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If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.
The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.
Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.
Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)
So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.
For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.
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Wednesday, May 07, 2008
mSnap Powers Citadel Broadcasting's Largest Country Music Mobile Marketing Campaign With Kellie Pickler Concert Promotion In Atlanta
Comtex
SAN FRANCISCO and ATLANTA, May 7, 2008 /PRNewswire via COMTEX News Network/ ----Leading mobile advertising network mSnap today announced the groundbreaking results of a campaign launched April 14-23, in partnership with Citadel Broadcasting's #1 country music radio station in Atlanta. The text-to-win promotion received over two million text messages, resulting in the largest mobile marketing campaign for the Country music genre that Citadel Broadcasting has ever executed.
WKHX-FM / KICKS 1015 FM kicked off the "Kellie Pickler High School Hook Up," targeting all high schools in the Atlanta metro area -- for a chance to win an exclusive, private concert with the Sony BMG/BNA recording artist and American Idol Season Five finalist. The promotion was powered by mSnap, which enables both radio and television broadcasters and advertisers to easily create and manage SMS-based mobile campaigns.
"Texting has become such an integral part of a high schooler's lifestyle and we wanted to introduce a safe, non-intrusive mobile component to our promotions that the audience would really get and have fun with," said Christy Ullman, Promotions Director for WKHX-FM. "Working with mSnap, we were able to build a great text contest with Kellie Pickler, and the result was higher ratings, and nearly 10,000 new subscribers in less than two weeks. The permission to approach these listeners with contests and promos moving forward is huge for us."
mSnap worked with KICKS 1015 to implement the SMS mobile-based promotion, build a website with detailed contest information, and post updated lists of the top ten participating high schools. With help from the station's DJs who promoted the contest on their shows, and a sponsorship from Wendy's, the promotion reached more than 150 high schools in the Atlanta area.
Etowah High School in Woodstock, GA was announced as the official winner on April 28, recognized for submitting the most text messages. The school's grand prize was a live performance by Kellie Pickler at their school on Monday, May 5. Etowah's students contributed more than a quarter of the total text messages received, with an impressive 544,779 total texts.
"At mSnap, we have built a mobile ad network that helps traditional broadcasters add a new, powerful mobile element to their promotions and contests -- resulting in unprecedented levels of engagement that turn listeners into users who interact with the station for hours each day, even when they're not listening to the radio," said Martin Kristeseter, Founder and Executive Vice President, Business Development of mSnap. "Mobile is leading the way as an alternative way to measure radio campaigns -- this is becoming increasingly important as marketers and music labels alike look for alternate ways to measure listeners, cume and engagement."
"The WKHX-FM / KICKS 1015 FM mSnap promotion was the perfect avenue to reach Kellie's audience as fans seek new ways to engage with artists and learn about future contests, album releases, ringtones and tour dates," said Heather McBee, VP, Digital Business, Sony BMG Nashville.
About mSnap
mSnap is a leading mobile advertising network that has built a sophisticated SMS-based technology platform allowing traditional broadcasters, both radio and TV, to be more interactive, engaging, and measurable. mSnap holds partnerships with 650 radio stations nationwide, through exclusive deals with partners like Citadel/ABC, with the potential to reach over 200 million mobile users a week. mSnap is headquartered in San Francisco, CA. Visit http://www.msnap.com for more information.
Media Contact: Julia Konstantinovsky Christy Ullman Civilia PR KICKS 1015 (415) 439-4250 (770) 563-8506 julia@civiliapr.com christy.ullman@citcomm.com
SOURCE mSnap
http://www.msnap.com
Copyright (C) 2008 PR Newswire. All rights reserved
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