The marketing industry has large players but is also changing rapidly.
The marketing industry is dominated by a number of large global firms with various divisions and agencies. These firms incorporate PR, advertising and other services into their offerings. However, technology is starting to alter the landscape as new firms are entering the fray. In addition, innovative communication methods are changing how marketing is done.
Major Firms
Major firms in the U.S. include Clear Channel Communications and Lamar Advertising. Firms such as these help shape the advertising and marketing industry by providing platforms such as billboards, radio, television and print for companies to place their ads. Other global firms such as WPP and Publicis provide marketing consulting services in conjunction with their advertising and PR practices. WPP, for example, has attempted to become a one-stop shop, with 140,000 employees as of 2010 in every major market on Earth.
Segmentation
Marketers generally work with different segments. Consumer marketers work with well-known consumer brands to promote their logo, brand and overall image. They seek to form an emotional connection with consumers for their clients. Business-to-business marketers seek to form a more practical relationship for their clients, attempting to form an aura of professionalism and skill for their clients. Their client base is much more narrow than that of consumer marketers.
Marketing Mediums
Marketing isn't simply about advertising but includes different methods to build and grow your brand. Marketers sponsor conferences, create strategies and build partnerships. They also help to place ads in the major mediums such as TV, radio and print. Recently, more Web-focused firms have emerged that focus on the rapidly growing areas of search engine marketing, or SEM; social marketing; user-generated promotions; and video marketing.
Technological Changes
The fast-growth segment in the first decade of the 2000s was search engine marketing. Google, Yahoo! and Microsoft all provided a compelling product that grew from virtually nothing in 2000 to almost $17 billion in 2010. Social media marketing has become another rapidly growing medium, as marketers seek to make their message viral and user generated. Companies such as Facebook, MySpace and LinkedIn are benefiting from the rapid growth in this new marketing strategy.
