I do not think advertising targeting children have negative social consequences. Most of the advertisements are just related to toys or other innocent things and do not cause any social consequences. Other advertisements can damage people but the ones created strictly for children do not cause any psychological harm at all.
Advertising agencies and large corporations are both driven by one primary objective, to raise the level of business profits as high as they can, regardless of the consequences. Greed and a self-serving nature are the two primary motivating factors behind commercial advertising. Big business will try and assert differently, but the evidence is overwhelming. If the profit margin is high, most business execs could care less about the consequences on society. This factors directly into the thinking when targeting children in advertising campaigns and commercials. Business knows all to well that children are vulnerable, and can easily be manipulated with target ads. Trying to push the sales quotas higher and higher while using the trusting nature of children to accomplish this goal is unconscionable and should generate harsh penalties. Teaching our youths at a young age that gluttony and greed are acceptable will begin to show a harsh reality on the sensibilities of our future generations.