MARKETING COMMUNICATION

Marketing Communication

[Name of Student]

Marketing Communication

Political Factors

Political factors play a crucial role in the rapid development of countries including the United Kingdom. Resource endowments, labor inputs, technology, and investment capital, could similarly drive the development of countries. In fact, the most rapid path to economic development was rapid integration into the global political economy.

Economic Factors

Each economy has a long-run growth rate that is dependent on its economic structure and a range of socioeconomic and technological factors. In a dynamic economy, as these factors change—for example, through technological advancements—the growth in the long run, will change. Economic growth may rise in the short run and fall in the long run. If the growth rate falls in the short run, the economy is in a slowdown that may lead to a recession. When the short-run growth rate is rising, the economy is in an expansion (Diebold & Rudebusch, 1989 p.369). These are the phases of the business cycle. A business cycle consists of an expansion and a contraction that follow each other separated by a peak and a trough. A peak, the high point of a cycle, is the beginning of a downturn, and a trough, the low point of a cycle, is the beginning of an expansion. An expansion may contain one or more downturns and slowdowns. Not all the slowdowns and downturns end up in a recession, and predicting if and when a recession will occur is difficult.

Technological Factors

Technological improvements can overpower markets and open a complete production chain to improved consumer networks. However, it is not easy to discover the expected technological trends of a successful niche or recognize its primary needs. Often, more than achieving technological development itself, the question resides in planning and implementing the structuring of a completely new socio-technical network, such as in the personal computer industry (Elliott, 2006, pp.121). To that effect, the dilemma of technological companies is to select or maintain a thin balance between sustaining historical profit margins with already established products, or to invest in potentially innovative products with a reduced initial profit margin.

Building the brand

Here, are the essential bases for building a brand. Definition, positioning, supply strategy: a brand is to work upstream, long before it is translated into an image, a logo, a message (Hamilton, 1989, pp.357).

Innovative and Differentiating

The origin of a brand based mostly on two main scenarios. Either the product or service is truly innovative: in this case, the brand will be a meaningful concept to meet different consumer needs. Either the product or service is an evolution in the other case; the brand will be a differentiating concept, particularly stand out from the competition (Lahiri & Moore, 1991, pp.156). The starting point determines alone the construction of the brand. An innovative product may request a position very educational. In contrast, an evolutionary product may require risk taking, communication lagged.

Define its Real Targets

Another important factor in building a brand is the targets which will first go your offer. This is clearly identifying prospective customers: geography, professional sectors, age, ...