Advertising at the Crossroads

The way we do business had, until very recently, remained largely static for over two centuries: large outputs, small profits per units, manufacturing efficiency and oligopolistic competition. Supporting the system was print and broadcast advertising. But in the last couple of decades, the world has seen a dramatic shift. Many advertised goods and services now tend to be high-involvement, and there is a shift to looking for fewer sales and more profit per unit as the ideal. Adding the greatest amount of flux to this model are social and digital media.In short: advertising is at a crossroads.