Current issues in advertising (Marketing communications) Essay

Current issues in advertising (Marketing communications) - Essay Example arketing few of which include the statistical techniques that need to be properly fitted in to the equation, the usage of proper rules and methodologies for selecting the right target audiences, the manner in which they are segregated on the basis of their roles and positions in the society and not to forget the buying patterns of them as well, their decision making abilities in the market, the manner in which economical changes are shaping up the whole society and the drifts that are happening as a result, the changing consumer lifestyles with the advent of technological options and grouping all of these in a single database or a combination of databases which would make the work of the marketing communication practitioner easy. Rather the other way around has been seen, where the practitioner has been running from one end to another in the wake of devising the best possible database which will target the right people at the right time with the right offering. It is a difficult prop osition that has to be managed day in day out by the marketing communication practitioner but one that needs to be in place so as to enable growth on the part of the company and the link that is present between the business (company) and the customers that are being targeted upon by it. Database marketing is one of the most powerful tools that look at building a strong rapport between the company and its stakeholders, not only the customers but also the ones who have invested in its stocks, though in an indirect manner. The challenges thus faced account to problems ranging from handling all these records and files on not only a sequential basis but also that correlates with each other and thus comes up with results which precisely target the exact individuals (prospective or otherwise, customer) that have to be sent the newsletters, direct mail, brochures and so on and so forth. This also means that database marketing looks at revolving the glitches that may arise at some point in time

How Important is it for managers today to have a good understanding of Essay

How Important is it for managers today to have a good understanding of the process of globalization - Essay Example (Steger, 2003: p. 37) With regards to the large supply of available work force in the labour market, medium- and large-scale businesses are taking advantage of hiring competitive employees. Likewise, it is also crucial for businesses today to actively participate in the trading of goods and services in the world market. As part of discussing the valid reasons that makes it important for modern managers today to have a good understanding of the process of globalization, a literature review will be conducted in the study. To give the readers a better understanding of the subject matter, the first part of the literature review will discuss about the general information and the main purpose of globalization followed by analyzing the factors that makes it important for modern managers to have a good understanding of the globalization process. To determine how well modern managers understand the globalization process, a structured personal interview with two selected managers combined with a Globalization is â€Å"a process of interaction and integration among people, companies, and governments of different countries which is driven by international trade and investment through the use of information technology.† (The Levin Institute, 2008) Basically, the concept of globalization allows business people to maximize their available financial resources by taking advantage of the low-cost products and services that are readily available from developing countries. Because of the differences in monetary exchange rate, large-scale businesses from developed countries are able to purchase more homogenous products and highly competitive human resources at a much lesser price. Therefore, large multinational companies could easily compete with small-scale local businesses by being able to offer homogenous products to its target