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