Marketing Strategies in a 21st Century Recession
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Authors
Sidor, Monica J.
Issue Date
2010
Type
Thesis
Language
en_US
Keywords
Alternative Title
Abstract
During past recessions, it was suggested that a firm should reduce the budget
of every department with the exception of marketing and advertising. In today's
world that is ruled by blogs and social networking sites, this no longer seems to be
the case. In the current economic recession, with the advancements of online
advertising methods and performance tracking abilities, it is possible for a firm to
significantly reduce the marketing and advertising budget without sacrificing brand
presence. A firm is able to purchase cost effective marketing that will successfully
communicate their marketing message to the masses without breaking the bank.
Similarly, it is possible for them to pay next to nothing and allow the viral network
of social networking to do the grunt work of spreading the message. By examining
these new advancements in technology, it becomes obvious why the Internet has
drastically altered the way that marketers and advertisers view a recession and deal
with its repercussions.
The current economic climate has forced most firms to cut budgets in every
aspect of the business unit including marketing and advertising. However, while the
development of the Internet and online advertising has allowed firms to remain
highly active in advertising and marketing without breaking the bank. Those firms
who do not follow the current trend shift from print to online advertising will have
difficulty keeping up with competitors and maintaining a strong presence in the
market.
Description
iv, 25 p.
Citation
Publisher
License
U.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.