Business across the globe - Essay Example

In the contemporary environment of recession and high competition, the businesses across the globe are increasingly adopting alternative media as one of the key components in their market strategy. Promotional techniques are important part of popularizing goods and services. Thus, advertisements through myriad media have become critical factors for creating awareness about the products. In the current times, the firms are using innovative approach to advertise their merchandize as it provides them with greater leverage to reach larger customer segment.

While sponsorship of events have become hugely attractive, other media channels, especially unconventional mode of publicity like use of public transport, street plays etc are being used on a regular basis by the firms. The exemplary example of British Airways is a case in point which has used underground tubes and local trains. The soft music that plays in the trains and underground tubes is sponsored by the British Airways. In America, the train tickets and bus tickets are used by different companies as advertisement platform.

These types of new channels are not only cost effective but they are also able to create awareness about the company and its products across huge database of prospective customers. The wide scope of alternative media has therefore, huge potential to penetrate and create a credible and long term market position for the goods and services of the firms. Indeed, the sluggish economy has greatly encouraged creativity and new way of thinking within the traditional market paradigms. (words: 243)