Color conveys both overt and subconscious messages to people who view advertisements. The developers of Color Wheel Pro software list these ideas of what different colors may mean to your audience.

Red
Red is associated with elements like fire and blood, so it conveys a message of vigor, energy and passion. Red serves to bring both images and text to the foreground of an advertisement. As an accent color, it is often used to stimulate people to make quick decisions.
Yellow
Yellow is the color we most often associate with happiness. Yellow communicates joy, intellect and cheer. Use yellow to promote children’s products or items that are used in leisure activities. Also, use yellow to highlight key areas of a design. Avoid yellow for luxury products or for brand messages of stability and safety. If you use light yellow, then use a dark color to highlight it.
Blue
Blue, as the color of the sea and the sky, signifies truth, faith, trust and confidence. Blue suppresses appetite, so it should be avoided when promoting food products. Instead, use blue to grant products a feeling of trust. Think of a symbol like the police logo that conveys trust, and how a social network like Facebook used this color to represent trust. Combine blue with a warm color like yellow or orange for effect.
Orange
Orange combines the energy and vigor of red with the happiness communicated by yellow. Use orange to communicate messages about creativity, determination and success. Because orange stimulates the appetite, it is extremely useful for promoting food products. Many toy manufacturers also use orange in their promotions.
Green
Green conjures up feelings of safety and is commonly associated with wealth and nature. Green can be used for promoting environmentally-friendly products. Also, its message of safety makes green a good color for medical and drug products. A darker shade of green is often used in financial sector advertising.
Purple
Combining the stability of blue with the vigor of red creates the power and ambition communicated by purple. Purple is often associated with royalty and magic. Many children under 12 list purple as their color preference, so use purple when advertising products for children. Feminine designs often incorporate light shades of purple.
White
When people see white, they think of purity, cleanliness and light. Many hospitals use white for self-promotion as do many manufacturers of medical products. White can also denote simplicity when used in an advertisement for electronics or technology.
Black
Black can denote mystery, formality and elegance. Black or gray in a background makes colors stand out but can diminish the readability of text. When using black, be sure to incorporate other bright colors like red or orange for an assertive color scheme.
Color Schemes
Monochromatic schemes use different shades of one color. Analogous schemes use colors adjacent to one another on the color wheel, while complementary color schemes use colors opposite one another on the color wheel. Monochromatic and analogous color combinations tend to soothe while complementary colors create a strong contrast. Always consider the power of color and color combinations when designing your promotional materials.