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marketing in focus the global financial crisis
Pages 8 (2008 words)
Running Head: Marketing in Global Financial Crisis Marketing in Global Financial Crisis [Writer’s Name] [Institute’s Name] Marketing in Global Financial Crisis Introduction The existing global financial crisis gives both major challenges as well as opportunities for businesses.
There is a stress on uncomplicated, understandable marketing communication. During a crisis, people go back to brands they identify and trust - and trust will be a most important topic in addition to value for money. Funds for marketing are decreased and businesses will try to find more cost-effective methods to get in touch with their target customers. There is less indirect marketing; for instance, funding of costly sporting occasions along with other things where the direct sales advantage is not easy to observe (Munchau, p. 102, 2009). There will be more relocation of marketing from conventional print and broadcast media towards online advertising, where advertisers are able to assess immediate profits from little investments, which they can subsequently expand if they work fine. An exception is probably be radio marketing that is comparatively inexpensive and can be extremely successful in targeting particular groups. Strategies for Brands to Regain their Unique Value Proposition The long-term business outlooks for the global brands are positive, but in reaction to the alterations in front, businesses have to make several strategic options to adjust their models to the new realities. Global brands, with development objectives, need to commit to rising markets, where having a complete multi-shoring value proposition will be important for achievement. ...
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