Are newspapers still an effective form of media to advertise a product?

Each and every advertising channel has its own power & reach based on the product/service and the target audience. Advertising agencies should conduct basic research & feasibility study in order to determine the recommended media mix to run a campaign with respect to allocated budget.

This is basically depends on, what product you are advertising for. Every product needs different medium to advertise. Always our motive is to tap the desired market rather than the desired product.  But yes, you cannot be dependent on newspaper fully.

This highly depends on the brand and the market's use reliance on traditional forms of media. Markets in countries with low internet penetration will depend more on traditional channels such as newspapers, TV and radio. In addition, if the brand's objective to reach as many consumers as possible it will rely on such channels. More luxury brands will tend to go through high scale, upmarket forms of communication, whether it be industry magazines, or targeted digital advertising in order to reach the niche it's aiming for.

it depends actually, and varies from situation to situation. in some cases may the newspaper add may not work effectively but in some cases it may give results. so no final argument can be passed.

Not to a Great Extent. This is Modern Era So Majority of People like to Use and To Check Through Internet. 

That depends on the newspaper, brand, message... no single answer to that question.

Certain industries and objective and copy of the advertisement/campaign decides whether newpaper/daily is absolutely imperative to run the campaign. When the message is long and target audience has to be educated one can not do without a mass base print medium like newspaper.

Newspapers no longer break the news, but they are still the only constant, dependable, verifiable medium of your daily dose of news, views, sports, politics, health, entertainment, advertisements and all. Plus the high amount of regional, linguistic customization that is possible in a newspaper is unparalled. You can also cut and keep a copy for proof and authentication, fold and take it to toilet or read it under the sun , and then there is the touch feel of the paper..there are a host of other benefits and pluses .. all these for less than 1-2 dirhams daily.. no TV, no Internet can beat all this at this cost. I think Newspapers will keep evolving, but never go out of fashion or relevance..

As the name goes by News Papers have news value they work in a communication which requires news value. New Launches , PR and Credibility building communications works well through News papers.

we can still depend on Newspapers to target some people who used to read them on daily base, so it depends on our product and targeted market, while I believe that newspaper will get disappear with its familiar form within the coming 10 years maximum.