The Changing Nature of Global Economy
and the Need for Strategic Communication
Business today has become a very big venture and the need for expansion into the global economy is deemed necessary for large company growth. Business’s entering into the global market will need strong communications in order to survive a global economy. The concept of strategic communications will allow a company to expand worldwide with the competency that the correct message is being portrayed. The concept of strategic communications involves understanding the meaning of the strategic communications, the different levels of communications, and the advantages of utilizing strategic communications.
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When a consumer needs a product they may look through periodical adds, company catalogs, television/radio adds, or online. Once the consumer finds the product he/she usually ends up buying that product. This communication strategy benefits a company because it is very low cost. Unfortunately as in most cases “you get what you pay for” and the short falls of this strategy is there are no direct customer influence and little to no customer retention.
In level 2, the producer of a product puts forth a little more effort into drawing a customer to their product. Instead of hoping the customer will find the company, the company puts out radio ads, TV advertisements, and media print. Once a consumer thinks of a product he/she needs, they will think about that funny company jingle or maybe even an article they had read. This type of communication is beneficial because you are influencing the buying decision and creating a competitive advantage. The short falls in this system include more spending on advertisement, little to no control over outside influences to the customer, and finally a weak customer retention rate.
Level 3 of the strategic communication process is the top tier of advanced communications. This process totally encapsulates the...