Being in the industry by passion and working for the industry by choice. I have seen a lot of action in the outdoor fraternity. Many new companies joint the party with lot of pledge to make outdoor media as a well structured media. Some of them are still unorganized in their business manner.
As fund crunch has wipe up campaigns from outdoor media. Some big company which had entered in this unorganized business in last year is anguish heavy blister, as they can’t recover their money. All of us had seen that consumers lose confidence in the growth of the economy and tighten its pocket. Because this recession has killed the entire market.
Sources from Print and broadcasting media has confirm that market will respond in a falling trend that result in to decrease demand for goods and services, which in turn leads to a decrease in production, lay-offs and a sharp rise in unemployment . Most of the companies have reduced their advertising budgets by almost 35-40 per cent. Even the cricketing sports like the IPL & Twenty20 World Cricket perhaps dig up the media budget from well known company.
Significantly the situation is more pathetic in tier II and tier III cities. Apparently OOH media owners who will hold on to their nerves will survive; the rest will either shut shop or sell out. Is it a real recession? I personally outcry the word “RECESSION” it a “DEFLATION”
Companies have to raise the market promotional budget to get noticed in the market place or the Brand will perish. Deflations have offered a better chance to negotiate the best rate and media for a longer run. Since the supply of OOH billboards and other format is very high. Our past economy has made us habituate to spend more and earn more. This era seems to be a golden opportunity for the Brand to connect with the masses and occupy the space in daily life.
Let me put up an example for some of the brands perhaps history like “MURPHY RADIO” “OK SOAP” & “NITEXT UNDERGARMENT”
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