One method of updating content is to update content stored as repository items.
For example, you could have a scenario that shows targeted promotional content to males and females respectively and you want a merchandiser to be able to change the content once a week.
The way the scenario is constructed works well; it is the actual promotional content that changes over time.
You store the content as repository items named MalePromo and FemalePromo respectively. The Add Item to Slot actions references the MalePromo and FemalePromo repository items. All the merchandisers need to do is change the content stored in the repository items without changing the name of the items. Every other week they could replace the content of each repository item and the new content would render appropriately in the offer management panels. If you are using ATG Content Administration or ATG Merchandising, you can use a versioned repository which would enable you to find and utilize previous versions of content.