Advertising in Today's Global Economy

By Stanley Rubenti
Career Colleges Columnist

American advertising students have had it pretty easy up until now. Since US consumers represent a substantial portion of the global market, advertising has only had to focus on the needs of a relatively small and isolated population. But news from the financial world signals a growing trend in global consumer spending. Last year (2006), China attracted a record-breaking $63 billion in FDI (foreign direct investments). China's rapidly growing middle class might eventually eclipse the 300 million Americans who have helped dictate the needs and wants of the advertising industry thus far.

What Does This News Mean for You and Other Advertising Students?

Although America is still one of the strongest and most consumer-driving economies in the world, it's important that your advertising education doesn't ignore the 6 billion other consumers in the world. Countries like India, China, Korea, and Japan are just as hungry for new gadgets, convenient services, high-speed entertainment, and luxury items. And as you’ll probably soon discover (one way or another), advertising to these different markets requires a slightly different set of skills and tools. This is especially true if you ever pursue online advertising and direct Internet marketing. Find an advertising degree program that prepares you to succeed in a truly global market.

Online Advertising in a Global Marketplace

Online advertising is a branch of marketing that brings its own headaches and woes. To top it off, many consumers out there don't shop in English. While words like sale, free, discounted, and liquidate might prompt most Americans to pull out their wallets, Chinese or Korean consumers are probably more comfortable with words written in their native languages. And banner ads or Web copy that makes use of strong blues or yellows in one country might not be as effective in regions of the world where reds and greens are more enticing. In other words, online advertising can be a cost-effective way of getting the word out, but only if you fully understand the market(s) that you're serving.

Expanding Your Advertising Education

Traditional coursework that focuses on consumer psychology, online advertising, and strong Web copy are all extremely important in today's flattened world, but it pays to research advertising degree programs that can also provide you with a firm grounding in international relations, cultural sensitivity, foreign languages, and related issues. The more versatile your education, the more versatile you will be as an advertising professional.

Source:
Reuters

About the Author
A freelance writer, Stanley Rubenti currently lives in Bangkok where he writes columns for a variety of publications. Stanley holds a B.A. in history.

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