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Page 4 News The Clarion \ Sept. 12, 2008 Understanding the marketing jungle By Radosav 'Backo' Babic Business Editor Living in the 21"‘ century, a very materialistically driven global society, it almost seems like it is impossible to get away from advertisement of any kind. All types of media (TV and radio commercials, newspapers ads, online advertisement, billboards, etc.) seem to be around us 24/7. Trying to escape from the world of entertaiimient seems entirely absurd any more. The biggest reason for this is a “small” segment of economics, called marketing. Advertising products or services was quite simple and easy years ago. The companies would simply create 15-30 second long videos, which would let the customers know that there is a new product available. There used to be a small number of advertisers who would work on it. However, as the competition got bigger, people of different professions, such as psychologists for instance, became the members of the advertising groups. Each company wanted to promote their product in the most unique way; they believed and wanted their customers to believe that there was something unique about their merchandise. More importantly, professionals realized that the market research is another very important segment IWIL formally introduced at press conference Photo by M. Newton Brevard College's Institute for Women In Leadership was Introduced on Monday with a oress conference at the Porter Center The orogram Is In Its first year at Brevard College and alms to provide a service-based, co- resldentlal environment for members to grow 'nto community leaders. of the whole process. Therefore, they could often spend countless number of hours trying to figure out what makes one product more appeahng than the other, very similar, one. They strive to know how their customers feel while consuming the product. Today, as the marketing has advanced even a step further, corporations are trying to create a sense of belonging to a certain group in their customers. Apple is one of the leading companies who did so. Each owner the Apple product, whether that’s an iPod, iBook, iPhone, or any other merchandise, feels like a member of a club, as many marketing researchers would argue. It is that special sense of belonging to that specific group which is another strong reason which would “force” them into purchasing a product. Therefore, marketing is turning into a social science and is becoming one of the most important segments of each company and economics. It is also becoming on of the most popular divisions of economics. Professionals, who are responsible for finding out what people need or want, promoting it in a way so that customers “have to have it,” and creating that culture, certainly cannot complain about their paychecks. Advertising and Finance have the highest based salaries within US companies. The statistic, according to the “Global Report,” shows that the marketing directors earn $261,200 per year, while financial directors earn even more, at $324,600. The same report states that the human resource directors earn only $219,000 per year, which may seem a bit contradictory. (Mercer Consulting) Similar to that, the TV stations are constantly increasing the charge for commercials during the most popular events. It is well known that CBS charged $2.6 million for a 30 second spot during the most popular sport event of the year in US - Super Bowl (CNN Money). Many may wonder whether it is worth it paying that much money for a 30 second commercial, however, if there are more than 90 milhon people watching it, paying for it would most likely be a good investment. Even though there has been a drastic increase in salaries for marketing based persoimel within companies over the years, their effectiveness and efficiency had never been better either. The advertisements beheve that an individual can feel the World in five tenses, therefore they strive that they customers feel the products through all five senses, as well. As an employer, what else you could ask for? Comic by Dabney Farmer 1 1 . H if 1,0. T ifi e t “'! I irlii^r titbit .f 4, 1, i —•
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