HAS BRANDING LOST ITS RELEVANCE IN THIS ECONOMIC DOWNTURN?”

Has branding lost its relevance in this economic downturn?”

Table of Contents

Advertising & Its Relevance to Marketing3

Link Between Marketing, Advertising, Integrated Marketing Communications (IMC) And branding4

Advertising Agencies & the Current Economic Downturn7

Globalization & Its Affects and Effects On Ad Agencies10

Research Methodology16

Critical Review18

Critical Data analysis and Conclusion24

Possible future questions in regards to ads agencies positions on globalization28

References31

Has branding lost its relevance in this economic downturn?”

Advertising & Its Relevance to Marketing

Marketing is important to consumers to identify a need or want. Without marketing, consumers would not know where and how to fill those needs and wants. If there were no consumers, there would be no need for companies to development products or services. (Cavusgil, 2008, pp.479-506) Economic growth is the beneficiary of marketing. Companies develop products and market them to consumers who purchase them. (Harris, 2006, pp.154-68)

The money used to purchase those items is cycled back into the economy helping to stimulate growth. A healthy economy means more spending on products and services and the need for more marketing. (Agrawal, 2005, pp.26-49) Good Marketing needs Advertising and promotions to bring a service to the attention of potential and current customers. Advertising and promotions are successful by performing an advertising and promotions plan. The plan should include the objectives and the good strategies of the organization, and the results of the marketing analysis, including the positioning statement. There are many different ways to advertise a new product, For example business can advertise on TV, radio or in newspapers. We can see some people deal the new product to customers free in the street. It is good advertising to let the customers try a product before they buy it. (Proakis, 2007, pp. 135-138)

Good advertising makes for successful products and projects. The Internet advantage is great for businesses because anyone in the world at any time can look at the products on your website. They get them more quickly and more easily. The Internet is growing faster and faster in business. The Internet offers businesses time saving, lower costs, more benefits and a broader customer base. (Boddewyn, 2006, pp.69-75)

On the other hand, anything has advantages for some people and disadvantages for other people. (Shoham, 2006, pp.24-50)

For example, I want to buy a car. I saw advertising on TV for only a few minutes, and I couldn't get enough information about the car. But If I use the Internet, I can get a lot of important information about the car at any time. In this way a lot of people will use the Internet to buy anything and make order with the Internet. By that means many people will not use TV advertising to buy anything, the number of sales with TV will be reduced and a lot of advertising on TV will be out. In addition, all the ways to advertise will be affected and the Internet will be a disadvantage for them.

Link Between Marketing, Advertising, Integrated Marketing Communications (IMC) And branding

Integrated Marketing Communications (IMC) is defined as: ...