The effectiveness of corporate media
Corporate media is a term that is used to refer to a system of mass media production, distribution ownership and funding which is dominated by corporations as well as their chief executive officers (CEOs). This term is in some instances used pejoratively to indicate a media system that does not bear the public’s interest at heart. Several media critics, including Ben Bagdikian and Herman, S. Edward made a suggestion that if the corporate media was allowed to dominate the mainstream media, adverse effects would be inevitable (Ann and Gower, 2009). They further argue that corporates are engaging in acquiring the main media houses to ensure they have a larger stake in them. This gives them an assurance that they can effectively filter out any information that doesn’t suit their corporate agenda.Corporate media encompasses innumerable matters.
Corporate media has been established to have a pivotal role in determining the impact that is made by the various social movements in the larger society (Shone and parry, 2004). Corporate media is a social movement of its self that social goals that it aims to achieve. Social movement determines the outcome of the public opinion, the elite and the authorities. Corporate media provides coverage and advocacy for issues that are not adequately catered for in the mainstream media (Andrew and Caren, 2010). It effectively tackles matter of economic importance better than the mainframe media does. Researchers suggest that corporate media presence is good because it improves customer engagement, stimulates revenue creation and it also builds loyalty. This finding can be solidly supported by a number of supporting points. The effectiveness of the corporate media will be elucidated below. The main point discussed include, the benefits and the effect of corporate media advertising and promotion on the consumer behavior, the media richness theory, the consolidation of media attention and the control of the socio-political environment.
Powerful corporations in the world are gaining a powerful influence upon mainstream media in many countries. Several multinational corporations have been establishing to even own and control major media outlets. The population of media outlets has been on the verge of increase in the recent past owing to the increased ease of entry due to the growth of democracy in the world. This vertical integration of corporate and mainstream media has amplified the available avenues for cross-selling as well as cross marketing products which translates into increased profits within the same period. Since the time immemorial and since the onset of mass media, corporates have naturally sought the services of such establishments to popularize their products to their target markets. Mass media advertising has its richness as it allows space for the sharing of innovative ideas to the prospective consumers, which has a direct impact on the sales made and hence the returns reaped (Aruguete, 2011). Media advertising has grown over the years due to the advancement of the advertising methods as well as techniques. Contemporary adverts have been developed to entice, shape as well as create consumerism and needs which have been non-existence in the past years. This has been facilitated by the invention of new technologies and advertising techniques.
Advertising has become an integral part of the business day to day life as they seek a competitive edge against their competitors in the market. Larger companies have the ability to channel huge sums of expenditure of advertising which is an important bit in the marketing of products and gaining a competitive advantage for a given product that is in the market. Advertisers also bear direct and indirect influences over the advertising media companies as well as the content in the advertisements with an aim of nurturing moods as well as the cultures which multiply the likelihood of consumers subscribing to the products being advertised. Therefore, multinational corporations having a stake in the media is an imperative factor that determines the overall sale as well as the product placement in the market.
The effect of corporate media advertising and promotion on the consumer behavior
Every business, regardless of its size needs to advertise as well as promote its products so as to arouse the interest of prospective consumers in the market. Advertising has a great impact on the way consumers perceive the market. Advertising promotes increased awareness of the available products from a given company or generally that are available in the product market (Bauman, 2011). New products in the market can only be made known to the masses through the various types of media ranging from print to visual media. A great percent of human beings use the media as a source of information. The thirst for information has increased in the recent past. The result was the invention of new technologies that have brought a revolution in the media scenes. Corporate control of the media facilitates this function of arousing the interest of the consumers in the market by creating awareness of the existence of a given product, as well as new entries that find their way into the market (Baagi, 2011). The mass media channels enable the corporations to target a large audience at a single time. This is effective as the message gets to millions of people unlike other methods of product promotion. This translates in augmented volumes of sale of a particular product that adapts a proper advertising model.
Advertising has been found out to offer the consumer base a chance to evaluate and analyses the various features of the products being advertised (Augustine, 1996). Large corporations have an upper hand in the market as their products are carefully crafted to meet the needs of their consumers. Research has established that consumers have a tendency of analyzing the products in the market before making a rightful choice on the kind of products or services to subscribe to. Consumers have a rational response to advertising when they look at the features and properties of the products and services. Advertising reduces the amount of effort that is required in analyzing the features and properties of the products as well as the services that are existent in the market. The response that is given by the prospective consumers is based on a logical listing that dwells on all the functional aspects of the given products. The response that is given is in most cases intellectually inclined and is rather not based on the emotions. Large corporations with their resources have the ability to craft and tailor their products to meet the specifications in the market. Large corporations have maintained a culture of studying the market needs before coming up with the product (Barbara, 2008). This gives them a comprehensive idea on the kind of products they are supposed to present to the market. Advertising comes in handy when it comes to presenting the desirable features to the different audience. Having viewed the products being presented in the various media avenues, consumers are able to make rational judgments and decisions on which products to subscribe to.
Corporate Media advertising is important as it facilitates the targeted audience to evaluate the benefits that accrue to them with the usage of a given line of product (Berger, Sorensen and Rasmussen, 2010). Weighing the benefits by the consumers emotionally attaches them to advertising. The consumers, through advertising are able to clear about the various uses of a given product, the advantages as well as weighing the prices of related products. Using corporate media advertising, companies can make known, the innumerable ways through which the given product can amplify the satisfaction of their target consumers. Product tailoring using data from the actual consumers gives companies an upper hand in the market as their products are able to meet the consumer needs. The identification of ways in which a product makes the consumer’s life better is irrational. The response that is elicited therefore can result into impulse buying by the consumers. Advertising is therefore essential in creating an emotional attachment between the products and the consumers. The prolonged existence of the product in the advertising scene and in the market ignites a sense of belonging to the consumers. This amplifies consumer loyalty. Consumer loyalty translates into increased sales volumes and hence more profits are gained by the companies.
