An Impending Paradigm Shift in Advertising
Chapter 8: Moving Forward
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Advertising in Crisis
Advertising is in a state of crisis. History, theory, and context affirm its presence. Collective productivity within the discipline has ground to a halt. Stagnant earnings, increased costs, disintegrating relationships, futile strategies, fragmentation, panic, and massive layoffs characterize much of the industry. Analysts have predicted more downsizing and restructuring, leaving many advertising agencies to contemplate their future amid major cutbacks. Echoing the downsizing trend, multinational conglomerates such as Unilever and Procter & Gamble have announced massive job layoffs. Moreover, major brands, including Coke, Pepsi, and Avon, have reported impending advertising reductions (Neff, 2013).
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