Tech stocks look strong, but here’s a sign the sector is actually under a lot of stress

Contrary to what Wall Street is saying, another advertising and marketing agency confirmed that the technology sector appears to be having a lot of trouble when it comes to discretionary spending on advertising and marketing.

Shares of Interpublic Group of Companies Inc.
plunged 13.3% to close at $32.87 on Friday, enough to lead the S&P 500 index’s
losers, after the company missed second-quarter revenue expectations and cut its full-year growth outlook in half, citing weakness in the technology sector. The stock suffered the biggest one-day selloff since it tumbled 15.3% on March 12, 2020.

That comes just two days after fellow ad agency Omnicom Group Inc.’s stock
tumbled 10.4% to pace the S&P 500’s decliners, after also missing on revenue and providing a somewhat downbeat outlook, amid a “pause” in tech-sector spending as clients have become “more cautious.”

And the companies also said they saw softness from tech-sector clients in their first-quarter reports.

That might seem counterintuitive to investors, given that the technology sector has been the S&P 500’s strongest this year. The Technology Select Sector SPDR exchange-traded fund
has soared 41.5% year to date, while the S&P 500 index
has advanced 18.2%.

Interpublic Chief Executive Philippe Krakowsky said Friday on a post-earnings call with analysts that the tech sector is moving through a “challenging period” that has included significant cost and workforce cuts.

“[W]hat we have seen is that the sector is under a lot of stress,” Krakowsky said, according to an AlphaSense transcript.

He said the pressure Interpublic has seen in sector isn’t from smaller tech companies, or those backed by venture capitalists, but a “relatively small group of large companies.”

And given a “modestly more uncertain” macroeconomic environment, Krakowsky said it’s clear that pressure on the tech

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Top English-speaking Advertising & Marketing firms in Korea to Help global startups build strong brand value

Advertising and marketing are crucial for startups looking to gain visibility, establish their brand, and attract customers. A well-planned marketing strategy can help startups reach their target audience and attract venture firms.

In today’s highly competitive business environment, advertising and marketing are vital for startups’ success. However, language barriers can significantly challenge international startups looking to market themselves in Korea. That’s why it’s essential to partner with an English-speaking advertising and marketing firm that understands the local market and can help startups achieve their goals. 

By investing in effective marketing strategies, startups can establish a strong brand, attract customers, and achieve long-term growth and success. Despite language barriers in Korea, several English-language ad campaigns have become successful  and helped increase brand awareness and sales for various companies in Korea. 

In 2006, McDonald’s launched its famous “I’m Lovin’ It” campaign featuring K-Pop stars singing the catchy jingle in English. Coca-Cola’s “Taste the Feeling” campaign was launched in 2016 with English-language ads and a social media campaign, encouraging people to share their “Coke moments.” Nike’s “Just Do It” campaign, launched in 2002, inspired people to push themselves to achieve their goals with English-language ads featuring Korean subtitles. Apple’s “Think Different” campaign, launched in 1997, established the company as a leading brand in Korea’s technology market with English-speaking ads and Korean subtitles. 

Finally, Samsung’s “Do What You Can’t” campaign, launched in 2017, encouraged people to break down barriers and achieve their goals with English-language ads and Korean subtitles. Cheil Worldwide, a South Korean multinational advertising and public relations company, was the ad agency that made the successful Samsung campaign.

Here are some of Korea’s top English-speaking advertising and marketing firms that can help global startups.

 Cheil Worldwide: For startups looking for English-speaking  advertising and marketing firms in Korea, Cheil is the largest advertising

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