Repeated advertising of a given product has been known to affect the consumer behavior. Constant repetition of a given advert in the media creates a lasting impression in the consumers. Constant advertising has been noted to ignite buyers’ interest in a particular product. The result of such is that the consumers are always prompt in remembering a certain product as they go out shopping. A constant reminder manipulates the consumer’s thinking and their decision making processes (Andrew and Caren, 2010). The creation of a lasting impression in the mind of a consumer can only be achieved through the constant presentation and the quality of the product. Corporations with their innumerable resources are able to make products that are of high quality with moderate prices. The only factor that remains is creating a lasting image in the mind of the consumer about the existence of that particular product. Corporate media advertising is also effective in the promotion of loyalty or alienation. Researchers have positively established that the consumer behavior is torn in between alienation and loyalty. These two, alienation and loyalty are determined by how well a given advertised product lives up to its advertised benefits (Bauman, 2011). The behavior of corporations, in this case, the corporate social responsibility, has also been established to have a great impact on the alienation as well as customer loyalty responses. Corporations are able to create appealing products that are the true copy of the advertised products. This hence promotes customer loyalty which increases and maintains the sales as well as the profits gained.
The media richness Theory
Media influence on consumer behavior is profound; this is evident going with the innumerable amounts of resources that are spent on advertising alone by corporates each year. Having a hand in the media itself offers corporates a great advantage in the marketing of their products and increases their sales volumes and revenues. The media richness theory is a framework that describes a given medium of communication by its capability to reproduce the information that is channeled to the audience through it. This theory was developed by two theorists Daft Richard and Lengel Robert. The theory states that all communication media vary in their ability to enable users to communicate and change their understanding (Bauman, 2011). The theory is basically applied in the ranking as well as evaluation of the richness of the various existing communication channels including mass media, phone. Corporate media has been established to outdo other media due to a number of reasons. Corporate media gives a wide coverage and hence the impact of the message sent through this channel is widespread. Corporate media has a high essence of complexity in its nature. The media richness theory states that the more ambiguous and uncertain a task is, the richer the format of media that suits it (Ann and Gower, 2009). Corporate media using its propagandist tools is effectively able to cater for the innumerable uncertainties as well as ambiguities that are involved in the product advertisement circles.
The media richness theory was primarily developed to enable media uses to effectively evaluate as well as describe the available communication mediums within firms. The theory is vital in enabling corporates cope with the communication challenges that face companies in their day to day activities. Corporate media is a form of communication channel that is meant to suit the needs of the company. Marketing is the ultimate activity of any corporation and even other businesses. It is therefore essential to establish proper channels that suit the marketing needs of corporations for effective marketing. The corporate media has effectively achieved its chief mission through the use of complex techniques. Multinationals have succeeded in dominating the media scenes by channeling innumerable resources to acquire or manipulate mass media (Baagi, 2011). This engagement has been a great advantage to the corporates as they are able to create a larger mark in the product market without using many channels.
Consolidation of media attention
Organizations have been faced with innumerable challenges in consolidating and strengthening the attention they are accorded by the media. Media attention is scarce and highly coveted in the modern world. Media visibility is highly advantageous to any organization that clinches it (Bauman, 2011). Media attention also has its paths or rather conduits which it flows through. This includes the communication channels such as telephone, internet, mass media and movement generated channels. Corporates have succeeded in arousing the media attention through their channeling of efforts to acquire a stake in the media. Corporates have worked around the clock to amplify their palisade in the media. Corporate media has succeeded in consolidating the required attention to the multinationals in the trading scenes. Media like any other institutions, has been established to receive its shaping from various sources which include, economic, social, political and cultural forces that influences the content that is presented to the audience (Aruguete, 20110. Having gained control over the various media, corporates have had a better opportunity in manipulating what appears in the media. This has facilitated more product advertising, and hence more avenues of creating awareness to the prospective consumers have been formulated. This means that corporates have achieved more in consolidation the media attention. This has translated on more sales and hence an increase in the sales volumes.
News as consumption and the control of the social-political environment
The marriage between fierce corporatization and consolidation of world media empires has spawned a hybrid form of journalism that inhabits space somewhere between news, entertainment and partisan propaganda (Berger, Sorensen and Rasmussen, 2010). Corporate media control has enabled multinationals to give public perceptions a sparkling new shape and hence set the political agenda. The political agenda has been established to have a deep rooted impact on the way business in the world is done. Corporates have succeeded in manipulating the political scenes to suit their interests. An uncertain political environment provides a difficult working condition and hence the sales and the revenues are adversely affected. Having a predictable socio-political environment is of great advantage to the economic scenes. The manipulation of the socio-political scenes, come at a cost whereby the corporates control the media (Augustine, 1996). With the media under their control, the socio-political environment is favorably controllable. The control ensures a favorable trading environment and hence the returns through sales are guaranteed.
Researchers suggest that corporate media presence is good because it improves customer engagement, stimulates revenue creation and it also builds loyalty. This finding is true owing to the various advantages that accrue to the corporates due to the important stake they hold in the media. The presence of corporate media has facilitated in the achievement of the innumerable advantages that are as a result of media advertising. This includes creation of awareness, evaluation of the features and benefits and the creation of customer loyalty. Corporate media ownership has facilitated easier consolidation of the media attention (Andrew and Caren, 20100. This means that corporates have an easier time in establishing themselves in the market through the media. Corporate media’s presence has also enabled the partial control of the socio-political scenes which have a stake in the economic situations. Therefore, the corporate media’s presence has changed the consumer engagement and has amplified the sales volumes as well as the profits attained.
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