written by owen on 2004-Nov-16.
As Jamaica gets bombarded by an ever increasing array of American products, services, and culture, many Jamaicans are taking their business overseas or rely more on foreign services to meet their needs. Needs which can be supplied by qualified local companies. It is in this respect that local businesses need to become more aware of the loss of revenue which is caused by this epidemic.
It is no surprise that money transfer or remittance services has become a major source of foreign exchange in Jamaica, but the question is: Are they spending all that money on Jamaica? or are they spending it on Britney Spears CDs? Many might argue that Jamaican businesses are more prosperous than ever, but are these companies really Jamaican or are they subsidiaries of foreign owned companies?
A wise man once said, "The person who saves money by not advertising is like the man who stops the clock to save time." source
Advertising for Small Businesses lists 9 major types of advertising;
Radio, Newspaper, Magazine, Television, Cable, Yellow Pages, Outdoor, Direct Mail, Specialty Advertising (Give Aways) source
Advertising is a crucial part of developing our local businesses. Local businesses need to do a better job of informing potential buyers about local business opportunities through effective advertising.
If Jamaican business and individuals are ever to reach their true potential they have to invest the time and energy get themselves known to local consumers - there is no such thing as being too popular.
Advertising is a investment in a business's future. It is often costly, so it is best to find out as much as you can before investing in advertisement.
Local businesses and individuals should look at all of the media communications available to them and then make the decisions that will give the best return on investment for the long and short term - develop an awareness of the problem and determine if advertising is a way of solving it.