FOREX, ever heard that word before? You must have since its become a very popular marketplace online. Well anyways here it is, FOREX is the name given to the Foreign exchange market. Quite interestingly the first three letters of FOREIGN and the first two letters of EXCHANGE combined make up this new word FOREX.
Now that you know what FOREX stands for and that it is the Foreign Exchange marketplace, you probably will be thinking so what?? What's the fuss all about? Get ready for this marketplace is BIG!!
The FOREX or the Foreign Exchange market is the biggest market in the world, it has a daily turnover of $1.5 trillion. Read that again, a DAILY turnover of $1.5 trillion, and at the same time it's the only market that is predicted to keep increasing in size for the future.
This incredible turnover is much greater than the combined turnover of the New York and London stock exchange on any given day.
The Reason the FOREX exists is because countries, governments and large institutions need to do trades between each other and they need to be paid with their local currency.
Another reason is because of YOU. Let me explain why I'm pointing at you in particular, if you ever went on holiday to another country, the you probably needed to do some currency exchange to the local currency of that country you spent your holiday in.
So you see the FOREX will always exist and as technology and communications become faster and more efficient international trade will increase, therefore always being a need for the FOREX market to exist.
I've been a ?marcom? professional for more years than I care to admit. And to this day, when asked what I do for a living, marcom elicits a quizzical look, or a hmmmm, or simply the next question in the series, ?what's that.? Say you are a crisis manager, teacher or even a publicist, and the questions end there - the name pretty much communicates the job description. Not so with a marcom professional. I used to give my ?60-second pitch? explaining that marcom is short for marketing communications, and that it simply means that I assist clients with their communications, marketing, and outreach activities. ?Oh, - you are in public relations.? Well, that's part of it. ?I see - you are in advertising.? Sometimes I create or manage advertising. ?Uh-huh - marketing, so you're in sales.? In a way, sales from the standpoint that I communicate who and what my clients are and do, and inform their targeted audiences of what they have to offer. But,not sales in the general sense of the word. Inevitably, these conversations eventually circle back to, so what exactly do you do? I looked on the Internet for a definition of marcom, and found this one from Whatis.com: Marcom is an abbreviation for "marketing communications." Marcom is targeted interaction with customers and prospects using one or more media, such as direct mail, newspapers and magazines, television, radio, billboards, telemarketing, and the Internet. A marketing communications campaign may use a single approach, but more frequently combines several. And that didn't quite do it for me, because I felt it relies too heavily on mass media, and not enough on one-on-one, community, and word-of-mouth messaging. It leaves out branding, events, coaching, and much more. So, I've worked hard to perfect my own clear, concise explanation of just what a marcom professional does. In short,- communications. That's it, one word - communications. My counterparts and I take the talking points or messages of a client or individual project, add in some research and find the very best combination of venues for getting these messages to the folks who want, need or will use them in the most timely and cost efficient way. Marcom professionals are an interesting breed. Most of us do have our specialties - brand development and management, writing, project management, media relations, crisis communications, research, community relations, events....the list goes on. But, old school marcom folks like me are considered ?generalists.? We have, and can do all of the above - and more. What's more, a seasoned marcom professional readily moves among clients (or employers) in most any industry. There may be terminology and nuances to master, but communications skills are communications skills for the long term. I've had the good fortune of successfully representing quite a diverse array of clients such as: promoting the North American premiere of a new show by a Tony-Award winning composer; planning and managing the grand opening of a well-known manufacturer's new factory; crisis communications during a labor-union dispute; producing TV and radio ads about substance abuse; and managing extensive research on the awareness Americans have of emergency preparedness. So, there you go, I'm a marcom professional'I communicate...and thoroughly enjoy doing so. Written by: Gayle Wiegand, President - http://www.outreachpros.com
Both Ahmed Q. & Gayle Wiegand are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Ahmed Q. has sinced written about articles on various topics from Forex Guide. | |. Ahmed Q.'s top article generates over 14800 views. to your Favourites.
Gayle Wiegand has sinced written about articles on various topics from The Internet, Gifts for loved ones and Forex Guide. Gayle Wiegand heads up a marketing communications consulting group, http://www.OutreachPros.com . She has directed projects for private industry, not-for-profit, and government contracts. With an M.S. in Communications and a B.A. in Theatre, Ms. Wiegand h. Gayle Wiegand's top article generates over 22200 views. to your Favourites.