Competitive Comparison of Advertising Channels under Influence of External Economic Factors

Abstract

External economic factors have a significant impact on the competitiveness of the companies. The Russian advertising market, which has gone through several periods of crisis and has not fully reached the stage of equilibrium, is becoming one of the most affected industries in the modern history of Russia. The purpose of the study is to analyze the advertising market in Russia in the context of the dynamics of competitiveness and forecast its development in 2022. The authors of the article provide an analysis of the main steps of the marketing strategy of companies in a competitive market, such as situational analysis, work with market dynamics and segment selection, including Porter’s main factors of competition, planning, organization and budgeting, marketing plan implementation and evaluation of its effectiveness, with a focus on the marketing communications tools that are most in demand on the Russian market, as well as analyze the situation of the spring of 2022, the impact of events on the competitive situation in the advertising market and present their forecast for its recovery and development. As part of this work, the authors conducted a small field study among representatives of manufacturing companies and advertising agencies to identify the actual changes in the advertising market. The main hypothesis of the authors: the suspension of marketing activities by 50 percent or more, was largely confirmed, under the influence of several global companies quitting the Russian market or the decision of brands to suspend activities in Russia until the situation stabilizes.