10-20 sec and cost a huge sum if it needs to be advt during peak time. Newspaper ad's are location specific and their life is only for the day as the following day the same newspaper is in the trash can.Today most of the advertisement happen in the digital media world as the target audience is global and not restricted to a country or place also with limited budget you can reach out to specific set of people based on gender, location, age, etc... which is not possible in any other media which is currently existing, in short is is target advertisement and reaching to people who would be using your product only.

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This ? is not having any generalized answer in my opinion . Its product specific & industry specific then .