Attracting and retaining customers in a competitive market

Purpose – The feature's aim is to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies Design/methodology/approach – This review is prepared by an independent writer who provides context and commentary. Findings – Today's consumer culture is the most competitive the world has ever seen, with retailers battling for an increasing share of the customer dollar in what has largely become a global market place. The current economic climate also has global repercussions with financial constraints affecting both retail investment and consumer spending across a range of industries. So, how can companies use their marketing budgets most effectively? Is there anything new to learn in the world of advertising? The answer to the second question is, perhaps, surprisingly, yes, and by using new knowledge, firms can significantly improve their marketing strategies. Practical implications – The review provides strategic insights and practical thinking that have influenced some of the world's leading organizations Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.