Bìznes Inform (Oct 2020)
Changes in the Advertising Industry in the Context of the Global Lockdown-2020: Economic and Social Issues
Abstract
The article is aimed at highlighting major changes in advertising and marketing at the international level as a result of the coronavirus pandemic and the resulted global economic crisis. When carrying out a detailed analysis of scientific articles, the main trends were identified, according to which the modern advertising industry in the world will continue to change, and a vision of possible ways to further develop the situation in the context of the international crisis in the economy has been formed. The key indicators of the economic crisis have been defined and their impact on the decisions of advertising agencies on the choice of means, channels and content of advertising campaigns is highlighted. A new direction has been formed in which advertising agencies implement and promote their own campaigns. The relevance of on-line advertising during the lockdown period is substantiated, namely, advertising on social networks, video resources and streaming platforms; advertising embedded in online games, etc. Benefits of broadcasting advertising through on-line channels compared to traditional advertising methods are allocated and substantiated. Prospect of this direction of research is to determine the most effective methods and topics of on-line advertising in order to reach a new audience and increase the customer base of advertising agencies. For in today’s world information technology occupies the position of the most actual way to move business forward in any sphere, a significant share of investments are made in new ad formats, payment models and technology solutions that meet or surpass global industry standards. Further development of the sphere of digital advertising can lead to even more displacement of the off-line methods of advertising from the market: because the end consumers no longer use a PC in order to go on-line, but more often browse the Internet resources from their portable devices.
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