Brand Marketing in a Weak Economy

Brand Marketing in a Weak Economy

Brands work because they have a clear message, they connect with consumers emotionally, and their products fulfill a consumer need. In a weak economy, when consumers must be especially careful of their spending, brands can earn a lifetime of brand-allegiance or lose it, depending on how they market themselves in a down turn.

In his article, Marketing Your Way Through A Recession, Harvard Business School professor, John Quelch, prescribes eight guidelines for marketing your brand in 2008-2009. “…brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower costs than during good economic times. Uncertain consumers need the reassurance of known brands.”

Steve